In the summer of 2010, I started a journey and a challenge that I believed in and one that I still strongly do. I have always believed in financial depending (financial access in excluded markets) but the notion of using innovative online technology to make growth capital accessible in deserving markets in Africa was something that fascinated me. Joining MYC4 was therefore an easy decision for me. I joined at a time when there were a few challenges associated with a young ambitious organization but which were surmountable. With the support of the CEO and the board, we worked hard through the initial bumpy ride, but when positive results started trickling in, we got more encouragement to work harder. We soon put the challenges behind us and focused our energies on growing a solid business model with the primary purpose of making it sustainable and touch the lives deserving entrepreneurs. We have succeeded in many ways. The portfolio at risk has consistently been brought under control through various risk management strategies and the outstanding loan balance grew. The number of clients served has also consistently grown and many lives transformed. Through the online platform, MFIs that would have had no funds to on-lend to their clients found a home and a partner in MYC4. Some even outgrew us.
Four years after I took the ride, I can only be proud of what we have achieved as a team. A small dedicated team of young professionals who are eager to do well. We have proved that the business model works and touches lives. We now need to do more but in a more efficient manner. And that’s the reason why MYC4 (EA) Limited was formed in June 2013. The decision to leave active management and take an active role in the board of MYC4 (EA) Ltd was informed by the fact that I can now contribute more in that capacity as we strive to make MYC4 more efficient and sustainable. I will therefore remain part of MYC4 Family contributing significantly to business development. My immediate plans are to continue working with the bottom of the pyramid by designing financial solutions in the area of clean energy. This is an area that MYC4 can plug in and contribute through value chain projects.
I take this opportunity to wish MYC4 well and look forward to contributing in my new capacity.