By Malcolm Meja
Diversified insurance group Zimnat has partnered a UK based financial technology firm to offer credit facilities to diaspora based Zimbabweans looking to invest in the country.
U.K.-based financial technology company, SympliFi, has set up shop in Zimbabwe with under Zimnat’s wing. The firm plans on extending its operations to Nigeria and Tanzania.
Attending the on-going SMEs international expo as one of the international speakers, SimpliFi’s Co-founder and chief executive officer Maurice Iwunze said his firm’s mission is to empower the diaspora community around the globe to build prosperity in their own countries in a seamless and more efficient manner.
“For us we are strong believer that the key to driving prosperity in Zimbabwe is through promoting entrepreneurship and enabling scale of Micro and SME businesses, and we believe the people best to do that a re the people from the country,” he said.
SympliFi acts as a bridge between micro financial institutions and citizens living in the diaspora by mobilizing capital from all over the world to enable business to access funding.
The partnership will allow foreign-born residents living in countries such as the U.K. can now enable their families back home to easily access sustainable financial services for productive uses like entrepreneurship, education financing, savings and healthcare.
Conventionally, remittances/money transfers have been the singular form of financial services available for the diaspora to support their relatives back home. However, at SympliFi, the company focuses on what the funds will be used for in the home country and seamlessly connects the diaspora with a local financial institution to directly deliver the underlying service instead, in a more cost effective and efficient way. There is no other service in the marketplace like this.