Tanzanian startup ClickPesa has introduced ClickPesa MFI, a comprehensive financial platform specifically designed for microfinance institutions (MFIs). This platform aims to enhance the services provided to small and medium-sized enterprises (SMEs) and women-owned businesses. Founded in 2016 by Richard Lema and Rick Groothuizen, ClickPesa specializes in offering a range of digital payment services tailored for SMEs.
The company, which secured its Payment Service Provider license from the Bank of Tanzania last year, already operates a payment gateway that facilitates payment collection and bulk payouts. With the launch of ClickPesa MFI, the company is now addressing the operational challenges and financing needs of MFIs, enabling them to better support their clientele.
ClickPesa MFI streamlines digital loan disbursements, manages both online and offline repayment collections, and provides real-time reconciliation. By automating payment workflows, the platform reduces manual errors and enhances data accuracy. Additionally, it integrates seamlessly with popular loan management and accounting software, further simplifying operations for MFIs.
Beyond technological solutions, ClickPesa MFI also offers access to funding, allowing MFIs to expand their loan portfolios. This dual approach helps MFIs to structure their operations more effectively, scale their services, and ultimately reach a larger customer base.
Our journey into this sector was driven by a commitment to supporting SMEs and women-owned businesses. Over the past 1.5 years, we conducted interviews with more than 500 MFIs to understand their challenges and identify the key factors that drive their success in scaling operations and creating meaningful impact. Through these discussions, we identified three critical factors: maintaining immediate cash flow, leveraging powerful digital payment tools, and implementing seamless data automation.
Richard Lema, COO of ClickPesa
The new ClickPesa MFI financial platform is designed to address the unique needs of medium-sized MFIs, which often struggle to scale due to resource constraints. By tackling these challenges, the service enables MFIs to provide better support to their customers, fostering growth and development within the sector.
