South Africa’s fintech company, JUMO, which partners banks and e-commerce platforms to “deliver progressive financial choices to customers in emerging markets across Africa and Asia,” announces it has partnered Airtel and Letshego Bank in its quest to grow.
JUMO’s latest partnership is meant to launch a mobile money savings solution in Tanzania. August 30, 2018, saw the official commercial launch of Timiza Akiba in Dar es Salaam, with James Masoy the Managing Director of National Payment Systems for the Bank of Tanzania in attendance.
JUMO says, “Timiza Akiba is a fee-free savings product that adds to our suite of inclusive and progressive financial services and rewards customers for saving towards a business goal or personal buffer.”
With two billion people worldwide having limited access to formal financial services such as borrowing and saving, JUMO connects people with opportunites and this is evident in their new partnership with Airtel and Letshego Bank to launch Timiza Akiba in Tanzania.
Where its customers are mainly micro and small to medium enterprises who need instant access to finance so they can grow and invest, “we’ve built a large-scale, multi-sided technology platform and designed progressive financial choices to reach them,” the company says.
JUMO has served over 8.4 million customers and given more than $40 million loans. Other African countries they are present in, include Zambia, Kenya, Rwanda, Ghana and Uganda.
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