Small and medium -sized enterprises (SMEs) develop and become more innovative in Africa. This encouraged the visa and the capital renewal, two main players, to take charge of the digital and financial transformation.
Visa and Moniepoint collaborate to improve Africa’s financial inclusion
To stimulate the financial inclusion of SMEs across Africa, Visa has announced an investment in Moniepoint Inc., one of the main fintech platforms of Nigeria. Moniepoint is now a key fintech reader, with 1B + monthly transactions and more than $ 22 billion in total payment volume.
The platform offers different services, including digital payments, access to credit, banking solutions and management tools.
This investment supports Moniepoint’s mission to empower SMEs in Africa. It provides the tools and resources they need to digitally transform the African economic landscape.
In Africa, around 83% of employment is in the informal sector. This collaboration will improve the efforts of the platform to fill the difference in financial inclusion in the content. Visa resources Will help expand the services of Moniepoint in Africa while promoting a more inclusive financial system.
A new investment by Renew Capital to improve FMC financing in Kenya
In Kenya, Sevi, a Fintech company, obtained a strategic investment by Renew Capital. SEVI offers joint -stock financing for wholesalers and retailers in the Consumer goods sector (FMCG) with rapid development.
SEVI is working to take up a key challenge for African SMEs, which is access to the working fund. He uses an innovative “shares now, pay later” model allowing retailers to buy credit stocks with flexible refund conditions. This process provides liquidity and allows suppliers to receive immediate payments.
The company has transformed the operation of actions financing in Kenya using AI to optimize its credit assessment processes.
A shared vision
The two investments reflect an increasing trend in the African Fintech ecosystem. SMEs are considered to be engines of growth and job creation across Africa, and many companies have now committed to supporting this industry.
These partnerships between Fintech companies and their investors prove the important role of technology and innovation in the transformation of Africa’s economic landscape.
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