Founded in 2019 as PremierCredit, Zambian fintech start-up eShandi has evolved into a pan-African challenger that utilises AI to assess creditworthiness and provide access to loans for underbanked individuals and SMEs, bypassing the need for traditional documentation required by conventional banks.
“eShandi’s mission is to build an inclusive financial system that works for all Africans. We are determined to bring financial services to underserved groups, especially women and SMEs, who have historically been excluded from traditional banking,” says Chilufya Mutale-Mwila, co-founder and chief visionary officer.
“One of the core challenges traditional banks have faced in assessing creditworthiness among these groups is the absence of formal documentation, such as pay slips or credit histories,” she adds.
“Our AI-driven platform enables us to assess credit applications and disburse loans with unmatched speed and accuracy, eliminating the need for traditional paperwork and checks.”
The company leverages alternative data sources and machine learning to build accurate risk profiles. “These sources include mobile money transaction history, smartphone usage, and transaction behaviour on eShandi’s platform,” Mutale-Mwila explains. “This approach allows us to unlock financial access for potentially hundreds of millions of people across Africa.”
Beyond technology, eShandi also emphasises financial literacy, integrating financial education tools into its platform to help users better understand and manage their money. “We embed financial education within our platform, ensuring that customers fully understand their options and can make informed financial decisions. This focus on financial empowerment sets us apart from other fintech companies,” Mutale-Mwila says.
This story was originally published on FinTech Futures’ sister site Connecting Africa as part of a monthly series highlighting innovative start-ups.
