Key Developments
Mastercard and SAVA Join Forces to Empower African SMMEs With Innovative Financial Tools
Mastercard has partnered with Johannesburg-based fintech company SAVA to bolster financial inclusion for small and medium-sized businesses (SMMEs) in Africa.
This collaboration aims to equip SMMEs in South Africa, Nigeria, Kenya, and Egypt with innovative financial tools to streamline their operations.
Leveraging SAVA’s Payment Transaction System (PTS), the partnership will provide SMMEs with an online platform featuring digital bank accounts and integrated accounting tools. This will significantly enhance expense management efficiency for these businesses.
Mastercard’s commitment to financial inclusion is further emphasized by this partnership, which aligns with its goal of bringing 50 million SMMEs globally into the digital economy by 2025.
“By deploying advanced technology, SAVA simplifies financial management for SMMEs, empowering them to scale their businesses,” Mastercard stated.
SAVA will provide SMMEs with both virtual and physical cards, allowing for pre-configured budgets and easy management through the SAVA app.
SMMEs can manage spending across various platforms and access a wider range of financial services through the SAVA solution.
This initiative by Mastercard and SAVA goes beyond simplifying expense management, as it seeks to empower African SMMEs to embrace digital financial tools and unlock the full potential of the digital economy.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
You may also like...
IFC Proposes $25 Million Investment in African Transition Acceleration Fund
The International Finance Corporation (IFC) has revealed plans to take an equity stake of up to $25 million in the African Transition Acceleration Fund (ATAF), a new vehicle set up to speed up clean-energy and low-carbon transport ventures across the continent.
Nigerian Fintech Mamamoni Secures €250,000 Funding
Mamamoni, a Nigerian fintech social enterprise dedicated to empowering low-income women, has received a €250,000 grant from the Challenge For Youth Employment (CFYE).
SORA Technology Raises Additional $2.5 Million to Scale AI-Driven Malaria Control Across Africa
SORA Technology, a Japanese startup that applies drone and artificial intelligence technologies to public health challenges, has secured an additional $2.5 million in the second close of its late seed funding round.