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Not only does Standard Bank provide an innovative and bespoke approach to our financing needs, their knowledge and understanding of the African continent enables us to achieve our ambitions, says Jesse Moore of MKOPA.
As a Fintech business that has achieved significant scale, MKOPA demonstrates the African continents young, critical and vibrant populations economic potential that makes for an attractive prospect for foreign investors. Africa has significant economic potential, especially for foreign investors, which is why we remain committed to working with MKOPA as it improves financial inclusion across the continent for millions of Africans who struggle to access credit, says Nick Riley, Corporate Financing Solutions at Standard Bank.
For a business like MKOPA to expand geographically, they require a reliable mechanism to raise funding in multiple currencies.
Standard Banks ability to structure and arrange solutions that cater for several currencies means MKOPA is well equipped to hedge the risk of foreign exchange in its funding structure. As the mandated lead arranger and largest funder to the syndication, Standard Bank was the only commercial bank able to bring together all the funders in a structure of this nature, something we are very proud of, adds Riley.
Although the last decade has seen MKOPA grow impressively, they have ambitions to reach a target of over 10 million customers over the next few years, as well as expand further into various African markets.
Over the course of its relationship with MKOPA, Standard Bank Groups panAfrican reach and broad technical capabilities has demonstrated this by delivering tailored and innovative solutions to manage large complex transactions of this nature.
Standard Bank Group remains an important partner in our growth journey, and they remain supportive of our aspirations to ensure that Africa continues to grow and ultimately thrive.