The first 6 1/2 years of operation have resulted in 18,200 loans to Africa’s micro- and small businesses, who have borrowed 22.8m euro (over 30m USD) from 20,500 crowdfunders from over 120 countries – we thank you all for having made this possible.
We have been working on our strategy of how to add value to Africa’s micro- and small business and the sectors supporting them and at the same time to become a sustainable and profitable platform with the resources at our hand.
The road we have chosen is that MYC4 will focus 100% on Kenya as from 1st July 2014; – Its our plan to establish a network of good provider MFIs with a nationwide footprint in Kenya and to have MYC4 represented in minimum 20 counties in 12 months from today. New Products like Wholesale loans for MFIs is on our roadmap and we plan to do a pilot during 2nd half 2014 for a loan on 250,000€ to gain experience and develop the product for future growth. Its our strategy to reach 10,000 micro-and small businesses in 2015 and hold an active portfolio of +4m euro by end 2015 (double of today) – we will then be ready to roll out MYC4 in East Africa again.
Our strategy will though not cover for Tanzania and Uganda in the foreseeable future. We would like to thank all of our MFI partners for the business- and personal relations we have had over the last many year. We wish all of our MFI partners the best growing their business to support the micro- and small businesses in your markets. They need you.
As Kenya will be 100% of our focus from 1st July, loans can be uploaded from Uganda during the coming two months whereas we have discontinued loans from Tanzania since end March as our cash management partner is not able to support us. Our partners in Uganda and Tanzania will collect on all outstanding loans and disburse to the investors until loans have been repaid fully.
CEO and Co-Founder