Eleving Group launches South African operations with Cape Town branch

Eleving Group, an international financial‑technology firm listed on the Frankfurt and Riga stock exchanges, secured an operating licence from the South African National Credit Regulator and opened its first South African office in Cape Town in July 2026. The branch, operating under the Bongo brand, offers consumer loans and plans to add more locations in major South African cities, providing both in‑person and digital services.

CEO Mārtiņš Ozoliņš said the company’s advantage is its technology‑driven solutions and experience from other African markets, where Eleving now serves 2.2 million registered users across eight countries. At the end of March 2026 the group’s net loan portfolio was €477.8 million, with 41 % originating from Africa. Founded in 2012 and headquartered in Riga, Latvia, Eleving employs over 4,300 staff and operates in 18 countries on three continents.