November 10th, 2020, Cairo, Egypt

 

TradeTech innovator, Ovamba Solutions (www.Ovamba.com) and financial services provider, Singularity Finance (www.Singularity.finance) have partnered to deliver financial inclusion and growth capital to small and growing businesses in Egypt. Singularity are the first to sign a Reseller Agreement with Ovamba in the region. This new partnership gives Singularity the rights to sell Ovamba’s digital solutions to banks, microfinance institutions and other alternative providers of trade finance to small and medium enterprises in Egypt.

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BankPartner™ is a SaaS suite of systems that uses alternative risk scoring parameters to assess and process transactions for small, medium and informal businesses who are involved in trade, importation, supply chain and manufacturing sectors. It combines eCommerce, inventory purchase services, logistics, warehousing and other end-to-end workflows. Financial institutions who license BankPartner™ are positioned to better serve customer segments that have proven to be high risk or do not meet traditional bank requirements for loans, trade finance, LCs or other commercial banking products.

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For enterprises who wish to originate and invest in trade finance transactions independently, there is Pamoja™. Pamoja™ showcases the same capabilities found in BankPartner™ and streamlines the work flows for investor and portfolio management, and financing transactions of any kind. 

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Mohamed Taysir, CEO & Co-Founder of Singularity said, “With this partnership we at Singularity have been able to expand our financial eco-system offering; by adding a set of bank grade products that are tailored for our part of the world. Even more so we are empowered to start offering this tool to other Banks and MFIs to start rolling out their own platforms; this allows for a true disruption in how we as a country can reach financial inclusion”. He went on to add, “Singularity's ability to contribute to such an important national directive is enhanced by our partnership with Ovamba which will allow for even more disruption on the Pan-African level.”

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Co-Founder & President of Ovamba, Viola Llewellyn said, “we are really excited about this partnership. Ovamba has invested significantly in BankPartner™, Pamoja™ and Jasmeera™. Embedding Islamic finance elements into our technologies and business systems has proven to be very effective at de-risking small business finance. Egypt is an important market, and Singularity are well positioned to pioneer in an era of business growth for small businesses and digital engagement for Financial Institutions.”

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Both Ovamba and Singularity, in responding to the near future outlook, said that they expect to be fully engaging banks and serving businesses in Q1 2021.

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About BankPartner™ & Pamoja™: 

BankPartner™, Pamoja™ and Jasmeera™ are the Intellectual property and protected licensed products created by Ovamba Solutions, Inc. All three are available as white label solutions to end users and financial institutions. For more information contact your local Authorized Reseller or contact Ovamba Solutions, Inc.