Bitpesa, a bitcoin company in Africa has started a fresh partnership with German Bitbond in oder to meliorate the SMEs financing in Africa. This is going to be achieved by lending through blockchain payment processing which is across borders.
Bitpesa is a universal digital payment and trading platform for businesses in Africa. Bitpesa allows smart and low-cost medium of sending and receiving money within frontier markets. Bitbond is also a bitcoin company but it’s based in Berlin, Germany. Bitbond is one of the leading SME lenders around.
To the effect of this partnership, chosen applicants who are to receive funds through Bitbond can now receive their loans in local currency i.e not only bitcoin. This means that these individuals can receive the money either through their standard bank accounts or mobile money accounts, interesting right? That’s creating a multi-choice of receiving the loans in any form of currency as it pleases the borrower.
“10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing,” said the Founder and CEO of Bitbond, Radoslav Albrecht in a release from the press.
The multi-choice advantage of selecting the type of currency to be paid in has already been implemented in Nigeria, Kenya, Tanzania, DRC and Uganda.
To emphasize on the above statement, Radoslav Albrecht added, “This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. This is an unprecedented level of innovation and convenience in the entire online lending space.”
“We are always excited to partner with companies that make doing business in Africa easier and more efficient. Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth,” said the founder and CEO of Bitpesa, Elizabeth Rossiello as she wasn’t short of elation about the new development.
Certainly I have to say, the payment channels in Africa will definitely be improved with this fresh partnership thereby offering more financial power to growing small enterprises in Africa.