Thursday
July 9
2020

JUMO Is Offering Social Impact Financial Products to the Unbanked

By Javira Ssebwami

Reimagining finance in emerging markets by extending financial services to the underserved and the excluded has been JUMO’s goal since inception.

This explains why it chose to specialize in social impact financial products where small businesses that are financially excluded can access loans and savings products.

Launched in 2014, the company so far reached 16 million people, with 60% of them working under small and medium-size enterprises (SMEs).

During the same period, they have disbursed over $1 billion and record over 51 million interactions with customers monthly.  Over 120 million people have been connected to financial choices while the cost of transaction has been reduced significantly.

Photo courtesy of AMISOM Public Information.

Source: PML Daily (link opens in a new window)

Categories
Entrepreneurship, Finance
Tags
banking, financial access, financial serivces, LMICs, SMEs, social impact