How Zambian Fintech Start-up Eshandi Is Utilizing AI to Drive Financial Inclusion in Africa

Founded in 2019 as PremierCredit, Zambian fintech start-up eShandi has evolved into a pan-African challenger that utilises AI to assess creditworthiness and provide access to loans for underbanked individuals and SMEs, bypassing the need for traditional documentation required by conventional banks.

"eShandi's mission is to build an inclusive financial system that works for all Africans. We are determined to bring financial services to underserved groups, especially women and SMEs, who have historically been excluded from traditional banking," says Chilufya Mutale-Mwila, co-founder and chief visionary officer.

The company leverages alternative data sources and machine learning to build accurate risk profiles. "These sources include mobile money transaction history, smartphone usage, and transaction behaviour on eShandi's platform," Mutale-Mwila explains. "This approach allows us to unlock financial access for potentially hundreds of millions of people across Africa."