How financial institutions drive SME access to finance in Africa

When Jasent Enterprise asked their bankers for GH¢50,000 to restock their trade, the answer was no: no audited books, no land title, too risky. Last month, they tried again. This time, the CEO’s Ghana Card and two years of mobile money (MoMo) transactions secured her approval within 48 hours. Jasent’s story highlights Africa’s central contradiction: small and medium enterprises (SMEs) create over 80% of jobs, yet they remain largely excluded from formal credit. That is changing—fast—as banks...

By Isaac Yeboah