Lending Services

Bayport’s Lending Services Are Available To Unbanked Africans

Bayport Financial Services’ lending services have been designed for “unbanked” Africans in Zambia, Tanzania, Uganda, Ghana and South Africa.  Traditionally, people without bank accounts had no access to traditional credit from commercial banks, due to the risks associated with this type of lending services, especially in Africa. 

Bayport believes that individuals can empower themselves through access to credit and therefore, we have devised a unique approach to mitigate the risks associated with extending credit in Africa.  In view of this, our credit has to be more expensive than commercial banks, but it still compares favourably with banks, considering their often-prohibitive lending conditions and the additional charges they levy.  Our rates are also far lower than those of loan sharks, whose interest rates may run into the hundreds of percent per year.

Through our multi-pronged approach, we forge partnerships with local employers, industry and trade unions to better understand the local people.  In addition, these partners act as our collecting arm, minimising our bad debts and mitigating many of the risks to such an extent that we can offer loans to Africans at reasonable rates while maintaining our long-term viability and our self-sufficiency.  We offer many types of loans, most of which are used to pay for education, home improvements, agriculture and secondary business investments.  We also offer salary advances and cellular telephone contracts.

Bayport Financial Services’ lending services are tailor-made for Africa and empower thousands of people to finance their futures and pursue economic opportunities.  For more information on our company and products, contact us today.