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OVAMBA - Connecting Investors to Sub-Sub-Saharan Africa
February 9, 2015
GLI Finance Limited (“GLI Finance”), a leading investor in the alternative finance sector, recently announced that it has invested $1.28 million in Ovamba Solutions, Inc.
Ovamba, a USA based investment firm is co-founded and managed by ViolaLlewellyn and Marvin Cole. Viola Llewellyn is the Global COO of Ovamba and is one of the rising African experts in the field of alternative investments and financial technologies (FinTech). Ovamba is part of a new wave of problem-solving companies in the African investment field that uses technology as the driver for change and access to capital.
The main purpose of Ovamba is to match and connect under-served borrowers to lenders who want to invest in African businesses. This model is commonly known as "peer-2-peer" investments, or, in the case of Ovamba, "peer-2-business" investing. Ovamba is capitalizing on the huge opportunity that African small and medium enterprises represent, and expansion in the banking industry which is wide open to technological innovation. The investors who want to lend to African SMEs tend to be global institutional investors, financial entities, and accredited investors, including some from the African Diaspora.
Geoff Miller, Chief Executive of GLI Finance stated: “Ovamba is a hugely exciting business that uses the latest technology to connect the members of the more than 40 million strong African population to local investment opportunities. Ovamba also exemplifies the universal demand for alternative finance and I am delighted that GLI Finance is partnering the business”