Moneda has joined forces with meCash to introduce Musa, a digital financing platform designed to provide small and medium enterprises (SMEs) in the energy, agriculture, and minerals sectors with seamless access to capital. The formal agreement was signed at a ceremony in Lagos, marking a major milestone in tackling the financial challenges that hinder the growth of businesses driving Africa’s economy.
Musa is built to overcome the traditional obstacles of bank lending, offering SMEs quick and adaptable credit without the need for collateral or prolonged approval processes. Unlike conventional financial institutions that often perceive SMEs as high-risk borrowers due to insufficient collateral, Musa utilizes advanced technology-driven credit assessment models. By evaluating real-time business activity, cash flow trends, and alternative financial data, the platform ensures a more precise determination of an SME’s creditworthiness and financial health.
At the signing event, Moneda’s Group Chief Executive Officer, Ejike Egbuagu, underscored the importance of tailored financing solutions that align with Africa’s unique economic realities. He pointed out that while the energy, agriculture, and minerals industries are vital to the continent’s development, businesses in these sectors frequently face difficulties in securing funding. Musa, he explained, is designed to shift this paradigm by providing SMEs with prompt and accessible financing without restrictive lending conditions or unnecessary delays.
“Africa is a construction site, and we see our mission as laying the foundation for long-term progress,” Egbuagu remarked. “By equipping SMEs with the right financial tools, we are not just supporting individual businesses—we are strengthening entire economies.”
Precious Ehihama, a key partner in the Musa initiative, highlighted the platform’s broader role in optimizing financial operations for SMEs. In addition to facilitating access to credit, Musa streamlines payment processing and enhances liquidity management, ensuring businesses can sustain operations with greater financial stability.
“We are not just providing financing; we are revolutionizing how SMEs access capital and manage payments,” Ehihama stated. “Musa enables businesses to operate without the financial bottlenecks that typically hinder their growth.”
Musa is not confined to Nigeria—it is conceived as a Pan-African initiative, with strategic plans to expand into Rwanda, Ghana, Kenya, and other African nations. By leveraging digital technology, the platform seeks to bridge financing gaps for businesses across urban and rural areas, eliminating geographical and structural constraints that have long restricted credit accessibility.
Modupe Diyaolu, Co-founder of meCash, reaffirmed the partnership’s dedication to fair and transparent financing. She emphasized that Musa’s primary objective is to support SMEs with capital in a way that avoids exploitative lending practices.
“No matter how many contracts SMEs bring, we are equipped to support them,” Diyaolu said. “Our mission is to ensure businesses receive the funding they need to scale—without the burden of excessive financial strain.”
As Africa’s SME sector remains a key driver of economic development and job creation, initiatives like Musa hold the potential to be transformative. By harnessing digital finance, the platform aims to empower businesses, improve productivity, and contribute to the overarching goal of sustainable economic growth across the continent.
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