The founders of Africa Courier Express (ACE) are venturing into online financial services with Lidya
Africa Courier Express (ACE) co-founders, Tunde Kehinde and Ercin Eksin just announced the impending launch of Lidya, a financial services platform that’ll provide unsecured loans of between $500 and $15,000 to SMEs in Africa.
Lidya is going to be a “digital bank” (i.e. no physical branches) and users will be able to do everything they normal would with a bank – open accounts, save money, build credit profiles and have access to loans.
There are more than half a billion mobile subscribers in Africa today and Tunde believes this is a sign that digital banking is the next step for Africa. His words; “In my experience, there are two clear barriers hindering the successful development of economies across Africa. ACE was founded to address the infrastructural challenges preventing companies from connecting with their customers. Lidya is our solution for the over 300 million consumers on the continent who have bank accounts but don’t have access to credit, trade finance and personal investing tools to grow their businesses and plan their futures.”