Afritec

What Afritec does

Afritec (Pty) Ltd. is a Botswana-registered, NBFIRA-regulated non-bank consumer lender headquartered in Gaborone that has been issuing personal loans to Botswana-based borrowers — primarily Government employees — for more than 10 years. Its product is a single core instrument: an unsecured personal loan ranging from P2,000 to P800,000 (Product Suites page lists P2,000–P500,000 over 3–84 months; the homepage advertises up to P800,000 over up to 120 months), with scheduled monthly repayments generating interest income as the primary revenue stream, supplemented by a pre-qualified Top-Up facility for repeat borrowing by existing clients.

Loan origination is delivered through a high-touch, multi-channel physical distribution network: 12 branches across Botswana towns, 25+ co-located kiosks inside Furnmart stores nationwide, and a mobile sales-agent fleet operating in 13 towns. Online lead capture is limited to a website "Call Me Back" form and a Facebook inbox (AfritecPersonalFinance), which feed a contact-center-based inside-sales motion. Underwriting relies on standard KYC documents (OMANG, latest payslip, 3 months' bank statements, proof of employment) and third-party credit-bureau vetting via BOTUSAFE, TransUnion ITC, and Compuscan, with applicant data shared only as required.

Afritec operates as a privately held company (registration number BW00000829741), with 51–100 employees, no disclosed parent or institutional investors, and no public funding history. Beyond interest income, the company runs marketing initiatives such as a Nov 2024–May 2025 end-of-year campaign with a P150,000 prize pool to drive loan origination and repeat top-ups. No revenue, ARR, or loan-book figures are publicly disclosed.

Name

Afritec

Legal name

Afritec (Pty) Ltd.

Website

https://afritec.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Afritec (Pty) Ltd. is a Botswana-registered, NBFIRA-regulated consumer lender that has been issuing personal loans of P2,000–P800,000 to Botswana-based borrowers — primarily Government employees — for more than 10 years via 12 branches, 25+ Furnmart kiosks, and a mobile sales-agent network.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Personal Credit Institutions (6141), Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Consumer P2P Personal Loans (Unsecured) (FSAKAHAA)

akta.pro secondary industry

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

Keywords

• Consumer lending
• Personal loans
• Non-bank lending
• Payday lending
• Credit services

Headquarters

HQ city

Gaborone

HQ country

Botswana

HQ region

Africa

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Personal loan interest and repayments: Primary revenue stream: origination of personal loans to Botswana-based borrowers (predominantly Government employees), with loan sizes ranging from P2,000 up to P500,000–P800,000 and tenors from 3 to 84 months (up to 120 months on homepage). Customers repay in scheduled installments over the loan tenor, generating recurring interest income. Top-up loans to existing clients generate repeat/recurring volume.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Afritec originates personal loans to Botswana-based borrowers (predominantly Government employees) with loan sizes from P2,000 up to P800,000 and repayment tenors from 3 to 120 months. Distribution is multi-channel: 12 branches, 25+ in-store kiosks co-located inside Furnmart stores, mobile sales agents in 13 towns, and a website "Call Me Back" form. The company also offers a Top-Up loan facility to existing customers for repeat borrowing.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Loan Standard personal loan product for Botswana-based individual borrowers (predominantly Government employees), with loan sizes from P2,000 up to P500,000 (extended to P800,000 on the homepage) and tenors from 3 months up to 120 months. Repaid in scheduled monthly installments. Eligibility requires an OMANG (national ID), latest payslip, 3 months' bank statements, and proof of employment. Application is free and quotes do not affect credit score.
• Top-Up Loan Pre-qualified additional loan for existing Afritec customers, used for unforeseen emergencies. Accessed by calling Afritec directly, reducing friction relative to a fresh loan application.
• Farm Upgrade Loan Use-case-tied personal loan for farmers/agricultural producers needing capital to start, expand, or maintain a family farm, covering livestock, seed, equipment, operating costs, and soil/water conservation.
• Home Improvement Loan Use-case-tied personal loan for homeowners financing home repairs, remodelling, extensions, new bathrooms, or kitchen remodels to raise property value.
• Small Business Loan Use-case-tied personal loan for small business owners covering inventory purchase, materials, debt refinancing, operating capital, accounts-receivable financing, and land/buildings/tools/equipment purchases.
• Education Loan Use-case-tied personal loan for students covering tuition and education-related expenses to simplify the financing process for studies.
• Travel Loan Use-case-tied personal loan for holidays covering airfares, accommodation, tours, travel accessories, and on-trip spending cash.

