BITPESA COLLABORATES WITH GERMAN COMPANY TO INTRODUCE INNOVATIVE NEW SERVICE
A German fintech company known as BitBond is joining forces with East Africa’s beloved Bit Pesa to provide services that would enhance financial access for small and medium sized enterprises (SMEs) in Africa. To learn more about this collaboration, read further.
Bit Bond, located in Berlin, Germany, specializes in offering services that support small businesses in need of loans. Through the service they offer, they connect fixed-income investors with small businesses. The company utilizes blockchain (or bitcoin) to make it possible to access this service cross-borders and globally.
The effect of the collaboration is that, SMEs who borrow money through Bit Bond, will be able to access these monies physically and directly through the mobile money or bank accounts using Bit Pesa. This integration has started operating in Kenya, Nigeria, Uganda and Tanzania.
This new merger represents a new level of convenience made possible for businesses acquiring funds in Africa. CEO and founder of Bit Bond said he was excited for this collaboration as 10% of his company’s global user base came from Sub-Saharan Africa. He also anticipates a first-movers advantage that will allow the companies to further expand that user base exponentially during the next couple of years.
What’s your take on this new collaboration? Could it enhance the development of the continent as a whole? Let us know in the comments below.