Microfinance startup Lupiya has received an investment of $1 million from a US Venture Capital fund Enygma Ventures.
Brighter Investment Investor Relations Manager Belinda Kuglenu argues that although school closures, rising unemployment rates and falling wages may result in delayed distributions to investors, the outlook for "long-term returns remain strong."
As the world continues to face economic turmoil resulting from the COVID-19, communities in Zambia are turning to informal savings groups to cushion the impact of the pandemic.
A federal stimulus program to combat the recent economic downturn is pushing more community banks to embrace financial technology partnerships.
Central banks in Africa are responding to COVID-19 by investing in practical solutions that bring disadvantaged groups into formal financial services, accelerating their ability to recover and build resilience against future crises.