In recent years, a number of fintech solutions have entered the African market. Their aim is to be alternatives for largely under-banked populations. 

Cassbana is a fintech solution developed by an Egyptian start-up. It allows small merchants to buy goods from partners and pay in small installments. 

"Cassbana is a technology solution that builds financial identities for the underserved communities in Egypt through managing their business needs and building a behavior-based scoring system, making us the future data-based financial advisory collective," the explains on its website.  

The solution has an Android app that allows users to create their accounts and access Cassbana’s services. Based on the usage data collected, the startup uses AI and machine learning to customize and improve the services offered to each merchant. 

On Playstore, the Android app has been downloaded more than 50,000 times. With the solution attracting a growing number of users, Cassbana founder Haitham Nassar wants to roll out new services to better serve users. In 2021, the startup had already raised US$1 million to support its growth. 

Adoni Conrad Quenum