Moneda, a leading financial solutions provider, has signed a strategic partnership with meCash to launch Musa, a digital financing platform aimed at supporting small and medium-sized enterprises (SMEs) in the natural resources value chain.
The initiative, which was unveiled at an event in Lagos, seeks to provide accessible credit to businesses in the Energy, Agriculture, and Minerals sectors without the traditional barriers of collateral and lengthy approval processes.
Speaking at the signing ceremony, Moneda’s Group CEO, Ejike Egbuagu, emphasized the need for a financing solution that aligns with the realities of SMEs operating in Africa’s core industries. He noted that Musa was designed to eliminate financial bottlenecks and provide seamless, technology-driven access to capital, enabling businesses to scale operations and manage costs efficiently. Unlike conventional banking systems, the platform leverages real-time business activity and alternative data to assess creditworthiness.
Precious Ehihama, a key partner in the initiative, highlighted Musa’s role in streamlining payments and enhancing financial flexibility for SMEs. According to her, the platform goes beyond lending by ensuring that businesses can access and manage funds with ease. This innovation is expected to drive growth, particularly in underserved regions where traditional financing has remained a challenge.
Modupe Diyaolu, co-founder of meCash, reaffirmed the partnership’s commitment to fair and transparent financing, stating that SMEs would receive capital without exploitative interest rates. She noted that the initiative is structured to serve multiple African countries, including Nigeria, Rwanda, Ghana, and Kenya, reinforcing its Pan-African focus. By removing geographical and structural limitations, Musa aims to reshape the SME financing landscape across the continent.
With Moneda’s track record in investment and alternative credit solutions, the firm is set to drive long-term growth in Africa’s natural resources sector. Having executed over $200 million in credit trades into Africa over the past decade, Moneda recently launched a $250 million credit fund to expand collaborative funding programs across the region. The launch of Musa marks a significant step in fostering sustainable SME development, ensuring finance serves as a bridge rather than a barrier to economic progress.