Branch International sees growth opportunity in microlending Company has disbursed over $600 million in loans since 2015
San Francisco-based Branch International plans to become a pan-African digital bank as it sees a growth opportunity in online financial services on the continent.
The company, with operations in India, Kenya, Nigeria, and Ghana, will build its new business by acquiring microfinance lenders, founder and Chief Executive Officer Matt Flannery said in an interview. New deals, including potentially in Tanzania, will cement Branch’s position as the first fintech to buy banks in Sub-Sahara Africa, he said.
Source:
Bloomberg
