Latest stories tagged “credit”
Fintech firm Avenews is enhancing farmers' access to credit in Kenya by utilizing technology and transaction data to assess creditworthiness. According to Avenews Group CEO Jonathan Tseloon, the company analyzes business records such as M-Pesa statements and bank statements, moving away from traditional security methods to improve agricultural financing.
The African fintech industry is transitioning from short-term consumer lending to financing small businesses, driven by increasing regulatory scrutiny and government initiatives aimed at promoting credit in productive sectors. Analysts suggest that this trend will enhance access to finance for Micro, Small and Medium Enterprises (MSMEs), reflecting a significant shift in lending practices within the sector, according to Daily Trust.
M-KOPA Uganda has unlocked over Shs1 trillion in cumulative credit for more than one million customers since its inception in 2013. This milestone highlights the company's efforts to enhance access to smartphones and digital financial services for Ugandans who are typically excluded from traditional banking systems. The announcement also includes the launch of new upgrade benefits for customers.
The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.
Commercial bank credit to Nigeria's manufacturing sector has decreased by N1.92 trillion, attributed to funding gaps and high lending rates that are hindering access to finance for manufacturers, according to Punch.
According to the Manufacturers Association of Nigeria (MAN), commercial bank credit to Nigeria's manufacturing sector fell by 22.5% in 2025. This decline has raised concerns regarding the potential impact on industrial growth and job creation in the country.
M-KOPA Uganda has unlocked over Shs1 trillion in cumulative credit for more than one million customers since its inception in 2013. This milestone highlights the company's efforts to enhance access to smartphones and digital financial services for Ugandans who are typically excluded from traditional banking systems. The announcement also includes the launch of new upgrade benefits for customers.
The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.