Across Sub-Saharan Africa, many small businesses can’t access capital. In fact, the MSME credit gap in Sub-Saharan Africa is $331 billion. That means African lenders are missing out on up to $80 billion in annual interest income. Why? Because lending to MSMEs is hard. Many are still keeping records on paper, have no formal business education, no credit history, weak or no collateral, and/or opaque operations. OZÉ solves this problem. Its award-winning business app and proprietary credit risk algorithm make it profitable for banks to make no-collateral loans to MSMEs.
The OZE app is habit-forming and lets small business owners track expenses and income. The app uses this information to determine the capacity of a business to take loans. With access to most of the financial information about a small or medium business, making a lending decision regarding that business will be easier.