Bay­port pleased with Tan­za­nia op­er­a­tions

East African Business Week - - FINANCE - BY TI­MOTHY KITUNDU

NAIROBI, KENYA - Pru­dent use of loans granted by credit providers has had pos­i­tive eco­nomic im­pact by in­creas­ing fi­nan­cial in­clu­sion, Bay­port Fi­nan­cial Ser­vices Group Chief Ex­ec­u­tive Of­fi­cer said last week.

“Our fi­nan­cial in­clu­sion vi­sion has now ex­tended to 10 ad­di­tional coun­tries that in­clude Zam­bia, Uganda, Ghana, Tan­za­nia, Botswana, South Africa, Mozam­bique, Colom­bia and Mex­ico in which we have over 520,000 Bay­port cus­tomers,” Grant Kur­land, in charge of the group’s plat­forms in Africa and South Amer­ica said to mark Bay­port’s pres­ence in Tan­za­nia.

Bay­port dis­bursed loans worth over Tsh48 bil­lion (nearly $22 mil­lion) in 2015.

Kirk­land said the group’s op­er­a­tions had been given a shot in the arm by ma­jor fun­ders such as AB Kin­nevik, a Swedish in­vest­ment firm who in­jected over $40 mil­lio­nand the mi­cro-credit com­pany’s is­suance of its maiden bond in the in­ter­na­tional debt cap­i­tal mar­kets that had raised $100 mil­lion.

Re­cently John Mbaga, the Bay­port Tan­za­nia CEO said, “Our mis­sion is to pro­vide fi­nan­cial so­lu­tions suited to the needs of an in­clu­sive and broad cus­tomer base; em­brac­ing tech­nol­ogy, prod­ucts lead­er­ship and in­no­va­tion and so be­com­ing the lead­ing de­vel­op­ing mar­ket fi­nan­cial so­lu­tions provider.”

Bay­port Tan­za­nia is con­sid­ered one of the ‘Large Tax Pay­ers’ in the country. In 2015, it re­mit­ted over Tsh.7 bil­lion (nearly $500,000) to the Tan­za­nia Rev­enue Au­thor­ity. Bay­port Fi­nan­cial Ser­vices Tan­za­nia opened its doors in 2006.

Our fi­nan­cial in­clu­sion vi­sion has now ex­tended to 10 ad­di­tional coun­tries that in­clude Tan­za­nia

CREDIT: Kirk­land said the Group’s op­er­a­tions had been given a shot in the arm by Kin­nevik, a Swedish in­vest­ment firm.

Newspapers in English

Newspapers from Burundi

© PressReader. All rights reserved.