Enhancing Financial Access for SMEs
In a statement on Thursday, Moneda announced that the partnership was formalized at a signing ceremony in Lagos, marking a significant step toward improving financial access for businesses driving Africa’s economic growth.
Musa aims to remove traditional financing obstacles by providing SMEs with fast, flexible credit without requiring collateral or lengthy approval processes. Unlike traditional banks, Musa uses advanced technology to assess creditworthiness based on real-time business activity, cash flow, and alternative data for a more accurate evaluation.
Breaking Financial Barriers
Ejike Egbuagu, Group CEO of Moneda, emphasized the importance of a financing solution tailored to the realities of African SMEs.
“Musa is about breaking down financial barriers that have hindered SME growth for too long. The energy, agriculture, and minerals sectors are vital to Africa’s progress, yet businesses struggle to access funding. With Musa, we are providing a technology-driven solution that ensures SMEs can get financing without unnecessary delays.”
“Africa is a construction site, and our role is to lay the foundation for long-term growth. By supporting SMEs with the right financial tools, we are not just aiding businesses—we are building economies.”
Simplifying Payments and Expanding Access
Precious Ehihama, a key partner in the initiative, highlighted Musa’s role in improving financial operations.
“We’re not just offering financing; we are simplifying how SMEs manage payments and access capital. Musa allows businesses to operate with financial confidence, eliminating obstacles that slow down their growth.”
A Pan-African Initiative
Designed as a Pan-African solution, Musa will provide SME financing in multiple countries, including Nigeria, Rwanda, Ghana, and Kenya.
Modupe Diyaolu, Co-founder of meCash, reiterated the platform’s commitment to fair and transparent financing.
“No matter how many contracts SMEs bring, we can support them without exploitative interest rates. Our goal is to provide businesses with the capital they need to grow—without financial burdens.”
By leveraging digital technology, Musa removes geographical and structural barriers, ensuring rural and underserved SMEs have access to the financing they need to thrive.
