Edison Investment Research - MyBucks SA (MBC) MyBucks - Continued efforts to turn the business around

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Edison Investment Research

Pedro Fonseca

MyBucks - Continued efforts to turn the business around

In June MyBucks (MBC) announced it had successfully completed its restructuring, conducting further business disposals to reduce its debt burden. This was accompanied by several management board changes, including the departure of Timothy Nuy (CEO) who was hired last year to lead the restructuring process. Meanwhile, MBC had postponed the publication of its interim results (now scheduled for September) while its major shareholder (Ecsponent) is facing financial challenges that are partially related to MBC’s underperformance. The latter could potentially limit further equity injections if MBC requires additional funding.

21/09/2020 3 EN

Underlying

MyBucks SA

MyBucks SA. MyBucks SA is a Luxembourg-based company primarily engaged in the consumer lending sector. The Company is a financial technology (FinTech) entity, which focuses on distributing financial products through online platforms. Its products and services portfolio comprises: GetBucks, which offers short-term single payment loans, installment loans and other credit-related services; GetSure, which provides insurance cover, including life, funeral and health insurance, among others, and GetBanked, which offers saving accounts, mobile payment transactions, credit card transactions, as well as access to banking, credit and insurance portfolio in an online tool, among others. The Company aims at low- and middle-income consumer segment, mainly in emerging markets. It operates in a number of European and South African countries, such as Spain, Poland, Zimbabwe, Kenya, Botswana and Uganda. It operates through New Finance Bank Malawi Ltd, a Lilongwe-based commercial bank.

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LU1404975507 Luxembourg

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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MyBucks - Continued efforts to turn the business around

DGAP-News: MyBucks S.A.: MyBucks S.A. Completes Second Phase of Financial Restructuring

DGAP-News: MyBucks S.A. Announces Changes to its Board of Directors

Picton Property Income - Unlocking value to drive DPS growth

AFT Pharmaceuticals - Maxigesic IV’s Brazil entry, a foray into LATAM

The Pebble Group - Two distinct businesses in one

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