With the launch of the B2B Buy Now, Pay Later (BNPL) pilot, the partners will test affordable and short-term capital for MSMEs in Nairobi (including informal food vendors, micro-retailers, and gig economy drivers). When asked what their most significant operational challenges were, 73% of Nairobi’s street food vendors cited the high cost of goods from suppliers, and 33% cited lack of access to credit.
By providing access to previously hard-to-access financial products, such as BNPL, we’re testing a new way to fill the funding gap for MSMEs in emerging markets, allowing them to grow their businesses and power the economies of the communities they live in.
Learn more about the pilot and the partnership HERE.
