Milango‘s OLB currently stands at 86,758.22 Euros, and it continue to grow with more loans uploaded every week. MYC4 is currently working with Milango so that they can top up the risk guarantee to enable them upload more. If the current trend of uploads continues, then Milango’s pilot review may be done sooner than the six months pilot period. The month of April saw MYC4 disburse 59,216 Euros to Milango, which is a good growth sign.
YEHU continues to grow, a growth most welcome by MYC4 as it starts its focus on Kenyan providers. Also, YEHU portfolio is only 14% of MYC4’s total portfolio, hence there is more room for growth. YEHU’s current OLB is 303,901.63 Euros, and 21,541 Euros was disbursed in the month of April.
SISDO – MYC4 and SISDO have amicably decided to end the relationship. SISDO had been having challenges with the MYC4 model; and have furthermore have recently attracted a size-able amount of funding on fixed term from other funders in the region. SISDO will continue with weekly repayments to run down the portfolio.
As you are aware, MYC4 is closing shop in Tanzania, MYC4 therefore after consulting came up with a repayment strategy for its providers in Tanzania. These providers are to pay directly to the MYC4 foundation account, first, they have to negotiation for a good exchange rate from their prospective banks. The amount is thereafter processed in the MYC4 system and hence investors get their repayments. The providers have agreed to transfer the repayments twice every month so as to minimize on the transfer cost incurred. So far all the providers in Tanzania are trying their best to negotiate for the best rates from their banks and to also transfer the amounts without delay and some have succeeded and MYC4 hopes that the rest perfect the process as they become more familiar to it.