Eatery Business

Vodacom introduces unsecured lending platform

Mariam Cassim, CEO of Vodacom Financial Services.

Vodacom’s financial services unit has launched Compare VodaLenda marketplace for unsecured personal loans.

VodaLend Compare allows users to compare personal loans offered by financial institutions such as Nedbank, African Bank and Finchoice based on individual risk profile and affordability.

Personal loan products range from R500 to R350,000, with repayment options from three to 72 months.

Vodacom, which has expanded its financial services business, says the platform is a one-stop market for sourcing emergency loans.

“VodaLend Compare is designed to respond to consumers who may need a quick financial boost for personal use, such as: Emergency medical expenses, unplanned relocation expenses or home renovations without a lengthy application process,” says Mariam Cassim, CEO of Vodacom Financial Services.

“Providing unsecured personal loans to clients can help individuals achieve their various personal goals and gain financial freedom more easily compared to other types of loans that require collateral as collateral.

“Customers also have the peace of mind that their debts are being serviced through a secure feature of the VodaPay environment.”

Vodacom has aggressively entered the financial services space after turning the previously loss-making unit into a cash cow.

The telecom company already offers loans for small, medium and micro businesses and has also launched VodaTrade, which caters to small businesses and helps them find business opportunities and conduct secure transactions.

Richard Dement

The author Richard Dement