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Akiba Digital

Akiba Digital is a FinTech company that specialises in gathering financial and non-financial data on SMEs and entrepreneurs, in order to assess their ability to qualify for a business loan.

Akiba uses Artificial Intelligence and Machine Learning to score SMEs and entrepreneurs based on their spending behaviours and real time transactions.

Based on this affordability analysis, Akiba then connects them with loan providers providing recommendations that help loan providers make real time lending decisions, such as how much their customers can afford.

The actionable insights Akiba provides helps prompt action, such as nudging and onboarding prospects thereby enhancing the entire mending value chain.

Akiba also provides SMEs and individuals with a financial health tool, that enables them achieve a better risk score in order to access better financing from lenders.


Akiba’s Journey With LevelUp


Tebogo Mokwena, co-founder and CEO of Akiba Digital, says that the LevelUp programme facilitated a much deeper relationship between Akiba and RCS. Because the programme encouraged engagement on a commercial level, RCS is now a client of Akiba’s.

For Akiba, the highlight of LevelUp was the opportunity to present and pitch to various RCS executives. Receiving feedback and validation from a range of stakeholders was both encouraging and motivating to the Akiba team. Additionally, exposure to a community of other entrepreneurs facilitated networking and partnership opportunities.


The Future For Akiba


Tebogo says that the desperation caused by Covid-19 was also inspiration to develop a solution for small businesses that could no longer operate under lockdown. Without credit or collateral, SMEs are unable to receive financing from banks, nor are they necessarily eligible for relief funding. As SMEs are the most vulnerable market in South Africa, Akiba set up a platform that enables them to track their own financial health, as well as facilitate alternative financing from Akiba’s lending partners.

Akiba Digital aspires to become a pan African brand, and Tebogo credits Akiba’s engagement with RCS as  helping to form the resilience the business requires to scale accordingly. For the next few years the company will be focusing on scaling into at least 10 additional markets through the development of new partnerships. Akiba Digital has been fortunate to receive VC funding, allowing them to increase their human resources and finalise their product offering. As Tebogo says, “The sky is the limit from here!”