Tag - borrowing

The cost of Wonga.com’s low-value, one-month loan

I was on my way to present at a conference about the lack of savings culture in South Africa when I first received a press release about Wonga.com. According to their release you could borrow money in six minutes. Six minutes to get a loan!  This was great content for my talk and I used it as an example of what was wrong with our savings industry...