Jide Maf

Worried by Africa’s huge population still lacking access to banking services, a leading financial technology company, Ucard, has taken unique approaches to boost financial inclusion in the continent with innovative retail solutions.
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According to the World Bank, only 48 per cent of Africans had access to banking services in 2022, with people in rural areas mostly unbanked.

The Chief Executive Officer of Ucard, Jide Maf, said the company’s unique approach addresses the challenges head-on.
He said: “Ucard is actively closing the divide between traditional banking and everyday commerce by providing a comprehensive range of retail solutions, including Point-of-Sale (POS) terminals, mobile money and financial education. These solutions make it easier for businesses and individuals to access financial services, even in remote areas with limited infrastructure.

“The need for innovative financial solutions is great in Africa, where more than half of the population lacks access to banking services. Ucard’s agency banking model leverages technology to bring banking services to places traditional banks have struggled to penetrate. This revolutionary model allows individuals to earn income as banking agents, thus fostering job creation, stimulating local economies and promoting financial inclusion.”

Maf noted that recognising the challenges of digital literacy and internet access, Ucard is investing in financial education initiatives to guide individuals, especially women, in effectively understanding and utilising financial services.

“Ucard is more than a banking service provider; we are a catalyst for economic empowerment and financial inclusion. Our mission is to make banking services accessible to everyone, focusing on Africa’s underprivileged and under-banked population.

“Ucard is also deeply committed to addressing the gender disparity in financial inclusion. We understand the barriers women face in accessing financial services and are committed to overcoming these obstacles. Our mobile banking solutions are designed to empower women economically and equip them with the tools necessary for financial independence,” he added.

Maf noted that Ucard is not just a financial service provider, stressing: “We see ourselves as partners in progress, working tirelessly to boost economic growth, create jobs and reduce poverty. We are optimistic about the future and committed to making a tangible impact on the African continent.”
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