Mafori Finance
Personal loans for the residents of south africa.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | Growth Equity VC | ||
| Total Funding | 000k | ||
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Mafori Group operates as an integrated financial services platform in South Africa, strategically targeting a market segment that has been historically excluded or underserved by the mainstream financial industry. Founded in 1998 by Pakie Mphahlele, the company was established with a mission to provide financial solutions to underserved communities, particularly municipal workers. Mr. Mphahlele, the Group CEO, has a background as a corporate banking expert, a consultant to the National Treasury, and a lecturer in development finance, holding postgraduate degrees in Finance, Economics, Psychology, and Education.
The firm's business model centers on offering a diverse portfolio of financial products and services directly to its clientele. Revenue is generated through these offerings, which include personal loans up to R25,000, educational loans, and emergency loans. A significant part of their operation is dedicated to credit repair services, where they assist clients in removing blacklisting from credit bureaus, rescinding judgments, and improving their credit scores. This service helps reintegrate individuals into the formal banking system.
Beyond credit, Mafori Group provides a suite of solutions aimed at holistic financial well-being. This includes housing finance services such as facilitating government subsidies (First Home Finance Grants) and home improvement loans. The company also offers insurance products, including the consolidation of funeral policies, and basic banking services like a one-debit bank account. Operating with a vision of "Humane banking for all," the company emphasizes social justice, economic redress, and creating accessible, socially responsible banking solutions. Mafori Group is a 100% Black-owned company with 70% female leadership.
Keywords: financial inclusion, microfinance South Africa, credit repair services, personal loans, debt consolidation, blacklisted credit solutions, municipal worker finance, housing finance grants, socially responsible banking, Pakie Mphahlele, financial services for underserved, development finance, economic redress, emergency loans, educational finance, insurance consolidation, humane banking, First Home Finance Grants, BEE financial services, female leadership