Banking technology company JUMO has launched a new social finance framework (SFF) in partnership with Standard Bank’s sustainable finance team.
The parties explain that the framework aligns with internationally recognised sustainable finance guidelines and provides a transparent structure for raising social finance, such as social loans and social bonds.
This will fund financially inclusive lending activities on JUMO’s technology platform to positively impact underserved individuals, microenterprises and small and medium-sized enterprises (SMEs) across the nine African markets JUMO operates in.
With a multibillion-dollar addressable lending opportunity and a scalable, technology-enabled platform, the companies note that JUMO is well positioned to deploy capital efficiently across high-growth African markets.
They add that the framework is also supported by a positive second party opinion from Endiligence.
