Kingdom Capital’s Post

📣 Our portfolio company Rubyx, software company specialized in credit scoring and automated lending technologies, has secured a €400,000 loan facility from Proparco to support its new algorithmic lending offering to start-ups and microfinance institutions across Africa. 📈 This investment will enable Rubyx to expand its reach, offering banks, microfinance institutions, and fintechs an advanced algorithmic loan application assessment and automated loan management tool. By facilitating easier access to loan products for African SMEs, Rubyx seeks to bridge the significant financing gap faced by underserved businesses. In doing so, it aims to empower SMEs—the backbone of Africa’s economy. 🌍 💬 According to Denis Moniotte, CEO and co-founder of Rubyx: "This endorsement from Proparco is a strong validation of our innovative credit solutions, which are crucial for fostering economic growth among SMEs in Africa." Read more: https://t.ly/ks593 #VC #Fundraising #FrancophoneAfrica #StartupSuccess #AfricanTech #Saviu #SaviuVentures #InvestingInAfrica

Fintechs in Africa raised ~$1.55 billion in 2023. Here's where the money went 👀 • 63% of the ~$900M in equity raised went to startups in the Banking/Lending category (another 21% to startups in the Payments/Cards/Loyalty category and 5% went to Insurtechs) • Nearly all (97%) of the ~$650M in debt raised went to Banking/Lending startups In total, 77% of the funding raised by fintechs in Africa in 2023 went to Banking/Lending startups. Major players in the Banking/Lending category include digital banks like TymeBank and FairMoney; lending platforms like MNT-Halan, Lula, and Lupiya; and asset financing platforms like M-KOPA, Moove, and Planet42. Download the Africa Fintech Transactions Database & read more insights here: https://lnkd.in/d692wYt3 __________________ 🚨 Afridigest is your intelligent guide to #Africa's #tech ecosystem. Subscribe to the newsletter today as a free reader or paying subscriber to get smarter about tech in Africa: afridigest.com/subscribe.

Swedfund International recently invested $5 million in bridge bank microfinance to enhance #financialinclusion in Côte D’Ivoire. 🔑 'Swedfund anticipates that the loan will enhance financial access for women, boost the growth of MSMEs, and subsequently generate income and employment opportunities in #WestAfrica.' 🔑 ‘Founded in 2006 and operating in 12 African countries across five sectors, Teyliom Finance is a subsidiary of the Teyliom Group. Their main subsidiary, Bridge Bank, operates in Côte d’Ivoire and Senegal, providing banking solutions to more than 10k corporate, SMEs, and retail clients. 💸 Sweden’s Swedfund, a development finance institution (DFI) contributed $5m out of the combined investment of $25m alongside credit fund BluePeak Private Capital. 🗞️By Tapiwa Matthew Mutisi Innovation Village https://lnkd.in/dSm84nZn 👏 For the #FinancialInclusionChallengers reimagining inclusive financial services 🚀Kitanha Toure, I Johanna Raynal I Renzo Mendoza Castro I Catrin Fransson I Roshi Motman I Marie Aglert I Rami Matar I Walid Cherif I Fulton Shiundu I James Courtenay I Team BluePeak Private Capital and Swedfund International …   #fintech #funding #financialservices #africa #credit #lending  

🔎 #AfricaFintech — In H1 2024, around 60 fintech startups across Africa secured approximately $340 million in risk capital through 66 deals, a 70% decrease in total funding compared to the same period last year. The banking and lending sector emerged as the dominant vertical, capturing $0.54 of every dollar of equity and debt raised in 2023. See the full Infobyte here: 🔗 https://lnkd.in/gmAucbBC #LucidityInsights #Fintech #Startups #Africa #Funding #Investment #RiskCapital #Banking #Lending #Payments #Insurtech #VC #Equity #Debt #FinancialServices #TechTrends

Carbon, a leading player in Nigeria's financial sector is announce the completion of the acquisition of fintech startup, Vella Finance through its parent company One Credit Limited, alongside the simultaneous launch of a groundbreaking AI-powered business #banking platform. This dual announcement marks a significant leap forward in Carbon's mission to empower small and medium-sized enterprises (SMEs) with advanced, accessible financial services that leverage the latest in #artificial intelligence. In the coming days, Vella Finance will transition business customers to Carbon Business and offer individual #customers the option to upgrade to business accounts. This move aligns with our commitment to providing optimal user experiences during this period, states Gabriel Ajenifuja, co-founder and CTO of Vella Finance. Carbon Microfinance Bank is a leading digital bank in Nigeria, specializing in consumer credit and banking services for #consumers and SMEs. Vella Finance is a fintech company founded by Mark Afolabi, Segun Fagbami, Tolu Adedayo and Gabriel Ajenifuja that offers comprehensive banking and financial infrastructure for local and cross-border #payments, targeting SMEs in Africa. Vella Finance Chijioke Dozie Mark Afolabi Ngozi Dozie #vellafinance #carbon #fintech #acquisition

𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻𝗶𝗻𝗴 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗧𝗮𝗻𝘇𝗮𝗻𝗶𝗮’𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲 𝘄𝗶𝘁𝗵 𝗗𝗦𝗜𝗞 🌍 Having recently provided an overview of the financial industry in Tanzania, I now want to delve deeper into the sector supported by the Deutsche Sparkassenstiftung für internationale Kooperation e.V. (DSIK). What’s fascinating about this sector is how closely its structure resembles the Sparkassenorganisation in Germany, particularly in terms of decentralization. Tanzania’s Savings and Credit Cooperative Societies (SACCOS) operate much like the regional Sparkassen in Germany. Each SACCOS is an independent entity, serving its local community and responding to its unique needs. These decentralized units are supported by an umbrella organization, the Savings and Credit Cooperative Union League of Tanzania (SCCULT). SCCULT provides strategic guidance and support in developing business models for SACCOS—paralleling the role of the DSGV - Deutscher Sparkassen- und Giroverband in Germany. DSIK’s role here is critical. Drawing from extensive experience in Germany’s decentralized banking system, DSIK focuses on empowering SCCULT and SACCOS to stand on their own. This is achieved through: 🧭𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆: Offering expert advice to help navigate challenges and seize opportunities. 🛠️𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁: Designing financial products that are tailored to the Tanzanian market. 🎓𝗡𝗲𝗲𝗱𝘀-𝗕𝗮𝘀𝗲𝗱 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴: Equipping local teams with the skills and knowledge necessary for sustainable growth. One of the key achievements of this approach has been the transformation of the SELF Microfinance Fund from a development project into a business-oriented microfinance organization. This transition is a testament to the effectiveness of institutional strengthening and the importance of decentralization in building resilient financial structures. The collaboration between DSIK, SCCULT, and SACCOS is paving the way for a more robust financial sector in Tanzania. By leveraging the lessons learned from Germany’s Sparkassen model, we are helping to create a sustainable future for Tanzanian communities. My contact at SCCULT is Shabani Saidi. Not only is he currently working with Luciana Murimi and me on the Digital Competence Assessment, but his positive energy in the office also constantly makes me laugh. Asante sana, brother 😁 What lessons can be applied from decentralized models like those in Germany? Share your thoughts! 💬

✔️ Microfinance, a transformative force in the financial landscape, stands as a beacon for aspiring entrepreneurs globally. Traditional avenues often elude many, but microfinance emerges as a lifeline, offering alternative financing solutions and empowering individuals to turn their dreams into reality. ✔️In an era dominated by #fintech and #digitaltransformation, the financial ecosystem is undergoing a profound shift. This evolution offers a unique opportunity to reshape how financial services reach individuals, particularly in areas with limited access to traditional banking. Strengthening digital financial literacy becomes paramount, empowering individuals to engage with modern financial services. ✔️Collaborative efforts between the European Union, financial institutions, and local stakeholders have the power to shape tailored solutions globally. Harmonizing legislative frameworks and providing targeted financial instruments for diverse demographics, including youth, migrants, and refugees, are crucial steps towards fostering a thriving global entrepreneurial ecosystem. 👉As the EU envisions a substantial annual financing gap of EUR 16.7 billion by 2027, microfinance becomes a significant player in driving this growth on a global scale. 🙏 Embracing microfinance, leveraging digital innovations, and fostering collaborative environments pave the way for a brighter, more inclusive future worldwide. As microfinance continues to unlock entrepreneurial potential across borders, let's embark on this transformative journey together! #microfinance #entrepreneurship #financialinclusion #globalopportunity

Selcom Tanzania's recent acquisition of Access Microfinance Bank is making waves in the industry. A Fintech acquiring a bank is a rare sight, and here's why this development is significant. Traditional banks, often cautious about collaborating with startups, have valid concerns, including safeguarding against fraud. However, Selcom's foray into banking could mark a pivotal shift in breaking these barriers. While immediate changes may not be imminent, this move has the potential to foster partnerships between banks and startups. Navigating the complexities of the banking sector will present challenges, but Selcom's bold move paves the way for innovation and collaboration. As someone with a background in E-Business within the banking industry, I am optimistic about the opportunities this acquisition could unlock for aspiring startups. Rooting for Selcom as they venture into this new arena! #Fintech #Banking #Innovation

Alterna leads the way in supporting underserved entrepreneurs. Just released: Alterna microfinance program has achieved $4.37 of impact for every dollar loaned to borrowers.* Key Highlights: • Largest drivers: Total GDP created & capital for marginalized founders. • Loans are 1.5x larger than peers, at a lower cost of capital. • 50%+ loans to women & 85%+ to Black or persons of colour. Are you an entrepreneur looking for financing? We can help: https://lnkd.in/g2FMs_DY *as reported in The State of the ESG & Impact Reporting Market for Microfinance Institutions, SAMETRICA, 2024 #ImpactInvestment #Microfinance #ESG

As I reflect during this new month, I must say that Pepea Capital, has had a good run in the last couple of years after the grueling COVID-19 pandemic that ravaged most entrepreneurs and businesses across the world. The firm's audacious goal of enabling access to finance for entrepreneurs has never been more relevant and needed in the years that followed. Forming a team of competent individuals and building a network of like-minded partners, investors, and adopting AI has been our strongest pillar. We formed a two-pronged approach that focuses on the demand and supply sides of finance across multiple geographies and industries. In East Africa, our pilot region, there is a growing demand for financial inclusion solutions, especially in rural areas and among the unbanked population. Accessible digital banking, mobile payment solutions, and microfinance products are in demand. To this end, we've partnered with entities that supply Digital Banking Solutions, Mobile Payment Solutions, Microfinance Products, Renewable Energy Project Financing (especially for solar and off-grid solutions), and Healthcare Financing for rural healthcare infrastructure. As Albert Einstein once said "Nothing happens until something moves." The next half of the year will see us foray into Southern Africa and West Africa as we seek to further our noble endeavor. Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, SunCulture, Mastercard Foundation, Mywagepay, Emerald Africa Financing Facility, UK-Kenya Tech Hub, Mercy Corps AgriFin, Moto Hope Capital Andrew Gwadiva, Martin Anker Andersen, Grace N. Njoroge, Margaritta Lilian, Arucy Lionel, Edward Ochuodho, Mauga Moses, Alex Simuyandi