Digitized SME lending on chain is happening in Africa right now…look at Jump Start Africa (JSA), a micro-enterprise lender in Uganda. JSA gave Joseph(below), a building contractor, $9k to buy supplies & grow his business. This loan will enable Joseph to change lives by hiring employees & building homes & businesses for his community.
Earlier this year, Inveniam launched end-to-end digital transactions, the 1st of its kind of in micro-enterprise lending. We use the blockchain as an audit trail to record all aspects of the loan: distributions, repayments, supply purchase & restocking, etc. Later this year, Inveniam will bring its technology to ESG investing in support of JSA’s business development efforts.
In addition to their ongoing focus on some of Uganda’s most vulnerable – women & youth – JSA also addresses the often forgotten middle in so many of these programs, small business operators who often have few open avenues to obtain loans.
Having a verifiable, 3rd party record of all microfinancing activities boosts repayments, curtails local inflation risks & drives up loan demand for JSA as they push further into ESG activities – all laudable, worthwhile & achievable goals. Verified data opens doors for more efficient capital flows. #Inveniam