Nairobi, Jan. 30 -- Goldman Sachs-backed South African financial services start-up has appointed former ICT Secretary Joe Mucheru as the president of the company to rev up its expansion plans on the continent.

JUMO, which is valued at Sh49.7 billion ($400 million), offers financial services to entrepreneurs and businesses in emerging markets. It offers credit and saving products to customers as well as infrastructure for telcos, banks, fintech and e-commerce platforms.

The company, founded in 2015, said in a statement that in his new role, Mr Mucheru will support the company to deliver its growth goals, navigate the regulatory landscape, and build the firm's presence across the African continent.

Mr Mucheru was tapped by former Preside...