SympliFi has expanded its service offering in Zimbabwe with the announcement of new partnerships with Zimnat, a leading microfinance institution, and MediPay, a Zimbabwe-based health care finance provider. The new partnerships will provide Zimbabwe diaspora and their family’s back home access to credit for business activities and health care needs, in addition to education financing through existing partnership with Educate, an education lender.
SympliFi’s mission is to empower the diaspora community around the globe to build prosperity in their home countries in a seamless and more efficient manner. The first of its kind online platform that connects diaspora with financial institutions in their home country to access sustainable financial solutions for productive uses such as entrepreneurship, education financing, and healthcare.
The ability to access financing for healthcare is especially critical in Zimbabwe. The economic conditions have made it increasingly more difficult for people to afford access to medical services, as more than 90% of the population is uninsured and those insured a burdened with huge shortfalls. Recognizing these challenges, MediPay partnered with SympliFi to enable Zimbabweans in the United Kingdom to serve as guarantors to help their family back home finance health care costs.
The partnership with Zimnat is aimed at mobilizing investment in Zimbabwe by its diaspora community by unlocking access to local capital to help spur the growth of the Micro and SME sector in the country. Zimnat is utilizing SympliFi’s platform to provide diaspora, and their family members back home, access to business loans. The digital loan product is processed online and funds disbursed within 48 hours, without onerous loan requirements.