Moneda has partnered with meCash to launch Musa, a digital financing platform aimed at providing small and medium enterprises (SMEs) in energy, agriculture, and minerals with seamless access to capital. The agreement was formalized at a signing ceremony in Lagos, marking a significant step in addressing the persistent financial barriers faced by businesses that drive Africa’s economic growth.
Musa is designed to bypass the traditional hurdles of bank lending, offering SMEs quick and flexible credit without requiring collateral or lengthy approval processes. Unlike conventional banks, which often view SMEs as high-risk borrowers due to insufficient collateral, Musa employs advanced credit assessment models powered by technology. By analyzing real-time business activity, cash flow patterns, and alternative financial data, the platform offers a more accurate evaluation of an SME’s financial capacity and creditworthiness.
Speaking at the event, Moneda’s Group Chief Executive Officer, Ejike Egbuagu, emphasized the need for financing solutions tailored to Africa’s economic landscape. He noted that while the energy, agriculture, and minerals sectors are critical to the continent’s progress, businesses in these industries often struggle to secure funding. Musa, he said, is designed to change that narrative by ensuring SMEs can access financing without unnecessary delays or restrictive lending conditions.
“Africa is a construction site, and we see our role as laying the foundation for long-term growth,” Egbuagu said. “By backing SMEs with the right financial tools, we are not just supporting businesses—we are building economies.”
Precious Ehihama, a key partner in the Musa initiative, highlighted the platform’s role in streamlining financial operations for SMEs. Beyond providing access to credit, Musa is designed to simplify payment processing and improve liquidity management, ensuring businesses can operate with financial confidence.
“We’re not just offering financing; we are simplifying how SMEs manage payments and access capital,” Ehihama stated. “Musa allows businesses to function without the bottlenecks that typically slow their growth.”
Musa is not limited to Nigeria—it is designed as a Pan-African initiative, with plans to expand into Rwanda, Ghana, Kenya, and other African countries. The platform aims to bridge financing gaps for businesses in both urban centers and rural communities, using digital technology to remove geographical and structural barriers that have historically restricted access to credit.
Co-founder of meCash, Modupe Diyaolu, reiterated the partnership’s commitment to providing fair and transparent financing. She emphasized that Musa’s goal is to support SMEs with capital without burdening them with exploitative interest rates.
“As many contracts as SMEs bring, we can support them,” Diyaolu said. “Our mission is to ensure businesses get the capital they need to grow—without unnecessary financial burdens.”
With Africa’s SME sector playing a crucial role in economic development and job creation, platforms like Musa could prove transformative. By leveraging digital finance, the initiative seeks to empower businesses, enhance productivity, and contribute to the broader goal of sustainable economic growth across the continent.
