Financial services start-up JUMO, backed by Goldman Sachs and valued at $400 million, has appointed former ICT Secretary Joe Mucheru as its new president to drive expansion in Africa.
We are honoured to be able to welcome Joe to JUMO. He brings an invaluable perspective, given his experience as an entrepreneur, Google executive and regulator.
Jumo founder Andrew Watkins-Ball
JUMO provides credit, savings, and infrastructure services to entrepreneurs and businesses in emerging markets.
In his role, Joe Mucheru will aid the company in reaching its growth goals, navigating regulations, and expanding the company’s footprint across Africa.
Mr Joe Mucheru previously served as the head of Kenya’s ICT Ministry and was a regional lead and country manager for Google in sub-Saharan Africa before his appointment by former President Uhuru Kenyatta in 2015.
Additionally, he held various corporate positions, including heading Sub-Saharan Africa for Google, co-founding internet service provider Zuku, and serving on boards such as the M-Pesa Foundation Academy, Bitpesa (now Aza Group), GiveDirectly, and former Chairman of the African Telecommunications Union.
Jumo, founded by CEO Andrew Watkins-Ball in 2015, has raised over $200 million from investors like Goldman Sachs and Leapfrog and operates in 6 African markets and Pakistan with tech hubs in Cape Town, Nairobi, Porto and London.
The firm is expanding and plans to enter Cameroon in Q1 2023, then Nigeria and Benin in Q2. New products for Ghana and Uganda are also intended.
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