Eleving Group Begins Operations in South Africa

Eleving Group, listed on the Frankfurt and Riga stock exchanges, has launched its operations in South Africa. The company obtained an operating license from the South African National Credit Regulator. Their first branch, located in Cape Town, offers consumer loans under the Bongo brand.

South Africa presents a significant opportunity, being one of the continent's largest economies. With over 63 million people, the country's lending market is sophisticated, supported by a solid regulatory framework. Eleving Group aims to leverage its technology-driven solutions and African market experience as key competitive advantages.

Eleving Group plans to expand by opening more branches in major South African cities. Their approach includes offering services digitally to tap into South Africa's advanced digital landscape while maintaining a physical presence.

The company operates in 18 countries globally, with significant market activity in Africa, such as vehicle and smartphone financing. As of March 2026, 41% of their total net loan portfolio of EUR 477.8 million was dedicated to African markets.