A purpose-led business
A greater need for financial inclusion
Without the ability to be a part of the regulated financial system, people find it difficult to save, obtain fair-priced credit or start a business. Access to regulated credit and insurance products can help individuals and families plan for upcoming events, deal with unexpected emergencies, help expand a microbusiness and seek peace of mind with health and life cover – all of which can contribute to the quality of their lives.
It is estimated that 1.7 billion people worldwide are unbanked and as such excluded from day-to-day financial services. These consumers may not be well served by the financial services sector for a number of reasons:
- They work hard but their income is difficult to verify.
- They have never borrowed before and have no
formal credit history. - They have defaulted on a credit agreement in.
- the past resulting in a damaged credit history.
- They do not have a bank account.
- They lack internet access excluding them from digital services.
- They live in a rural area and access to a bank is difficult.
- The amount they wish to borrow and their repayment schedule is not of interest to a bank.
How we are making a better world for our stakeholders
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Providing access to regulated credit in a responsible way, when it really matters. We give consumers with low to medium incomes a much better alternative than the unregulated “grey” market.
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We start the process for mainstream financial inclusion for underserved consumers
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Our positive social contribution extends to the wider economy. Our customer representatives have a sense of pride in being connected to people in their communities and helping them obtain regulated credit. We also provide exciting career opportunities for our colleagues, invest in and support our communities, innovate with supplier partners to deliver growth and, as a responsible taxpayer, we believe in contributing our fair share to society in the markets in which we operate.
