The Corporate Bank for Africa (CBA) wants to be the first Emerging Markets digital bank, first aimed at the African Market with its head office in USA/London (at launch) and operational headquarters in Lagos, Nigeria (at launch). It will provide underserved services, access to finance for individuals, very small businesses and small and medium-sized enterprises (“SMEs”). The C.B.A will provide loans to borrowers who are the “missing middle” of very small businesses and small to medium-sized enterprises that are often unable to receive funding from traditional financial institutions and microfinance lenders.
Recent estimates suggest that only 2% of emerging markets smes (small and medium enterprises) are able to access bank loans, limited access to finance being worse for the missing community as these companies are considered large for microfinance and also small for traditional banks.
|Sectors||Blockchain, Cloud solutions, Fintech|
|Location||NY 14051, United States of America|
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