Mukuru and JUMO are rewriting South Africa’s credit story with Fast Loan, a WhatsApp-powered service that delivers fair, fast, and transparent credit to millions excluded from traditional banking.
For a nation where 16.8 million adults remain unbanked, this partnership is inclusion in action. Rolled out on October 23, 2025, the partnership aims to make borrowing both fast and fair.
South Africa’s Credit Divide: Why This Moment Matters
South Africa’s credit market has long been a story of two economies. Formal banks cater to the few with stable pay cheques and spotless credit files.
Meanwhile, millions of informal workers, including hawkers, domestic helpers, and gig hustlers, rely on payday lenders and informal borrowing circles to stay afloat.
The numbers tell the story. TransUnion estimates that 16.8 million South Africans lack access to formal credit, effectively sidelining them from opportunities like home ownership, education, or entrepreneurship.
For years, Mukuru has been a trusted bridge for this demographic, powering remittances and mobile wallets through 11,000 retail partners, including Spar, Pick ’n Pay, Boxer, and Shoprite.
Now, with JUMO’s AI infrastructure in the equation, Mukuru is stepping into lending, turning data, trust, and technology into real financial access.
How Fast Loan Works
No forms. No branches. No waiting.
Customers simply open WhatsApp, start a chat with Mukuru, and the system does the rest. JUMO’s AI instantly analyses eligibility using transaction data instead of traditional credit scores.
Within moments, approved users receive short-term loans from R100 to R8,000 paid directly onto their Mukuru Card.
Funds are instantly usable at stores, ATMs, and e-commerce platforms. Repayments are due in 30 days, with clear, upfront fees:
- 11.5% initiation fee
- 5% interest (dropping to 3% after your first loan)
- minimal penalties for late payments
There’s also a strong incentive to pay early with no interest if you do. Every loan is reported to credit bureaus, helping users build a real financial footprint.
The simplicity hides a sophisticated backbone. JUMO’s algorithms rely on behavioural and transactional data to score borrowers ethically and inclusively.
READ ALSO:How Mukuru’s Expansion Is Shaping the Future of Digital Transactions in Africa
The platform recently scored 92.2% in the Cerise + SPTF Customer Protection Certification, a globally recognised standard for responsible digital finance.
What the Leaders Are Saying
“Fast Loan is built on years of deep engagement with South Africa’s informal economy,” says Andy Jury, Group CEO of Mukuru.
“It reflects our understanding of how customers earn, spend, and manage pressure. Partnering with JUMO lets us scale that insight responsibly, combining trust, technology, and empathy.”
Andrew Watkins-Ball, JUMO’s founder and CEO, echoes that focus on purpose:
“We’re proud to work with Mukuru. Their services are relied on by millions, and we’re committed to giving them the tech infrastructure to deliver even more value.”
For both executives, the message is clear: inclusion comes first, profit follows.
The Bigger Picture: Fair Finance at Scale
The launch of Fast Loan marks another step in South Africa’s fintech evolution, where AI isn’t replacing humans; it’s rewriting outdated financial systems.
Over time, Mukuru and JUMO plan to expand loan limits, offer flexible terms, and refine credit assessments using anonymised data insights.
It’s a small product with big implications. Instant microloans may not fix inequality overnight, but they can smooth cash flow, build trust, and create credit histories for millions who’ve been invisible to banks.
As South Africa’s digital finance sector grows more competitive, expect others to follow Mukuru and JUMO’s lead using AI not to exploit, but to empower.
Mukuru and JUMO: Powering Digital Finance Across Africa
Mukuru in Kenya is one of Africa’s most trusted money transfer and remittance platforms, enabling customers to send and receive funds quickly and securely across borders.
Through the Mukuru app, users can easily complete transactions, check balances, or manage their accounts via the Mukuru mobile login or web Mukuru login portals.
New users can complete Mukuru registration online or in person, while the Mukuru app download is available on Android and iOS for convenient mobile access.
For assistance, customers can reach support via the official Mukuru WhatsApp number. Operating in multiple countries, including Mukuru South Africa, the company continues to bridge financial gaps for millions.
Complementing Mukuru’s financial ecosystem is JUMO, a leading fintech platform offering digital lending and savings solutions.
Through the JUMO app, users can access various JUMO products, such as instant JUMO loans, designed to support small businesses and individuals.
With its data-driven approach, JUMO fintech continues to redefine access to credit and financial inclusion across emerging markets.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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