Financial institution Moneda Invest Africa in partnership with digital wallet provider meCash have inaugurated the Musa app, a innovative solution aimed at transforming Small and Medium Enterprises (SME) financing across Africa.
In a groundbreaking move, Moneda Invest Africa and meCash have formed a strategic partnership to revolutionize credit accessibility for Small and Medium Enterprises (SMEs) in Africa's energy, agriculture, and mining sectors.
The partnership, announced during the Moneda Experience event held on March 14, 2025, in Lekki, Lagos, brings together the expertise and financial capabilities of Moneda Invest Africa with the digital financial technology infrastructure of meCash. The goal is to create a more inclusive lending environment that overcomes traditional barriers in credit accessibility.
The collaboration has birthed a financial solution called 'Musa', an app designed to provide targeted credit solutions for SMEs operating in these key sectors. Musa aims to redefine financial services, enabling better access to credit facilities, thereby supporting the growth and contribution of these SMEs to Africa's economic development.
Musa functions with the discipline and dependability of a traditional financial institution, providing structured financing and risk-controlled disbursement. The app calculates associated risks and offers a real-time dashboard to track completed transactions, making it simple to monitor progress.
At the heart of this transformation are innovative financial technologies via the 'Musa' platform. This innovation improves ease, speed, and transparency in obtaining credit, a significant step towards building local capacity and supporting manufacturing and production, essential for sustainable economic growth and job creation in Africa.
The partnership also focuses on ensuring smooth regulatory adherence and effective risk management for cross-border financial transactions, a crucial aspect for meCash, a cross-border payments platform designed to facilitate seamless financial transactions across global markets.
The event featured a fireside chat discussing how the partnership addresses common challenges in SME financing and supports sustainable credit repayment structures. The discussions centered on the future of credit access for vital SMEs, with the aim of establishing a financial infrastructure that empowers African SMEs, facilitates cross-border transactions, and fuels economic growth throughout the continent.
Musa eliminates the need for traditional collateral and lengthy application procedures for SMEs, sharing the risk with them. Users can enter contract details, such as the nature of the contract, required supplies, funding needs, and risk assessment, on Musa. The app serves as a hub for suppliers, manufacturers, and service providers, giving critical African SMEs access to global capital.
The 'Musa' app was unveiled during the event, marking a significant step towards transforming Africa's financial landscape, focusing on payments and credit accessibility. The gathering included Ejike Egbuagu, Group Chief Executive Officer of Moneda, Modupe Diyaolu, Co-founder of meCash, Adebusola Adegbuyi, Co-founder and Chief Technology Officer of meCash, Precious Ehihamen, Acting Managing Director of Moneda Technologies, investors, members of the press, and other notable stakeholders.
Through this collaboration, Moneda and meCash are working together to overcome traditional barriers in credit accessibility—such as lack of collateral, insufficient financial records, and complex loan processes—by using tailored, tech-driven financial products that meet the unique challenges and opportunities of SMEs in these sectors in Africa.
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