FinTech credit provider 4G Capital, a company that supports individuals and businesses across Africa, has announced operational and services updates on its operations across Kenya and Uganda and has also shared its approach towards safeguarding its clients, employees and services amid the COVID-19 outbreak.
According to FSD Kenya and Kenya Revenue Authority, app. 95% of the country’s businesses and entrepreneurs operate within the informal sector with only 24% having a business bank account. 4G capital stated that the company is committed to its clients and is supporting government policies to thrive in this challenging period. It has adjusted processes to ensure business continuity and the safety of clients and employees. The company has also assured that its local branches throughout Kenya and Uganda will remain open while government policies allow, however certain changes to minimize social interactions has been put forth.
Existing clients can access 4G Capital’s services over its mobile technology platform, while new clients are advised to contact the customer service centre by email. The FinTech has also announced that until further notice it has postponed all non-priority projects and is also deferring all non-essential operating expenses to maintain efficiency and liquidity.
“We have a clear mission to not only drive growth across the informal economy but to protect it. Our investors, management and employees are committed to the wellbeing, safety and success of our clients. We stand proudly with those who continue to serve in times of greatest need and pray for those who find they cannot,” said Wayne Hennessy-Barrett, CEO and Founder of 4G Capital
For the past four years, the company has been working to remove the barriers that inhibit financial inclusion and is trying to unlock the potential of East Africa’s micro and small businesses by providing working capital credit combined with financial literacy and business enterprise training. The company is also working with industry leaders to provide basic facilities required to combat the pandemic.
Founded in 2013, 4G capital serves East African micro-enterprises by providing financial literacy and enterprise training combined with working capital credit to help small businesses. It makes use of machine learning technology to deliver high fidelity insight into customer risk and affordability. The company is also planning to scale beyond the continent with its expanded suite of products and services.