Asante Financial Services Group (“Asante”) has raised US$7.5-million from investors led by Goodwell Investments. Asante is a credit provider to micro, small and medium enterprises based in Kenya, Rwanda and Tanzania. The company intends to expand into Uganda and possibly Nigeria. Asante was established in 2016 in Mauritius, initially as a subsidiary of Atlas Mara. This innovative company is led by Chidi Okpala, who was the former Group MD of Digital and Fintech at Atlas Mara and former CEO for Airtel Money Africa at Bharti Airtel International. The stake acquired by Goodwell Investments and other investors was not disclosed.
Goodwell Investments is an impact investor focused on financial inclusion, fintech and inclusive growth in emerging markets. The firm has funds under management of over US$150-million and its portfolio companies have reached over 28-million households with over US$2.1-billion in financial products. Goodwell Investments has invested in Paga (Nigeria), Nomanini (South Africa), Musoni Systems (Africa), MFS Africa (Africa) and Lydia (Nigeria) among others.