Wonga to open in Africa

The short-term loans provider Wonga has chosen South Africa for its first step in international expansion after trials showed that the country's consumers liked its online service.

Wonga provides short-term loans online to tide customers over until payday. It said it would offer loans of between 100 rand and 2,000 rand (£7.50 to £150) for periods of up to a month to South African customers.

The company, which launched in Britain in 2007 and recently added a Wonga for Business Service, is the market leader for short-term unsecured loans that can only be obtained online.