Block-chain based microfinancing for Kenyan food stall owners

Tuesday, April 24, 2018

By Dhivana Rhajgopaul

IBM Research and Twiga Food will be extending access to microloans to 220 food stall retailers across Kenya using a block-chain based financing system.

Twiga Foods which is a business to business logistics platform for kiosks and food stalls were looking to extend their logistic services into a total market ecosystem by adding financial services.
According to Isaac Markus, the IBM Kenya Researcher, IBM has been looking to spearhead efforts for block-chain rollout on their open standards. They selected Kenya to introduce block-chain based microfinancing because their targets aligned with the government’s big four agenda which includes the following:
1. Affordable and decent housing
2. Manufacturing
3. Food security
4. Universal healthcare

Source: IOL News (link opens in a new window)

Categories
Entrepreneurship, Finance
Tags
blockchain, financial services, fintech, microfinance, microlending