top of page
  • Press

4G Capital welcomes accreditation by London Stock Exchange Group (LSEG) & 2018 operational review

16th January 2019, London: This morning, at the London Stock Exchange, 4G Capital celebrated the launch of the Companies to Inspire Africa Report at a special event marked by the opening bell of the day’s trading.

Published by the London Stock Exchange Group, the Companies to Inspire Africa report is a showcase of leading private companies with the most inspiring stories and strongest growth potential. Within this pioneering report, 4G Capital is accredited as one of the most ambitious and dynamic fintech private companies in Africa.

To qualify, companies needed to be active and privately held, with headquarters in Africa, demonstrating growth over the past three years with annual revenues audited and accredited by a ‘Big Four’ firm or a local affiliate. The report was produced in partnership with African Development Bank Group, CDC Group, PWC and Asoko Insight who contributed their insight and expertise to select the featured companies.

4G Capital has supported the sustainable growth of micro-enterprises in Africa since 2013 by providing financial literacy training blended with working capital credit. Since its launch, 4G Capital has grown exponentially; revenue has consistently increased by over 100% year on year.

In 2018, operations went live in Uganda and Ghana as part of 4G Capital’s strategy to expand across the continent. By the end of the year the total number of branches had risen to 72 across Kenya and Uganda. In Kenya alone, over $21m was disbursed over the course of the year. Collection rates remain above the national average, at 94.08%. 4G Capital also received two positive credit ratings: ‘BB’ from MicroFinanza, and ‘BB+’ from the Global Credit Ratings Co.

4G Capital seeks to address the MSME finance gap in Africa which critically stands at $331bn according to the SME Finance Forum, an IFC organisation. MSMEs across Africa contribute to over 50% of combined GDP and more than 80% of employment. Recently, 4G Capital gained accreditation and received a “Responsible Digital Innovator of the Year” honorary award from the SME Finance Forum at its Annual Awards event held in Madrid.

Research into and the development of new fintech products continues. At the Africa 2018 Forum last month in Egypt, 4G Capital announced the launch of NxtGen: a seamless, easily integrated, turnkey technology that provides a credit solution designed specifically for the banking industry.

The Seed Funds (TSF) in Ghana is 4G Capital’s first banking customer to adopt NxtGen. Inspired by 4G Capital’s successful KUZA product, TSF seeks to support ‘last mile’ retail supply chain by providing working capital credit, blended with 4G Capital’s fintech platform to micro-retailers on behalf of large distributors and supply chain aggregators.

During 2018, partnership development increased momentum. Diageo and Procter & Gamble joined 4G Capital’s list of KUZA partners, helping micro-retail customers to run their businesses more sustainably. Technoserve also joined forces with 4G Capital and published findings that showed MSMEs who undertook business and financial literacy training as well as working capital credit, saw an 82% increase in revenue over a year period, thus proving the need to address not only the finance gap but the lack of financial literacy within this important business sector and contributor to GDP.

As a result of 4G Capital’s proven client centricity and positive social impact, the Centre for Financial Inclusion SMART Campaign recently announced the initiation of a partnership with 4G Capital to help define global standards for client protection across the digital financial services industry as part of its FintechProtects initiative.

During the year, 4G Capital also initiated an important social impact program in partnership with RefuSHE, delivering business training to young female refugees as part of RefuSHE's Girls’ Empowerment Project. By providing short and long-term support through RefuSHE, refugee girls gain better understanding of their human rights, experience economic success and skill development, and become leaders in their own communities.

Remarking on the year’s success and recognition, Wayne Hennessy-Barrett, CEO and Founder of 4G Capital said:

It has been another extraordinary year that has seen quantum growth to our value creation operations. The greatest accolade must go to our clients, who day in and out work for a better future for Africa. We are proud to stand with them to fight poverty through small business success.

- Wayne Hennessy-Barrett, CEO & Founder of 4G Capital

1 view0 comments


bottom of page