Credit: Wonga’s local chief quits

THE CHIEF executive of the South African unit of Britain’s Wonga had stepped down, a spokeswoman said yesterday. Kevin Hurwitz, who launched Wonga in this country two years ago, resigned at the end of September to pursue other opportunities, the spokeswoman said, confirming weekend reports. Hurwitz would remain in a part-time advisory role and the lender was looking for a replacement. In July, South Africa’s credit regulator ordered Wonga to improve its compliance after finding it did not verify the income of customers. – Reuters