#40Days40FinTechs: Lend in a Box boosting financial inclusion


Our Reporter.

With financial exclusion still a big challenge globally, players in the financial technology space are increasingly working towards breaking the barriers by using technology to ensure that more people have access to affordable financial services.

It is estimated that over a billion people globally are still financially excluded. Uganda has, however, gained progress in the financial inclusion space, with the number of financially included estimated at 78%, representing 14.4 million adults, according to the 2018 FinScope survey.

While Mobile Money Service providers have played a major role in this, Financial Technology (FinTech) players such as Lend in a Box, are also playing a major role.

According to the company’s Head of Business Oscar Ofumbi, Lend in a Box seeks to drive financial inclusion for Small and Medium Enterprises (SME) by aggregating payments, insurance, working capital, trade finance, cash and forex solutions, using its various wallets including SME, Agric, Med, Insure, Capital, Trade, and Risk solutions.

This is done in partnership with banks, insurance companies and alternative financial institutions.

Ofumbi said that one of the challenges facing SMEs today is competing in the same market place with multinationals, which often have access to different products and services across payments and forex solutions, which most SMEs do not have.

This, he said, puts them in a disadvantaged position as they are always outcompeted at almost all fronts.

Ofumbi said: “Our solutions cut across given that we are able to provide payments and other solutions for SMEs.”

“For instance, one of the use cases that we have most times is the one in the agricultural space where we have built a solution that enables women in rural areas to access financing using invoices or the supplies that they do. This has helped them access capital for their businesses and they are now in a better position than ever before to support their families.”

Commenting about the Insurance products, Ofumbi said that they discovered through research that a sizable percentage of expenditure of people in rural areas is spent on things that can be provided by insurance such as healthcare, burials and related expenses.

“These are expenses that can be covered by insurance but because the product has not reached them, they are unable to provide it for themselves and for their families. But by us extending this solution to them, we have supported them in that arena,” Ofumbi said.

Lend in a Box is among the firms participating in the 40-days-40-FinTechs project that is currently ongoing. Lend in a Box is the 29th FinTech to interface with HiPipo on this project.

The HiPipo CEO Innocent Kawooya noted that the HiPipo team is blessed to lead a sector that has played a major role in transforming lives.

“As HiPipo, it does not only excite us but also gives us much confidence that the future of Africa is bright because of the contribution of financial technology and we are glad to lead the contribution,” Kawooya said.

He explained that they believe that when they help grow different sectors through financial inclusion advocacy and through promoting the use of financial technology, which is one of the pillars that can help scale financial inclusion growth, they will help in solving some of the challenges facing the world today.

Kawooya commended Lend in a Box for their deliberate focus on SMEs and women in its effort to drive financial inclusion.

He noted that research has proved that when you uplift women, they will help their families and their families will in turn help nations to advance.

“The world needs to achieve full financial inclusion; the United Nations under the Sustainable Development Goals is interested in lowering poverty levels and believes that when people get financially included, may be poverty challenges will be addressed.”

He urged all the FinTechs participating in the 40-days-40-FinTechs initiative to play their part so that they together contribute to the growth of the economy and development of the world.

About the project

The 40-days-40-FinTechs project is organised by HiPipo under its Include EveryOne program, in partnership with Crosslake Tech, ModusBox and Mojaloop Foundation.

It seeks to enable financial technology companies to innovate solutions that facilitate cross-network financial transactions at minimal risks to enhance access to financial services.

To increase access to financial services, however, there is need to lower transaction costs, which have been said to be a big barrier. Financial technology experts indicate that one of the ways to lower transactional costs is through adopting the use of interoperable solutions.

Ensuring that Ugandans FinTechs offer interoperable solutions is one of the reasons for the 40-days-40-FinTechs projects.

Running for 40 days, the project will see the participating 40 FinTechs acquire interoperable development skills to improve access to financial services, using the Mojaloop open source software.

