Latest News
Latest News

Asante Financial Services Joins Mastercard Start Path 

May 4, 2021 @ 9:00 a.m. EAT – Asante Financial Services has been selected to join Mastercard Start Path, an award-winning startup engagement program. Asante is among a group of only 6 startups chosen from across the globe to join the newest class. Annually, Mastercard Start Path evaluates approximately 1,500 startups and less than 2% of those applications are accepted. The six-month program provides startups with operational support, commercial engagement and the opportunity for strategic investment.

Asante is a provider of high impact digital financial services for small businesses and individuals in Africa, facilitating financial independence and improvement in wellbeing.

Asante has partnered with some of the largest corporations in Africa to extend much needed credit to the SMEs and individuals in their ecosystems. We continue to develop propositions that enable SMEs and individuals to not only enjoy a wide range of financial services but to effectively take charge of their businesses and finances. Asante is currently operational in Kenya and Uganda with plans to be in 10 countries by 2025.

Kenya being a leader in digital payments and mPesa being the dominant means of electronic payments, we expect a further disruption of cash as more people will avoid “cash notes” because of the likelihood of being a medium for contracting the virus; this has been further emphasised in the press release by the government. Thus, activity levels at our Merchant points are expected to increase.

As our customers are predominantly (in excess of 70%) involved in General Trade/Retail, we expect to see as a minimum, a sustained level of activities, as a result of the points highlighted above.

“We are quite enthused about this opportunity to collaborate with Mastercard, a global leader in payment technology. Joining the Start Path program will give us access to expert mentorship, exposure to Mastercard’s global-reaching markets and the opportunity to learn from and integrate with Mastercard’s network of experts, customers and partners. The COVID pandemic has elevated the urgent need for small businesses and individuals in Africa to infuse resilience into their business and personal finance, and this is Asante’s primary purpose.” said Chidi Okpala Founder & CEO, Asante Financial Services Group.

“As the fintech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help fintech innovators grow and ultimately bring more people into the digital economy,” said Amy Neale, Senior Vice President, Fintech & Enablers. “The newest Start Path companies represent the future of the fintech industry and are designing inclusive solutions that anticipate consumer needs – we’re thrilled to partner with these innovators on their path to scale.”

“Technology combined with creativity is making it possible to bring more people into the digital economy faster and more seamlessly than ever before,” said Amy Neale, Senior Vice President, Fintech & Enablers at Mastercard. “Through Mastercard Start Path, we’re partnering with Asante Financial Services on their path to scale and providing the technology, expertise and resources to help drive a more inclusive economy.

Asante’s current strategic corporate channel partners include Safaricom, Airtel, MTN, Mastercard, Samsung, JUMIA and Jubilee Insurance. We are presently operational in Kenya and Uganda with plans to have 10 presence countries by 2025.

Start Path is Mastercard’s award-winning startup engagement program that brings together a network of innovators from across the globe to shape the future of commerce together. Startups benefit from the knowledge of a global network of Mastercard experts, technologies and channels. Banks and merchants gain access to a global portfolio of elite startups to accelerate commercial products and solutions through collaboration. With more than 250 startups in the network since its founding in 2014, Start Path companies have gone on to raise more than $3 billion in post-program capital.

For more information about Start Path, visit

Chidi Okpala


Michael Munga

Chief Risk Officer

Asante Financial Services Selected As Finalist In 2020 MIT Solve Innovators Challenge

Asante Financial Services is one of the finalists in the 2020 Global Innovators Challenge. 90 finalists have been selected from over 2,700 solutions, from 135 countries. We are participating under the Good Jobs & Inclusive Entrepreneurship!

Click the link below to view the list of the finalists:
View your fellow innovators here.

We can’t wait to pitch at Virtual #SolveChallengeFinals on Sept. 29!

September 2nd 2020

Chidi Okpala


Michael Munga

Chief Risk Officer

Asante Financial Services Selected As Finalist In 2020 DIFC Fintech Accelerator Program

Asante Financial Services is one of the finalists in the 2020 DIFC Fintech Hive Accelerator Program. From over 600 applicants from Africa, ME, Europe and Asia, 17 firms have been selected from.

