YIBA - You're Invited Banks Aren't. The old fashioned way of saving and lending involved banks. The new way, the Yiba way, is to lend & borrow safely and securely amongst ourselves. Yiba invites South Africa, and soon Africa, to invest or borrow money just like a bank - both sides win! Better rates to borrowers and better returns to investors. It's that simple.
A disruptive tech start-up will be going live in Q1 of 2014 with an alternative financial product which will be revolutionary to the South African and African consumer lending marketplace. The product and the company have already gained strong support in the press, on social media and on the pledge site established to gain groundswell for the launch.
Yiba.co is a developing an innovative peer-to-peer (“P2P”) lending platform. P2P lending is the practice of lending money to unrelated individuals, or "peers", without going through a financial intermediary such as a bank or other traditional financial institution.
The founder team is a team of five members, their skills include legal, banking financial services, coding and development. The team has extensive African and South African financial services experience.
P2P platforms exist online and have the inherent advantage of national coverage. Yiba.co is headquartered in Johannesburg. The market of first entry is South Africa; thereafter a strategy to expend into specific African countries is in place.