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Investment opportunities are now available in USD on Mintos p2p lending marketplace

By MPI10th April 2018News, Peer-to-Peer LendingBotswana, GetBucks, investment, Martins Sulte, Mintos, peer-to-peer lending, Short-term loans, Tim Nuy, US Dollar, USD

You can now invest in 11 currencies on Mintos as loans listed in the US Dollar (USD) are now available on the marketplace. This is thanks to GetBucks, which now also lists its Botswana-issued consumer loans in the USD, in addition to Euro (EUR).

“We enjoy offering investors the ability to diversify their portfolio, whilst at the same time ensuring our funding matches some of our external exposures. The addition of the USD to Mintos is a great way to achieve diversification for all parties,” says Tim Nuy, CEO of MyBucks.

GetBucks loans listed in USD will be the same as all Botswana-issued consumer loans on Mintos from the company. These loans are issued by three subsidiaries of the company, Cashcorp (Proprietary) Limited, GetBucks Botswana and TU Employee Benefits (Proprietary) Ltd (TU). On Mintos, Cashcorp offers investors short-term loans, whereas GetBucks Botswana and TU place their long-term personal loans for investment on the marketplace.

The average short-term Botswana-issued loan from GetBucks is USD 300, with a repayment period of 30 days. You can expect an average net annual return of up to 11%.

Botswana-issued long-term loans from GetBucks range from around USD 100 to USD 50 000 and the repayment period is from 6 to 36 months. The expected annual net return is up to 13%.

“The addition of the USD to our marketplace is a great achievement. One of our aims at Mintos is to give our investors many opportunities to achieve their investment goals. Now, investors have the opportunity to invest in 11 currencies on the marketplace- and this will only continue to grow. We hope investors will enjoy investing in loans listed in USD, which is the most commonly traded currency in the world,” says Martins Sulte, CEO and Co-founder of Mintos.

GetBucks offers a large range of products on Mintos, including consumer loans in Botswana, Poland and recently added investment opportunities in Kenya and Zambia. The company now offers loans for investment on Mintos in three currencies – EUR, Polish zloty and USD.

ExpressCredit from Botswana joins the Mintos p2p lending marketplace

By MPI6th March 2018News, Peer-to-Peer LendingBotswana, buyback guarantee, consumer lending, ExpressCredit, Mintos, personal loans

A new loan originator from Botswana has just joined the Mintos marketplace. Now you can invest in Botswana-issued personal loans by ExpressCredit and enjoy returns of up to 14%.

ExpressCredit is an innovative consumer lending company which endeavours to give its clients a personal approach through its four branches in Botswana, with more branches to be opened in 2018. Established in 2015, ExpressCredit (Proprietary) Ltd. was licensed in January 2017 by the local Botswana regulatory body, Non-Bank Financial Institutions Regulatory Authority.

ExpressCredit primarily distributes its loans to employees of the Botswana Primary Teachers Union. The company has a special agreement with the union, so all repayments are debited directly from the borrower’s salary. Due to this repayment set up, the expected default rate for ExpressCredit loans is less than 5%.

“ExpressCredit is pleased to join one of the best marketplaces for loans in the world. With a population of two million and a stable economy, Botswana offers a strong, low risk crediting environment. Our partnership with Mintos and continuous investments in technology, branch network and people will ensure our growth in the market achieving our strategic goal to become one of the top micro-financing companies in Botswana,” says Dineo Saleshando, CEO of ExpressCredit.

The average Botswana-issued personal loan from ExpressCredit is around EUR 2 000. The average repayment period is five years and borrowers repay the loan in monthly instalments.

Initially, ExpressCredit will offer the opportunity to invest in loans issued to salaried government employees only. In the future, ExpressCredit also plans to offer you the opportunity to invest in other types of loans from Botswana as well, such as shorter-term consumer loans, open market loans and pensioner loans already being issued by the company.

All loans from ExpressCredit on Mintos are secured with a buyback guarantee and will be bought back by the company if they become delinquent for more than 60 days. In addition, the company will maintain 15% of each loan placed on the marketplace on its balance sheet.

As of January 2018, ExpressCredit had a total loan book size of more than EUR 3.3 million. The company has more than doubled its revenue from the third quarter to the fourth quarter of 2017. The company is continually looking at opportunities for innovation and increasing its ability to cater for all of its customer’s needs.

As ExpressCredit’s target market is largely government employees who receive a regular salary, the branches are strategically located in key demographic areas to cover the majority of government employees across Botswana. The company has established a large direct sales agent network with more than 140 employees, which allows it to offer a personal approach when distributing loans. It also ensures the experience for customers is efficient and allows the company to demonstrate strong Know Your Customer (KYC) standards.

Borrowers take out a loan from ExpressCredit for a variety of reasons, including the purchase of land, cars and buildings and also for housing renovation.

GetBucks offers new investment opportunities from Botswana on Mintos P2P lending marketplace

By MPI13th December 2017News, Peer-to-Peer LendingBotswana, buyback guarantee, GetBucks, long term, Mintos, personal loans

Thanks to GetBucks the Mintos marketplace now has even more investment opportunities in Botswana. In addition to short-term loans, investors can now also invest in longer-term personal loans issued by GetBucks in Botswana.

