Today p2p lending service Lendico is launching in South Africa, the first non-European market for Lendico. The start-up is launching through Africa Internet Holdings (AIH) – an e-commerce development platform supported by Rocket Internet, Millicom International and MTN. AIH co-founder Jeremy Hodara said South Africa matches the 3 criteria Lendico looks for in new markets:
- The country needs good financial infrastructure, with all the necessary components in place
- There needs to be an expanding online population, with adequate Internet penetration
- There needs to be a demand for personal loans
(Sources: Lendico, BusinessTech.co.za)