The client is a digital credit provider (DCP) offering micro-loans to individuals in Kenya, Uganda, and Tanzania. This case study explores the company’s journey, focusing on its customer base, mobile app, loan services, financial recovery efforts, and industry affiliation.
sign-ups, demonstrating strong market demand.
Currently, the company has a customer base of roughly 5,000 customers.
The company was founded with the vision to provide accessible financial services to underserved populations in East Africa.
By leveraging mobile technology, the company aims to bridge the gap between traditional banking systems and individuals lacking formal access to financial services.
For Back Office: Cake PHP in the backend
For Mobile App: Android in the UI and Node JS in the API
We have got this client to make it operable in Tanzania, Kenya and Uganda. We had to integrate the mobile money provider APIs, for loan disbursement and loan collection, working in African countries as a part of our development task. For example, we have integrated Tigo Pesa Mobile Money Provider APIs for Tanzania. We have automated the entire loan disbursement and loan collection process with the operation management portal as their Back Office. Moreover, we have introduced USSD integration for users to get loan details in Uganda.
The company has successfully completed a total of 164,520 loans, indicating the significant demand for their financial products across Kenya, Uganda, and Tanzania.
The ability to complete such a large number of loans demonstrates the company’s operational efficiency and effective risk assessment mechanisms. Additionally, achieved substantial loan recoveries of over 90%.
This highlights the company’s commitment to responsible lending and the implementation of robust collection strategies.
Difficulties We Got: At the beginning in Tanzania due to not having user verification options many users have taken the starter loans and became defaulters.
Strategy to Overcome it: We introduced the credit score along with the User ID and Bank Statement verification feature. User can only get the starter loan after a minimum credit score can be earned by successfully entering the basic contact details, bank details etc,
Membership in the Digital Financial Services Association of Kenya underscores company’s commitment to promoting financial inclusion and operating within regulatory frameworks.
By aligning with industry associations, the client actively contributes to the development of best practices and ethical standards in the digital financial services sector.
Client’s presence in Kenya, Uganda, and Tanzania has significantly expanded access to financial services, especially for individuals who were previously excluded from traditional banking systems.
By leveraging mobile technology and offering loans through their user-friendly app, the product has empowered customers to overcome financial barriers, promote entrepreneurship, and improve their overall economic well-being. The company’s positive financial performance and growing customer base position it for continued growth and increased impact in the future.
This Group has emerged as a reputable digital financial services provider, operating in Kenya, Uganda, and Tanzania. Through its innovative mobile app, successful loan completion track record, responsible lending practices, and industry affiliation, The company has demonstrated its commitment to financial inclusion and improved access to financial services in East Africa. Product will be launched in India and start its operation in the microfinance sector.
As the company continues to evolve and expand, its positive impact on individuals and communities is poised to grow, further contributing to the development of inclusive financial ecosystems in the region.
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