Written by Vincent Matinde | From IT Web Africa

With increase use of mobile money gaining popularity in Africa, ApexPeak sees great opportunities in mobile funding for African businesses. ApexPeak is a financial solutions company that lends businesses money once they verify their e-invoices on the platform, before they are due. Such services enable small and medium enterprises not to get stuck on financial options.

“The m-payments explosion, which began with bill payments and money transfers, has now spread to Africa’s business world. African small business also want access to financial services, but have so far been denied because they were either not eligible for a bank account or for a credit card,” Anthony Coundouris, Marketing at ApexPeak said.

Coundouris referred to research that made reference to this trend, including that from the African Development Bank, “Financial Inclusion and Integration through Mobile Payments and Transfer”, The share of bank financing in Africa is 8 percent (compared to an average of 11 percent in other developing countries) while the share of equity financing in Africa is less than 2 percent, as compared to about 8 percent in other developing economies.

Read more at IT Web Africa