Wonga South Africa received the prestigious FinTech Award at the Sentech Africa Tech Week 2025, which helps establish its position as a leader in South Africa’s fast-growing financial technology industry.
Sentech Africa Tech Week hosts major technology companies and industry experts who participate from across the entire African continent. The FinTech Award recognises companies demonstrating outstanding innovation, together with significant customer impact and advanced technological developments in financial services.
Wonga’s evolution into South Africa’s leading short-term loan provider has earned the company its FinTech Award at Sentech Africa Tech Week 2025.
For industry experts who’ve observed Wonga’s development over the last decade, it’s no surprise that Wonga received this award. Since its management buyout in 2019, the company has maintained its position as a leader in responsible lending through advanced technology services for underprivileged communities.
CEO Brett van Aswegen expressed his excitement about receiving the Trailblazer Award in the FinTech industry. Noting that the team have received this award with great excitement and that it will undoubtedly increase their determination to help more people achieve financial stability.
The recognition highlights Wonga’s efforts in extending financial inclusion throughout South Africa, as approximately 40% of adults lack access to formal credit markets. Wonga is expanding credit opportunities to underserved communities through its sophisticated AI algorithms and alternative data evaluation methods, which conventional banking institutions had largely neglected.
The company aims to implement machine learning technology in combination with risk assessment models that use mobile transaction histories along with utility payment patterns and employment data to determine creditworthiness. Through its unique methodology, Wonga provides credit services to customers without conventional credit records while keeping its lending practices responsible.
The company achieved another technological advancement through its migration to the Amazon Web Services cloud computing platform. The Stratus platform operates with exceptional speed to process loan applications and maintains continuous system availability. The engineering teams now deploy ten or more updates each month, while the previous system only released one or two updates.
Through its Money Academy initiative, Wonga has dedicated significant resources to deliver free financial education resources which now benefit thousands of South Africans who learn about budgeting, debt management and investment planning. The company sets itself apart from standard lenders because it emphasises customer empowerment through its initiatives. Brett has been campaigning to improve African financial literacy for years.
Van Aswegen expressed his gratitude to Sentech Africa, the judges who evaluated Wonga and the team members who help drive the company towards ever-new heights.
Wonga South Africa started operations in 2011 as part of the international Wonga Group before achieving independence through a management buyout. The company operates a digital platform which serves South African customers by offering flexible loans between R500 to R8,000 with various repayment options.
The company operates under strict regulatory oversight by the National Credit Regulator and maintains full compliance with South African lending legislation.
