Hooked onto Africa’s strong growth, the continent has over the past few years been seeing a record high of foreign direct investment, peaking at US$56.3-billion in 2013. Yet, studies still show that medium-sized enterprises (SMEs) are struggling to get their share of the pie.
Freshly launched in Kenya, a relatively new startup called Solvesting has geared up to serve an estimated US$850 000-billion untapped credit market that exists in emerging markets today.
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How is it planning to do this? Well, Solvesting introduces a peer to peer (P2P) lending platform for small to SMEs in emerging markets. Foreign investors, on the other side of the spectrum, can fund SMEs in developing countries, earning financial returns as well as generating social and economic impact.