We will be working on the Islamic Banking propositions of our soon to be launched Neo Bank. And we are honoured and privileged to have the Dubai Islamic Economic Development Centre (DIEDC) as our programme mentor and sponsor. DIEDC was established in 2013 under the supervision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; founded on the seven pillars of finance, the halal industry, tourism, digital infrastructure, art, knowledge and standards.

Click the link below to view the list of the finalists:

August 31st 2020

Chidi Okpala


Michael Munga

Chief Risk Officer

Asante Financial Services to expand to Uganda and Rwanda

Asante Financial Services has secured regulatory approvals to expand its operations to Uganda and Rwanda. The issuance of a financial services license by the Uganda Microfinance Regulatory Authority (UMRA). This timely approval positions us for the commencement of operations in Uganda by October.

We will be working on the Islamic Banking propositions of our soon to be launched Neo Bank. And we are honoured and privileged to have the Dubai Islamic Economic Development Centre (DIEDC) as our programme mentor and sponsor. DIEDC was established in 2013 under the supervision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; founded on the seven pillars of finance, the halal industry, tourism, digital infrastructure, art, knowledge and standards.

We have also received the approval of our license by the National Bank of Rwanda (Central Bank). Known as the land of a thousand hills, Rwanda is ranked as the second easiest place to do business in Africa by the World Bank and has been awarded for its leadership in economic competitiveness by the World Economic Forum. We target to launch in Rwanda in Q1 2021.

September 1st 2020

Chidi Okpala


Michael Munga

Chief Risk Officer

Our Privacy Policy


Asante financial Services respects customer and client privacy and is committed to protecting the confidentiality of all personal information entrusted to it. This statement explains policies, practices and security measures that Asante financial Services has in place to safeguard customer personal and confidential information. It covers any products or services customers have with Asante financial Services, including loans.This privacy policy discloses some or all the ways Asante financial Services gathers, uses, discloses, and manages a customer or client’s data. It is in line with the legal requirement and global best practices to protect our customer or client’s privacy. It should be read alongside the relevant product terms and conditions provided under each customer agreement, as these also include sections relating to the use and disclosure of information.



Asante financial Services provides financial products and services through its online systems. Generally, when one visits the Asante financial Services’s website, they are not required to provide any personal information, the organization also does not collect any unique identifying information about customers browsing our website unless one voluntarily and knowingly provides that information, when one sends us an email or completes an application online. If customers provide this information, it is only used internally and in furtherance of the purpose for which it was provided.There are instances where the Asante financial Services must have a customer or client’s personal information in order to grant access to protected and secured sites. This information may include registration data (name, email address, phone number) when registering for online or mobile based financial services provided by Asante financial Services. Personal information is also collected during client onboarding in compliance with Know Your Customer (KYC) regulations and when carrying out financial transactions.
Generally, the Asante financial Services collects the following information:

  • Individual personal information (e.g. name, age, and place of birth).
  • Individual personal contact details (e.g. physical address, email address, mobile numbers).
  • Identity information (e.g. photo ID, passport, utility bill, national ID card and nationality).
  • User authentication login (e.g. login credentials for online apps).
  • Financial information about the ways you interact with Asante financial Services (e.g. channels used, payment history from and to your account, transaction information, geographic information, and information concerning your complaints).
  • Other relevant financial information as deemed fit for the purpose of offering an enriched proposition to the client or customer
  • Information captured in customer documentation or data exchange such as application forms or advice documents or via telephone.
  • Cookies and similar technologies used to remember your preferences and tailor content.
  • Risk rating information (e.g. credit risk rating and transactional behavior).
  • Data or records of correspondence related to relevant exchanges of information (e.g. emails).
  • Information from third parties providing information to identify and manage fraud.
  • Closed circuit television (CCTV) in and around Asante financial Services facilities (these may collect photos or videos of you).
  • Voice recorded for quality and security purposes through voice call enquiries made at Asante financial Services Call Center.
  • Other information about you that is voluntarily provided by filling in forms, participating in marketing research, surveys, customer forums or by communicating with us, whether face-to-face or via other available channels (e.g. by phone, email, online).



