Reginald visioned CapitalSavvy as a technology-centric finance firm. Uganda has a massive unbanked population, and education for many, especially in technology, is still paving its way. So they are helping support small-medium enterprises (SMEs) to have access to credit, which is one of the significant challenges in the region.
He highlighted how Monetix, the Swiss-based FinTech company, helped CapitalSavvy to launch a Digital Lending Solution. It is a complete digitized experience from the application of loans, due diligence, and disbursement of the funds.
Mobile Money is a big thing in sub-Saharan and also in Uganda. Therefore, Monetix's platform has integrated with Mobile Money as well.
The banking network in the country is widely undistributed, resulting in most informal people needing help accessing banks. In addition, most people struggle to use technology, such as a simple smartphone. These factors drove people to use Mobile Money to access financial services.
"Monetix Ltd. exposed me a lot more to the technology of BSV." - Reginald Tumusiime.
Digital Lending Solution granted affordability to people. While banks usually ask for requirements such as documents that most small-medium enterprises cannot provide.
On the other hand, because of Europe's relatively low-interest rate environment, CapitalSavvy, with its partnership with Monetix, aims to bridge the money from Europe into Africa. Enable markup and position it where finance is affordable.
"We encourage more Impact Investors to participate, and I believe it will go a long way in solving the issue of pricing and affordability" - Reginald Tumusiime.
Aside from serving Ugandans with a Digital Lending Solution, CapitalSavvy also gives business advisory to the public sector and different government entities. Their advisory arm can offer solutions through feasibility studies and high-end technology to extend the advisory to the government.
Watch the full episode and learn about some of the proposed solutions for Uganda.
Here is the BSV Blockchain episode: Creating a new financial system in Uganda | In the Spotlight – Reginald Tumusiime
Welcome to the new edition this month of the Monetix Newsletter.
Monetix Ltd. is a Switzerland-headquartered FinTech company offering a trusted investment gateway into Uganda and East Africa. We work with a global investor base that emphasizes social objectives beyond an attractive investment yield. Our success is based on strong local roots, technological innovation, and employable skill-building with local talents.
Each week we share international FinTech News in the circle of foreign investors with financial and technological investments empowering Africa.
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