Banking technology company JUMO has launched a new social finance framework (SFF) in partnership with Standard Bank’s sustainable finance team.
The parties explain that the framework aligns with internationally recognised sustainable finance guidelines and provides a transparent structure for raising social finance, such as social loans and social bonds.
This will fund financially inclusive lending activities on JUMO’s technology platform to positively impact underserved individuals, microenterprises and small and medium-sized enterprises (SMEs) across the nine African markets JUMO operates in.
With a multibillion-dollar addressable lending opportunity and a scalable, technology-enabled platform, the companies note that JUMO is well positioned to deploy capital efficiently across high-growth African markets.
They add that the framework is also supported by a positive second party opinion from Endiligence.
Founded with the aim to close the access gap in financial systems for emerging markets, JUMO has built AI-powered technology and lasting partnerships with financial institutions and telecommunications services providers (telcos) to expand access to financial services for communities traditionally excluded from formal banking systems.
JUMO has demonstrated rapid and accelerating scale, with over $10-billion in lifetime disbursements and more than 313-million loans delivered since inception.
This is underpinned by 79% year-on-year growth in disbursements and record monthly volumes.
Standard Bank and JUMO, in a joint media release, note that the platform delivers measurable inclusion outcomes, with millions of new-to-bank customers, significant participation from youth, women and rural populations, and meaningful exposure to low-income segments often excluded from formal finance.
The framework supports funding for eligible social activities including SME and microenterprise financing, employment generation, economic empowerment and access to responsible digital financial services.
JUMO operates digital financial ecosystems across multiple African markets, with further expansions planned across the continent.
“The launch of the framework represents an important milestone in JUMO’s sustainable finance journey and underpins our core commitment to responsible lending. It enables a broader pool of development finance institutions, impact investors and sustainability-focused funders to access transparent and measurable social impact opportunities in Africa,” says JUMO CEO Paul Whelpton.
“The framework standardises the governance, reporting and impact measurement processes intended to provide investors with confidence that financing is directed towards eligible social activities aligned with global sustainable finance standards.
“The framework provides a credible, transparent vehicle to channel institutional capital into JUMO’s proven platform at scale,” adds Standard Bank sustainable finance VP George Karamitsos.
By combining JUMO’s technology-driven banking infrastructure with sustainable finance principles, the jointly established framework aims to accelerate access to responsible credit and unlock economic opportunity for millions of underserved consumers and businesses across the continent.
Capital directly supports underserved populations, including youth, women, rural communities and low-income individuals, with clear evidence of improved livelihoods.