2019 BAI Global Innovation Award Finalist

BAI Global Innovation Awards 2019 finalist ABSA Group Limited

Innovation in Societal and Community Impact

Absa Group Limited – South Africa

Absa Group Limited (formerly Barclays Group Limited), in a tripartite partnership with fintech platform JUMO and MTN, a major mobile network operator in Africa, became the first commercial bank in Africa to champion mobile moneylending to underserved segments and small businesses. The offering was piloted in Zambia, where it is known as KONGOLA and provides financial access to millions. Through the partnership, Absa gained a mobile channel through which clients can be onboarded, credit scored and served a lending limit through a cost effective, convenient and easy-to-use medium.