Personal loans issued by GetBucks in Botswana have one of the lowest default rates on the market. This is due to special agreements which allow for monthly payments to be deducted from the borrower’s salary.

GetBucks personal loans in Botswana are issued by two GetBucks subsidiaries, GetBucks Botswana and TU Employee Benefits (Proprietary) Ltd. Both subsidiaries have special agreements with workers unions – GetBucks Botswana has an agreement with the Botswana Government Workers Union, while TU has an agreement with the Botswana Teachers Union.

Borrowers of both subsidiaries are mostly taking out loans for either personal consumption, or to pay for education. Larger loans are used for home and farm renovations or to purchase cattle.

Botswana-issued GetBucks loans, ranging from around EUR 82 to EUR 40 740 are now available for investment on Mintos. The repayment period is from 6 to 36 months. The expected annual net return for investors is 11-13%.

For loans that are delinquent for more than 60 days, GetBucks will provide a buyback guarantee. To maintain its skin in the game, the company will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet. The obligations of GetBucks Botswana and TU will be guaranteed by the MyBucks Group.

Established in 2011, GetBucks is part of the Frankfurt-listed fintech company MyBucks. The Group operates in 12 countries across three continents – Africa, Europe and Australia. The company offers customers unsecured consumer loans, banking solutions and insurance products through its different brands.

TU was founded in 2012 and has granted EUR 27 million worth of loans. GetBucks Botswana was established in 2012 and has provided EUR 8 million worth of loans. GetBucks has three subsidiaries in Botswana – Cashcorp, GetBucks Botswana and TU. Together, they have funded EUR 35.3 million worth of loans.

The revenue for MyBucks has been growing at a rapid pace over the past four years, reaching EUR 62.2 million by the end of their fiscal year in June 2017. In the past year, the group’s operating profit has grown over 30% to EUR 14.5 million.

GetBucks joined the Mintos marketplace in June 2017, initially offering short-term personal loans for investment issued in Poland. The company began offering loans from Botswana in August 2017. GetBucks has funded loans worth EUR 2 million through Mintos.

Loans issued in Africa now available on the Mintos marketplace

By MPI21st August 2017News, Peer-to-Peer LendingAfrica, Botswana, GetBucks, Mintos, MyBucks, peer-to-peer lending, Short-term loans

GetBucks has started placing short-term personal loans issued online in Botswana on the Mintos marketplace. With this move, GetBucks is the first loan originator on the Mintos marketplace to offer an opportunity to invest in loans issued in one of the fastest growing regions of the world — Africa.

GetBucks, part of Frankfurt-listed fintech company MyBucks, joined the Mintos marketplace in June 2017, offering investors the opportunity to invest in short-term personal loans issued in Poland. So far, the company has funded loans worth more than EUR 400 000 through Mintos.

Tim Nuy, Deputy CEO of MyBucks, says: “We initially approached Mintos as a practical and flexible solution to our funding needs in Europe. So far, the Mintos platform has given us great results, with excellent investor demand.”

“The outcome was so good, we thought it would be great if we could find similar solutions for our successful African operations,” says Nuy. “Some African markets are not too different from many Eastern European countries. Botswana, for example, has a very stable economy with a GDP per capita of over USD 16 000. Loan impairments there are much lower than in most Eastern European markets.”

“We are glad to partner with Mintos in this initiative to allow European investors to participate in the African consumer finance business. We are confident that it will be as successful as it has been in Poland.”

The average Botswana-issued loan GetBucks will place on the Mintos marketplace is EUR 250, with a repayment period of 30 days. The average annual net return to investors will reach 11%.

GetBucks will provide a buyback guarantee for loans that are delinquent for more than 60 days, and will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet. Obligations of GetBucks Botswana will be guaranteed by MyBucks Group.

The subsidiary GetBucks acquired in Botswana was established in 1998 and provides short-term unsecured loans. The company has already disbursed more than 120 000 loans worth more than EUR 19 million, most of them for consumption and education.

MyBucks Group has experienced exponential growth since its inception in 2011. Through its different brands, the company offers customers unsecured consumer loans, banking solutions and insurance products.

MyBucks Group operates in 12 countries across three continents – Africa, Europe and Australia. The company currently has four banking licenses and employs over 1 000 people. It has disbursed more than 1 million loans since inception. MyBucks now has a loan portfolio of almost EUR 100 million; it had a record year in 2016 when the company disbursed EUR 124 million in loans.

The Luxembourg-registered MyBucks group is the first African fintech company to be listed on the Frankfurt Stock Exchange. It is also the first fintech company in Africa to provide savings products. In 2017, the company successfully listed bonds on the Vienna, Botswana and Zimbabwe stock exchange. It now has plans to list bonds in several other jurisdictions.

Over the last four years, MyBucks group’s revenues have grown fivefold to reach EUR 66.3 million, as of the end of June 2017. The company’s operating profit has grown over 30% in the past year to EUR 15.6 million.

GetBucks has developed unique credit-scoring technology with self-learning algorithms that allow the company to keep a default rate below 8%. The company distributes its product portfolio through digital channels and internet service points, which has allowed it to scale rapidly while also managing its credit risk effectively.

If you would like to invest in loans issued by GetBucks and use Auto Invest on the Mintos marketplace, be sure to adjust your settings accordingly and add GetBucks to your Auto Invest loan originators’ list!