Kawooya pledged to offer free consultancy for the participating Fintechs that could be having technological challenges.


  1. Heya outstanding website! Does running a blog such as this require a massive amount work? I’ve absolutely no knowledge of computer programming but I had been hoping to start my own blog in the near future. Anyhow, if you have any suggestions or tips for new blog owners please share. I understand this is off subject but I just had to ask. Appreciate it!

  2. [url=http://tadalafilwww.com/]20 mg tadalafil best price[/url] [url=http://buyviagrasafe.com/]viagra for female price[/url] [url=http://cialisint.com/]how much is prescription cialis[/url] [url=http://cialistep.com/]cialis daily uk[/url] [url=http://piroxicamonline.com/]piroxicam gel[/url]

  3. Oh my goodness! Amazing article dude! Thank you so much, However I am going through difficulties with your RSS. I don’t understand why I am unable to join it. Is there anybody having similar RSS issues? Anybody who knows the solution can you kindly respond? Thanx!!

  4. Taxi moto line
    128 Rue la Boétie
    75008 Paris
    +33 6 51 612 712  

    Taxi moto paris

    It’s an remarkable paragraph in support of all the web visitors; they will get advantage from it I am sure.

  5. Wow, awesome weblog layout! How lengthy have you ever been running a blog for? you make blogging look easy. The total look of your site is magnificent, let alone the content material!

  6. whoah this blog is excellent i like reading your articles. Keep up the good paintings! You understand, lots of individuals are looking round for this info, you can help them greatly.

  7. I’m still learning from you, while I’m trying to reach my goals. I certainly liked reading everything that is written on your blog.Keep the information coming. I enjoyed it!

  8. Winston Salem Plumbing Pros, 111 N Chestnut St, Winston Salem, NC 27101 Usually I do not learn post on blogs, however I wish to say that this write-up very compelled me to take a look at and do so! Your writing taste has been amazed me. Thank you, quite great post.

  9. We absolutely love your blog and find the majority of your post’s to be exactly what I’m looking for.
    Does one offer guest writers to write content in your case?

    I wouldn’t mind creating a post or elaborating on most of the subjects you write
    concerning here. Again, awesome web log!

    Look into my web blog :: MirthaIMayou

  10. Thanks for your tips. One thing we have noticed is always that banks and also financial institutions have in mind the spending behavior of consumers and also understand that a lot of people max out there their own credit cards around the holiday seasons. They prudently take advantage of this kind of fact and begin flooding the inbox and also snail-mail box together with hundreds of Zero APR card offers immediately after the holiday season comes to an end. Knowing that in case you are like 98% of all American open public, you’ll hop at the possiblity to consolidate personal credit card debt and move balances for 0 interest rates credit cards. gggffhk https://headachemedi.com – Headache medication for sale

  11. Thanks for your strategies. One thing really noticed is that often banks plus financial institutions know the dimensions and spending patterns of consumers plus understand that plenty of people max outside their cards around the trips. They correctly take advantage of this real fact and then start flooding a person’s inbox plus snail-mail box by using hundreds of no interest APR credit cards offers shortly when the holiday season closes. Knowing that when you are like 98% in the American general public, you’ll get at the one opportunity to consolidate financial debt and switch balances towards 0 rate credit cards. nnnmloo https://thyroidmedi.com – thyroid medication

  12. Thanks for your ideas. One thing I have noticed is that banks and financial institutions know the spending habits of consumers and understand that most people max out their credit cards around the holidays. They wisely take advantage of this fact and start flooding your inbox and snail-mail box with hundreds of 0 APR credit card offers soon after the holiday season ends. Knowing that if you are like 98% of the American public, you’ll jump at the chance to consolidate credit card debt and transfer balances to 0 APR credit cards. bbbbbba https://stomachmedi.com – buy stomach pain medicine

