Paymenow: Powering Financial Inclusion Through Earned Wage Access Across Africa

Recognised by the Financial Times and Statista as one of Africa’s Fastest-Growing Companies in 2025

15 May 2025 – Cape Town, South Africa – Paymenow, Africa’s leading earned-wage access (EWA) platform, has been recognised as one of the fastest-growing companies on the continent in 2025 by the Financial Times and Statista. Ranked in the top 10 across Africa and named the fastest-growing company in South Africa by News24, Paymenow is setting the standard for fintech innovation and financial empowerment in the region.

The company’s rapid ascent 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 Africa, where demand for flexible financial solutions is reshaping the economic landscape.

A Catalyst for Financial Inclusion

EWA platforms like Paymenow are transforming financial inclusion in Africa by offering equitable, real-time access to earned wages. This model enables individuals—especially those excluded from traditional banking systems—to better manage their finances, avoid predatory loans, and break cycles of debt.

Recent research by the International Labour Organization and Afridigest Thought Circle highlights the growing impact of EWA solutions across African markets. Paymenow has emerged as a market leader by not only providing early wage access, but by bundling it with financial literacy training, fee-free shopping vouchers, and interest-bearing savings accounts. These services foster long-term financial stability and responsible money management.

“Being recognised by the Financial Times validates our mission to transform financial wellness across the continent,” says Deon Nobrega, CEO and co-founder of Paymenow. “We’ve grown from a handful of users in 2019 to nearly 500,000 users in 2025—proof that there is a deep need for safe, responsible financial alternatives in Africa.”

Platform Growth and Reach

Paymenow has processed over 15 million transactions and expanded from five corporate clients in 2019 to over 300. The platform now operates in South Africa, Zambia, Namibia and Pakistan and plans to expand further across the continent.

Crucially, Paymenow offers a data-free app, ensuring accessibility for users in underserved areas, allowing users with no data to buy and top-up from their chosen provider at no extra cost. In addition, its bank-grade security protocols and direct payroll integration have positioned it as a trusted partner for employers and employees alike.

"What began as a tool to close a gap in financial services has evolved into a holistic financial wellness platform," Nobrega adds. "Our users have completed over 1.7 million financial education modules reflecting strong demand for not just access, but also education and empowerment."

Dignity, Empowerment, and Societal Impact

Beyond the numbers, the impact of EWA is deeply human. By eliminating the discomfort of asking for salary advances or borrowing from family and friends, Paymenow gives users a sense of dignity and autonomy. The inclusive nature of EWA supports diverse worker segments—across income levels, sectors, and geographies—positioning the platform as a driver of sustainable economic growth.

“This recognition is not just about company performance—it’s about the lives changed and communities strengthened,” Nobrega concludes. “As we scale, we remain committed to expanding access to responsible financial services and promoting financial wellness for all Africans.”