FIBR, or Financial Inclusion on Business Runways is a new project of BFA in partnership with The MasterCard Foundation. FIBR rethinks financial inclusion by working with a broader set of partners, such as fintech companies and small businesses in addition to traditional banks and microfinance institutions (MFIs), to provide data-driven ways to bring financial services to unbanked and underserved populations.
Visentia sells baby products and has recently started offering mobile money transfers.
We are pleased to announce that we are one of the first three partners of FIBR to launch a project in Ghana. Together with FIBR, we will use data on merchants to generate a credit scoring algorithm that would top up the float whenever the merchants require additional working capital. Right now, these small merchants have a difficult time accessing credit for their business needs. FIBR could help change this by partnering merchants with Nomanini.
Read the original post.