Tanzania-based fintech company ClickPesa has unveiled a new digital platform tailored for microfinance institutions (MFIs). Known as ClickPesa MFI, the platform seeks to address operational challenges faced by MFIs, enabling them to better service small and medium enterprises (SMEs) and women-owned businesses.
Since its inception in 2016, ClickPesa, co-founded by Richard Lema and Rick Groothuizen, has been committed to transforming financial operations for businesses. Originally focused on providing a suite of digital payment services, including payment gateways and bulk payouts, the company is now taking a step further to help MFIs overcome barriers to scaling their operations.
According to Lema, ClickPesa’s Chief Operating Officer, the development of the platform followed extensive research involving over 500 MFIs. “Our journey into this space was driven by a commitment to supporting SMEs and women-owned businesses. We identified maintaining cash flow, digitalising payments, and automating data processes as critical to MFI success,” he said.
Built For Impact
ClickPesa MFI introduces innovative features designed to enhance efficiency and accuracy. The platform facilitates digital loan disbursements and both online and offline repayment collections, with real-time reconciliation to minimise manual errors. Furthermore, it integrates seamlessly with widely-used loan management and accounting software, ensuring a streamlined user experience for MFIs.
Beyond offering technological solutions, ClickPesa MFI connects MFIs to funding opportunities, helping them expand their loan portfolios and reach underserved communities. This dual approach empowers MFIs to scale their operations and create broader financial access for their customers.
Lema explained that the platform primarily targets medium-sized MFIs, a group that often struggles with resource constraints. By focusing on these institutions, ClickPesa aims to bridge the gap between operational challenges and growth opportunities.
With its Payment Service Provider licence from the Bank of Tanzania secured last year, ClickPesa is well-positioned to make a significant impact on the financial landscape. The introduction of ClickPesa MFI underscores the company’s mission to support financial inclusion and innovation, particularly for SMEs and women-led enterprises that drive economic growth in Tanzania.
