Small and medium-sized enterprises (SMEs), particularly in Africa, face significant challenges ranging from limited access to financial tools, business insights, and credit access. Despite being the backbone of most economies, these businesses often operate without the data or resources needed to grow sustainably. This lack of support hinders their potential, stifling economic progress in the regions they serve.
Meghan McCormick, an entrepreneur and leader based in Ghana, has identified this challenge and set out to create solutions for SMEs worldwide through Oze- a fintech she co-founded with Dave Emnett. She has extensive experience in innovation and economic development.
As co-founder and CEO of Oze, she envisions a world where entrepreneurs, regardless of location, can access the tools necessary to manage their businesses effectively and make informed decisions.
Oze is a business app that has become a lifeline for thousands of SMEs, especially in Africa, transforming how business owners operate and keep records of their operations. They offer a mobile and web-based app that helps SMEs record daily transactions, track sales, monitor expenses, and manage inventory. By digitising these processes, business owners can better understand their financial health.
The app addresses a fundamental problem— the lack of data-driven decision-making among small business owners. Oze’s impact has been significant, particularly in regions with limited access to business support services. By offering a user-friendly platform, Oze empowers business owners to make informed decisions based on their data, leading to increased profitability and sustainability.
The app also facilitates access to financial services by generating credit scores based on business performance, enabling entrepreneurs to secure loans and expand their operations.
As of January 2025, Oze has empowered over 150,000 businesses across Africa with its innovative platform. Notably, 97% of these businesses have reported growth, profitability, or both after consistent use of the app for at least nine months.
Oze also provides entrepreneurs with training and mentorship opportunities. This ensures that users can access the tools and resources necessary to thrive in competitive markets and the knowledge to maximise their impact.
As a leader, Meghan McCormick is known for her strategic approach, focusing on understanding the needs of Oze’s users and continuously improving the platform to serve them better. Her mission is to build 100 million profitable businesses across Africa, reflecting her commitment to fostering widespread economic development on the continent. She combines technical expertise with a deep empathy for the challenges faced by African entrepreneurs.
By fostering financial inclusion and equipping SMEs with the right tools and resources to succeed, Meghan McCormick has contributed to job creation, poverty reduction, and economic development across Africa, making her a highly effective and successful leader.
