Member Spotlight With Jumo: Fintech for Formalization of West Africa’s SMEs

Entrepreneurs in the informal sector contribute an average of 60 percent to the GDP of West African countries, yet less than 15 percent of them have access to banks as a source of financing. Financial technology companies are working with banks and e-money operators in the region to build digital financial services as a solution.

VitKash, a new mobile financial services lending product, was recently launched by JUMO in partnership with MANSA BANK and local telco MTN in Ivory Coast. West Africa represents a huge growth opportunity for mobile financial services ecosystems and according to the GSMA, West Africa is the second largest region with mobile money accounts.

In this webinar, the participants will hear from award-winning member JUMO, their funding partner MANSA BANK and multinational mobile telecommunications company, MTN, who are working together to grow MFS in West Africa. JUMO currently operates three successful lending products in Ghana, also in partnership with MTN and has plans to launch similar services to VitKash in Nigeria and Cameroon soon.