• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

US lender loans Sh155m to Kenya boda boda firm

samrack by samrack
September 29, 2017
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, People, U.S Diaspora
A A
0
US lender loans Sh155m to Kenya boda boda firm
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
Boda boda riders at a fuel station in Nairobi. FILE PHOTO | NMG 

US lender loans Sh155m to Kenya boda boda firm

A Mombasa-based lender which finances acquisition of motor cycle taxis (boda bodas) on credit has secured a Sh155 million ($1.5 million) loan from an American firm to boost its expansion in Kenya and grow its market share.

Watu Credit will under the deal use the capital arranged by US-based finance platform Lendable, to grow its capacity to finance the purchase of boda boda motorcycles on credit by more individuals.

“We’ve benefited from time and cost savings in using Lendable’s digital deal platform. This form of financing means Watu Credit can access working capital to grow its loan book without having to tie up its balance sheet,” said Watu Credit chief executive officer Andris Kaneps.

The lender says it plans to extend its geographical coverage across Kenya, moving into Central, Rift and Western regions by the end of next year. The funds have been secured using future repayments on loans advanced by Watu Credit to its boda boda clients.

Los Angeles-based Shinnecock Partners were the sole investor in the deal and marks its first investment in Africa.

“We’re proud to help Watu Credit scale up through the provision of credit and free access to analytics,” said Lendable chief executive and co-founder Daniel Goldfarb.

Lendable has in the past financed Uganda-based Tugende, who offer a lease-to-own model for Ugandan boda-boda drivers.

In 2015 the Motorcycle Assemblers Association of Kenya estimated that eight million Kenyans on average used a boda boda daily, generating Sh400 million in revenue.

Lendable says it targets alternative lenders whose customer base is small and micro businesses, to scale up their operations through access to technology-enabled structured financing.

Source: Daily Nation

 

 

 

Tags: US lender loans Sh155m to Kenya boda boda firm
Previous Post

Transition /Death Announcement/Memorial Service 10/1/17 of Delfina Waithera Kuria

Next Post

Raila Issues One Condition to President Uhuru for Him to Participate in Repeat Elections

Related Posts

A collage of IG Japhet Koome and the late Jeff Mwathi.

Kasarani Death Puzzles: Police Give Way Forward on Jeff Mwathi Case

March 26, 2023
A photo collage of Police Inspector General Japhet Koome (left) and Azimio Leader Raila Odinga (right).FILE
Africa

IG Koome Addresses Concerns by Kenyans Ahead of Azimio Protests

March 26, 2023
President Wiliam Ruto alights from his jet after landing at Jomo Kenyatta International Airport, Nairobi,
Africa

Ruto Heads to Germany and Belgium for Energy, Trade Deals

March 26, 2023
USCIS Says Individuals on Business or Tourist Visas Can Apply for New Jobs
Diaspora

USCIS Says Individuals on Business or Tourist Visas Can Apply for New Jobs

March 24, 2023
US-Based Kenyan Author Dies After Falling from an Apartment’s Fourth Floor

US-Based Kenyan Author Dies After Falling from an Apartment’s Fourth Floor

March 24, 2023
Kenyan Woman Linda Obinchu Found Dead in Gaithersburg Maryland
Diaspora

Kenyan Woman Linda Obinchu Found Dead in Gaithersburg Maryland

March 24, 2023
Next Post
Raila Issues One Condition to President Uhuru for Him to Participate in Repeat Elections

Raila Issues One Condition to President Uhuru for Him to Participate in Repeat Elections

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT
KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680
ADVERTISEMENT

Latest News

Kasarani Death Puzzles: Police Give Way Forward on Jeff Mwathi Case

IG Koome Addresses Concerns by Kenyans Ahead of Azimio Protests

Ruto Heads to Germany and Belgium for Energy, Trade Deals

USCIS Says Individuals on Business or Tourist Visas Can Apply for New Jobs

US-Based Kenyan Author Dies After Falling from an Apartment’s Fourth Floor

Kenyan Woman Linda Obinchu Found Dead in Gaithersburg Maryland

Donations Ongoing for IRVO OTIENO whose life was cut short was cut short in the hands of 7 Police Deputies near Richmond, VA

GoFundMe fundraiser:Donate to help the Mbatha children and family

Daughter of the Late Kenyan Journalist Philip Ochieng Found Dead in Dallas, Texas

US-Based Kenyan Couple Brutally Murdered in Their Home in Nyamira

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Kisumu residents stage protests over high cost of living in Kisumu on March 10. Image: DANIEL OGENDO

[PHOTOS] Dramatic scenes during Kisumu demonstrations

by samrack
March 10, 2023
0

Dramatic scenes during Kisumu demonstrations The protesters are seen negotiating with police to allow them to demonstrate. They held...

Azimio leaders at Migori rally on Friday, March 10, 2023 Image: JAMES ORENGO/TWITTER

Raila names Safaricom among companies listed for boycott

by samrack
March 10, 2023
0

Raila names Safaricom among companies listed for boycott He said his call for mass action and demonstrations which will culminate...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.052 seconds. Stats plugin by www.blog.ca