Quantifiable outcome

• Loans up to P800,000 with tenors up to 120 months
• +3 more outcomes

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• FurnmartflagshipChannel Partner/ Reseller/ DistributorAfritec operates kiosks located inside Furnmart stores nationwide, using Furnmart's retail footprint to drive walk-in loan origination. The Furnmart co-location channel is explicitly advertised ("Apply for a loan at your nearest Afritec branch or Kiosk — located inside Furnmart stores nationwide") and is central to Afritec's physical distribution strategy.
• TransUnion ITCcoreTechnology or IntegrationTransUnion ITC is one of the third-party credit bureaux Afritec shares applicant data with during credit vetting, "only as much as absolutely required in order to process your application." This is a data-integration partnership essential to loan adjudication.
• CompuscancoreTechnology or IntegrationCompuscan is listed alongside BOTUSAFE and TransUnion ITC as a credit-bureau partner used by Afritec for credit vetting during loan application processing.
• BOTUSAFEcoreTechnology or IntegrationBOTUSAFE is a Botswana credit-bureau partner used by Afritec for credit vetting on loan applications, alongside TransUnion ITC and Compuscan. Data is shared only as required by law or for credit vetting.
• NBFIRA (Non-Bank Financial Institutions Regulatory Authority)coreOthersAfritec states it is "regulated by NBFIRA" and complies with the Consumer Protection Act and Data Protection Act of Botswana. NBFIRA oversight is a regulatory relationship rather than a commercial partnership, but is material to Afritec's operating license.

Scale indicators4 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• Letshego Financial Services: Botswana-headquartered, Botswana Stock Exchange-listed non-bank financial institution providing payroll-based consumer loans across Africa. Closely comparable to Afritec in customer segment (employed borrowers), NBFIRA-style regulatory footprint, and employee-deduction lending model.
• GetBucks (Botswana): Botswana-registered microfinance / consumer lender regulated by NBFIRA, serving similar formally-employed and small-business borrower segments. Comparable in regulatory posture, target market, and personal-loan product offering to Afritec.
• Bayport Management: Pan-African payroll-based consumer lender offering personal loans deducted at source across multiple African markets. Directly comparable to Afritec's employee-deduction lending model and use of employer-payroll infrastructure for credit vetting and repayment.

Emerging players

• FairMoney: Digital consumer lender providing mobile-app-based personal loans to salaried and underbanked borrowers across Africa. Comparable in serving employed-borrower segments but differentiates via instant mobile origination, contrasting with Afritec's physical-channel model.
• Carbon (formerly OneFi): Pan-African digital consumer lender offering mobile-first personal loans across multiple African markets. Comparable to Afritec in consumer-credit product but competes via a fully digital, app-based origination model — highlighting Afritec's branch-and-kiosk model in contrast.

Broad incumbents

• African Bank Limited: South African broad-market consumer finance specialist offering personal loans, credit, and related products to mass-market and salaried customers. Comparable in core personal-loan product but operates as a much larger diversified South African incumbent rather than a niche Botswana lender.
• Capitec Bank: South African retail bank with a large consumer-loans book to salaried and mass-market clients. Overlaps with Afritec on personal-loan products but as a large multi-product incumbent with national South African scale.
• Stanbic Bank Botswana: Botswana-licensed commercial bank offering personal loans to employed borrowers. Comparable in serving the same Government-and-formal-employee segment but as a full-service banking subsidiary of Standard Bank Group rather than a niche NBFIRA lender.
• First National Bank Botswana (FNBB): Major Botswana commercial bank offering personal loans to salaried employees. Overlaps with Afritec on customer segment and product type but is a broad-incumbent bank offering deposits, transactional, and corporate banking in addition to consumer credit.
• Absa Bank Botswana: Botswana-licensed universal bank offering personal loans, overdrafts, and credit facilities to employed and mass-affluent customers. Overlaps with Afritec on the personal-loan product and employed-borrower segment but is a broad-incumbent universal bank.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/AfritecPersonalFinance

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 Afritec