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Viola A. Llewellyn and Africa’s first FinTech- Written by Lauma Berzina

Viola A. Llewellyn is the Co-founder and president of award-winning Ovamba Solutions, Inc., Africa’s first FinTech company to create technologies to serve African SMEs with innovative Sharia-compliant finance products, eCommerce, and logistics services. Ovamba’s technology gives global accredited and institutional investors the opportunity to invest in the fast-growing African private sector.

In other words, Ovamba provides short-term funding in emerging markets to the trade and commodities sectors.  Ovamba also raises capital from global institutional investors with an appetite for returns in these markets. The company’s goal is to solve the need for democratization of financial services in Africa. It is already acknowledged, that Ovamba is a booster rocket for SMEs in Africa. So, what can we learn from this case? What is the essence here?

 

 

To spot the problems and opportunities

“In Africa, there is plenty of space for innovation, it is a great demographic area, with a lot of tools to be developed to solve some of the most interesting challenges, all of these challenges represent opportunity and return on investment, but nobody seems to want to come there”. Viola points out, that it is about the time to join them because many companies say that they have global exposure, but yet they don’t have anything on the continent of Africa at all. Or they say that they are in Africa, but only in Kenya and the HQ are located somewhere outside of Africa. This really is not how it works for Africa. And neither could it work for other continents in a similar situation.

In fact, Africa is larger than Western Europe, Eastern Europe, China, India, and the United States combined. Africa’s population by 2040 will rise to 2,5 billion people, but the statistics show that the continent has received only 0,3% of global venture capital and Tech investment in 2016. As Viola emphasizes, it is a critically small amount from what Africa needs. So, this is already a great case-study to look at by understanding the issue on a global scale.

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Read More: https://techchill.co/viola-llewellyn-ovamba-solutions/