GOODFELLOW FINANCE LTD

What GOODFELLOW FINANCE LTD does

Goodfellow Finance Limited is an indigenous Zambian microfinance institution, founded in 2017 and registered and licensed by the Bank of Zambia, that provides payday salary advances and short-term loans (1–2 month terms) to formally employed individuals in both the public and private sectors. The company serves borrowers through a multi-channel distribution model: 28 walk-in branches across all 10 Zambian provinces, a website-based online application portal, a *774# USSD mobile service for 24/7 feature-phone access, and phone-based applications. Loan disbursement is supported via instant cash at any branch, bank transfer, or transfer to MTN, Airtel or Zamtel mobile money wallets, with same-day processing.

The firm's core technology is built around three operational rails: PMEC (Payroll Management and Establishment Control) for direct salary deductions through employer partnerships with government ministries, the security services, ZESCO, parastatals and mining companies; DDACC (Direct Debit and Credit Clearing) for automated bank-account deductions; and the *774# USSD gateway for low-friction mobile origination. These rails underpin a single-platform microfinance book focused on short-tenure consumer credit, with no disclosed digital lending app or API integrations beyond mobile-money settlement.

Revenue is generated through interest on a reducing-balance basis on salary advances and short-term loans, supplemented by one-time processing fees, late-payment penalties triggered after a 7-day grace period, and disbursement-channel fees. The customer base is concentrated on payroll-anchored borrowers and segmented vertically by employer sector — government, mining, utilities (ZESCO), NGOs, agriculture, SMEs and general private-sector employees — with employer relationships functioning both as a marketing channel and as the primary collection mechanism via PMEC and DDACC.

Name

GOODFELLOW FINANCE LTD

Legal name

Goodfellow Finance Limited

Website

https://goodfellow.co.zm

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Goodfellow Finance Limited is a Zambian microfinance institution, Bank of Zambia-licensed since 2017, offering payday salary advances and 1–2 month short-term loans to formally employed public and private sector workers through 28 branches in all 10 provinces, a *774# USSD service, and mobile money and bank/payroll-deduction repayment rails.

Ownership category

akta.pro rank

Product category

Consumer Microfinance / Payday Lending

NAICS

Finance and Insurance (52)

SIC

Personal Credit Institutions (6141)

akta.pro industry

PRIMARYFSAKAMAI

Small-Dollar Short-Term Installment Loans (Non-payday)

Financial & Insurance/Lending & Consumer Finance/Payday Loans & Short-Term Credit

SECONDARYFSAKAAAH

Emergency & Short-Term Installment Personal Loans (Unsecured)

Financial & Insurance/Lending & Consumer Finance/Personal Loans (Unsecured Installment)

Keywords

• Microfinance lending
• Payday salary advances
• Short-term personal loans
• Mobile lending services
• Consumer microcredit

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices27 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Loan Interest Income: Primary revenue from interest charged on payday salary advances and short-term loans. Interest rates vary based on loan amount, term, credit history, and employment sector. Interest calculated on reducing balance basis.
2. Processing Fees: One-time processing fee charged upon loan approval
3. Late Payment Fees: Penalty fees charged when payments are not received within 7 days after due date
4. Disbursement Fees: Fees based on chosen disbursement method (cash, bank transfer, or mobile money)

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Goodfellow Finance Limited is an indigenous Zambian microfinance institution that provides payday salary advances and short-term personal loans (1-2 month repayment terms) to employed individuals in the public and private sectors. Loan applications are accepted through 28 branches, an online portal, the *774# USSD mobile service, and phone applications, with funds disbursed via cash, bank transfer, or mobile money and recovered automatically through DDACC bank deductions or PMEC payroll deductions.

