International Finance

Kenyan fintech 4G Capital to increase lending to SME’s

The number of loans to be lent by the fintech in 2019 will be 420,000 which is worth $46 million

Kenya based fintech startup 4G Capital plans to increase the lending of loans to small to medium enterprises (SME’s). The Kenyan fintech startup 4G Capital has been witnessing a steady growth since its inception in 2013 until now.

4G Capital mixes customer oversight and training for achieving a 94 percent return rate on unsecured loans provided to SME’s. With the new decision, the company will be lending more in 2019 than all the previous years added together.

The number of loans given by 4G Capital since its inception until the end of 2018 are estimated to be at least 345,000 that accounts for a total of about $44 million.

The year 2019 will see the firm disbursing 420,000 loans that will be worth $46 million. The total value of loans disbursed will then add up to $90 million.

CEO and founder of 4G Capital, Wayne Hennessy Barrett, stated that the success of the firm is due to the increased investments in partnerships and the expansion of the firm’s presence across East Africa. He added that the company increased the number of teams in Uganda and Kenya from 28 to 96 and has also increased customer acquisition in the East African region.

The introduction of mobile money M-Pesa in 2007 led to a boom in the fintech sector in Kenya, with over 150 fintech startups operating there presently.

Earlier in 2019, 4G Capital had expanded its services to Uganda to make it available to all types of enterprises in the country. 4G Capital Kenya is targeting to impact one million people by 2020, as a part of its expansion.

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