4 African FinTechs driving financial inclusion and growth for women

By Delisha Fernandes

FinTech companies across the globe have presented a remarkable opportunity to address longstanding challenges faced by women in accessing financial services and achieving economic independence. Particularly in regions like Africa, where FinTech is gaining increasing significance, these innovative platforms are proving instrumental in bridging the gender gap in financial inclusion.

As we commemorate International Women’s Day, it’s essential to recognize the pivotal role FinTech plays in empowering women-led enterprises and promoting financial autonomy among women.

Fintech solutions tailored to the needs of women are breaking down barriers that have traditionally hindered their access to banking and other financial services. Moreover, by offering user-friendly interfaces, mobile accessibility, and targeted financial products, these companies are empowering women to take control of their finances and pursue entrepreneurial endeavours.

Listed below are 4 African FinTechs driving financial inclusion and growth for women: 

• Cherehani Africa

Cherehani Africa leverages mobile to provide credit and to distribute tailored financial literacy content to women and adolescent girls who own micro-enterprises in Africa. The business model combines technology and human touch to provide credit to women micro-entrepreneurs in rural and underserved areas. The model is built on top of the proven micro-savings group structures.

• HerVest

HerVest is an inclusive FinTech for women. The platform provides easy access to target savings, impact investments and credit financing for smallholder women farmers and women-owned/led SMEs in Nigeria. It is committed to improving women’s lives through greater access to and use of financial services.

• Mighty Fin

Mighty Fin is a tech-enabled business that offers secured loans to small businesses and individuals in Zambia. The FinTech offers digital financial inclusion for women-owned and women-led businesses to empower them through working capital loans. Using technology, the company has made the traditional loan application process simple, accessible and straightforward.

• Shecluded

Shecluded is a female-focused FinTech company. It provides financial services such as growth loans and insurance to female entrepreneurs in various sectors of the economy. Shecluded aims to bridge the inequality gap by providing equal opportunities and a level-playing field for women to dream and become.