Wonga’s CEO on Financial Inclusion, the Future of Finance in South Africa, and the Evolution of Wonga

In this episode of the Lending Link Podcast, host Rich Alterman welcomes Brett van Aswegen, CEO of Wonga, for an in-depth discussion on the South African lending market and Wonga’s strategic evolution. Brett outlines how Wonga transitioned from a traditional payday lender to a leader in short-term financial solutions, focusing on ethical lending practices and the impact of these changes on consumers and the broader market.

Brett shares insights from his extensive experience in the financial services industry, reflecting on the challenges and breakthroughs in navigating Wonga through significant regulatory and market shifts. The conversation also covers Brett’s approach to leadership and how it shapes Wonga’s operations and corporate culture.

Rich and Brett also discuss key aspects of the South African credit landscape, including economic conditions, consumer behavior, and regulatory challenges. Personal anecdotes from Brett offer a glimpse into his life outside finance, shedding light on how his interests inform his professional perspective.

Tune in to explore the nuances of consumer lending in South Africa, leadership strategies, and Wonga’s future direction in ensuring responsible and sustainable financial services.

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Episode Transcript


About Wonga

Established in 2011 as part of the Wonga Group, Wonga South Africa has become a leading force in the nation’s financial technology landscape. Over the past decade, the company has been at the forefront of revolutionizing access to short-term credit, quickly becoming a pioneering force in the local personal finance sector.

In late 2019, Wonga South Africa gained independence from the UK-based Wonga Group following a management buyout led by the local executive team. This shift has reinforced Wonga’s commitment to responsible lending and financial inclusion. Utilizing advanced technology, Wonga continues to offer fast, transparent, and flexible financial products designed to meet the varied needs of its customers.


About GDS Link

GDS Link is a global leader in credit risk management, providing tailored software solutions, analytical and consulting services. Our customer-centric risk management and process automation platforms are designed for the modern lender in their pursuit to capitalize on the entire credit lifecycle.

By providing a personal, consultative approach and leveraging our own industry-leading knowledge and expertise, GDS Link’s solutions and services deliver exceptional value and proven results to thousands of clients around the world.


About The Lending Link Podcast

The Lending Link Powered by GDS Link is a podcast hosted by Rich Alterman and designed for the modern-day lender. Each episode deeply delves into innovation within the financial services industry and transformation efforts, including AI / ML integration, Modeling, Risk Management Tactics, and redefining Customer Experiences.

GDS Link launched The Lending Link to explore unique strategies for the modern-day lender, dive into the innovative advancements GDS Link and our partners are currently developing and delivering, and gain insights from captivating guests within the FinTech, banking, and credit union worlds.

We have a wide range of guests from various lending institutions and diverse organizations who talk about strategies, technology, and everything in between.

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