Fintech credit provider 4G Capital, a firm that supports individuals and companies across Africa, has introduced operational and services updates for its business operations across Kenya and Uganda.
The company has also shared how it is dealing with the deadly coronavirus (COVID-19) outbreak.
FSD (Financial Sector Deepening) Kenya and the Kenya Revenue Authority revealed that about 95% of the nation’s businesses and entrepreneurs are currently operating within the informal economy.
Only around 24% of these companies have a business bank account. 4G capital noted that the firm remains committed to its customers and is supporting the relevant government guidelines, in order to survive during these challenging times.
The firm has adjusted how it conducts its operations in order to ensure business continuity and the safety of both its customers and workers. 4G Capital has also assured its clients that its physical branches will continue to stay open as long as the government allows it. However, the Fintech has introduced several changes in an attempt to reduce social interactions.
The company’s existing customers may access its financial services through its mobile platform. New clients have been told to contact the firm’s customer service center via email. The Fintech firm has also confirmed that, until further notice, it has delayed all non-priority or non-essential initiatives. It’s also going to be deferring all non-critical operating expenses, in order to maintain sufficient liquidity during these difficult and unpredictable times.
Wayne Hennessy-Barrett, CEO and founder at 4G Capital, stated:
“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.”
During the past few years, 4G Capital has been trying to eliminate barriers that prevent financial inclusion. The Fintech is trying to tap the potential of micro and small businesses by offering much-needed working capital credit. It is also offering financial literacy and business enterprise training.
Founded in 2013, 4G Capital aims to serve micro-enterprises by offering financial literacy and enterprise training. It also provides financing to help small businesses.
The company leverages machine learning (ML) technology to deliver key market insights.