Bayport Botswana Co-founder Dies

Staff Writer | Monday July 27, 2015 15:00

Segomotso Masukula who perished in a car crash a day before the celebrations is praised as the co-founder of the multi-million company along with  the executive chairman Father Maphongo.  It was a bitter sweet moment for the company that was also celebrating the awarding of   the Global Campaign’s Smart certificate, the only micro-lender in Africa  to have been accredited with the certificate.

Father Maphongo relieved the early days with Masukula when they founded the company then known as Money Quest, with a half a million loan facility from CEDA as well as their personal savings,  back in 2005. Maphongo says their breakthrough started when they secured a deduction code. Maphongo says the value of the deduction code would later attract investors  Bay Port, giving birth to  a business partnership in 2010.

Maphongo  however says the early days  saw their company being rejected by all the banks in the country for funding, until a new entrant, Capital Bank took the lead to fund them.  Maphongo urged Pension funds, Asset Managers, and banks to invest in local enterprises.

“ If foreign investors can see something in a local small and start up business, surely you too can, if you look deep enough.” Maphongo also revealed that the American embassy in Botswana has facilitated loan with the American investment arm, adding that the   favourable credit facility will go a long way towards BayPort Botswana business.