We know that diversity, inclusion and belonging makes us stronger. Embracing diverse experiences, backgrounds and ways of thinking help us deliver better products for customers while making JUMO a better place to work.
We believe everybody deserves access to saving & borrowing choices at the best prices, irrespective of their wealth. JUMO is accelerating systemic change so that capital can flow more freely. Our tech enables funding partners to put their best offers forward.
For close to half of customers using a financial product on our platform, they indicated it was the first time they were able to access a formal loan.
Our Customer Operating Principles guide our business practices around protection, empowerment and social impact. They have been recognised as best practice by organisations such as the Smart Campaign, CGAP, Mastercard Foundation, LendIt and the Centre for Financial Inclusion.
Through our corporate social responsibility programme, we partner with organisations that promote environmental education and participate in environmental initiatives to ensure we play a part in environmental activism.
We use the B Impact Assessment to track our social and environmental impact. JUMO achieved a best in class score in 2021 and we are progressing to B Corp certification.
We know that diversity, inclusion and belonging makes us stronger. Embracing diverse experiences, backgrounds and ways of thinking help us deliver better products for customers while making JUMO a better place to work.
Kofi Annan, former secretary general of the United Nations
Driving gender equality at all levels is important to us. This includes benchmarking and tracking progress on the number of women customers we serve and female representation in the company including senior leadership, management and our board. JUMO’s board chair is a woman which makes us one of the 7% of global companies chaired by a woman.
We have:
30% women customers
33% female board representation
41% women at management level
JUMO’s corporate social responsibility programme supports education (especially tech and financial literacy) , initiatives for youth, environmental upliftment and community development.
We believe everybody deserves access to saving & borrowing choices at the best prices, irrespective of their wealth. JUMO is accelerating systemic change so that capital can flow more freely. Our tech enables funding partners to put their best offers forward.
We’ve dropped the price of our lending products by 60% since founding by creating efficiency, which reduces the cost to the customer. This enables big banks to deploy capital at the lowest possible costs.
According to our latest customer survey, around 20% of people access our credit facilities for an emergency and 17% to pay school fees. Many customers also access loans on our platform to build their businesses (29%) and cover the inevitable cash flow deficits that come with unpredictable earning cycles (35%).
COUNTRY | Holders of Bank Account (% age 15+) |
---|---|
Zambia | 46% |
Ghana | 58% |
Tanzania | 47% |
Uganda | 59% |
Pakistan | 21% |
Kenya | 82% |
JUMO focuses on markets where financial inclusion is lagging, with the intention of redressing this issue. On average, 1 in 2 people do not have a formal bank account in the countries we operate in. We are focused on ensuring that excluded market segments such as women and farmers have an opportunity to access financial products and thrive. We use advanced data analytics and machine learning to make people who would not ordinarily qualify for finance, eligible.
Male, 25-34
Nearly one third of customers that use the financial products on our platform earn under $2 per day. JUMO is providing essential and convenient financial services that help reduce poverty and its impacts. Over two thirds of our customers see improved quality of life as a key benefit to accessing our products and services.
Many of these customers are entrepreneurs that have an irregular income and limited access to financial tools that can help them when life goes wrong. Customers using the products say that they are enjoying:
For close to half of customers using a financial product on our platform, they indicated it was the first time they were able to access a formal loan.
Our Customer Operating Principles guide our business practices around protection, empowerment and social impact. They have been recognised as best practice by organisations such as the Smart Campaign, CGAP, Mastercard Foundation, LendIt and the Centre for Financial Inclusion.
The principles relate specifically to customer value proposition (product pricing and customer service) and customer data and privacy (collection, treatment and use).
The five principles are:
We’re working to advance financial inclusion in the markets where we have a commercial footprint.
We meet all our regulatory obligations and are striving to create the best conditions for the industry. The establishment of good governance is fundamental to the success of any company. As a market leader, JUMO aims to influence and build regulatory frameworks that are responsible, transparent and take the needs of all stakeholders into account.
Our broad regulatory approach ensures we meet the highest standards in an ever-changing regulatory landscape.
We’re a technology company with a small office footprint, but remain aware of our environmental impact.
Shane Jones, Head of Business Services.
Through our corporate social responsibility programme, we partner with organisations that promote environmental education and participate in environmental initiatives to ensure we play a part in environmental activism.
We use the B Impact Assessment to track our social and environmental impact. JUMO achieved a best in class score in 2021 and we are progressing to B Corp certification.
JUMO aligns with the United Nations Sustainable Development Goals of no poverty, quality education, gender equality, decent work and economic growth, reduced inequalities and sustainable cities and communities.
Combined Assurance
The Board is responsible for ensuring sound governance, risk management and compliance processes are in place.
Executive Management
ExCo provides accurate and complete information, advice and recommendations on company structure, objectives, plans and policies so the board can make informed decisions.
Risk & Compliance
This function monitors potential exposure through an integrated assurance model that ensures appropriate assurance activities are in place to mitigate against avoidable losses.
Information Security & Data Governance
Forms part of the Risk & Compliance business unit and provides key control capabilities. Programs are in place to identify, prevent, detect and respond to threats to information systems and data assets.
Internal Audit
Provides independent, objective assurance to the Board in respect to the effectiveness of governance, risk management and internal controls. The function complies with the Institute of Internal Auditors for the Professional Practice of Internal Auditing Code of Ethics.
External Audit
External auditors are appointed and their activities performed in good faith are valid. All annual financial statements when audited and laid before an annual general meeting are deemed conclusively correct.