Table of contents

Zimbabwe
GetBucks Financial Services
(Private) (Ltd)
Employees
63
GetBucks
Instalment loans
Founded
January
2012
Savings accounts
Client credit in Zimbabwe is in high demand due to the
current liquidity issues facing banks and other consumer
credit providers.
At end of March 2016, the number of registered MFIs
amounted to 162 and the Reserve Bank had issued three
deposit taking MFI licences the year prior.
The bulk of current client credit is granted to formally
employed government employees.
We have experienced that solid lending regulation has
kept a lid on over-indebtedness and has not suppressed
demand for credit.
We also believe that providing credit, not only to
government employees but also to other formally
employed customers, is set to grow. Since the introduction
of the US$ as operational currency in 2012 the client credit
market has stabilised.
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Europe
MyBucks expanded client lending to Spain in 2014 and
to Poland in 2015. Both countries have well-developed
banking systems as well as high Internet and mobile
phone penetration rates. Online channels and electronic
contracting are governed in these countries, which has
benefited us, as minimal infrastructure needs to be
deployed.
The existence of competitors such as Wonga, Kreditech and
4 Finance in these markets has also been to our advantage,
as the markets are already educated and awareness is ripe
on credit products and channels.
We aim to grow our market share in this region through
value added services and products that our competitors do
not offer.
Poland
GetBucks Poland S.P Z o.o
Employees
4
GetBucks
Short term loans
Founded
February
2015
In Poland, the financial supervision authority does not
require companies rendering loans from their own funds to
retain a banking licence. Moreover, they are not obliged to
publish information other than what is required by law, and
it is not a requirement to publish statistics on the number
or the value of loans.
In addition, only some of the companies operating in the
market are members of industry organisations; other
companies provide their services on a local scale and do
not take part in such initiatives. As a result, it is impossible
to obtain full information on the size of the market.
According to a PWC Poland study, personal credit
companies account for a fraction of the total borrowing
market both in terms of value and number. The average
client loan has a maturity of one to 10 weeks, and provides
for a loan volume ranging from PLN50 to PLN25,000.
However, the average amount of the loan does not exceed
PLN1,000.
Spain
GetBucks Spain S.L
Employees
4
GetBucks
Short term loans
Acquired
July
2014
In Spain, most of the large banks are reverting back to
their existing client base when providing client loans. Their
rationale is that they can better analyse the credit default
probability of clients already served in the past.
The preference at present is to rather serve existing clients
with a prime creditworthiness than to acquire new clients
not known to the banks.
We anticipate that this scenario leaves room for smaller
lenders - who are competing aggressively on price - to
increase their share of this subdued personal credit
market.
Notably, an analysis of Data Monitor’s 2012 Financial
Services Consumer Insight Survey shows that price is the
single most important criteria for clients when applying for
a client loan. Low interest rates are vital to attract clients.
A more competitive market situation is thus realised when
small client lending companies seek to increase their
market share by reducing their interest rates.
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MyBucks Annual Report 2016 28
29 MyBucks Annual Report 2016