JP Morgan to boost local fintechs servicing spaza shops
With partner BFA, the bank aims to expand the adoption of technology in the industry and help protect jobs
In a first of its kind for its philanthropic activities across the world, global banking giant JP Morgan will provide a grant to accelerate the development of three local fintech start-ups capable of providing solutions and capital to the local spaza shop industry.
The announcement made on Monday will see the US bank extend its partnership with data analytics and product innovation company BFA Global. Over a nine-month programme, they aim to assist with and accelerate the offerings of A2Pay, Yebo Fresh and Vuleka and save as many as 10,000 jobs in the sector...