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Nigeria’s KiaKia using big data to offer SMEs access to loans

Nigerian startup KiaKia is helping to make direct and peer-to-peer consumer and SME loans accessible and obtainable for underbanked and unbanked Nigerians without credit histories through its online proprietary credit scoring and risk assessment algorithm.

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News

Vietnam to facilitate SMEs growth through funds, incentives
Increased access to funding and new legislations are among the measures being rolled out by the Vietnamese government to support the country’s small- and medium-sized enterprises (SMEs).Late last month, the Ministry of Planning and Investment (MPI) announced four preferential loan programmes to be made available to SMEs this year under its SME...
Global SME Finance Forum 2017 - Meet our Study Visit Hosts
The Global SME Finance Forum 2017 will be held November 1-3 in Berlin, Germany. This annual flagship event of the SME Finance Forum, which focuses on “digitization of SME finance,” will convene senior executives from financial institutions, fintechs and regulators from both emerging and developed countries. The two day conference taking place on...
The coolness factor in banking
Except for people at Fintech Meetups or students at business schools, no one actually thinks banking is “cool”. For them, it earns money – yes. It is necessary - yes. But cool? NO. The average citizen prefers dealing with his insurance company, rather than sitting down to do his financials, and more people would wear a t-shirt sponsored by a Trump...
Qupital secures $2Mn from Alibaba to expand its SME financing platform
Qupital has secured $2 million in a seed round of funding led by Mindwork Ventures and Alibaba Entrepreneurs Fund. What’s more impressive, apart from the investment size, is that both the firms have invested for the first time in a Hong Kong-based FinTech startup. The round witnessed participation of few other investors including DRL Capital and...
Goldman Says Brazilian FinTech Will Disrupt Traditional Banks
Brazil is seeing a boom in financial technology, which, according to a new Goldman Sachs report, will chip away at the market share of the banks in the country. According to a report in The New York Times , Goldman Sachs’ new report, “FinTech Brazil’s Moment,” shows that greater than 200 financial technology companies located in Brazil should...
SBA Head Urges SMEs To Go Global
The head of the U.S. Small Business Administration, Linda McMahon, spoke in front of the United Nations last week urging small businesses to step onto the global stage. Reports said McMahon is urging the nearly 29 million SMEs in the U.S. to export abroad, telling the UN that just 1 percent of them are currently doing so. “Businesses that export...
Bank Muscat evokes strong response to SME initiatives for entrepreneurs
Bank Muscat, the flagship financial services provider in the sultanate, has evoked a strong response to its unique SME initiatives, which address the requirements of the entrepreneurs in Oman. Stemming from the Royal Directives to promote the SME role in the country’s economic diversification, Bank Muscat is proud to have initiated a series of...
Rating opens doors for SME funding in South Africa
The according of a BB (ZA) rating to Retail Capital, which provides working capital to businesses, will open up opportunities for increased funding to small business and job creation in the sector. This is the first rating for Retail Capital, which was founded in 2011. “Being a rated Financial Institution allows us to access new pools of capital...
BAAC targets SMEs for farming loans
The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) is seeking to enlarge the ratio of farming loans to small and medium-sized enterprises (SMEs) to 40% of outstanding loans by 2020. The move will comply with the government's policy to move farmers upstream in the production process into value-added agricultural product...
Nigeria’s KiaKia using big data to offer SMEs access to loans
Nigerian startup KiaKia is helping to make direct and peer-to-peer consumer and SME loans accessible and obtainable for underbanked and unbanked Nigerians without credit histories through its online proprietary credit scoring and risk assessment algorithm. Launched to the public in November of last year, KiaKia aggregates digital data and utilises...