Founded with a mission to empower African micro businesses, Numida provides working capital loans through a user-friendly mobile app. The company aims to replace informal lending practices by offering a streamlined, digital solution that allows business owners to apply for loans in minutes and receive funds within a day. Numida focuses on cash-based businesses that lack digital transaction histories, primarily targeting markets in East Africa. Their innovative approach ensures accessibility and rapid financial support, fostering growth and stability in the micro-business sector.
Numida has garnered significant achievements since its inception, including disbursing $23 million in working capital to 32,000 businesses across East Africa. The company operates under the regulatory frameworks of the Uganda Microfinance Regulatory Authority, the Personal Data Protection Office, and the Financial Intelligence Authority. By maintaining excellent collection rates and providing unsecured loans, Numida has made a substantial impact on the economic landscape for micro-entrepreneurs in the region.
