The focus is especially on micro-entrepreneurs who did not have access to finance before and would like to develop a positive credit record through responsible loan management.

JUMO’s technology reduces the unit economics on the delivery and administration of financial products so that customers can access high-value products at low prices, and partners can reach new markets. “JUMO is rapidly becoming the platform of choice for large banks to deploy capital to new market segments,” says JUMO’s Africa CEO Buhle Goslar. “We’re excited about bringing our proven business model to Côte d’Ivoire and working with our partners to create positive outcomes.”

“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. The roll-out of innovative fintech products like VitKash in the region serves to address this issue,” says Bemah Kone, JUMO’s Country Manager for Côte d’Ivoire.