African Fintech Powers $650M in Loans Across 5 Countries

Millions of people across Africa now have access to loans and savings accounts thanks to a fintech company that's quietly built the infrastructure powering financial services from Kenya to Zambia.

_able (formerly Credable) announced this week that it has facilitated more than $650 million in loans across five African countries. The company doesn't make the loans itself but provides the technology that helps banks, mobile operators, and fintechs offer credit and savings products to their customers.

The Dubai-based company works with major partners including M-PESA, Airtel, Access Bank, and Diamond Trust Bank. Its platform now reaches over 40 million customers in Kenya, Tanzania, Uganda, Mozambique, and Zambia.

The rebrand from Credable to _able signals the company's expansion beyond just credit. "Over time, it became clear that our role was no longer simply about determining who is credible," said CEO Nadeem Juma. "It was about building the infrastructure that enables financial access at scale."

The need is enormous. Small and medium-sized businesses in Sub-Saharan Africa face a $100 billion financing gap, meaning millions of entrepreneurs and families struggle to access the capital they need to grow.

_able's approach solves a critical problem: most banks and mobile operators want to offer loans and savings products but lack the technology to assess risk and manage portfolios efficiently. The company sits in the middle, connecting capital providers with distribution channels through its risk models and portfolio management systems.

The Ripple Effect

What makes this story remarkable is the leverage. The company has raised just $2.7 million in funding from investors including Ventures Platform and Launch Africa, yet that small amount has helped facilitate nearly $650 million in lending.

Every loan enabled through the platform represents a family buying a home, a farmer purchasing seeds, or an entrepreneur starting a business. When financial infrastructure works efficiently, the benefits multiply across entire communities.

The company is now opening its technology to more partners and capital providers, building on a foundation that already serves 40 million people. Founded in 2021 by Nadeem Juma, Jad Abbas, and Michael Tarimo, _able operates hubs in Dubai, Nairobi, Dar es Salaam, and Pune.

"We believe credit is one of the most powerful tools of economic empowerment," Juma added. The company's goal is to help hundreds of millions of people globally access the financial tools they need to build better lives.