Startups, Venture Capital & Innovation
Platcorp Holdings: From Humble Beginnings to Pan-African Impact
Beyond financial growth, Platcorp is committed to social impact, supporting gender equality and SME development across Africa. Its programs empower women and small business owners while contributing to the UN Sustainable Development Goals. As Brett Sievwright says, “Thriving communities grow markets,” proving that profit and purpose can go hand in hand.
Discover how Platcorp Holdings, founded by Brett Sievwright in 2003, transformed financial inclusion in Africa, impacting 2.1M clients and disbursing $6.74B in loans.
A Visionary’s Journey
In 2003, Brett Sievwright, a 32-year-old South African entrepreneur with a background in finance and law, landed in Nairobi with a bold mission: to bring financial services to the millions of Africans left out of traditional banking. At the time, most people told him it was impossible.
“Banks weren’t interested, investors were cautious, and regulators were slow,” Sievwright recalls. “But I saw a continent ready to leapfrog old systems with technology and bold ideas. That’s where real opportunity lives.”
He founded Platinum Credit Limited, the precursor to Platcorp Holdings, with a vision: to provide accessible, affordable, and sustainable financial solutions to individuals and MSMEs across Africa. In Kenya, there was a precursor, the inspiring Peter Kahara Munga, founder of Equity Bank.
Entrepreneur Takeaway #1: Courage and timing often outweigh resources. Vision first, capital later.
Why Kenya Became the Launchpad
Despite being South African-born, Sievwright chose Kenya as the ideal launchpad. The country’s mobile money revolution, growing urban population, and relatively progressive regulatory framework made it fertile ground for innovation.
“Kenya taught me a lesson every day: the right timing and environment can turn a modest idea into a movement,” he says.
Sievwright’s insight was simple: identify a market ready for disruption and move fast. He knew that solving financial inclusion in Kenya could serve as a model for the entire continent.
Entrepreneur Takeaway #2: Strategically choose markets where innovation is rewarded, not punished.
Building from the Ground Up
Platcorp began humbly, with a single office, a handful of staff, and Sievwright’s personal savings. By 2005, backing from the International Finance Corporation (IFC) and European development funds enabled the company to expand its reach.
“We didn’t have a large capital base, but we had ambition, grit, and clarity of purpose,” Sievwright reflects.
The company focused on micro-loans for small businesses, enabling entrepreneurs to grow operations that traditional banks overlooked.
Entrepreneur Takeaway #3: Start lean. Solve real problems for underserved customers, and growth will follow.
Expansion Across Africa
Platcorp’s early success in Kenya laid the foundation for regional expansion. By 2006, the company entered Tanzania, followed by Uganda (2009), Zambia (2022), and South Africa and Lesotho in subsequent years.
Today, Platcorp Holdings employs over 10,000 people, serves more than 2.1 million clients, and has disbursed $6.74 billion in loans since inception.
“Before Platcorp, getting a small loan was impossible. Today, my business has expanded threefold,” says Moses Otieno, a micro-entrepreneur in Kisumu, Kenya.
The company tailors its solutions to local markets, understanding unique regulatory environments, cultural norms, and customer needs.
Entrepreneur Takeaway #4: Adapt your model to local realities. One size rarely fits multiple markets.
Technology as a Force Multiplier
In 2017, Platcorp partnered with Mambu, a cloud banking platform, to modernize operations and scale efficiently.
“Digital isn’t optional—it’s transformative,” says Amina Juma, CTO. “It allows us to reach people who were previously unreachable and level the financial playing field.”
By leveraging fintech, Platcorp streamlined loan processing, improved customer experience, and expanded its reach to remote rural communities and urban MSMEs alike.
Entrepreneur Takeaway #5: Invest in technology early. Scale and efficiency follow innovation.
Social Impact at the Core
Platcorp doesn’t measure success solely in financial terms. Since 2022, the company has been a signatory of the Women’s Empowerment Principles, supporting gender equality and women-led enterprises.
It has also implemented financial literacy programs, trained thousands of SME owners, and contributed to the UN Sustainable Development Goals by increasing access to capital in underserved communities.
“Financial inclusion isn’t philanthropy,” Sievwright stresses. “It’s smart business. Thriving communities grow markets.”
Entrepreneur Takeaway #6: Align profit with social impact. The two are mutually reinforcing.
Overcoming Challenges
The journey hasn’t been without obstacles. Platcorp faced regulatory hurdles, currency fluctuations, and skepticism from traditional financial players. Sievwright emphasizes resilience and adaptability:
“Every challenge is a chance to rethink your approach. Boldness beats hesitation,” he says.
Local entrepreneurs echo this sentiment:
- Fatima Namagembe, an SME owner in Kampala: “Platcorp understood our business challenges. Their support wasn’t just financial—it was strategic guidance.”
Entrepreneur Takeaway #7: Persistence and adaptability are as important as vision.
Conclusion: A Blueprint for Aspiring Entrepreneurs
Platcorp Holdings’ journey—from a single Nairobi office to a pan-African financial powerhouse—offers a blueprint for entrepreneurial success:
- Identify overlooked gaps.
- Launch where conditions favor innovation.
- Start lean, but think continental.
- Leverage technology for scale.
- Align business with social impact.
- Adapt relentlessly.
- Embrace boldness over hesitation.
“Africa is waiting for dreamers who do, not dreamers who only plan,” Sievwright concludes.
Climate, Energy & Environment
Handas Jaba Juice: Kenya’s Khat Revolution
Energy, culture, and African spirit in every sip.
Handas Jaba Juice brings khat’s benefits to a smooth drink.
A new wave of celebration sweeps across East Africa.
Discover how Handas Jaba Juice turned khat into a bold beverage brand, reshaping celebrations with innovation, culture, and African spirit.
