African Lending: How OZÉ is helping financial inclusion in Africa.

Nigeria economy is significantly influenced by the activity produced by small and medium enterprises (SMEs). This enterprises account for 96% of businesses and 84% of employment. Furthermore, they also contribute 46% to Nigeria’s gross domestic product (GDP).

Nevertheless, SMEs have had a specific challenge since a long time ago. This problem is the lending gap mainly due to the fact that most banks only lend to larger corporate players and more established companies.

One African startup, OZÉ wants to change this. OZÉ has operations in countries like Nigeria and Ghana, and helps SMEs track the data that matters. It then connects them to the financial institutions that can give those loans. The startup received $700,000 in seed funding that helps them fund its expansion. Thus, this Fintech will help a large number of African SME’s to get the fund they need in order to grow and help it´s country economy.