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ExpressCredit raises P103m for local microlending

Friday, November 19, 2021 | 2700 Views |

Local microlender, ExpressCredit has raised $9 million (P103 million) in funding to support its loan book growth and reach in the market, BusinessWeek has learnt.

ExpressCredit is among the country’s top 20 microlenders, whose combined assets were measured at P6.3 billion last year.

Local microlenders are not deposit takers and thus raise the funds they require for the lending activities through external financiers. ExpressCredit’s latest boost has come from a US-based alternative asset manager.

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ExpressCredit raises P103m for local microlending

Local microlender, ExpressCredit has raised $9 million (P103 million) in funding to support its loan book growth and reach in the market, BusinessWeek has learnt.

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Serowe man 'loses' P1m in trading

Inspect the voters' roll!