eMaisha Pay launches “Buy Now. Pay Later” to empower Agribusiness MSMEs with essential Equipment

*Coffee beans in coffee roasting machines; some of the equipment agribusinesses can acquire through eMaisha Pay.*

In a groundbreaking move designed to cater to the unique challenges faced by Agribusiness MSMEs in Africa, eMaisha Pay has unveiled its “Buy Now. Pay Later” service. This service, aiming to streamline the acquisition of vital production equipment, is set to become a game changer in the way agribusinesses approach their operational expansion.

Addressing Capital Constraints in Agribusiness

One of the primary hindrances faced by Agribusiness MSMEs in their growth trajectory is the lack of immediate capital to invest in pivotal production equipment. eMaisha Pay, recognizing this gap, has stepped in with its “Buy Now. Pay Later” model. This service empowers businesses to procure the equipment they need right away, while offering them a flexible repayment structure.

The “Buy Now. Pay Later” Model Explained

The model is simple yet effective:

Browse and Select: Agribusinesses can browse through a curated list of equipment listed by partnered equipment providers on the eMaisha Pay mobile application.
30% Upfront Payment: Once they identify the equipment they require, they pay 30% of its cost upfront.
Flexible Repayment for the Balance: eMaisha Pay finances the remaining 70% of the equipment cost. The agribusiness then repays this amount in weekly installments over a span of six months.
Grace Period: Understanding the challenges businesses might face, eMaisha Pay offers a one-month grace period before the weekly repayments commence.

Transforming the Agribusiness Landscape

The benefits of this innovative model are multifaceted:

Immediate Equipment Access: No longer do businesses have to delay their growth due to financial constraints. They can instantly procure the equipment they need.
Financial Flexibility: The installment structure is tailored to ensure businesses can manage their cash flow effectively, without feeling burdened.
Collaborative Ecosystem: By partnering with equipment providers, eMaisha Pay ensures that businesses have access to a range of high-quality equipment options.

With the “Buy Now. Pay Later” initiative, eMaisha Pay reiterates its commitment to bolstering the agribusiness sector in Africa. This approach not only aids individual businesses but also promises to elevate the entire sector, driving productivity, growth, and sustainability.

eMaisha Pay Triumphs at CATAPULT: Inclusion Africa 2022 in Dubai

In a remarkable turn of events, Uganda’s very own “eMaisha Pay” emerged victorious in the fourth edition of the CATAPULT: Inclusion Africa programme, held in the vibrant city of Dubai as part of the World Expo 2020 festivities. The event, previously hosted in Luxembourg, showcases the best of fintech solutions aimed at financial inclusion and innovation.

eMaisha Pay, a cutting-edge mobile platform, utilizes machine learning, alternative data, and psychometric parameters to credit score small and medium-sized enterprises (SMEs) across Africa. Its innovative approach ensures that previously underserved SMEs can now access crucial financial services, heralding a new dawn for financial inclusion in the continent.

Organized by the LHoFT Foundation, Luxembourg’s premier fintech hub, and backed by Luxembourg’s Development Cooperation, CATAPULT: Inclusion Africa offers a unique platform for startups to showcase their prowess. This year’s edition witnessed participation from nine startups spanning six African nations: South Africa, Nigeria, Ivory Coast, Zimbabwe, Uganda, and Ghana.

Throughout the intensive three-day workshop, the startups benefited from the insights and expertise of mentors from both Luxembourg and the United Arab Emirates. This collaborative environment fostered the creation of synergies, networking opportunities with sponsors, investors, Microfinance Institutions (MFIs), and Public Financial Institutions (PFIs).

The grand finale, a pitch session, saw these startups presenting their refined proposals to an international jury of experts. eMaisha Pay, represented by its dynamic CEO, Sserubiri Uhuru, stood out, impressing the jury with its innovative solution, tangible impact, market potential, and overall presentation quality.

This year’s event was made possible through the collaborative efforts of several partners, including the Alliance for Financial Inclusion, ADA, AFI, InFine, DIFC FinTech Hive, PwC, Luxembourg Microfinance and Development Fund, Luxembourg for Finance, Dubai UAE Expo 2020, and Compellio.

eMaisha Pay’s victory is a testament to the growing importance of digital solutions in transforming the African financial landscape and the potential of African startups to lead this change.