Baar-Zug, Switzerland, July 7, 2022
Blue Earth Capital (“BlueEarth”) has committed USD 20 million of subordinated debt to Bayport Management Ltd (“Bayport” or “the Company”). Bayport is a global leader in at-source deduction lending, with operations in Ghana, Uganda, Tanzania, Mozambique, Botswana, Zambia, Colombia and Mexico, and an associate operation in South Africa.
The Company offers loans to formally employed customers who have limited access to traditional financial services and has a 20-year track record of advancing financial inclusion in developing markets. Recent studies show that there is a growing need for financial inclusion, with over 33% of the global working age population without access to affordable financial products and services.
Bayport aims to improve its customers’ lives through cheaper and more accessible financial services to reduce income inequality. Their customers are typically civil servants, notably teachers, nurses and police officers, who use their loans to educate their children, improve their homes, deal with family emergencies and run micro businesses to supplement their income. By supporting access to financial services, Bayport helps protect basic standards of living, ready access to essential services and productive income generation for millions of underserved populations.
Amy Wang, Head of Private Debt of Blue Earth Capital, comments: “We are excited to be able to further deepen our long-term partnership with Bayport. We believe this investment helps Bayport unlock critical liquidity needed to drive growth in their African subsidiaries, improving their clients’ lives”.
Chris Newson, CEO of Bayport, comments: “Financial inclusion and empowerment is the driving force behind our business. The continued support that Blue Earth Capital has shown in our business model and track record is very gratifying, and we look forward to further cementing this partnership to the benefit of our customers across the world.”
Founded in 2001 and headquartered in Mauritius, Bayport is a listed non-bank financial institution providing unsecured at-source deduction lending, augmented with deposit taking and insurance products. The Company focuses on responsible lending of fixed instalment loans with locally managed credit underwriting functions and strict affordability rules to ensure that customers do not take on debt which they cannot afford.
About Blue Earth Capital
Blue Earth Capital AG is a global impact investment firm headquartered in Switzerland, with operations in New York and London. Blue Earth Capital seeks to invest in businesses that address pressing environmental and social challenges, whilst generating market-rate financial returns. Initiated in 2015 by Urs Wietlisbach, one of the founders of Partners Group, and backed by the Ursimone Wietlisbach Foundation.
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