MyJHB

Stuff from Johannesburg

Smartadvance launches low-cost lending alternative for employee wellness partners | MyPR.co.za

MyPR: Smartadvance launches low-cost lending alternative for employee wellness partners:

Smartadvance, a registered credit provider and online lender recently launched their new wage streaming product which aims to assist employees of their current wellness program with emergency funds at a much lower cost than a personal loan, in a safe and secure environment.

Wage streaming is a service that allows employees to access a portion of their salary owed to them for the month but that has not yet been paid. Employees can access a percentage of their salary paid directly into their personal bank account at any point in the salary cycle, for a low, affordable fixed fee.

Wage streaming has become a more widespread trend as the cost of personal loans have become more expensive to many consumers. Today, there are an estimated 22.5 million credit active users in South Africa, and about 41% of these are considered to be high-risk borrowers, and possibly overindebted, unable to meet monthly commitments.

“Our financial wellness programme, run through smartadvance enables us to assist employees of our payroll partners with the funds they need for everyday emergencies without compromising their financial wellbeing and at a cost of less than 10% of a traditional pay-day loan.” Says Mark Young, CEO of smartadvance South Africa.

Employees can stream their chosen amount with the option to be paid in tranches or in full at a flat fee charged per transaction.

Due to the diversity of consumers within the payroll partners, smartadvance have considered accessibility for their customers making the wage streaming service available via USSD, online or via the smartadvance app.

“We understand and listen to our customer concerns or difficulties which is why we have launched this product. It provides access to affordable emergency finance to a range of consumers that might not have been able to access as cost-effective solution from the mainstream market,” concludes Young.

CLICK HERE to submit your press release to MyPR.co.za.

– MyPR

CLICK HERE to submit your news to www.MyPR.co.za.

Click here to submit your Johannesburg, Gauteng News – free.

Have you tried: Reach Trust for Solar and Building Management?

Did you know this about Johannesburg? Boiling an egg takes one-minute longer: Your cobb salad might take a little bit longer than usual. Johannesburg is 2000m above sea level so the air is not as dense.

Category: Tag: , , , , , , , ,

Museum Africa: The Memory of the Market

Long before it was a sanctuary for artifacts, this building was the Johannesburg Municipal Fruit and Vegetable Market, completed in 1913. At the time, it was an architectural marvel of the industrial age, featuring a massive, vaulted roof supported by reinforced concrete and steel—a design intended to keep the produce cool in the biting Highveld sun. The site was chosen for its proximity to the railway lines, allowing fresh goods from across Southern Africa to be funneled directly into the heart of the city. For decades, it was a place of frantic, multi-racial commerce where the air was thick with the smell of citrus and the shouts of auctioneers. In 1994—the same year South Africa held its first democratic elections—the market was transformed into Museum Africa, symbolically turning a site of physical sustenance into one of intellectual and historical nourishment.