The collaboration between IBM Research and Twiga Foods has seen the launch of a business-to-business logistics platform for kiosks and food stalls in Africa.
The platform, a blockchain-based system has since seen 220 food stall retailers across Kenya benefit from microloans through an eight (8) week pilot phase that not only benefited the retailers but also the platform as it provided feedback for necessary iteration.
The platform is a financial inclusion service targeting the Small and Medium-Sized Enterprises (SMEs) which often have difficulties accessing financing given that most SMEs are characterised by lack of collateral to be used as security.
The platform is mobile based and employs machine learning capabilities to assess the applicants’ credit worthiness thus boosting lender confidence, the absence of which has also contributed to the would-be-extinct financial exclusion of SMEs.
Given the success of the pilot, the platform is likely to see further and wider deployments across Africa in the coming months.
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