Mumbai, March 3, 2025 – Select Africa, a leading retail financial services group headquartered in South Africa, has announced a strategic partnership with Veefin Solutions Ltd., a global fintech leader, to drive digital transformation across multiple African countries.

This collaboration will leverage Veefin’s Digital Lending Suite, allowing Select Africa to streamline onboarding, loan origination, loan management, reporting, and collections. The partnership marks a significant milestone in expanding financial services to the unbanked and underserved populations across South and East Africa.

Expanding Financial Access Through Digital Innovation

Select Africa specializes in providing unsecured microfinance loans, education financing, and housing loans to individuals often overlooked by traditional banks. By integrating Veefin’s AI-driven lending technology, the institution aims to offer:

• Seamless digital loan applications with faster approvals.
• Automated loan management and reporting for operational efficiency.
• Data-driven decision-making to expand financial access in underserved regions.

The multi-country rollout of Veefin’s technology will enable Select Africa to enter new markets while enhancing customer experience through digital-first lending.

Leadership Insights on the Partnership

Wayne Faulds, CEO, Select Africa - Retail, highlighted the significance of this partnership:

"Our collaboration with Veefin Solutions aligns perfectly with our vision to become a digitally-driven financial institution. By adopting Veefin’s technology, we aim to offer a faster, more efficient, and more accessible lending experience to our customers across Africa."

Raja Debnath, Chairperson, Co-founder & CEO of Veefin Solutions, emphasized the need for digital lending solutions in emerging markets:

"Select Africa’s adoption of Veefin’s Digital Lending Suite underscores the growing necessity for fintech-driven financial inclusion. We are excited to support Select Africa’s mission and set new industry benchmarks for digital lending."

About Select Africa

Founded in 1999, Select Africa is a retail financial services group focused on providing microfinance solutions to unbanked individuals. It operates in Kenya, Malawi, Eswatini, Lesotho, and Uganda, with administrative hubs in Mauritius and South Africa. The company specializes in incremental housing loans, consumer loans, and education financing.

About Veefin Solutions

Veefin Solutions Ltd. is part of the Veefin Group of Companies, which specializes in digital lending, supply chain finance, AI-powered financial solutions, and fintech consulting. The company is committed to optimizing working capital for banks, financial institutions, and corporations through advanced AI, machine learning, and automation.

Headquartered in Mumbai, Veefin has offices in Ahmedabad, Dhaka, and Dubai and is listed on BSE SME.

For more details, visit https://www.veefin.com/.

Driving the Future of Digital Lending

With financial technology transforming access to credit in Africa, Select Africa and Veefin Solutions’ partnership will play a critical role in bridging the financial inclusion gap. By leveraging cutting-edge AI and automation, this collaboration ensures that millions of underserved individuals gain access to faster, more efficient, and more affordable financial services.

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