Low-income Financial Transformation (L-IFT), a Netherlands-based firm, recently entered into an agreement with South Africa’s Imbe Enterprise Incubator whereby Imbe will provide L-IFT’s Finbit financial tracking software to its clients. The goal is to reach all of Imbe’s clients, who are primarily Black women who operate creches – child care facilities – in low-income neighborhoods. Finbit helps its users track their expenses and income, and L-IFT has customized the system for Imbe clients to track payments due from its students’ families.
Imbe has provided 2,000 clients with seed funding and invested follow-on funds in half of these enterprises. It also provides training on business management and improving the educational services creches provide to children.
In addition to the Netherlands, L-IFT has teams in Ethiopia, Nigeria and Uganda. Its services center on assisting financial organizations with product development, impact measurement and data access. The firm is woman-owned and was founded in 2015.
Sources and Additional Resources
L-IFT newsletter
https://mailchi.mp/4faad2a485ff/2022-newsletter-15081943
L-IFT homepage
https://l-ift.com
Imbe homepage
https://imbe.org.za
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