Tech in Africa
Pezesha a Kenya-based FinTech company has clinched first place at the 2020 AFI Inclusive FinTech Showcase after capturing the AFI members as well as a panel of expert judges with powerful online pitches on how their innovative solutions lead to financial inclusion.
Pezesha is Swahili translation for “financial empowerment” and offers a platform for MSMEs to tap into finance pools once matched with investors such as banks, retail lenders, and other microfinance institutions.
Hilda Moraa is Pezesha’s founder and chief executive. During a live feed connection, she spotlighted her company’s role in helping MSMEs across Subsaharan Africa win vital capital required by their businesses.
Pezesha is mainly focused on underserved African markets and just made history as the competition’s second winner. They operate by relying on partners and suppliers to produce credit scores and provide credit access when buying more inventory. This is facilitated by investors who rely on algorithms that diversify risk while enabling lending to small secure businesses.
Last year’s inaugural showcase was clinched by OKO.
Pezesha has created strong links to critical AFI themes such as creating a customer base that is 80% youth and 60 percent women. According to Moraa, over 20,000 youth-run MSMEs have received working capital resulting in the creation of over 1,000 formal jobs and 5,000 informal sector jobs.
Since it’s 2017 launch, the startup has provided over 75,000 loans to MSMEs, educated over 200,000 MSMEs, and disbursed over $2 million across Kenya.
