How EvMak Is Rewriting the Fintech Playbook for MSMEs

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Africa’s beating economic heart is not found in high-rise offices or venture-funded tech parks. It pulses in the open-air markets, the roadside kiosks, the women-led cooperatives, and the boda-boda repair shops. It’s powered by Micro, Small, and Medium Enterprises (MSMEs)—and in Tanzania alone, they make up over 95% of all businesses, employing more than 7.8 million people.

Yet, despite their critical role, MSMEs across the continent are navigating a broken system. Everyday transactions remain largely informal, cash-based, and undocumented. Business owners many of them women and youth operate with no credit records, limited access to digital tools, and no bridge to formal finance.

The Cost of Being Left Behind

Why is it still so hard for Tanzanian businesses to get paid digitally in 2025?

Tanzania is leading Africa in mobile money transactions over TSh 66 trillion was processed in Q1 2024 alone but it also leads in high transaction fees that disproportionately affect small businesses. While big corporations pass on these costs or negotiate deals with payment providers, MSMEs absorb them. And that’s if they even go digital—many still track sales by memory, write invoices on paper, and stash earnings under mattresses.

It’s not for lack of will. It’s for lack of tools that work for them.

A Familiar Story with a New Ending

EvMak’s journey mirrors the paths of many Tanzanian innovators who started solving one problem and uncovered a deeper one.

Like Black Swan ( Formerly Tausi), which began as a data consulting company before evolving into a full-stack digital infrastructure startup, or Neurotech, which entered the scene as an AI consulting firm and now powers everything from intelligent chatbots to retail automation.

EvMak, too, didn’t start in fintech.

It began its journey as a technology development firm, building digital solutions for organizations and institution

But when their own team couldn’t receive timely payments for services rendered, they started digging. What they found was a structural gap: MSMEs lacked access to digital payments, sales tracking, credit scoring tools—all the basics of modern business management.

EvMak pivoted, but not to follow hype. They pivoted to fix what they knew was broken.

Built for Underserved Markets

EvMak is a BOT-licensed fintech startup bringing mobile-first, low-bandwidth, no-hardware-needed financial tools to MSMEs across Tanzania.

With EvMak, business owners can:

• Accept mobile payments,

• Track daily sales and cash flow,

• Generate digital invoices,

• And access credit insights and AI-powered business advice—right from their phones.

Built for the Real Africa

Since launching,

• EvMak has served over 1,500 MSMEs.

• Impacted more than 121,000 end users

• 40% of the businesses using the platform are led by women or youth, two groups often left out of formal financial systems.

The combination of simplicity, affordability, and mobile first design has contributed to consistent organic growth.

Africa’s Fintech Isn’t One-Size-Fits-All

Let’s be clear: Africa doesn’t need clones of Stripe or Square. Our businesses are different. Our barriers are different. Our potential? Unmatched—but untapped.

EvMak’s edge lies in being a fintech designed for Africa’s smallest players, not its elite. It fills the void left by global and local incumbents whose tools are too bulky, too expensive, or too disconnected from how business is really done on the ground.

Looking Ahead: A Pan-African Vision

With operations firmly rooted in Tanzania, EvMak has its sights set on Malawi and Zambia next. Pilot programs and strategic partnerships are already underway, and the roadmap includes introducing credit, insurance, and data-driven financial services customized for MSMEs.

Backed by early-stage programs and strategic partners, and now seeking additional investment, EvMak is ready to scale not just features, but impact.

The Final Word

Tanzania’s MSMEs are not a small opportunity they are the economy. And platforms like EvMak are showing what happens when you meet entrepreneurs where they are, with tools that fit their world.

So the real question isn’t whether fintech can change Africa. The question is: Which companies are bold enough to design for Africa as it truly is?

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