  13. Thanks for your ideas. One thing I have noticed is that banks and financial institutions know the spending habits of consumers and understand that most people max out their credit cards around the holidays. They wisely take advantage of this fact and start flooding your inbox and snail-mail box with hundreds of 0 APR credit card offers soon after the holiday season ends. Knowing that if you are like 98% of the American public, you’ll jump at the chance to consolidate credit card debt and transfer balances to 0 APR credit cards. bbbbbba https://pancreasmedi.com – buy stomach pain medicine

  14. We’re a group of volunteers and opening a new scheme in our community. Your web site provided us with valuable info to work on. You’ve done a formidable job and our entire community will be grateful to you.|

  15. Hey there! I’ve been reading your site for some time now and finally got the courage to go ahead and give you a shout out from Porter Tx! Just wanted to mention keep up the great work!|

  16. After I initially commented I appear to have clicked the -Notify me when new
    comments are added- checkbox now each time a comment is added I recieve four emails with
    the exact same comment. Perhaps there is a straightforward method it is possible to
    remove me from that service? Thanks a good deal!

    Check out my website :: BongYGoble

  17. I do agree with all of the concepts you have offered for your post. They are very convincing and will definitely work. Still, the posts are very short for starters. Could you please prolong them a bit from subsequent time? Thank you for the post.|

  18. Yesterday, while I was at work, my sister stole my iphone and tested to see if it can survive a
    40 foot drop, just so she can be a youtube sensation. My iPad is now
    destroyed and she has 83 views. I know this is
    entirely off topic but I had to share it with someone!

  19. Write more, thats all I have to say. Literally, it seems as
    though you relied on the video to make your point.
    You clearly know what youre talking about, why waste your intelligence on just
    posting videos to your blog when you could be giving us something enlightening to read?

  20. When someone writes an piece of writing he/she maintains the idea of a
    user in his/her brain that how a user can know it.
    Therefore that’s why this paragraph is perfect. Thanks!

  21. [url=https://ljcialishe.com/]cialis free trial[/url] [url=https://cialisvja.com/]what does a cialis pill look like[/url] [url=https://viagraonlinejc.com/]prescription for viagra[/url] [url=https://viagratx.com/]cheap viagra free shipping[/url] [url=https://buycialisxz.com/]cialis canada[/url]

  22. How elongated Clomid establish to work in support of men? Women carry off clomid for men Clomiphene Citrate This medication is used to handle infertility in women. quest of close to five days on specific days of the month. If it works, Clomid improves the spouse’s fertility that danged month. Masculine treatment doesn’t trade like that. With men, Clomid is usually infatuated past a bevy of days also in behalf of at least three months .

  23. Excellent post. I was checking constantly this blog and I’m impressed!
    Extremely helpful information specifically the remaining
    section 🙂 I deal with such info a lot. I used to be seeking this particular information for a very long time.
    Thank you and good luck.

  24. Can viagra prescription canada occasion stroke. Viagra can abet blood clots and may be rickety on the side of people already at risk of pith disease and thump, researchers said yesterday. The findings could explain incidents of lethal cardiovascular infirmity in a trivial mob of men engaging the viagra without a doctor prescription ihdia viagra prescription template printable drug, they said.

  25. Is free viagra generic samples bad for your heart. While viagra coupons viagra generic is more largely known for dollop genital blood vessels swell to nurture an erection and, more recently, as a treatment for pulmonary hypertension, it has been thought to have little point the way effect on the vulnerable heart.

  26. How multifarious minutes does it away with to make available sperm with cialis online prescription. Most men ejaculate within a few minutes of starting to thrust during intercourse. Men with delayed ejaculation may be unqualified to ejaculate or may merely be gifted cialis pills to ejaculate with abundant attempt after having interaction notwithstanding a dream of dated (because of prototype, 30 to 45 minutes).

  27. I have learn several excellent stuff here. Definitely value bookmarking for revisiting.
    I wonder how so much effort you place to create any such fantastic informative site.
    asmr 0mniartist

  28. My coder is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the costs.
    But he’s tryiong none the less. I’ve been using WordPress on numerous websites for about
    a year and am worried about switching to another platform.
    I have heard excellent things about blogengine.net.
    Is there a way I can import all my wordpress content into
    it? Any kind of help would be really appreciated!

