UK-based financial technology company Zvilo is expanding its operations in South Africa, targeting R2 billion (approximately US$120 million) in initial working capital financing for small and medium-sized enterprises (SMEs). The company plans to increase funding deployment to R10 billion (approximately US$600 million) within three to five years, positioning South Africa as a central market in its broader African expansion strategy.
The initiative targets businesses facing cash-flow pressures from delayed customer payments and limited access to conventional bank financing.
Key Overview
- R2 billion: Zvilo’s initial working capital funding target for South African SMEs, with approximately half reportedly secured.
- R10 billion: Planned financing deployment within three to five years.
- R350 billion: Estimated SME financing gap in South Africa, according to the company.
- €440 million+: Financing reportedly disbursed across 41 markets by the end of September 2026.
- Peter Maila: Appointed CEO of Zvilo Africa to oversee the company’s regional expansion.
- 2030 target: Zvilo aims to generate €2 billion in annual financing disbursements globally, supported by African market growth.
Zvilo Targets South Africa’s SME Financing Gap
Zvilo’s South African expansion is intended to address persistent shortages of working capital among smaller businesses, particularly those supplying larger companies.
The company estimates that South Africa faces an SME financing gap of approximately R350 billion, reflecting challenges businesses encounter when seeking affordable credit to support their operations.
Zvilo’s initial R2 billion funding programme will focus on suppliers connected to major corporations listed on the Johannesburg Stock Exchange, including businesses operating in mining, financial services and retail.
The company reportedly secured approximately 50% of its initial funding target, allowing it to begin deploying capital while continuing to raise additional financing.
Unlike conventional business loans, the approach focuses on unlocking cash tied up in unpaid invoices, helping SMEs maintain operations without waiting for customers to settle their accounts.
Supply-Chain Financing to Unlock Working Capital
Zvilo’s invoice financing model allows eligible suppliers to receive early payment against invoices owed by large corporate customers.
The company intends to work with approximately 20 major listed businesses as anchor buyers, using their established supply networks to identify SMEs requiring financing.
According to Zvilo’s estimates, individual anchor buyers can owe suppliers between R5 billion and R20 billion, with payment periods typically ranging from 30 to 60 days.
Under the proposed arrangement, Zvilo advances funds against approved invoices and collects payment when the corporate buyer settles the outstanding amount. The company reportedly charges between 1% and 2% of the invoice value.
For smaller businesses, earlier access to funds could support inventory purchases, employee salaries and supplier payments while reducing dependence on more expensive short-term borrowing.
However, the financial benefits will depend on financing costs, eligibility requirements and the reliability of payments from participating corporate buyers.
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Leadership Team Appointed to Drive African Growth
Zvilo has appointed Peter Maila as CEO of Zvilo Africa, drawing on his experience in development finance and private equity investment.
Maila previously served as co-chief investment officer at Dutch development finance institution FMO, where he was involved in investment activities targeting African businesses.
Palesa Mabasa and Shiko Mbambu have been appointed managing partners of Zvilo South Africa, bringing experience in SME financing, corporate banking and business development.
Founder and Group CEO Admir Imami has identified limited access to finance as a significant constraint on SME expansion, with the company’s technology-enabled platform intended to improve financing accessibility across supply chains.
The regional leadership appointments are expected to support local partnerships, investment deployment and expansion into additional African markets.
Africa Expansion Targets €2 Billion in Annual Financing
Zvilo’s ambitions extend beyond South Africa, with the company targeting nine African markets as part of its growth strategy.
It plans to establish operations in Sierra Leone before the end of 2026, followed by Nigeria, Kenya, Egypt, Ivory Coast and Tanzania by 2028. Ghana and the Democratic Republic of Congo are expected to follow in 2029.
The company aims to increase global annual financing disbursements to €950 million by 2028 and €2 billion by 2030, with sub-Saharan Africa accounting for approximately 60% of its loan portfolio by the end of the decade.
Zvilo also aims to expand the number of businesses it has supported globally to 15,000 by 2030, compared with approximately 3,900 previously reported.
For South Africa, the expansion offers a potential additional source of non-bank financing for smaller enterprises. Its longer-term impact will depend on successful capital mobilisation, credit-risk management and whether financing reaches businesses that remain underserved by traditional lenders.
Sources: Bizcommunity / ZAWYA / Bloomberg / MyBroadband / Nairametrics / Trade Treasury Payments
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