UPDATE (16 October): We forgot to include another African company, SA fintech Retail Capital, which was placed second in the for its innovation in funding small businesses. The story has been updated to reflect this.
SA fintech startup JUMO and Mauritius based 4G Capital have been recognised by the International Finance Corporation (IFC) and the SME Finance Forum for innovation in small business lending.
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The award was presented to JUMO in Amsterdam on Monday (7 October) during the Global SME Finance Forum Awards, where the startup received top honours in the IFC’s Responsible Digital Innovator of the Year category.
This, while Mauritius-based fintech 4G Capital, which has operations in Kenya and Uganda, won second place in the same category.
SA fintech company Retail Capital was placed second in the for its innovation in funding small businesses.
The awards are organised by World Bank Group member IFC and the SME Finance Forum and are endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI).
JUMO and 4G Capital both won in the same category at the Global SME Finance Forum Awards
The Global SME Finance Awards aim to celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their clients.
This year’s award winners were selected from a pool of 144 applicants. A panel of independent judges chose the winners based on their reach, uniqueness and innovation, effectiveness and impact, and dynamism and scalability.
In a statement today JUMO founder and group CEO Andrew Watkins-Ball (pictured above) said the award recognises JUMO’s unique approach to enabling responsible financial access in emerging markets.
“Our business is centred on a set of customer operating principles which guides all our work – from product development to partnerships and the application of technology.
“This is why we’re very proud to be recognised for our efforts in delivering responsible digital financial services to emerging market entrepreneurs,” added Watkins-Ball.
SME Finance Forum CEO Matthew Gamser said he hopes the winners of the Global SME Finance Awards will inspire SME financiers all over the world to learn from the award winners’ good practices.
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Featured image: JUMO founder Andrew Watkins-Ball (Supplied)
