In sub-Saharan Africa, 66% of adults are currently unbanked. Most of these 350 million people are female and/or poor, reflecting the inequality of Africa’s economy. Goodwell wants to reduce the barriers to economic participation this population faces. One focus area is mobile money: it offers huge opportunities for growth and is a practical alternative to standard banking – to create an account, all you need is a phone.

Businesses and households need fair, affordable financial services to improve their financial wellbeing. Formal savings accounts, for example, can improve access to housing and education; and insurance policies provide financial stability in the face of unforeseen circumstances. Goodwell’s investments in the financial sector go beyond enabling easy transactions: we want to ensure that everyone has the ability to build a better future.

Digital technology is powering the growth of financial inclusion in Africa. They have allowed the continent to “leapfrog” certain stages of financial development, maturing more quickly to overcome infrastructure limitations, enable easy payments and transfers, and facilitate cross-border transactions. Goodwell invests in fintech that improves affordability and accessibility of financial services for individuals and small businesses alike.

Small businesses are important drivers of economic growth, especially in Africa: sub-Saharan Africa alone has an estimated 44 million micro-, small-, and medium-sized companies. Despite this, SMEs are not well-served by traditional banking and microfinance institutions, creating a major gap in the market. We invest in innovative companies that close this gap and help small businesses grow and thrive.