Press Release
BAO ENGAGE 2023: Meet Fatumata Soukouna Coker
BAO ENGAGE 2023 Special Guest, Mrs Fatumata Soukouna Coker
Business Africa Online (BAO), a media and business consulting company today announced Mrs Fatumata Soukouna Coker as the Special Guest for its annual exclusive in-person conference tagged BAO ENGAGE 2023. Mrs. Fatumata Soukouna Coker is a Liberian born, passionate and dedicated to the transformation of her African Continent through technology and incredibly committed to all her various communities that she is a part of around the globe.
Mrs Fatumata Soukouna Coker has over 20 years of experience working with Fortune 500 companies in the high-tech industry, including extensive global management responsibilities at IBM in the USA, African experience at Microsoft and Nigerian experience at Soft Solutions Limited, a Nigerian information technology solutions company. Her specialty in global and emerging markets has enabled her to work with a wide variety of companies in the USA, Africa, India, and the Middle East.
In October 2010, she was appointed Managing Director/CEO of Soft Solutions Limited (SSL). She transformed the SSL brand and people capacity to become one of the leading information technology solutions providers and consultancies in Nigeria and West Africa, with major focus on the financial sector.
Mrs. Coker is the Chairman of Afrinvest Securities Limited, a leading Nigeria based investment bank and December 2019 she was appointed Chairman Board of Director at CreditRegistry Services, after only serving 2yrs as Chairman of the governance and nomination committee of the board, CreditRegistry Services is a pioneer credit reference agency in Nigeria.
She also participates in start-up forums and IT incubators across the globe, including faith based organizations as well and is a very active member in her communities, sharing her expertise with the LBS Executive MBAs and American University of Cairo Business School Undergraduate; is on the National Planning committee of the Institute of Board of Directors (IoD) Nigeria and a member the NESG Technical Subcommittee. Mentor for undergrads at GBS, Emory University,
She is the founder of Ygroup Holdings, Inc and YGH West Africa Limited a West African technology and business payments and settlement Integration Company headquartered in Monrovia, Liberia and Lagos, Nigeria. She is co-Founder and Chair at Center for Women & Children Empowerment, Inc. CEWCE is a non-profit, non-governmental organization established with the vision to empower vulnerable women and children in a post-war society in Liberia.
Lendsqr, a global provider of loan management software for banks, microfinance institutions (MFIs), and digital lenders, has launched a groundbreaking onlending initiative aimed at bolstering the capacity of Nigerian lenders to extend credit to their customers.
With this new initiative, Lendsqr is setting up a capital pool of up to N1 billion line of credit for lenders targeted at Lenders with State Moneylender or Cooperative licenses, giving them the much-needed access to capital that can drive sustainable growth and expansion.
“For a long time, we believed that providing top-tier lending technology was enough to help lenders scale,” said Adedeji Olowe, CEO of Lendsqr. “But technology alone cannot scale a loan business without adequate capital. That’s why we decided to go a step further and solve this critical need.”
The onlending model is designed to support digital lenders who often face challenges accessing loan capital, allowing them to access credit at a reasonable rate. Through this initiative, Lendsqr aims to bridge the gap between technology and capital, ensuring lenders can meet the demand for loans while remaining competitive.
A new era of B2B2C lending
Lendsqr’s onlending initiative represents a strategic step forward in Nigeria’s lending ecosystem. With the ability to offer overdraft loans, the company enables smaller financial institutions to lend confidently, knowing they have a reliable source of capital backing them up. This move is expected to deepen financial inclusion, create a ripple effect on local economies, and ultimately support the development of a healthier financial services landscape in Nigeria.
Lendsqr now joins established onlending capital in Africa such as Lendable, the Nigerian Bank of Industry, and the African Finance Corporation, in providing capital to lenders to drive financial inclusion and much needed growth within the SME economic subsector.
Expanding access and opportunities
By providing loan capital directly to digital lenders, Lendsqr aims to empower lenders to reach more customers, serve new markets, and achieve more stable growth. The initiative not only addresses immediate funding gaps but also sets a foundation for long-term partnerships across the financial industry.
“We’re excited to be the catalyst for growth in Nigeria’s lending sector. Our onlending initiative isn’t just about providing capital. It’s about enabling a stronger and more inclusive financial ecosystem where every licensed lender, big or small, can thrive,” added Joy B. Bello, Head of Sales at Lendsqr.
Lendsqr’s onlending initiative is currently available exclusively to Nigerian lenders. Interested parties can learn more and apply at Lendsqr Capital Portal.
Qore has announced the successful approval to implement its indigenous core banking solution, BankOne, in Tanzania. This landmark achievement marks Qore’s debut implementation of BankOne in Tanzania, underscoring the company’s dedication to deploying disruptive fintech infrastructure that enhance financial inclusion, automate banking processes, and facilitate seamless payments.
The Tanzania Cooperative Development Commission (TCDC), which oversees over 2,500 Saccos, including several regional and national cooperatives, plays a pivotal role in ensuring the smooth operation and regulation of these entities. By collaborating closely with TCDC, Qore aims to empower Saccos to secure and grow their members’ funds with ease, while providing real-time, cloud-native banking experiences through BankOne. This collaboration is set to revolutionize the cooperative sector in Tanzania, driving financial inclusion and innovation at an unprecedented scale.
Qore’s solution is designed to support the unique needs of Saccos, offering features such as real-time transaction processing, comprehensive financial reporting, and robust security measures. By leveraging BankOne, Saccos will be able to streamline their operations, reduce costs, and enhance the overall member experience.
This implementation is a significant milestone for Qore as it continues its rapid international expansion. “The deployment of BankOne in Tanzania is a testament to our commitment to bringing innovative banking solutions to new markets,” said Timothy Ngao, Country Manager for Tanzania at Qore Technologies. “We are excited to support the financial growth and stability of cooperative societies in Tanzania, and we look forward to many more successful implementations in the region.”
The company is proud to be at the forefront of this transformation, supporting the development of sustainable and economically viable cooperative societies across Tanzania.
Press Release
Scale secures $700,000 in pre-seed funding to simplify card issuing and payments in Africa
