HerVest launches revamped app to bridge Africa’s gender finance gap
In furtherance of its commitment to bridge the $42 billion gender finance gap in Africa, HerVest, a fintech firm dedicated to providing financial inclusion for women through a Gender Lens Investment (GLI) approach, has launched its revamped digital app to deepen access to financial growth services for underserved and excluded African women through target savings, impact investing and credit financing.
Users of the HerVest app can now take advantage of its investment features by investing in small and medium enterprises to earn competitive interest on the go. Unlike the previous investment model on the app that focused largely on agro investments, the HerVest offerings have been expanded to boost access to funding for women entrepreneurs by connecting them to the capital and infrastructure required to scale their businesses.
The app also has a dollar investment feature that allows users to invest in dollar-denominated assets such as stocks, real estate and a fixed income option to earn 10 to 14 per cent returns in dollars. This feature protects investments from inflation and allows users to diversify their portfolios into high quality investments to build wealth.
Commenting on the development, the Chief Executive Officer (CEO) and Co-founder, HerVest, Solape Akinpelu, said the improvement in the brand’s offerings was targeted at increasing the accessibility of its solutions to help underserved women build sustainable wealth and achieve a better, fulfilling future.
“We are proud to introduce a refreshed and dynamic app built specifically to help link women to opportunities by providing them with the access to credit, trade, extension services and premium investments through a gender-focused lens.
“Access to sustainable finance is a huge challenge as more women still face the challenge of being priced out of the existing market of microfinance loans due to high operating costs of providing loans to them. However, with our members-only cooperative model backed by technology, we are able to connect and lend peer-to-peer profitability.
“Following our initial heavy concentration in the agro space, we have decided to expand and cover as many sectors as possible outside agriculture to help more women founders scale their businesses. Users of the revamped HerVest app can now access a range of financial solutions that allows them to build sustainable wealth either through a dedicated personal savings option, trade investment offerings or an optimised dollar investment which can be fixed, put in stocks or in the thriving real estate option,” Solape said.
The new HerVest user-friendly app also integrated personal savings feature where users can earn 15 per cent interest yearly even as it features trade and investment opportunities.
HerVest is an inclusive fintech platform that provides financial growth services to underserved and excluded African women through target savings, impact investing and credit financing – specifically for women farmers in Nigeria. So far, it has impacted over 10,000 female farmers across Borno, Plateau, Kaduna, Benue, Niger, Oyo, Kwara and Ogun States.
With a mission to improve women’s lives by giving them access to and use of financial services across rural, urban and semi-urban areas, HerVest offers savings, funds transfers, impact-investment and credit via its platform.