Bad credit score? You're on the Blacklist🕵️♀️
Hello Venturer,
“Where there is data smoke, there is business fire.”
- Thomas Redman
From Nigeria to South Africa to Zambia, more and more African countries are employing data and AI to improve businesses and stimulate economies.
Through advanced data science and artificial intelligence, JUMO, a South African fintech startup, is bridging the SME lending gap in West Africa by accurately predicting the risk profiles of SMEs and matching them to affordable bank capital.
In Nigeria, Blacklist, a new startup, aggregates data to assist fintech companies, money lenders, and other financial institutions identify debtors and frauds to make better credit decisions.
And in Lusaka, data is being used for urbanisation efforts to promote prosperous and inclusive urban settlements that are resilient to support economic growth.
Interested in learning about the unique ways data are used in the aforementioned stories? Stay with me.😁
Adekunle Agbetiloye
Staff Writer.
What's New!
How Jumo, a South African fintech platform, is bridging the West African SME lending gap
Despite their importance, access to capital is a key constraint to SMEs realising their full potential. SMEs are less likely to be able to obtain bank loans compared to large firms. Their sources of financing mostly include internal funds, or cash from friends and family, to launch and initially run their enterprises. This limits their potential to grow and effectively contribute to economic development, job creation and tax contributions. Read to know how Jumo is bridging this lending gap.
Blacklist- The Nigerian startup eliminating chronic debtors one search at a time.
Due to the difficulties associated with obtaining loans, fintech operators have emerged to meet the demands of disgruntled prospective money lenders through affordable payments, flexible savings, and instant loans, among other things. But because of the near absence of real consequences for loan defaulters and less effective tracking methods for loan recovery by digital lenders, borrowers take the paying back of loans for granted. Hence the creation of Blacklist. Learn more.
How artificial intelligence is used to map African cities to improve services and infrastructure.
This innovative technique is a quick, accurate, and cost-effective way to create a detailed digital map with a wide range of applications, including the design and management of critical infrastructure services, land use planning, transportation planning, land tenure, ownership, and administration, and the integration of future census data. Computers are taught what to look for in images using training data; the technology then automatically creates mapping quickly and accurately. Learn more.
10 things Nigerians should know about the World Bank's report on economic migration.
Over the last few years, Nigeria has been on a steady decline. The economy faced the worst recession in four decades last year, the Naira continues to weaken, the labour industry bleeds, and insecurity is at an all-time high. Africa’s giant is the poverty capital of the world. It is, therefore, no surprise that the World Bank’s latest report on the country is somewhat dispiriting. Here's a breakdown of the report.
These 7 digital skills are the most sought after in Nigeria.
Technology is currently steering the compass of global development. The digital economy directly impacts every sector of the economy. And as a result of this influence in today’s world, Nigeria’s teeming young population is investing in diverse digital skills. Here's a list of the most in-demand digital skills.
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