Leading Peer to Peer Lending Platforms in Africa

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Peer to peer lending is lending money to people or businesses without having to go through financial intermediaries. Peer-to-peer lending platforms have an online presence, and they match borrowers to respective investors. There are many peer to peer lending platforms in Africa that you can invest in. They include:


Kiakia is a Nigerian peer to peer lending platform that investors can use to invest. Kiakia is a financial marketplace where you can invest in personal and business capital. You can also borrow money from them. The platform connects borrowers with the best investors to invest in your business. You can opt to borrow or lend money at competitive interest rates.

Kiakia gives loans of between 10,000 and 200,000 nairas at the rate of 0.80%. The loan duration is usually 7 to 30 days. So far, the platform has lent out over 6 billion naira.


UbaPesa is a peer to peer lending app in Kenya where users can lend and borrow money. You can invest in UbaPesa by lending money and getting back with interest. The app disburses loans to borrowers by depositing money in their M-Pesa accounts. The app makes use of crowdfunding and forex.

Through the app, you can check the lending requests, credit score rating. The app has an automatic matching system that matches borrowers with the right lenders, considering the principal amount, credit score and loan duration.

You can lend loans for 10, 20 and 30 days. The interest rates for the loans are 8%, 9% and 10% for 10, 20 and 30 days, respectively.


RainFin is a peer to peer lending platform in South Africa that enables borrowers to access affordable capital. You can invest in RainFin by financing borrowers at competitive interest rates. You can lend loans for a period of 6 to 24 months, while the APR starts from 10.25%.

Aella Credit

Aella Credit is a peer to peer lending platform available in Nigeria and Ghana. It was founded in 2015 to give loans to consumers. The startup provides instant loans eliminating the challenges that arise from the process o applying for a loan. You can lend or repay your loan using the Aella app.

You can fund employees by lending them money between 1,500 and 700,000 naira. The interest rates are competitive and they range between 4% and 29%. The loan duration is between one and two months.

Earn up to 26% per annum. Aella Notes thrives on transparency. As an investor, you have access to our loan book, which allows to see how your investment is disbursed and your interest.


Farmcrowdy is a Nigerian peer to peer lending platform that connects farmers and agribusiness to investors who can lend them money. So far, the P2P platform has over 298,400 networks of farmers and lent over 15 million dollars in three years. The platform connects governments, financial institutions, farmers and producers to promote the food chain value and boost food security.


You can sign up and start investing through the FundColony P2P lending platform. You only need to sign up and select loans in the marketplace that you wish to invest in. The lender makes an offer of the amount and the interest rate they want to give borrowers. The borrowers can accept or reject the offer.

Investors should spread their investment in several loans. This can prevent them from making huge losses for investing huge monies in a single borrower. Lenders are paid the money together with interest in their wallets by borrowers. A lender can opt to re-invest the money or withdraw it.


ThriveAgric is a P2P lending platform for farmers. To invest in ThriveAgric, you need to create an account and join a community of farmers. You need to have an email to sign up. Once you have created an account, you then need to select a farm and the number of units you would like to fund. Then make payments to fund the units you selected.

You can get personalized updates on your dashboard for you to check on the progress of the farms you have funded. When farmers harvest, you get returns from farm produce. The returns are distributed amongst investors of a particular farm. Your money is safe with ThriveAgric because all of the farms under their portfolio are fully insured by LeadWay Assurance.


Fairmoney is a peer to peer lending platform. You need to download the app to access their services. It is operational in Nigeria. You need to sign up using your bank verification number and debit card to access a loan. You can lend a loan of between 2,500 and 150,000 nairas. The interest rates are between 5% and 28% of the principal amount. The loan repayment duration is between 4 and 26 weeks.

Final Word

Peer to peer lending platforms are excellent sources of personal and business capital. They are also a great way for investors to grow their money. Investors should spread their money by funding several borrowers. It is highly risky to fund one borrower large amounts of money since he can default in repayment. Otherwise, with proper risk assessment, peer to peer lending is a great way to invest.


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