Through the partnership, the two entities will provide small businesses in South Africa, Nigeria, Kenya, and Egypt with an online platform, powered by SAVA’s Payment Transaction System, that includes digital bank accounts and accounting integration tools.

Under the partnership, Trade Lenda will offer credits to SMEs to acquire solar energy solutions offered by BaobabPlus to run their businesses.

The loan is expected to support at least 4,000 new SME loans in Nigeria.

Richway beat a host of other banks at the International Standards Excellence Award 2021, to take home the Award for performing exceptionally in a tumultuous year characterized by the negative impacts of COVID-19 pandemic.

IFC announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.