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Avenews launches an Agri-Finance Super App in Kenya

Emmanuel Murai, Avewnews kenya Country Manager

Avenews, a multinational financial technology company, is building the first financial super app for Kenya’s Agricultural Small and Medium Enterprises (agri-SMEs). 

The super app provides a comprehensive financial management tool that enables advanced ML (machine learning) algorithms to process hundreds of data points and create personalized financial products – including access to digital credit.

The one-stop-shop app assists agribusinesses with operations and team management, as well as digital invoicing and payments. Avenews’ Country Manager, Emmanuel Murai notes: “Agri-SMEs are the driving force behind Africa’s economic growth, but their financial needs often go unmet. With Avenews, agri-SMEs can finally make informed financial decisions and unlock a credit facility that will have them achieve their full business potential,” said Mr. Murai.

According to the World Bank, SMEs make up about 90% of business globally and employ over 50% of the workforce contributing up to 40% of the GDP in developing countries. However, agri-SMEs receive only 2-7% of total bank credit. An estimated 2.5M agri-SMEs are in need of financing solutions in Sub-Saharan Africa alone, resulting in an $80 billion finance gap in the sector.

Avenews is providing a solution that includes an ML-powered credit platform for agri-SMEs to power their businesses, an operating system for agri-SMEs to manage their businesses, payments and digital banking services suitable for businesses, and an API marketplace for third-party services.

“With the Avenews Super App, businesses can access the capital they need through a high loan value. We encourage agri-businesses to unlock their full business potential by downloading the application whether for loan application or any other services they might need,” concluded Mr. Murai.

About author

Tech Arena is an independent technology news website that mainly covers social media news, mobile and gadget news and reviews, apps and software among others. The site focuses on tech news from all over the world that directly impact Kenya.
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