HomeIndustriesMicrofinance

Microfinance Startups in Africa

Microfinance in Southern Africa remains crucial, with players like Maplerad and Egoras expanding. However, the sector faces challenges: high interest rates, regulatory hurdles, and competition from traditional banks. Local business leaders express concerns about sustainability and the need for innovation in product offerings.

Avg. Deal Size
$2.8M+0%
Active Startups
4+0%
Total Funding
$8.3M+0%
Avg. Growth
0%+0%

Market Map

4 companies in this sector

CompanyTaglineTotal FundingLast RoundTeam SizeBackersAction
AjoMoney
AjoMoney
Nigeria

AjoMoney digitizes traditional group savings, offering secure, transparent credit access for communities.

-
-
-
1-10
No Data
Maplerad
Maplerad
Nigeria

Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.

$6M
Seed
-
2-10
No Data
Egoras
Egoras
Nigeria

Egoras is a Nigerian startup provides uncollateralised micro-credit to small entrepreneurs.

$1M
Private Equity
-
11-50
No Data
KIMS Microfinance
KIMS Microfinance
Somalia

KIMS Microfinance is Somalia’s first and only dedicated and privately-owned microfinance institution.

$1M
Venture
-
51-200
No Data