The FMCG industry represents a very significant chunk of the African economy where a large majority of working adults are engaged in trade. From the neighbourhood shop to wholesale and distribution activities, the consumers and mSMEs in this sector represent by far one of the largest contributors to the continent's GDP. The sad part is that banking and digital financial services have struggled to take hold as the sector is still cash heavy and credit is only made possible informally within the value chain - Which doesn't have the required liquidity. Embedding financial services within the the ecosystem has a potential to create significant gains to eliminate some of the problems.
For the past eight months, the plumbers of OnePipe have been hard at work putting finishing touches to our banking as a service proposition. Here are our thoughts around how we see the market and how this view on the market is what's driving this direction.