It all started with curiosity and some conversations in the backseats of ride-hailing cars.
Busisiwe Ndlovu is the Co-Founder of Brown Financial Service. The new startup builds financial tools for South Africa’s gig workers.
Ndlovu discovered that despite steady daily earnings, many South Africa’s gig-workers, especially ride-hailing drivers, fell outside the traditional banking system, often being denied credit or forced to take out high-interest informal loan. Ndlovu states that many of our users are stable and have substantial incomes, but they have been rejected by banks. Others have been forced to predatory lending situations. We hear that no one knows their industry or income patterns.
Brown Financial Services was launched in 2024, and its first product was introduced just six months later–a fuelling credit card and loan designed specifically for eHailing drivers. It allows drivers to access short-term fuel loans between R1,000 and R5,000, with repayments tailored to their income.
Ndlovu explains that fuel is the biggest operational expense for many drivers, but they lack tools to manage their cash flow. “We saw the opportunity to build something which actually works for the way they live and work rather than forcing them into system designed for nine-to five employees.” The application is made via a website, and communication is maintained through a WhatsApp channel. A driver-focused app is being developed and will be launched soon.
Bet on the gig economy boom
This startup is betting on South Africa’s fast-growing gig workers’ economy. Bolt and Uber, according to Stats SA employ over 3 million South Africans who rely on informal or gig work. Over 60,000 drivers.
While ride-hailing platforms and gig workers offer fuel incentives, Ndlovu views them as temporary fixes. “Brown Financial Services will build something permanent. We don’t want to disrupt just for the sake of it. She noted that they are solving real problems.
Beyond Fuel, a complete financial toolkit
Although fuel cards are their first product, the company is laying the groundwork for a broader system of financial services in the gig economy. Plans are in place to expand into vehicle financing, insurance and, eventually, complete financial tools based on earnings. The company claims that it has not yet integrated AI into its operations, and is focusing on building human-centred system that work for drivers real-time. The company claims that all fees are upfront and there are no surprises.
Ndlovu states, “Our vision is that we will be the complete financial partners for gig workers throughout their career.” Mark your calendars. Moonshot by TechCabal will be back in Lagos, October 15-16! Join Africa’s leading founders, tech leaders, and creatives for 2 days of keynotes. Early bird tickets are now 20% off. Don’t sleep! moonshot.techcabal.com
