Bayport lauded for responsible lending

Father Maphongo
Father Maphongo

Local micro-lending firm, Bayport Financial Services, has received international recognition for responsible lending with the award of a “Smart Campaign” certification.

The Smart Campaign certification is an independent global endorsement that provides an “objective seal of confidence that a financial institution is doing everything it can to treat its clients well and protect them from harm.” The initiative has guided world leading microfinance institutions.

Addressing journalists on Friday, Bayport Executive Chairman Father Maphongo said the smart campaign certification is an achievement for the country, adding that the company could not have achieved it without the regulatory framework the government has put in place.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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