In one business day in South Africa…

by | Dec 5, 2017 | Marketing your business, Resources and tips

We pride ourselves as one of a new breed of digital-first fintech companies designed from the ground up to support South African SMEs. We’ve spent countless hours refining our scoring technology to ensure we can provide quick, easy short-term funding through a convenient online interface. In some cases, we are able to provide approval on a loan application within a single day – a far cry from the three-month wait most traditional lenders demand.

That got us thinking: what happens in a typical business day? What are some of the main business activities that play out in the time it takes us to process and approve a loan application?

Here are some of the amazing things that take place on an average working day:

  • 8 million people get ready for work at 650 000 SMEs across the country
  • 683 new SMEs are established
  • 868 new SME jobs are created
  • R11 billion in economic value is created
  • 15 million minibus commuter trips take place
  • 6 million people order coffee from an independent coffee shop
  • R101 million is spent on online transactions
  • 8 billion emails are sent and received

See our infographics for more amazing stats

 

Guest blogger

Lulalend Partners with PayFast

PayFast enables South African businesses of all sizes to accept payments online. They enable easy, secure and instant transfer of money from online buyers to sellers. Secure online payment solutions that connect sellers with buyers on a single platofrm with multipe ways to pay.

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