FabAfriq Magazine

Ovamba Discusses the P2Plending Model with Camer Bloggers During Their Last Hangout

Africa is home to several established and growing business enterprises. Doing business in Africa is now a do or die affair as the growth in this sector is quite remarkable. It’s to be noted that for every economy to boom, its SMEs should be at a certain level of growth. Most African SMEs face almost the same issues which if not addressed, will retard business.

Ovamba with its objective to help and support SMEs in Africa invited a group of Camerbloogers on Friday 9th of October to discuss Its P2Plending program and how to spread the word.

In an interactive hangout with Camer Bloggers, Ovamba revealed certain aspects of business funding that many Micro finances do have but most business gurus in Cameroon do not know about.

Small and medium size enterprises have this common issue of funding. Getting loans from banks and micro finances is always very time consuming and expensive. Ovamba with its mission to promote SME in Africa has brought a new financial technology system in Cameroon. Its P2Plending programme is a lot more less time consuming and payment friendly.

Problems most SMEs face today can be easily tackled if the solutions Ovamba provided could be properly implemented. Ovamba has created an integrated ecosystem of technical solutions, financing and services to solve Africa's business funding challenges.

  • -Ovamba has developed a statistically proven risk evaluation system to assist banks with determining the creditworthiness of potential borrowers. This proprietary process simplifies speeds up, and improves the credit review cycle. All of Ovamba's financial partners use these standard criteria to evaluate default risk.
  • -Ovamba has made available the "OvambaiBanc system", a world class RESTFUL architecture based bank management product which allows financial institutions to have real time reporting on all key metrics related to managing their institutions' cash position, transaction portfolio and accounting systems.

These two enabling technologies are connected to the "Ovamba SME Debt Marketplace" - an internet based market where Africa's banks can sell up to 50% of individual or pooled SME transactions (both traditional and sharia compliant) to sophisticated investors from around the world.

If you have been in business for up to two years, have a clean tax payer’s sheet, aged 21 and above, then you have what it takes to enjoy Ovamba’sP2Plending. Moreover, Ovamba respects the legislation and law set in each country before implementing a transaction. Doing business is the main objective but Ovamba has set in place policies to be responsible of its client’s transaction.

“Peer-to-peer lending, abbreviated P2PL is the practice of lending money to unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other traditional financial institution. P2PL is not to be confused with peer to peer investing (P2PI)”.This model has been well designed to help all small and medium size enterprises in Africa and Cameroon in Particular.

For more information about Ovamba, What it does, how it does and every other inquiry, visit the contact

Website: http://ovamba.com

Email: communications@ovamba.com

Facebook: https://www.facebook.com/Ovamba?ref=br_rs

Email: pr@fabafriq.com

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