Lula appoints ex-Jumo Africa CEO as board chairperson

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 22 Mar 2024
Buhle Goslar, Lula board chairperson.
Buhle Goslar, Lula board chairperson.

Lula, a provider of digital finance solutions for small and medium enterprises (SMEs), has appointed Buhle Goslar as its new board chairperson.

In a statement, Lula says Goslar has extensive experience in the emerging market fintech space, most recently as CEO of Jumo Africa.

It notes she joins Lula at a pivotal moment, as the company embarks on its next phase of growth, having completed a $35 million Series B funding round. It also launched its digital business banking platform in 2023.

Accepting the appointment, Goslar expressed her enthusiasm for the company’s mission and the strides made in assisting South Africa's SMEs since its inception in 2014.

“The decision to join Lula was an easy one. The company's dedication to empowering SMEs is aligned with my personal passion for driving more inclusive economic growth,” says Goslar.

“The team at Lula have built a track record of connecting SMEs with essential funding, and the recently launched full-service digital bank dedicated to these businesses – the first in South Africa – builds on this. The importance of Lula's work, both for SMEs and at the macro level, is inspiring.”

Looking ahead, Goslar is equally excited by the potential Lula has to set new benchmarks in SME banking and the impact this will have on the country's economic growth.

“By investing in new data capabilities, enhancing user experiences and forging new strategic partnerships, we'll continue to further differentiate Lula in the market. Lula's SME proposition focuses on the 'missing middle', which is critical for job creation but still underserved by traditional banks,” she says.

Goslar plans to share vital lessons learned in adapting to local market context, scaling partnerships and building customer trust to support Lula's strategic goals, says the firm.

“As a board, we are conscious that the new banking offering presents an opportunity for Lula to be more inclusive than ever and effectively build scaffolding for SMEs to access improved cash-flow solutions. I look forward to supporting the team in this effort, which will see us servicing more female-owned and other marginalised SMEs,” she says.

Goslar believes resilient economies require inclusive growth and her approach to leadership is in part guided by the principle of developing solutions that work for the majority and not just the few.

Lula CEO and co-founder Trevor Gosling says: “We welcome Buhle's leadership and look forward to benefiting from her significant experience operating in emerging market fintech environments. We're confident she will help us achieve our ambitious growth objectives, while also maintaining the highest standards of corporate responsibility.”