Lidya has raised $1.25 million to expand its financing services for small and medium enterprises in Africa; the funding round was led by Accion Venture Lab and will help the company enhance its credit scoring for small businesses and improve access to small business funding; it is targeting $4.9 million in loans for its first year of business. Source
In collaboration with Energy 4 Impact, UKAid and the CME Group Foundation, the Cambridge Center for Alternative Finance has released a study on crowdfunding and P2P lending in Africa and the Middle East; Lend Academy provides details of the report in their article; covers 46 countries in Africa and 12 countries in the Middle East, featuring data on 70 alternative platforms. Source
The Cambridge Center for Alternative Finance (CCAF) has released its first report on the alternative finance market, titled, "Africa & Middle East Alternative Finance Benchmarking Report"; the report was created with support from Energy4Impact, UKAid and CME Group Foundation; for 2015 the report cites growth of 59% and a total market of $242 million; Robert Wardrop, executive director at the CCAF says development trends in Africa and the Middle East had a different focus which was on equity crowdfunding and online micro finance as opposed to consumer and business P2P lending in other global markets. Source
We often hear news about alternative finance in a few main geographies: the the UK and Continental Europe, the US and China....
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