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Member Spotlight #6 Jumo: Using technology to meet the finance needs of West Africa’s informal sector
30 June 2021
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JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, has been named Platinum winner of the Responsible Digital Innovator of the year award, and Silver winner of the Product Innovation of the Year Award at the 2020 Global SME Finance Forum Awards. The Awards are endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI) were organised by IFC, a member of the World Bank Group and the SME Finance Forum. Launched in 2018, the Global SME Finance Awards were set up to recognize the commitments and distinguished achievements of financial institutions and fintech companies in delivering outstanding products and services to their SME clients and helping them grow.
JUMO was recognised amongst over 100 global participants. The awards were judged by a committee of industry experts, with specific focus on reach, uniqueness and innovation, effectiveness and impact, as well as dynamism and scalability. In this Member Spotlight #6, you will hear directly from our member JUMO and the reasons behind their success.
Using Technology to meet the finance needs of West Africa's informal sector
Entrepreneurs in the informal sector contribute an average of 60% to the GDP of West African countries, yet less than 15% 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.
JUMO currently operates three successful lending products in Ghana in partnership with the local mobile network operator and banks. They recently launched a new lending product for predominantly MSMEs in Ivory Coast and have plans to launch similar services in Nigeria and Cameroon soon. West Africa represents a huge growth opportunity for mobile financial services ecosystems and according to the GSMA, West Africa is the 2nd largest region with mobile money accounts. In this webinar, we will hear from award-winning member JUMO about the opportunities and challenges for scaling in West Africa.
You will learn
• Challenges and opportunities for MSME lending in West Africa
• How partnerships can power financial solutions
• How to design your product to ensure high levels of eligibility
• Working with stakeholders to grow your mission
• The secret to replicating success in new markets
• How to get capital to where it’s needed most
• About the mobile money landscape in Africa - future trends
• The impact of regulation
Moderator and Speakers
![](/sites/default/files/Gillian.jpg)
![](/sites/default/files/Ahmed.jpeg)
![](/sites/default/files/Arnold%20Kavaarpuo1.jpg)
![](/sites/default/files/Bemah.jpg)
![](/sites/default/files/Segun-Adeyemi1.jpg)
To register for the session, click below:
Watch the recording here>
For more information, please contact us at smefinanceforum@ifc.org
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