Africa: eShandi Expands to Kenya, South Africa, and Zimbabwe, Advancing Financial Inclusion for Millions

Zambian fintech company eShandi has announced its entry into Kenya, South Africa, and Zimbabwe, a strategic expansion aimed at addressing financial inclusion gaps and empowering underserved communities and small to medium-sized enterprises (SMEs). With this move, the company hopes to make a significant impact on the nearly seven million unbanked individuals in Kenya and provide accessible credit solutions to businesses struggling to secure funding.

Competing in a Vibrant Fintech Market

Chilufya Mutale-Mwila, eShandi’s co-founder, expressed confidence in the company’s ability to thrive in Kenya’s highly competitive fintech ecosystem:

“Kenya is a hub for innovation, home to some of the most forward-thinking fintech companies in Africa. We see this not as a challenge but as an opportunity—to demonstrate how eShandi’s transformative services can make a real difference in unbanked and underserved communities. Entering such a dynamic market aligns perfectly with our vision.”

Beyond providing financial solutions, Mutale-Mwila highlighted eShandi’s focus on financial literacy, stating:

“We embed financial education within our platform to ensure our customers fully understand their options and make informed decisions. Financial inclusion is not just about access but also about empowerment.”

Technology-Driven Financial Solutions

Since its launch in Zambia in 2019, eShandi has revolutionized financial access for unbanked populations and underserved SMEs by leveraging artificial intelligence (AI) to streamline processes and eliminate barriers such as physical paperwork. This approach has enabled the company to deliver faster, more efficient services tailored to the unique needs of its users.

The expansion to Kenya, South Africa, and Zimbabwe builds on eShandi’s mission to break down traditional barriers to financial access, targeting millions of unbanked individuals and businesses in these regions.

A Track Record of Growth and Impact

eShandi’s rapid growth underscores the strength of its model. The company’s revenue has surged from $100,000 in 2020to $12.2 million in 2023, with over one million individuals and SMEs benefiting from its services. This success has positioned eShandi as a leading force in Africa’s fintech landscape, proving the scalability and impact of its solutions.

Bridging Africa’s Financial Inclusion Gap

As the fintech sector evolves, eShandi’s expansion marks a pivotal moment in its journey to close the financial inclusion gap across the continent. By integrating innovative technology with a commitment to financial education, the company is poised to create lasting change in underserved communities while fostering economic growth.

With its entry into Kenya, South Africa, and Zimbabwe, eShandi is not only expanding its footprint but also reinforcing its mission: to empower millions through accessible, technology-driven financial solutions.