Mukuru’s foray into SA’s competitive lending market is the focus in this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Andy Jury, CEO at Mukuru.
Last month, Mukuru began to offer loans to its customers for the first time through a new partnership with Jumo.
Mukuru’s financial technology (fintech) platform has a customer base of more than 16-million across 50 countries in Africa, Asia and Europe.
Jury said the company had been working on creating a lending product for three years.
He said the partnership with Jumo allowed them to work with a specialist provider around lending.
Jumo primarily offers savings and credit products to entrepreneurs in emerging markets, as well as technology infrastructure to partners such as mobile operators and banks to assess lending risks, detect fraud and verify the identity of their clients.
The payments executive outlines the company’s new loans offering, the partnership with Jumo, the state of remittances on the continent, regulations and how money flows in Africa.
Producer: Demi Buzo
• Business Day Spotlight is an Arena Podcasts Production.
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