Kenyan fintech startup 4G Capital has opened offices in Kampala to make its financial services solutions available to micro, small and medium sized enterprises (MSMEs) across Uganda.
Launched in 2013, 4G Capital provides financial literacy training with working capital loans to help small businesses grow sustainably. Its customers receive a bespoke programme of business training to help them use micro-loans, with training delivered via mobile apps and face-to-face outreach.
The company, which in Kenya has consistently achieved high collections rates without collateral or refinancing its clients by only lending to viable businesses on terms that are right-sized for them, already serves customers in Uganda and Ghana as well and has now physically launched in the former to further build its presence. 4G Capital is expanding across the continent and on target to positively impact over one million people by 2020.
4G Capital has commenced operations in Kalerwe and Nakawa markets in Kampala, bringing financial inclusion services to traders and small businesses. The company will be expanding its operations across Uganda and is hiring staff now.
It is also partnering with Uganda-based multinationals and distributors, to help boost and sustainably strengthen the FMCG supply chain. By providing short term credit to retailers, 4G Capital’s B2B product offering KUZA aims to unlock potential and increases retail purchasing power.
The company recently secured funding from FSD Uganda to conduct important research and support its rollout across the country. The joint research will provide valuable disaggregated insights on the finance gap nationwide that will ensure 4G Capital continues to tailor its solution to support those most in need.