How many total Microfinance companies are there in Africa?

As of May 2026, Africa has 235 active Microfinance companies.

How many Microfinance companies in Africa are funded?

As of May 2026, 41 companies have received funding in this sector.

What is the total funding raised by Microfinance companies in Africa?

Microfinance companies in Africa have collectively raised $273M in funding till date.

Who are the top investors in Microfinance companies in Africa?

The top investors in Microfinance companies in Africa by number of investments are Incofin Investment Management and FMO.

Which is the highest funded Microfinance company in Africa?

As of May 2026, Enda tamweel has raised $38.7M in funding, highest among the funded Microfinance companies in Africa.

List of 357 Microfinance Startups in Africa & Market Trends (May 2026)

Most viewed in 2019

The Microfinance sector in Africa comprises 357 companies, including 41 funded companies having collectively raised $273M in venture capital money and private equity. Out of these, 12 are Series A+ funded.

Microfinance sector in Africa has seen 5 acquisitions and 3 IPOs.

This sector includes microfinance is the provision of access to capital and financial services to low-income households and micro & small enterprises underserved by traditional financial institutions due to lack of collateral, credit information and profitability of serving such a customer group.

Microfinance sector is also known as Micro Credit, Micro-Finance, Micro-lending or Microcredit.

All companies that primarily offer microfinance products including independent NBFIs, subsidiaries of banks, and cooperative societies. All internet-first lenders including marketplaces are also included. Other Financial Institutions that have a different focus compared to NBFI microfinance companies including banks, consumer and SME loan companies, unorganised money lenders, private debt funds, large corporate lenders, asset finance companies etc. are excluded.

Key Metrics

Total Companies

357

Top Companies

Oze, Letshego & more

Total Funding

$273M

Funded Companies

Series A+ Companies

Series C+ Companies

IPOs

Acquisitions

Also known as

Micro Credit or Micro-Finance

View complete details of this sector

There are 357 Microfinance startups in Africa which include Oze, Letshego, Faulu Kenya, Tanmia, EFC Uganda. Out of these, 41 startups are funded, with 12 having secured Series A+ funding.

Over the past 10 years, an average of 13 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Massachusetts Institute of Technology.

1. Oze

Platform offer small loans and digital payments. It offers a platform for users to rack sales and expenses, send digital receipts and invoices, and remind customers to pay what they owe. It also provides access to a business dashboard to manage their business.

Key facts about Oze

Founded Year: 2016
Location: Accra (Ghana)
Stage: Seed
Total Funding till date: $3.7M
Investors: Visa, Ingressive Capital and 20 Others
Latest Funding Round: Seed, Feb 20, 2025, $*****
Tracxn Score: 59/100 What is this?
Competitors Rank: 1 of 53 Competitors

2. Letshego

Provider of microfinance services. It offers a range of financial products and services, including lending, savings, payments, and insurance services.

Key facts about Letshego

Founded Year: 1998
Location: Gaborone (Botswana)
Stage: Series A
Investors: Development Partners International, Zephyr Management and 2 Others
Latest Funding Round: Conventional Debt, Dec 11, 2018, $*****
Tracxn Score: 50/100 What is this?
Competitors Rank: 2 of 2 Competitors

View full list of companies in this sector

3. Faulu Kenya

Key facts about Faulu Kenya

Founded Year: 1991
Location: Nairobi (Kenya)
Stage: Unfunded
Tracxn Score: 45/100 What is this?
Competitors Rank: 2 of 40 Competitors

4. Tanmia

Microcredit and micro-insurance for SMEs. The platform provides information related to microcredit.

Key facts about Tanmia

Founded Year: 2009
Location: Cairo (Egypt)
Stage: Acquired
Investors: Europa
Latest Funding Round: Grant (prize money), Aug 03, 2016, $*****
Tracxn Score: 41/100 What is this?
Competitors Rank: 2 of 8 Competitors

5. EFC Uganda

Key facts about EFC Uganda

Founded Year: 2012
Location: Kampala (Uganda)
Stage: Seed
Total Funding till date: $1.09M
Investors: FMO, Bamboo Capital Partners and 5 Others
Latest Funding Round: Conventional Debt, Feb 02, 2021, $*****
Tracxn Score: 41/100 What is this?
Competitors Rank: 1 of 26 Competitors

Access the full list of 357 Microfinance Startups in Africa

Companies founded year-on-year in the Microfinance sector in Africa

27 Microfinance startups in Africa were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	-
2025	-
2024	2
2023	8
2022	12
2021	19
2020	27
2019	25
2018	20
2017	20

Stage-wise distribution of Microfinance sector companies in Africa

Out of the total 357 Microfinance companies in Africa, 41 have secured funding. Among them, 12 have reached Series A or higher, and 10 to Series B or beyond.

Founded - 357

Funded - 41

Series A+ - 12

Series B+ - 10

Series C+ - 10

Company Stage	No. of companies
Founded	357
Funded	41
Series A+	12
Series B+	10
Series C+	10

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Total funding year-on-year in the Microfinance sector in Africa

The Microfinance sector in Africa saw a total funding of more than $265M in the last 10 years. The most amount of funding was in 2018 at more than $97M.

Total Funding

Year	Total Funding
2025	-
2024	-
2023	$13.2M
2022	$58.1M
2021	$9.19M
2020	$76.6M
2019	$900K
2018	$97M
2017	$8.66M

Recent Funding Rounds in Microfinance in Africa

In the year 2025, till February 2025, Microfinance companies in Africa have raised equity funding across 1 round.

Here are some recent, important funding rounds in Microfinance companies in Africa:

Company	Round Raised	Amount Raised	Funding Date	Investors
Oze	Seed	4271	Feb 20, 2025	DEG and 3 more
Oze	Seed	1374	Nov 07, 2024	Visa
Oze	Seed	1291	Jan 26, 2022	Speedinvest and 2 more
Awabah	Seed	5213	Aug 23, 2021	Techstars
Awabah	Seed	4788	Jul 2021	Correlation Ventures and 1 more

See a more detailed list of funding rounds

Incofin Investment Management is the top investor in Microfinance companies in Africa based on number of companies invested.

Here are some top investors in Microfinance companies in Africa:

Investor	Location	Top Portfolio Companies
Incofin Investment Management	Antwerp (Belgium)	EFC Uganda
FMO	The Hague (Netherlands)	EFC Uganda, Premier Credit and SEF
BlueOrchard	Zurich (Switzerland)	-
British International Investment	London (United Kingdom)	-
Goodwell Investments	Amsterdam (Netherlands)	-

See a more detailed list of investors

In the year 2025, till July 2025, 1 acquisition happened in Microfinance sector in Africa. Last year, in 2024, a total of 1 acquisition happened in Microfinance sector in Africa.

Here are some recent, important acquisitions in Microfinance sector in Africa:

Company	Acquisition Type	Acquisition Date	Acquirers
DAAM	Business Acquisition	Jul 11, 2025	UBCI
Tamweely	Business Acquisition	Sep 08, 2024	Tanmiya Capital Ventures and 3 more
Microsen	Business Acquisition	Oct 09, 2022	SF Capital
Gwong Microfinance Bank	Business Acquisition	Apr 24, 2022	Emergingafricagroup
KEY Microfinance Bank	Business Acquisition	Jan 01, 2022	LOLC