South Africa

Washington D.C. and Johannesburg – October 2, 2025 — Nedbank Group, a leading financial services provider has joined the SME Finance Forum as the network’s newest member. As part of a 200+ member alliance spanning 190 countries, Nedbank underlines its commitment to driving SME growth through digital innovation, business support, and new approaches to inclusive finance. Nedbank has won numerous global awards as “Best SME Bank in South Africa”* in recent years, including consecutive awards for the past four years from the Asian Banker.

“We are delighted to welcome Nedbank Group to the SME Finance Forum,” said Qamar Saleem, Head of the SME Finance Forum. “Their deep expertise in SME banking, commitment to innovation, and focus on sustainability will enrich our global community and help us collectively address the financing gap faced by small businesses.                                                                                           

Nedbank’s dedication to small and medium-sized enterprises is reflected in the comprehensive suite of payment, lending and business support services tailored to the SME market, its extensive network of over 500 small business bankers in over 200 locations’and the many business development initiatives the bank drives to promote entrepreneurship in the country. The bank’s specialised services extend to sectors such as medical, franchising, and agriculture. Within the developing township economy, Nedbank continues to innovate and leverage partnerships to co-create solutions with clients that unlocks value for both parties.

"The Global SME Finance Forum (GSMEFF) is a great platform that brings together leading institutions to share knowledge and best practice as we challenge each other to scale SME finance globally.”, said Andiswa Bata, Group Managing Executive: Business and Commercial Banking at Nedbank. “By joining this forum, we are excited by the opportunity to contribute positively to this cause, and also leverage the resources and expertise of the forum to have a greater impact on our SME clients and the broader communities in which they operate. Forums like the GSMEFF shine the spotlight on the fact that no single institution can close the SME financing gap alone. If we want SMEs to thrive, we need innovation, inclusivity, and collective action. Hence, as Nedbank, we feel deeply privileged to announce our membership in the forum; and are truly excited to make a difference, together."

SME Finance Forum: Innovation & Partnership for MSMEs Growth 

The SME Finance Forum, backed by G20 and IFC/World Bank, is the leading global network of 200+ members/affiliates operating in 190 countries. Network comprises of SME focused institutions providing and enabling finance and services- banks, non-banks financial institutions, fintech, payment platforms, development institutions, credit guarantee companies, insurers, investment funds, supply chain linked players, banking and SME associations, policy advocates, regulators, academia, consulting houses, knowledge aggregators.

Our members, affiliates, and associated stakeholders benefit from learning/replicating best practices from across the world, innovating new products for business growth, acquiring risk mitigation tools, establishing partnerships, attracting investors, and being recognized amongst a peer group of global innovators. Our products consist of “members only” solutions (like innovation hubs, solutions clinics, peer group networks, study tours, specialized tools and trainings, member portal repository, partnered initiatives) as well as public good services (200+ publications library, 500+ videos, webinars, newsletters, trainings, annual awards, annual event etc.

*Nedbank has consistently been recognised internationally as the Best SME Bank in South Africa, having received awards from multiple global institutions: The Asian Banker – Global Middle East & Africa Awards (Best SME Bank in SA: 2022 - 2025), Global Finance Magazine – Global Finance Awards (Best SME Bank in SA: 2024), Global Banking & Finance Review – Global Banking & Finance Awards (Best SME Bank in SA: 2024), and The Digital Banker – Global SME Banking Innovation Awards (Best SME Bank in SA 2025). These accolades reaffirm Nedbank’s leadership in SME banking, its commitment to innovation, and its focus on enabling the growth and success of small and medium-sized enterprises.

Discover the SME Finance Forum members/affiliates and LinkedIn:

https://www.smefinanceforum.org/members/member-list

https://smefinanceforum.org/about/partners

https://www.linkedin.com/company/sme-finance-forum-managed-by-ifc/

About Nedbank Group

Nedbank Group is a bank holding company listed on the JSE Limited, with a market capitalisation of R137bn as at 31 December 2024. Nedbank is one of Africa’s largest banking groups, with operations in South Africa, Namibia, Eswatini, Mozambique, Lesotho and Zimbabwe, and offshore in the Isle of Man and Jersey. It also has representative offices in other Africa countries, including Kenya, and has key global financial centres to provide international banking services for SA-based multinational and high-net-worth clients in London and Dubai. The group is a diversified financial services provider, offering a wide range of wholesale and retail banking and financial services. Nedbank has maintained its level 1 BBBEE status for the past 7 years and rates in the top quartile of local and international banks on ESG scores.

Learn More:

Website: group.nedbank.co.za

LinkedIn: Nedbank

Facebook: Nedbank

X: Nedbank

Instagram: Nedbank

TikTok: Nedbank

YouTube: Nedbank

The B20, Business at OECD and the International Organisation of Employers (IOE) released a joint paper, underlining the need to mobilise further capital towards African nations by focusing on investment-focused strategies. Released in the context of the handover ceremony of the B20 recommendations to the G20, the three leading private sector organisations highlight that long-term capital, innovation, and private sector participation are critical to building resilient economies.

