Table of contents

Kenya
Emu Inya Enterprises Ltd
Employees
96
GetBucks
Short term loans
Instalment loans
Acquired
May
2012
The outlook for Kenya is stable. The country has a
comparatively well established banking and finance sector,
and there is a significant demand for credit.
In general, clients are price-sensitive. Banks are the
dominant client loan providers, whilst MFIs mainly provide
loan products in order to make a social impact.
Credit information in this market, obtained from credit
bureaus or other information sources, is limited. In our
opinion, debit orders or automated collection mechanisms
are still not reliable.
Notably, telecommunications providers have expanded into
the mobile banking market and platforms like M-PESA have
assisted lenders in disbursing loans and collecting loan
instalments.
Opportunity Kenya Limited was acquired 1 July 2016.
Malawi
GetBucks Limited
Employees
23
GetBucks
Short term loans
Instalment loans
Founded
July
2012
Malawi does not have a credit bureau infrastructure. With
the lack of such infrastructure consumer credit lenders
need to primarily focus on the government sector with
the possibility to implement deduction at source scheme.
We experienced a stable credit demand, which is based
on the number of applications we received over the past
twelve months.
The lack of credit bureaus operating in the country has
forced providers of microfinance products to obtain credit
data on their own and through their credit applications
process.
Mozambique
Opportunity Bank powered by MyBucks
Employees
250
GetBucks
Loans
Acquired
July
2016
The results of the FinScope Consumer Survey Mozambique
2014 suggest that the economic situation in rural areas is
likely to have improved since 2009 but that the urban/ rural
gap remains unacceptably high.
Overall the survey showed that the informal sector is the
main source of income with farming as the main source
of income for most Mozambicans. Accessibility to banking
infrastructure is still a barrier in the rural areas where 70%
of adults live. Mozambicans are more likely to save (35%)
than borrow (10%). Although mobile money is an effective
platform with the potential to reach a large number of adult
Mozambicans, the adoption rate is low (3%). This is mainly
due to lack of awareness (79%).
Consumer education and financial literacy are also
issues, which require emphasis at both a policy and basic
education level.
Namibia
GetBucks Namibia (Pty) Ltd
Employees
1
GetBucks
Short term loans
Founded
July
2014
According to the third quarter 2015 financial report of
the Namibian Financial Institutions Supervisory Authority
(NAMFISA) the total amount of new loans disbursed by
micro lenders country-wide rose from N$578 million
(second quarter 2015) to N$709 million in third quarter
2015. Similarly, year-on-year, the amount of new loans rose
at a rate of 10.6% from N$641million to N$709 million.
The increase both on a quarterly and annual basis is
mainly attributed to the transactions of lenders granting a
loan for a specific amount that has a specified repayment
schedule and a floating interest rate. Over the same period,
loan disbursements of smaller, so called payday lenders,
who further, over the same period, loan disbursements of
‘Payday Lenders’ fell by 1.0 percent and rose albeit by a low
rate of 8.4 percent, respectively to N$1841 million.
Since 2016 we are among the few credit providers in the
country offering access to credit via online channels, such
as the Internet and mobile.
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MyBucks Annual Report 2016 24
25 MyBucks Annual Report 2016