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Japanese microlender raises $26m to expand Indian operations

Gojo plans to make inroads into Africa and digitize lending

An open-air market in Ahmedabad, India. Microloans can be a vital source of capital for low-income earnings to start their own business.   © Reuters

TOKYO -- Japanese microlender Gojo & Co. has raised 2.72 billion yen ($26 million) in fresh capital with plans to increase loans in India and branch out into Africa.

Tokyo-based Gojo issued new shares to investors including Dai-ichi Life Insurance and Ricoh Leasing, with the total amount raised this year reaching 7 billion yen.

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