kenya – Passive income

You can now invest in personal loans from GetBucks in Kenya and Zambia on Mintos p2p lending marketplace

By MPI8th March 20181 commentNews, Peer-to-Peer Lendingbuyback guarantee, GetBucks, kenya, Mintos, MyBucks, personal loans, Zambia

The investment opportunities from Africa on the Mintos marketplace have just doubled as GetBucks now offers you the chance to invest in personal loans from Kenya and Zambia, with yearly returns of up to 13%. In both countries, the company has special agreements that ensure loan repayments are deducted directly from the salary of the borrower.

GetBucks is part of the Frankfurt-listed fintech company, MyBucks. The loan originator joined Mintos in June 2017 and until now was offering investment opportunities in Poland and Botswana. Since joining the marketplace investors have invested more than EUR 4.9 million worth of GetBucks loans.

GetBucks Kenya (Emu Inya Enterprises Limited) exclusively lends to Kenyan civil servants, county employees and to employees of the Kenyan Teachers Service Commission. GetBucks Zambia provides loans for educational purposes and to employees of large national companies. In both countries, the company issues loans only based on special agreements that allow repayments to be deducted directly from the salary of the borrower. Because of this setup, personal loans issued by GetBucks from Kenya and Zambia have one of the lowest default rates on the market.

The average Kenya-issued personal loan on Mintos from GetBucks is EUR 800, with an average repayment period of 36 months. The average GetBucks Zambia-issued personal loan on Mintos is EUR 600, with a repayment period of 13 to 36 months. Investors can expect an annual return of up to 13% for GetBucks loans from both countries.

To keep its skin in the game, GetBucks will retain 5% of each loan placed on Mintos on its balance sheet. GetBucks ensures all loans from Kenya and Zambia that are delinquent for 60 days or more will be repurchased by the company. The obligations of GetBucks Kenya and GetBucks Zambia will be guaranteed by MyBucks Group.

Established in 1993, GetBucks Kenya has distributed more than EUR 14 million worth of loans since its inception. GetBucks Zambia started operating in 2014. Since then, more than EUR 23 million worth of loans has been given.

The Luxembourg-registered MyBucks Group was the first African fintech company to be listed on the Frankfurt Stock Exchange. In 2017, the company also successfully listed bonds on the Vienna, Botswana, and Zimbabwe stock exchanges to refinance existing debt facilities and to expand its loan book. The current market capitalisation of the company is in excess of EUR 170 million.

Kenya is one of the leading countries from Africa in the alternative lending industry. Economically, the country offers a youthful and growing population, dynamic private sector, highly skilled workforce, improved infrastructure and a new constitution. According to forecasts from The World Bank, GDP growth is expected to rebound to 5.8% in 2018 and 6.1% in 2019 respectively.

Zambia has one of the world’s fastest growing populations, with the United Nations projecting that the country’s population will triple by 2050. GDP is also set to improve, according to the World Bank, growth is forecast to strengthen to 4.5% in 2018 and 4.7% in 2019.

GetBucks joins Viventor peer-to-peer lending marketplace

By MPI31st January 2018News, Peer-to-Peer Lendingbuyback guarantee, consumer loans, GetBucks, kenya, MyBucks, peer-to-peer lending, Viventor

MyBucks, a leading FinTech company that operates a range of financial products and services across 13 countries worldwide joins Viventor peer-to-peer lending marketplace. The company will list the loans originated in Kenya under GetBucks brand.

Founded in 2011, MyBucks has established itself as a scene-setting market pioneer when it comes to modern financial services. Operating 4 banks and 9 microfinance institutions that offer loan, banking and insurance products, the company has issued almost EUR 400 million worth of loans.

In June 2016, MyBucks was listed on the Frankfurt Stock Exchange (FRA:MBC). Registered in Luxembourg, the company is of African origin with active operations in 11 countries across the continent. The company is also present in Poland and Australia.

“Our company’s vision is to embrace technology as a mean to provide better financial solutions to people all over the world. Getting listed on Frankfurt stock exchange was a major step towards showing our ambition indeed lies beyond just Africa. Partnering with Viventor, another ambitious FinTech company that seeks to provide better financial services through technology is not only another step forward for us, but also a collaboration that simply makes sense.”

Tim Nuy, Deputy CEO of MyBucks

GetBucks loans on Viventor

500-50000 EUR in size
12 months-48 months in duration
10%-12% projected annual return
60 day Buyback guarantee

The company will initially list its consumer loans from Kenya issued to local business owners. All loans are backed by a third party guarantor and have a collateral in place. In addition to the attractive yield, terms and Buyback Guarantee, all the loans will be listed in Euros. On top of that, GetBucks will maintain 5% skin in the game stake in every single loan.

You can now invest in loans issued in Kenya by Watu Credit on Mintos p2p lending marketplace

By MPI30th January 2018News, Peer-to-Peer Lendingkenya, Mintos, peer-to-peer lending, personal loans, Watu Credit

Kenya has just been added to the list of countries on Mintos! This is the second country from Africa and the 18th to be represented on the Mintos marketplace. Thanks to Watu Credit, you now have the opportunity to invest in Kenya-issued personal loans and reap returns of up to 13% per year.

Established in 2015, Watu Credit offers asset financing and business loans for small businesses. Headquartered in Mombasa the company is currently expanding with branches already opened in Nairobi, Malindi, Nakuru and Mombasa region.

“Watu Credit is pleased to join the diverse family of loan originators on Mintos. With a population of 48 million and sustained economic growth, Kenya offers a dynamic crediting environment. Watu Credit prides itself on having established in a short period an expedient, efficient and customer oriented product for previously under-serviced customer segments thanks to a dedicated team and proprietary IT solutions. Our partnership with Mintos will ensure Watu Credit’s growth into other Kenyan regions,” says Andris Kaneps, CEO of Watu Credit.

Kenya-issued loans placed on Mintos by Watu Credit are personal loans offered to individuals wishing to purchase motorbikes and three-wheelers (tuk-tuks) for their business. Loans range from EUR 800 to EUR 1 600. The average repayment period is 14 months with a weekly repayment schedule. Investors can expect a yearly return of up to 13%. All loans placed on the marketplace by Watu Credit are secured by the vehicles purchased with the loan.

To keep its skin in the game, Watu will retain 15% of each loan placed on Mintos on its balance sheet. The company offers a buyback guarantee for all loans that are delinquent for more than 60 days. Historically, Watu Credit has a delinquency rate of 7%.

Watu Credit currently has 68 employees, and since its inception has gained 7 750 active clients. As of the third quarter of 2017, Watu Credit had an outstanding loan portfolio of around EUR 1.6 million and had issued more than EUR 5 million worth of loans.