Financial Solutions

Bayport Offers Financial Solutions In Africa

Bayport Financial Services offers innovative financial solutions and unsecured credit in South Africa, Ghana, Tanzania, Uganda and Zambia.  Many African civil servants and unionised workers have not had access to traditional finance in the past, but Bayport offers financial solutions to these “unbanked” people through our unique approach and a business plan tailored to mitigate the risks of the African financial market.

Bayport operates one level above the typical microfinance institution (MFI).  Very few MFIs are self-sufficient, they serve very small client bases and there are thousands of them.  Bayport also makes small, short-term loans to clients, but the money is taken to the commercial market for funding and its business is operated to turn a profit.  We serve more than 150 000 clients through 61 distribution points and we have achieved the critical mass and market presence to remain viable and profitable over the long term.

Typically, Bayport clients borrow money to pay for education (nearly 40 percent of loans).  About one-fifth borrows money to pay for home improvements.  The balance is made up of loans to pay for agricultural and farming activities, pay for funeral proceedings and to fund business operations.  Many clients borrow the money to consolidate pricier debt through cheaper consolidation loans.  Bayport offers a counselling service to educate borrowers about the loans they require and how these will impact their daily lives.  We believe in a responsible approach to avoid clients becoming bogged down by an unmanageable debt burden.

Bayport’s financial solutions financially empower thousands of Africans.  For more information, contact Bayport Financial Services today.