The Seed Funds (TSF) Savings & Loans company limited, has partnered with 4g capital (a Kenya based Mauritius registered) fintech company to launch the NXTGEN platform in Ghana. NXTGEN platform will enable TSF get deeper the underserved MSME sector across Ghana in an automated and cost effective way.
TSF will use the NXTGEN platform to support the ‘last mile’ retail supply chain by providing working capital credit, blended with 4G Capital’s fintech known expertise to established micro retailers on behalf of large distributors and supply chain aggregators.
4G Capital’s already successful ‘kuza’ product has serviced about 1,400 businesses in Kenya since its launch in 2017. According to a recent survey by technoserve, customers using kuza saw an 82% average increase in revenue over 12 months.
Mr. Wayne Hennessy-barret, the CEO 4g capital said ‘we are proud to stand alongside TSF, showcasing the power of partnership between bank & fintec. Together we seek to address the MSME fintech gap in Ghana which currently stands at over usd4.9billion’.
On this relationship, the CEO of TSF, Mr. Albert O. Mmegwa said ‘we are excited to partner 4G Capital to introduce this very innovative product to the Ghanaian market and also stated TSF’s commitment to partner with more fintech companies to develop and introduce problems solving/everyday life beneficiary financial products & services to Ghanaian consumers’.
citibusinessnews
