[Sponsored] Amano Capital makes second early stage investment in ComGrow
Summary
Amano Capital have made their second early-stage strategic investment of the year into ComGrow, a fintech solution focusing on utilizing traditional village banking systems as a way of tackling Africas high borrowing rates. Commenting on their impressive numbers for 2020 Mkuzo said: Despite the disruption to our second physical pilot faced as a result of Covid-19, ComGrow are pleased that the interest earned on member savings averaged 10.6% over 7 months, which annualizes to 18.17%. The app is seeking to integrate with several stakeholders during the R&D period to understand the most efficient way for users to save, borrow and participate in a variety of other services via APIs and management has gained strong traction on how the flow of capital will actually function over the last two months. Mwangele Kaluba, a market analyst at Amano Capital, explains You will find a radical uptake in participation in money lending solutions when interest rates are clearly lowered. Comgrows ability to offer substantially lower interest rates than the banks, due to the collective nature of the bank-end system will see them achieve a strong early advantage in the market.