Zvilo targets €2 billion annual disbursements, names Nigeria in nine-country Africa expansion

European trade-finance firm Zvilo Group Ltd. plans to make Africa its biggest market by 2030, with expansion across the continent expected to drive global annual disbursements to €2 billion. Zvilo Africa Chief Executive Officer Peter Maila said this in an interview with Bloomberg, reported on Wednesday, October 28, 2026.

The London-based company, founded in 2018, provides trade finance and working capital to small and medium-sized enterprises, helping businesses fund operations while awaiting customer payments. Its African expansion covers nine countries, including Nigeria and South Africa.

Sub-Saharan Africa to dominate loan book

Maila said sub-Saharan Africa would account for the majority of Zvilo’s lending portfolio by the end of the decade. “We have ambitions to grow our sub-Saharan Africa business to 60% of our loan book by 2030,” he said.

The African push is tied to Zvilo’s global disbursement targets. Annual financing is projected to approach €1 billion by 2028 before more than doubling by 2030. “We plan to reach €950 million in annual disbursements by 2028, and €2 billion by 2030,” Maila said.

Zvilo has disbursed more than €450 million to about 3,900 businesses across 41 countries. It aims to increase the number of businesses it has supported globally to 15,000 by 2030.

Supplier finance model in South Africa

Zvilo’s strategy centres on financing smaller businesses that supply major corporations, particularly in mining, banking, insurance and supermarket retail. In South Africa, it plans to work with the country’s 20 biggest listed companies as anchor buyers, using their supplier networks to identify SMEs that need working capital.

The model would let suppliers receive payment for their invoices ahead of the buyers’ settlement dates, helping them buy stock, meet operating expenses and pay their own suppliers. According to Zvilo, each of these large companies owes suppliers between R5 billion and R20 billion, with payments generally due within 30 to 60 days. SMEs account for as much as a fifth of those outstanding amounts.

Zvilo opened offices in South Africa in July, with an initial R2 billion working-capital commitment and plans to raise this to R10 billion within three to five years. Maila said half of the initial fundraising target had been secured, allowing deployment to begin.

Beyond South Africa, Zvilo plans to open an office in Sierra Leone before the end of 2026, followed by Nigeria, Kenya, Egypt, Ivory Coast and Tanzania by 2028. Ghana and the Democratic Republic of Congo are scheduled to follow in 2029. Africa is expected to become its largest regional market, but the company wants South Africa to become its biggest individual country market by 2030.

Foreign investors deepen SME financing push

Zvilo’s expansion comes as foreign investors and development finance institutions deepen support for African businesses through working capital, trade facilities and equity investments. In April 2026, British International Investment, the UK’s development finance institution, unveiled a five-year strategy targeting £9 billion in fresh capital for African frontier markets, including Nigeria. BII plans to contribute nearly £5 billion, with the balance expected from private investors. Its priority sectors include financial services, trade, power, transport and digital infrastructure.

In March 2026, BII and UBA UK signed a letter of intent to explore trade finance collaboration across Africa. The proposed partnership aims to expand access to trade and working-capital facilities for businesses, particularly those facing difficulties obtaining letters of credit, guarantees and supply-chain financing. Earlier, in July 2022, BII and INOKS Capital launched a $25 million Trade Access Programme to finance African SMEs and trade intermediaries. The initiative targeted agricultural and food supply chains, including aggregators, e-commerce platforms and financial institutions serving smaller businesses.

In January 2025, Visa invested an undisclosed amount in Moniepoint, following the fintech’s $110 million Series C round. Moniepoint provides payments, bank accounts, credit and business management tools to SMEs.