From Gin Dreams to Khat Innovation
In July 2024, Brian Kiriba returned to Kenya with a dream: to craft premium gin. But strict alcohol regulations blocked his path.
During this setback, Brian discovered khat, a traditional East African stimulant. Instead of quitting, he saw an opportunity. He decided to create a new kind of product—a beverage that captured khat’s energy without the bitter chewing experience.
The Birth of Handas Jaba Juice
Brian experimented in his old distillery, blending khat extract with hibiscus, fruit juice, and sugar. After several failed attempts (and a few broken blenders), he perfected the recipe.
Handas Jaba Juice offered a smooth, flavorful energy drink. It brought the stimulant’s benefits to a wider audience in a simple, convenient form.
Expanding Across East Africa
Handas quickly grew from Nairobi into other Kenyan towns and eventually Uganda. The drink became more than a product—it became a cultural phenomenon. Similar to what African Spirits Ltd, owned by billionaire Humprey Kariuki was before being placed under administration.
The Kenyan energy drinks market, valued at $320 million and growing over 12% annually, presented perfect timing for this innovation. Handas positioned itself as a unique player with strong regional potential.
Health, Regulation, and Responsibility
Khat remains legal in Kenya but is banned in some countries (DEA fact sheet). Handas takes a responsible approach.
The company emphasizes education and transparency, offering resources such as:
These efforts ensure consumers understand the product and enjoy it safely.
Innovation and the Future
By 2023, Handas evolved into a mission-driven brand. The company plans to launch new khat-based beverages that are healthier and more diverse.
Brian explains: “Our mission isn’t just to sell juice. We want to innovate African beverages and give people a healthier way to celebrate.”
A Toast to Africa
Handas Jaba Juice is more than a drink—it’s a story of resilience, creativity, and African spirit. Each sip reflects innovation, culture, and celebration.
Visit the Jaba Juice Store to experience the revolution, or learn more on our About Us page.
Startups, Venture Capital & Innovation
Kenya Arrests Hacker in $87K Fintech Fraud
Kenya arrests 26-year-old hacker over $87,000 fintech heist. The suspect allegedly laundered funds through dozens of fake accounts. Authorities warn this highlights growing cybersecurity risks in Africa’s digital economy.
Kenya nabs 26-year-old hacker over $87,000 fintech fraud, highlighting Africa’s cybercrime threat amid rapid digital growth.
Kenya Cracks Down on $87K Cyber Fraud
[Nairobi, Kenya] – Kenya has ramped up its fight against cybercrime after police arrested a 26-year-old hacker accused of masterminding one of the country’s most audacious financial scams. The case highlights the growing cybersecurity challenges facing Africa’s rapidly expanding digital economy.
The Arrest in Tatu City
The suspect, Seth Mwabe, was apprehended in Tatu City, a modern mixed-use hub near Nairobi. Authorities allege he breached a local betting firm’s payment system, siphoning approximately KSh11.4 million ($87,000) into multiple bank and mobile money accounts.
From Campus to Cybercrime
Mwabe, a former computer science student at Meru University of Science and Technology, dropped out before completing his studies. Investigators believe his technical expertise in software and networking enabled him to execute the sophisticated hack. Outwardly presenting himself as a tech entrepreneur in Tatu City, he allegedly ran a one-man cybercrime ring, laundering stolen funds through dozens of accounts created under false identities.
Fintech Growth Meets Security Risks
Kenya’s fintech boom, led by platforms like M-Pesa, has made digital transactions easier than ever. Yet, the surge in online betting and mobile payments also exposes vulnerabilities.This May,Equity Bank, Kenya’s biggest lender by customer base faced a fraud crisis,testing its digital leadership.The Communications Authority of Kenya reported over 700 million attempted cyberattacks last year, ranging from phishing scams to high-level payment fraud.
A Regional Challenge
Mwabe’s case mirrors broader trends across Africa. Countries like Nigeria and South Africa have also experienced similar breaches, highlighting that rapid fintech adoption is outpacing regulation. Experts warn that without stronger cybersecurity measures, trust in Africa’s digital economy could be at risk.
The Road Ahead
Mwabe remains in custody as the Directorate of Criminal Investigations (DCI) collaborates with regulators and cybersecurity firms to trace potential accomplices and close loopholes in the betting sector. “This arrest is a wake-up call,” a senior DCI investigator told local media. “Kenya must secure its digital economy before cybercrime erodes public confidence.”
Startups, Venture Capital & Innovation
Britam Plans Wider African Expansion Drive
Britam is accelerating its African growth plans with an imminent entry into Congo. The insurer will rely on acquisitions to scale faster. CEO Tom Gitogo says the move targets markets with low insurance penetration.
Britam eyes growth in Africa with Congo entry, focusing on acquisitions to tap low-insurance markets and diversify revenue.
Britam Holdings Ltd., Kenya’s biggest listed insurer, is stepping up its push across Africa as it prepares to enter Congo. The group is targeting countries with low insurance uptake to diversify income and strengthen its market position.
Britam already operates in seven African countries. Chief Executive Officer Tom Gitogo said the company will prioritize acquisitions over building from scratch, a strategy aimed at achieving faster growth while leveraging existing market structures.
At the same time, Britam plans to deepen operations in its current markets by expanding product offerings and reaching more under-served populations. This, Gitogo noted, will boost earnings and create long-term value.
“Africa presents enormous potential in insurance, given the continent’s low penetration rates,” Gitogo said. “Through acquisitions, we can scale quickly while ensuring sustainable growth.”
The Congo entry marks just the beginning of a broader expansion strategy that could see Britam, which posted record profits in 2023, emerge as a leading pan-African insurer, tapping into rising incomes and increasing demand for risk protection.
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