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JUMO, téléphonie, hommes, afrique
JUMO is a start-up which offers people who are often excluded from the banking system the opportunity to take out loans or subscribe to savings products using their mobile phones. PROPARCO is supporting the development of this innovative company working for financial inclusion.
Client presentation

JUMO is a South African fintech which offers financial products (mainly nano-loans) in real time to unbanked people via mobile phones. Indeed, JUMO has developed a credit scoring algorithm which allows the client’s ability to repay a loan to be estimated based on data on their use of their mobile phone and electronic wallet.

Project description

PROPARCO’s investment in the capital of JUMO is supporting the development of this company. Through its investment in the capital of JUMO, PROPARCO is supporting an innovative project which aims to develop financial inclusion on a large scale.

Project impact

PROPARCO’s financing will support the growth of JUMO and will have significant impacts on:

  • The development of a digital platform service for mobile microcredits in Africa and Asia,
  • The improvement in the living conditions of clients,
  • The support to the informal private sector and entrepreneurs.

Through its digital services, which are relevant in view of the major penetration of mobile phones in the most disadvantaged segments, JUMO is contributing to the financial inclusion of people excluded from the formal banking system. JUMO aims to serve 79 million clients by 2021.

Finally, the project is helping create and maintain jobs (SDG 8), both at JUMO (which currently employs 323 people, including 129 femmes and intends to recruit more than 50 people over the next 5 years) and indirectly, in the informal private sector, by supporting the employment of entrepreneurs and their employees. It is estimated that PROPARCO’s financing will contribute to supporting 1.3 million indirect jobs with the beneficiaries.

Date of signature of the project
Multi-country Global Pakistan Ghana Kenya Uganda Tanzania Zambia
Financing tool
2 420 916 Euros
Amount of funding
Equity investment of USD 3m
Financing details