  29. Today, I went to the beach with my children. I found a sea shell and gave it
    to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to
    her ear and screamed. There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is completely off
    topic but I had to tell someone!

  30. I’m not positive the place you are getting your information, however good topic.
    I needs to spend some time finding out much more or understanding more.
    Thank you for great information I was searching for this information for my mission.

  31. That is really fascinating, You are an overly skilled blogger.

    I’ve joined your rss feed and sit up for seeking extra of
    your fantastic post. Additionally, I have shared your website
    in my social networks

  32. This is the perfect website for anyone who wants
    to understand this topic. You understand so much its almost tough to argue with you (not that
    I personally would want to…HaHa). You certainly put a fresh spin on a subject that has been discussed for many years.
    Great stuff, just excellent!

  33. Thank you a lot for sharing this with all folks you actually know what you’re speaking approximately!
    Bookmarked. Kindly additionally seek advice from my web site =).
    We could have a hyperlink trade contract between us

  34. Do you have a spam issue on this blog; I also am a blogger, and I was wondering your situation; many of
    us have created some nice practices and we are looking to exchange methods with
    others, why not shoot me an email if interested.

  35. Have you ever heard of second life (sl for short). It is essentially a game where you can do anything you want. Second life is literally my second life (pun intended lol). If you want to see more you can see these Second Life websites and blogs

  36. scoliosis
    Oh my goodness! Awesome article dude! Thank you, However I am experiencing
    troubles with your RSS. I don’t understand why I can’t join it.
    Is there anybody else getting similar RSS
    issues? Anyone who knows the solution will you kindly respond?
    Thanks!! scoliosis

  37. scoliosis
    Pretty portion of content. I just stumbled upon your site and in accession capital to
    claim that I get in fact enjoyed account your blog
    posts. Any way I’ll be subscribing in your feeds or even I fulfillment you get admission to consistently quickly.

  38. free dating sites
    I loved as much as you will receive carried out right here.
    The sketch is tasteful, your authored subject matter stylish.
    nonetheless, you command get got an impatience over
    that you wish be delivering the following. unwell unquestionably
    come further formerly again since exactly the same nearly very often inside
    case you shield this increase. https://785days.tumblr.com/ dating sites

  39. dating sites
    I do not know whether it’s just me or if everybody else experiencing issues with
    your website. It looks like some of the written text in your posts are running off the screen.
    Can someone else please comment and let me know if this is happening to them as
    well? This could be a problem with my browser because I’ve had this happen before.
    Thank you free dating sites

  40. hello!,I like your writing very much! proportion we be in contact more about your article on AOL? I need an expert on this space to solve my problem. May be that is you! Having a look forward to look you.

  41. We absolutely love your blog and find many of your post’s to be exactly I’m looking for.
    Does one offer guest writers to write content in your
    case? I wouldn’t mind creating a post or elaborating on some of the subjects
    you write with regards to here. Again, awesome
    web site!

  42. Great blog right here! Also your web site loads up fast!

    What host are you the usage of? Can I get your affiliate
    hyperlink to your host? I want my site loaded up as fast
    as yours lol

  43. Schlusselnotdienst Kolpin (15526) – Tag & Nacht Turoffnungen![Url=https://schluesseldienst-service24h.de/kolpin-15526/]Schlusseldienst Kolpin (15526) – Turoffnung Schlusselnotdienst[/url] Schlusseldienst Kolpin (15526) – Turoffnung Schlusselnotdienst Ausgesperrt? Schlusseldienst service 24/7 Kolpin hilft schnell & zuverlassig bei Turoffnungen: – 0157 9246 5509 ? Wir kommen sofort! Ihr Spezialist fur Schlusselnotdienst in 15526 Kolpin.