Moneda has officially partnered with meCash to introduce Musa, a digital financing platform aimed at small and medium-sized enterprises (SMEs) operating in Energy, Agriculture, and Minerals. The launch marks a significant milestone in expanding access to flexible financing solutions across Africa.
Many SMEs in Africa struggle with access to credit due to collateral requirements, lengthy approval processes, and high-interest rates. Musa eliminates these obstacles by offering fast, flexible loans without requiring collateral. Instead, the platform utilizes technology-driven credit assessments, analyzing real-time business activity, cash flow, and alternative data to evaluate financial capacity.
“Musa is about breaking down the financial barriers that have hindered SME growth for too long,” said Ejike Egbuagu, Group CEO of Moneda. “Energy, Agriculture, and Minerals are crucial sectors for Africa’s development, yet businesses in these industries often face financing challenges. With Musa, we’re providing a seamless, technology-driven solution that ensures quick access to capital.”
Musa is designed to serve multiple African countries, including Nigeria, Rwanda, Ghana, and Kenya. The financing model ensures businesses can access working capital for essential operations, such as scaling production, managing operational costs, and restocking supplies.
Unlike traditional banking systems, Musa focuses on making financing more inclusive, especially for SMEs in rural and underserved areas. By leveraging digital technology, Moneda and meCash aim to close the funding gap and empower entrepreneurs.
A key promise of Musa is fair interest rates. Modupe Diyaolu, co-founder of meCash, emphasized the platform’s commitment to non-exploitative financing, saying:
“As many contracts as SMEs bring, we can support them without high-interest rates. Our goal is to provide businesses with the capital they need to grow—without unnecessary financial burdens.”
The Moneda-meCash partnership is poised to revolutionize SME financing, ensuring that businesses in key industries have access to capital without unnecessary bureaucratic hurdles.
“Africa is a construction site, and we see our role as laying the foundation for long-term growth. By backing SMEs with the right financial tools, we are not just supporting businesses—we are building economies,” added Egbuagu.
With Musa, Moneda and meCash are setting a new standard for SME financing in Africa, making access to capital easier, faster, and more inclusive.
