Lula, a firm that offers digital financial solutions for small and medium enterprises (SMEs), has announced the appointment of Buhle Goslar as its new chairperson of the board. As stated by Lula, Goslar brings with her substantial experience from the emerging market fintech industry, most recently having served as the CEO of Jumo Africa.
The addition of Goslar to the team comes at a crucial time for Lula, as the company is poised to enter its next phase of expansion, following the completion of a $35 million Series B funding round. Additionally, the company launched its digital business banking platform in 2023.
Upon accepting the role, Goslar conveyed her enthusiasm for Lula’s mission and lauded the strides the company has made in supporting South Africa’s SMEs since its establishment in 2014.
It was a straightforward decision for me to join Lula. The company’s commitment to empowering SMEs resonates with my personal zeal for advocating more inclusive economic expansion,” said Goslar.
She praised the Lula team for their consistent efforts in linking SMEs with vital funding, and the launch of the recently initiated full-service digital bank – the first in South Africa dedicated to these businesses. “The invaluable work Lula is doing for both SMEs and the macro level is inspiring.”
Looking to the future, Goslar expressed her anticipation for the substantial potential Lula possesses to create new standards in SME banking and the subsequent impact on the country’s economic advancement.
“Through further investments in data capabilities, refining user experiences, and establishing new strategic alliances, Lula will continue to set itself apart in the market. Lula’s SME offering emphasizes the ‘missing middle’, a demographic crucial for job creation yet still neglected by conventional banks,” she stated.
Goslar also intends to impart critical lessons learned from adapting to a local market context, growing partnerships, and cultivating customer trust, to back Lula’s strategic aims, mentions the company.
“As a board, we recognize that the recent banking offering positions Lula to be even more inclusive, effectively facilitating SMEs to gain access to better cash-flow solutions. I am enthusiastic about aiding the team’s efforts to service additional female-owned and other marginalized SMEs,” she added.
Goslar asserts that steadfast economies necessitate inclusive growth. Her approach to leadership, to a certain extent, promotes solutions designed to benefit the majority, not just a select few.
Lula CEO and co-founder Trevor Gosling warmly welcomed Buhle’s appointment and expressed his optimism regarding her upcoming contributions. “We are thrilled to have Buhle’s leadership and are eagerly looking forward to reaping the benefits of her considerable experience in the emerging market fintech domain. We are confident she will guide us to meet our ambitious growth goals while safeguarding the highest standards of corporate responsibility.”