As illustrated by three concrete use cases from the World Bank Mission 300, the Verifiable Trade Foundation and payment innovation solutions in Nigeria, the joint paper emphasises the role of country-led funding platforms as economic multipliers to unlock economic growth, boost productivity and ensure better inclusion. Leveraging on the “Sustainable Growth Propeller” framework initiated under the B20 Presidency in 2022, this publication provides pragmatic recommendations to maximise the impact of these funding platform in generating re-investable returns and building resilient supply chains.

As outlined by Gianluca Riccio, Chair of the Business at OECD Finance Committee “true progress comes from sparking self-sustaining economic opportunities that attract long-term capital, boost private sector participation, fuel innovation, and build robust local capacity. For example, boosting firms’ working capital through early-payment platforms at national level can accelerate both employment and enduring economic growth.”

Implementing Funding Platforms:  A Solution to Fragmentation - Click Here to Download

• Inclusive fintech startups are early-stage, venture-backed enterprises creating innovative credit products for microenterprises in emerging markets, which holds great promise for the future of microenterprise finance.
• In this note, we highlight strategies employed by fintech startups that benefit microenterprises via three core innovations: improved use of data and analysis innovations; channel partnerships for reach and distribution that increase convenience for microenterprises; and tailored pricing and loan terms that better match loans to microenterprises' cash flows to limit repayment pressure and risk of over-indebtedness.
• This focus note features a range of case studies based on CGAP’s work piloting microenterprise finance products and primary and secondary research, providing an illustrative view of microenterprise fintech models' potential and realized impacts.

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CGAP is a Strategic Partner of the SME Finance Forum

Johannesburg, 6 February 2024 – MTN’s Mobile Money Platform, MoMo, and banking technology company JUMO have partnered to launch Qwikloan, which offers affordable, short-term loans in South Africa and will drive financial inclusion across the country.

Qwikloan enables MoMo users to obtain small, short-term loans on their mobile phones, ranging from R250 to R10,000 depending on eligibility, through a seamless application process available via the MTN MoMo App or USSD (*151#). Qwikloan is able to reduce the cost of lending to a customer by leveraging MTN MoMo’s payment infrastructure and JUMO’s core banking infrastructure with AI prediction capabilities.

Bradwin Roper, Chief Financial Services Officer at MTN South Africa said: “MoMo’s Qwikloan offering is a testament to our dedication to providing financial solutions that prioritise accessibility and affordability. In these challenging economic times, our goal is to empower South African consumers by offering a reliable alternative with significantly lower interest rates compared to banks.”

Qwikloan has been available to smartphone users in South Africa via the MTN Mobile Money app since December 2023. Now, opening up access to include users of feature phones via USSD will enable all South African individuals and informal traders to fund productive and sustainable ventures, without the need for costly data or smart mobile devices.

Joe Mucheru, JUMO President said: “Our work with MTN will support entrepreneurs who need simple, quick access to working capital to grow their businesses. This work demonstrates how partnerships between financial technology companies such as JUMO, and mobile money providers are essential to driving financial inclusion and creating more opportunities for customers to borrow and save conveniently. There is even greater potential to grow eligibility and accessibility by introducing bank partners to the initiative. Working with partners to build the infrastructure they need to achieve their goals is what we do.”

The collaboration targets South Africa’s entrepreneurs and the informal sector while JUMO’s intelligent banking technology aims to reduce unit economics, making high-value products accessible at low prices. This partnership aligns with both MoMo and JUMO’s missions to foster financial inclusivity, ensuring that all South Africans, whether on the MTN network or not, can benefit from this financial service.

Qwikloan is available to both prepaid and postpaid MoMo registered customers. To apply for a loan, users simply need a registered South African ID number and must undergo a credit affordability check. Upon approval, funds are deposited directly into the user’s MoMo wallet, with repayments collected from the same wallet. Consumers can register and apply through the MTN MoMo App or USSD (*151#).

ENDS

About the MTN South Africa

Launched in 1994, MTN South Africa is a subsidiary of MTN Group, a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN’. Our strategy is Ambition 2025: Leading digital solutions for Africa’s progress.

About JUMO

JUMO was founded in 2015 and is the market leading Banking as a Service platform that uses AI to power financial services in emerging markets.

JUMO offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks.

The platform has two foundational capabilities:

●  Core – which provides end-to-end, next generation banking infrastructure;

●  Unify – the Artificial Intelligence processor that transforms data to reduce the cost and risk of lending.

In just over nine years of operation, JUMO has enabled the disbursement of more than US$5billion in loans and reached over 26 million customers and small businesses. They are active in seven markets including Ghana, Tanzania, Kenya, Uganda, Zambia, Côte d’Ivoire and South Africa.

JUMO earned B Corporation certification in September 2022, joining an international movement of 5,787 purpose-led businesses that meet B Corp’s high standards of social and environmental performance, accountability and transparency.

www.jumo.world

For media enquiries, please contact:

JUMO@brunswickgroup.com

+44 20 7404 5959