NAIROBI, Kenya, October 26 – Financial technology credit provider, 4G Capital has been feted by the International Finance Corporation (IFC) and SME finance forum for innovations in small business lending.
The firm which is based in Kenya and Uganda was specifically recognized for its innovation and efficiency, excellent repayment rates (without the need for refinancing), and contribution to financial literacy across its client base of MSMEs.
It received the SILVER award as “SME Financier of the Year – Africa” with “distinction serving International Development Association (IDA) countries and fragile and conflict-affected situations” at the 2021 Global SME Finance Forum Awards.
The company was also commended for its risk management and ‘touch tech approach, blending face-to-face client relationship management with unique digital tools.
Wayne Hennessy-Barrett, CEO and Founder of 4G Capital, while commenting on the award, reaffirmed the firm’s commitment to growing businesses with capital and knowledge.
“Micro SME growth is key to rebuilding global prosperity and democratizing wealth creation, we dedicate this award to our amazing clients and their communities in Kenya and Uganda,” he said.
Matthew Gamser, CEO of the SME Finance Forum, on his part said that the 2021 competition brought bigger innovations, achievements, and potential.
“Every year we see great innovations, we see new opportunities for redressing past imbalances due to gender, age, and other inequities, and we see new ways to put the customer first and ensure that financing is responsible and truly beneficial,” he said.
The Global SME Finance Awards which was established by G20 and managed by IFC celebrates outstanding achievements of financial institutions and fintech companies delivering exceptional products and services to their SME clients to promote growth.
“Building more resilient SMEs is critical to the world’s economic recovery,” Paulo de Bolle, Global Senior Director of the Financial Institutions Group at IFC said.