Educate Zimbabwe an organisation promoting quality education in the country recently partnered with UK-based Fintech company, SympliFi to allow Zimbabweans based in the United Kingdom to invest in the education of their relatives back home.
“SympliFi is a London based Fintech company launched last month with Educate our first partners, basically what we do is that we provide an alternative to remittances that enables diasporans and family members to get more impactful financial solutions.” Maurice Iwunze co-founder of SympliFi told Daily Afrika.
SympliFi will allow Zimbabweans in the UK guarantee loans for their relatives back home, something that would have been hard.
“What we do is we got technology platform that enables beneficiary in Zimbabwe to be able to access low-interest loans and traditionally they may be blocked in order not to get loans, in this case, their family member in the UK can act as a guarantor,” He says.
“Our platform connects the lender in Zimbabwe such as Educate and the diaspora in the UK to facilitate this transaction in a matter of minutes over the phone and laptops and we provide it as a fee-free service, we don’t charge any fee to the guarantor. Our mission is we can deliver the same financial solutions in Zimbabwe, they are now able to get the financial services, without sending the money or paying incurring high rates,” he added.
Educate provides affordable and easily accessible financing solutions for students to attend any of its 53 education institution partners across Zimbabwe, Zambia, Rwanda, and South Africa.
While SympliFi’s technology platform eliminates traditional borders to provide diaspora impactful financial solutions that directly improve the long-term financial well-being of their loved ones back home, and their country at large. The company is based in London, with operations in Zimbabwe, Nigeria, and Tanzania.
The service started in August and it is set to benefit Zimbabweans with children attending any of Educate’s partners.
“We are always looking for more ways to improve people’s lives and our partnership with SympliFi will help advance our mission of improving access to quality education for Zimbabweans,” says Mr Terrence Mugova, co-founder and managing director of Educate.
“We are so excited that we no longer have to turn away potential customers and can now help a larger part of the population, without any barriers or borders.” He adds.