Asante financial Services collects only the personal information necessary to fulfill customer requests and to provide the requested and/ or agreed services. Personal information is not used for purposes other than those listed in this document, unless permission is obtained, otherwise required by law.
Information collected is used to:

  • Verify customer identity (e.g. for authentication or for anti-money laundering procedures).
  • Provide services and delivery products (including via online platforms).
  • For communication purposes with our customers
  • Deal with your transactions or carry out instructions.
  • Perform data analytics and understand your preferences and how you use the provided services.
  • Keep a record of correspondence (e.g. to check instructions given or to enhance service quality).
  • Meet compliance and legal obligations such as to comply with CBK regulatory framework.
  • Manage our relationship with customers (including any marketing activities you agree to).
  • Collect any money owed to Asante financial Services.
  • Perform credit checks and obtain or provide credit references.
  • For inter nal operational support and administrative purposes (e.g. product development, audit, credit and risk management).
  • Complete surveys that we use for research purposes, although you do not have to respond to them.
  • Ensure security and business continuity.
  • For service quality management and product improvement.
  • Correspond with third parties (e.g. CRB’s, payment service providers, debt collectors).
  • Carry out investigations (e.g. due diligence checks, sanctions and anti-money laundering checks).

To ensure decisions are quick, fair, efficient and correct, based on information held; Asante financial Services may use systems to make automated suggestions and decisions that can affect the products, services or features offered to customers. The types of automated decisions include:

  • Tailored Products and Services: Asante financial Services may group customers with similar customer segments to study and learn about their needs, design products and services and to make decisions based on what we learn.
  • Credit risk rating and detecting fraud: Personal, financial and transactional information may be used for risk and credit rating purposes.



Asante financial Services does not disclose any Customer Information about current customers, former customers, or website visitors to anyone, except as permitted or required by law. We also do not sell any of our customer’s personal information.

Personal information can however be shared with affiliated third parties such as;

  • Service Providers acting on Asante financial Services’s behalf to provide financial services. Asante financial Services will only transfer personal information to them when they meet privacy and security standards for processing of data. We only share personal information that allows them to provide their services.
  • Courts, law enforcement and regulatory bodies in order to respond to requests of courts, government or law enforcement entities or where it is necessary to comply with applicable laws, court orders or rules, or government regulations.
  • Payment recipients, beneficiaries, intermediaries, nominees, clearing houses, fraud prevention agencies, debt recovery agencies, guarantee providers, other financial institutions, lenders and tax authorities, credit reference agencies, payment service providers,
  • We may also share aggregated or anonymized information with partners such as research groups or universities.



The Asante financial Services will take all necessary steps to ensure that customer data is treated securely and in accordance with this privacy policy statement. Security standards and procedures are maintained to prevent unauthorized access/loss, misuse, alteration, or destruction of data. Asante financial Services uses technologies (e.g. data encryption, firewalls) to protect the security of customers. All staff members and third parties are required to observe this privacy standards and to allow Asante financial Services to audit them for compliance. In the event that one ceases to be a customer of Asante financial Services, according to the organization’s data retention practices, and in compliance with CBK regulations, Asante financial Services shall retain the data for a period of up to Seven (7) years. After expiration of the aforementioned period, Asante financial Services may anonymize the data or aggregate it for analytical purposes. The customers have the right to request all or part of their data erased from Asante financial Services system. They also have the right to request that their personal information be corrected or updated in case of changes.



Please note that, Asante financial Services Ltd may review and update this Privacy Policy from time to time as needed with or without notice. Therefore, you should review the terms of this policy periodically to make sure that you are aware of how Asante financial Services collects and uses personal information. By using our financial products, you consent to the collection and use of your personal information by Asante financial Services.