WONGA | MASHIONISA REPORT

PR and media relations | Collateral development

When Wonga South Africa faced reputational issues, leading from misconceptions of it being a ‘dodgy payday lender’ or loan shark, we were challenged to reposition them as a trusted expert in the formal lending space. By conducting research into the informal lenders that the organisation was being compared to, Wonga was able to distance itself from their practices, while providing pertinent commentary on an overlooked aspect of South Africa’s credit landscape. This allowed Wonga to cement its status as a trusted lender and thought leader, garnering the respect of consumers, regulators and industry leaders alike.

The Informal Lending Report provided an opportunity for Wonga to differentiate itself as a responsible lender, operating according to strict legislative requirements and employing fair lending practices to protect consumers. It allowed us to educate the public about the differences between formal and informal lenders, as well as gain recognition as a financial expert. The Friday Street Club was instrumental in creating hype around our findings and ensuring that the results of our research garnered the interest of industry experts. As a result of this, Wonga was invited to present the findings to industry leaders including the National Credit Regulator, The National Treasury, The Credit Ombud, The Credit Risk Reporting Association, the Department of Trade and Industry and many more

Brett Van Aswegen, Wonga SA CEO

SILVER PRISM Awards winner - Financial Services category 2019 | Wonga invited to present finding to regulators | 6.3 million people reached through earned media coverage