NUMIDA UGANDA
Overview
Numida is a financial technology company based in Kampala, Uganda, that provides unsecured working capital loans to micro and small businesses (MSBs) through a mobile application.
Overview
- Mission: To empower Africa’s overlooked MSBs with digital financial services designed for growth, aiming to enable at least 1 million small business owners by 2030.
- Services: Initially focusing on credit, Numida’s app allows entrepreneurs to track their daily finances (sales, expenses) to build a digital financial record. This data is used to assess creditworthiness and provide quick, unsecured loans.
- Target Market: Small business owners in Africa with daily sales and expenses, such as retail/wholesale shops, salons, and clinics.
- Loan Details: Loans are unsecured, range from approximately $100 to $5,000, and are disbursed via mobile money in as little as two hours (first-time loans may take up to 24-48 hours).