Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, has closed an additional EUR 2.5 million in debt financing from a leading European impact investor whose mandate is to support the growth of MSMEs across the African continent. The investment strengthens Tugende’s balance sheet, allowing it to continue growing its portfolio and address a significant credit demand amongst MSMEs, particularly after the strict lockdowns of 2020 and 2021. Tugende continues to deliver this MSME support with award winning positive social impact to its clients and their beneficiaries. A further accolade for Tugende’s business model was achieved when […]
UsPlus, a fast growing South African based specialist SME financing firm, has on the back of the further successful debt raise through its ZAR 1 billion Domestic Medium Term Note Programme as announced on SENS on 12 May 2022, successfully raised USD 10 million (approx. ZAR 162 million) in debt funding from a leading US Impact Investor. This recent facility will take UsPlus’ book of total receivables to USD 17 million (approx. ZAR 270 million), and broadens the range of blue chip institutional Funders. UsPlus was founded in 2015 in Johannesburg, South Africa, with the mission of providing flexible working capital […]
Finclusion Group Limited successfully consolidated its operations in Kenya and Tanzania, in a transaction that saw it increase its stake in TrustGro SCA Limited (“TrustGro”), Fikia Finance Limited (“Fikia”) and awamo Uganda Limited (“awamo”) to 100%. Further to the consolidation of TrustGro, Fikia and awamo, Finclusion is currently expanding its South African footprint by integrating Commonwealth Financial Services (Pty) Limited (“Medifin”) into the Group building out its BNPL presence materially. Medifin focuses on financing life changing loans to support medical procedures, predominantly originated through medical practitioners (channel partner model). In conjunction with the integration of TrustGro, Fikia, awamo and Medifin, Finclusion […]
