ClickPesa and Pendulum have united in a technology partnership aiming to revolutionise financial accessibility for SMEs in East Africa.
Leveraging Pendulum’s DeFi solutions on the Pendulum blockchain, which incorporates Polkadot and Stellar technology, the partnership aims to empower Microfinance Institutions (MFIs) capable of serving SMEs effectively, starting its impact in Tanzania.
The initiative offers improved accessibility and interest rates for MFIs in emerging markets. It presents tangible yield opportunities for DeFi investors within the Pendulum ecosystem while making a positive impact in developing regions, aligning profit with a broader social purpose.
Through this collaboration with Pendulum, it is hoped that ClickPesa will be able to facilitate the ClickPesa Debt Fund, enabling Microfinance Institutions with enhanced financial capabilities to serve SMEs and women-led enterprises in Tanzania effectively.
Richard Lema, COO of ClickPesa, which runs the ClickPesa Debt Fund, said, “We are thrilled to announce this strategic partnership with Pendulum. Their commitment to driving financial inclusion aligns perfectly with our mission to empower SMEs and women-owned businesses in Tanzania. Together, we will leverage the power of blockchain technology to create a more inclusive and efficient financial ecosystem for all.”
Daniel Kisluk, CMO & co-founder at Pendulum, said, “Pendulum is excited to collaborate with the ClickPesa Debt Fund in their mission to support SMEs and women-owned businesses in Tanzania through MFIs. We believe that the fusion of ClickPesa’s financial services expertise with Pendulum’s Web3 technology will lead to transformative financing solutions for MFIs, unlocking new opportunities for growth and prosperity.”
It is expected that this Debt Fund will usher in a new era in Tanzanian FinTech, with financial inclusion across the sector expected to be bolstered exponentially.
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