Product overview

Goodfellow Finance Limited operates a single-platform microfinance offering centered on payday salary advances and short-term loans, with additional support for Emergency Loans. The core products are Payday Salary Advances (1-month term) and Short-Term Loans (1-2 month terms), both serving employed individuals across public and private sectors. The company distributes these products through multiple service channels including an online portal, a USSD mobile service (*774#), walk-in branch applications (28 locations), and phone applications. Loan disbursement occurs via cash, bank transfer, or mobile money (MTN, Airtel, Zamtel), while repayment is collected through DDACC (bank account deduction) or PMEC (payroll deduction). Service offerings are segmented by sector (Public Sector, Private Sector, SME Support, Agricultural Sector) to meet the unique needs of government employees, mining sector workers, ZESCO employees, NGOs, and small business owners.

Differentiator

Problem solved

Functional benefit

Products and services

• Payday Salary Advances Short-term salary advance product providing employed individuals in both public and private sectors with instant access to a portion of their salary before payday. Features competitive interest rates calculated on a reducing-balance basis and 1-2 month flexible repayment terms collected through DDACC bank deduction or PMEC payroll deduction.
• Short-Term Personal Loans Affordable short-term personal loans for employed individuals requiring funds for immediate financial needs beyond a single pay cycle. Repayment terms of 1-2 months, no hidden charges, with full transparency in the loan agreement.
• Emergency Loans Fast-track loan product with expedited approval and same-day disbursement for borrowers facing time-sensitive financial emergencies such as medical expenses, school fees, or urgent business needs. Disbursed via cash, bank transfer, or mobile money.

Quantifiable outcome

• Same-day approval and disbursement
• +3 more outcomes

Named customers12 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• M-Kopa: Mobile-based pay-as-you-go and small-credit provider across East and Southern Africa. Comparable in its use of mobile infrastructure to extend short-term, small-dollar credit to underbanked customers, with potential to enter the Zambian salary-advance segment.
• Branch International (Branch.co): Digital lender providing small-dollar loans via mobile in multiple African markets. Comparable as an emerging digital alternative targeting similar employed and underbanked consumers; a potential disruptor to traditional branch-based microfinance.

Direct peers

• Letshego Financial Group: Listed African microfinance group offering payroll-deduction-backed loans to employed individuals across multiple Sub-Saharan countries. Highly comparable in product (salary advance / short-term personal loans), employer-integrated recovery, and regulated microfinance positioning.
• VisionFund Zambia: Microfinance arm of World Vision operating in Zambia with small-ticket consumer and SME credit products. Comparable as a regulated microfinance lender serving low-income employed and micro-entrepreneurial customers in the same Zambian market.
• Bayport Financial Services: Pan-African consumer and employee-deduction lender active across multiple Sub-Saharan markets including Zambia. Closely comparable in its salary-based, payroll-deduction micro-lending model, target customer (employed public and private sector workers), and short-to-medium term installment structure.
• FINCA Microfinance Zambia: Microfinance institution operating in Zambia with a focus on financial inclusion for low-income and employed borrowers. Comparable as a regulated domestic microfinance competitor offering small-dollar credit to similar employee and small-business segments.

Regional players

• Zoona: Zambian mobile money and digital payments operator enabling cash-in/cash-out and salary-based services. Comparable as a Zambian fintech providing payment and financial-service infrastructure that could partner with or compete against salary-advance lenders.

Broad incumbents

• FNB Zambia: First National Bank's Zambian subsidiary, offering personal loans, salary-backed products, and digital channels. Comparable as a broad incumbent in the same Zambian retail-credit market with overlapping employee-lending products.
• Standard Chartered Bank Zambia: International bank with Zambian operations offering personal and salary-backed lending alongside broader banking services. Comparable as a large incumbent competing for the same employed customer base with longer-tenure credit products.
• Zanaco Bank: Major Zambian commercial bank providing personal loans, salary-backed facilities, and SME credit. Comparable as a domestic incumbent with broader product suite competing for the same public and private sector employee borrowers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/goodfellow-finance-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GOODFELLOW FINANCE LTD