The technology and financial companies Mansa Bank, Jumo, and MTN Mobile Financial Services Côte d’Ivoire have pooled their resources and expertise to launch VitKash. This is a new short-term loan product that particularly targets micro-entrepreneurs. These have very limited access in the country and in the West African sub-region.
VitKash must be able to demonstrate the common commitment of the three companies in favor of financial inclusion in West Africa. It’s a Mansa Bank product that banking technology company Jumo and mobile financial services leader MTN want to see succeed. Thanks to responsible loan management, they will support actors in the informal sector.
Entrepreneurs in the informal sector contribute an average of 60% of the GDP of West African countries, but less than 15% of them have access to banks as a source of finance. The deployment of innovative fintech products like VitKash in the region solves this problem, ”said Bêmah Koné, Jumo Country Manager for Côte d’Ivoire.
In Afrique IT News
–
– .
