Proven Credit Approach

Bayport’s Proven Credit Approach Is Successful In Africa

Most financial services companies have viewed the immature African financial market with a sense of trepidation, then decided to pass it by.  Certainly, without a proven credit approach, how does one establish a viable unsecured credit model on the continent?  When Bayport Financial Services opened its doors in 2002, there was no proven credit approach to follow; we had to conceptualise an entirely new financial business model that would work in Africa.

In the beginning, our business model might not have been proven, but it was very well thought out and we have managed to mitigate our risks and at the same time establish reliable, responsible and affordable access to unsecured credit in Africa.  Our business model, which we call “The Bayport Way”, has met with such resounding success and overwhelming market acceptance, that we are now represented in five African countries, namely Ghana, Tanzania, Uganda, Zambia and South Africa.

Partnerships form a core component of our approach.  Partnerships with local stakeholders, trade unions and employers, whose members and employees we serve.  These partners also act as our collection arm, deducting loan repayment from employees’ wages and paying them to Bayport.  This approach has ensured that Bayport remains financially viable while offering affordable interest rates and keeping bad debt to very low levels.  We also counsel our clients in responsible borrowing and we make sure that they are aware of the affect their loan repayments will have on their finances and day-to-day lives.

Bayport Financial Solutions’ proven credit approach forged a new path back in 2002 and today we are still growing and offering our affordable financial products to thousands of Africans.  Contact us.