Savings co-ops now manage $9.3bn for nearly 8 million members, but behind the shiny USSD menus lies a system where automated debt collection masks a total breakdown in back-office accountability.
The African fintech’s gross profit from device sales fell to $57.9m even as revenue rose 45%, exposing a structural shift in the economics of financing smartphones and e-bikes for the continent’s informal earners.
Savings co-ops now manage $9.3bn for nearly 8 million members, but behind the shiny USSD menus lies a system where automated debt collection masks a total breakdown in back-office accountability.
The African fintech’s gross profit from device sales fell to $57.9m even as revenue rose 45%, exposing a structural shift in the economics of financing smartphones and e-bikes for the continent’s informal earners.
