Former ICT Cabinet Secretary Joseph Mucheru has been appointed as the president of JUMO.
JUMO, a London-based fintech company founded in 2015, is currently valued at about Kshs 50 billion and is one of the recently-approved digital credit providers in the country by the Central Bank of Kenya.
JUMO offers savings and credit products to entrepreneurs.
“JUMO has built an intelligent platform that enables banks to reach millions of new customers with credit and savings products. JUMO is focused on making it easier for capital providers to reach new customers at affordable prices while making predictable returns,” the company says of itself in the press statement announcing Joe Mucheru’s appointment.
“JUMO is revolutionising the lending space in Africa, connecting entrepreneurs and individuals to the financial products they need to grow and prosper,” Mucheru is quoted saying.
“I am hugely excited to be joining a business that is helping capital providers make attractive returns at the same time as supporting measurable impact.”
Before being appointed as the Cabinet Secretary for Information and Communication Technology (ICT) by former President Uhuru Kenyatta in 2015, Mucheru was serving as the regional head of Google in Kenya. Before that, Mucheru had worked at Wananchi Group, the company that owns internet service provider Zuku, a company he co-founded in 1999.
