Emerging market fintech credit provider Lendable unveiled a plan to raise $100 million by the first half of 2022. The resources will be invested in small and medium-sized enterprises (SMEs) to support alternative energy projects and financial services in Africa and Asia.
The investor says it will provide credit to more than 150,000 African and Asian fintech startups. These companies will then on-lend the funds to SMEs working on alternative energy projects and those providing financial services such as payments and remittances, but have limited access to credit. “Through our fintech investments, we are providing essential working capital for MSMEs that enable off-grid customers to buy energy products and open the door to innovative digital banking services to consumers,” said Daniel Goldfarb (pictured), co-founder of Lendable.
The fund investor has been in positive momentum for several months. According to CEO Chris Wehbe, the company is experiencing steady growth this year, with new monthly disbursements of up to $15 million.
Adoni Conrad Quenum (intern)
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
As work on the first phase of the Ahmed Sékou Touré International Airport expansion continues, Guinean authorities have announced their intention to move...
• Loulo-Gounkoto mine remains shut as Mali’s administrator seeks to restart it by selling stored gold• Barrick halted operations in January over export...
Hive Coega has officially entered its construction phase, with tenders now out for its core infrastructure. This milestone comes four years after the...
Côte d’Ivoire, the world’s leading cocoa producer, has set an ambitious target: to process 100% of its cocoa crop at the first stage by 2030. While the...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...