The Stellenbosch Company Powering this New Financial Trend Across Africa

Stellenbosch is known for its wine, beautiful vistas and the antics of its university students. But this quaint town is also home to Paymenow Group, a fintech company co-founded in 2019 by none other than Bryan Habana. With a vision rooted in financial inclusion, this company gives employees access to money they’ve already earned before payday, no interest or debt involved. It’s called earned wage access (EWA), and there’s such a need for it that Paymenow is now South Africa’s fastest growing company, and one of the fastest growing companies across all of Africa.

It's no secret that workers across Africa are struggling. In South Africa alone, the surge in two pot withdrawals, loan defaults and prevalence of informal lenders indicates many are facing dire financial situations. This is where earned wage access comes in – employees can withdraw a portion of their salary before payday to handle mid-month emergencies. There is no debt, only a transaction fee equivalent to ATM charges. In a market where many consumers are used to paying at least 50% interest rates from informal lenders, this is revolutionary. EWA is a way for workers, especially those who wouldn’t otherwise qualify for financial products, to better manage their cash flow, avoid predatory loans and ultimately gain financial freedom.

Paymenow has emerged as Africa’s market leader by not only providing earned wage access, but bundling it with financial literacy training, fee-free necessity vouchers, and an interest-bearing savings account. These additional tools foster long-term financial stability and responsible money management. Research from the the International Labour Organization and Afridigest Thought Circlehighlights EWA assists employees with improving their financial management ability and serving as an alternative to payday loans. Employees also get their dignity back, as they no longer have to approach a friend or employer for a loan.

From Startup to Scale-up

Paymenow’s rapid growth comes amid a global boom in the EWA sector, forecasted to grow from USD 30.83 billion in 2025 to over USD 242.46 billion by 2034 at a CAGR of 25.75%. This explosive growth is reflected in Paymenow’s own growth. Deon Nobrega, CEO and co-founder of Paymenow says “We’ve grown from only a handful of users in 2019 to nearly 500,000 users in 2025. We’re also really proud that with only 50 staff members, Paymenow processes over 1 million transactions each month. This is proof of the deep need for safe financial alternatives in Africa, and the power of technology to provide this.”

Paymenow’s journey from a small fintech startup to South Africa's fastest growing company demonstrates the power of purpose-driven innovation. Nobrega explains "We've grown exponentially not by chance, but because our solution addresses a fundamental need that affects millions of workers across the continent.""What makes us proud is not just the transaction volume, but the educational journey our users are on," Nobrega shares."With over 1.7 million financial education lessons completed on our platform, we're seeing real evidence that people want more than access—they want knowledge and empowerment to make better financial decisions."

Beyond Business: Building Financial Dignity

The human impact of Paymenow's work extends far beyond balance sheets. For thousands of workers across Africa, the platform represents freedom from the shame of financial dependency. By eliminating the need to request salary advances from employers or loans from family and friends, Paymenow restores dignity to the financial lives of its users.
The inclusive design of the platform supports workers across income levels and sectors—from retail employees managing unexpected medical expenses to mining professionals seeking to invest in their children's education. This versatility positions Paymenow not just as a successful business, but as a driver of sustainable economic advancement across diverse communities.

Forward with Purpose

As Paymenow reflects on its journey from a small Stellenbosch startup to one of Africa's fastest growing companies, there's a sense of pride in the foundation laid. And now, with plans for deeper market penetration, new product innovations, and expansion into additional African countries, Paymenow's trajectory points toward an even more impactful future. The company's vision extends beyond its own success to the transformation of Africa's financial landscape—one where every worker has access to fair, responsible financial tools that promote dignity and create pathways to prosperity.

"This recognition as one of Africa's fastest-growing companies by the Financial Times affirms our approach," Nobrega concludes. "But our true measure of success will always be the financial health of our users. As we scale, we remain unwavering in our dedication to expanding access to responsible financial services and promoting financial wellness for all Africans. This is just the beginning. The future of financial inclusion in Africa is being written now, and Paymenow is committed to being at the forefront of that story."