The solution is being piloted with over 1,000 micro-businesses in three of Nairobis informal settlements: Kibera, Kawangware and Kariobangi, in partnership with Kaskazi, a for-profit wholesaler and distributor. Diamond Trust Bank (DTB), a financial institution with operations in Kenya, Uganda, Tanzania and Burundi, is facilitating digital payments between the kiosk owners and the wholesaler, and is also acting as a re-seller of the platform to its wholesale business clients.
The platform provides a digital log of transaction data that qualifies these micro-retailers for loans to stock inventory from Musoni, a regional micro-finance provider. With every loan that is paid on time, the kiosk owner has the opportunity to take out a larger loan for a longer term.
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