Tech in Africa
Finplus finance group processes over $503 million in a combined transactional volume within the past 4 years. This value covers $430 million in loan disbursements and $80 million allocated deposits. In two and a half years, the group has processed over 1 million loans helping over 100,000 unique MSMEs and individuals gain access to credit. This has shot the total number of borrowers with access to the loans to over 260,000 – a 70% rise from 2018.
The Finplus Group runs software technology that offers fintech-as-a-service to facilitate easy management while scaling their digital operations. Thus far the company has a physical operational presence in Nairobi and Johannesburg. This helps financial institutions in the countries of Uganda, Kenya, South Africa, Tanzania, and Swaziland. Services offered to vary from microlending providers to tier-1 banks while availing innovative products tailored for emerging markets.
Wilson Kageni, the founder and CEO of Finplus described the handling of $500 million validates the work performed. This is a representation of millions of economic transactions powering thousands of livelihoods.
With the global Covid-19 pandemic adversely affecting most sectors of the global economy, Finplus managed to achieve:
- Help individuals and SMEs access credit
- Process over $200 million in transaction value
- Double its revenues by turning its cashflow positive
- Going fully remote
