MyBucks - Growth pains
MyBucks (MBC) is pursuing technological and regional growth initiatives despite immediate challenges in integrating new acquisitions. The group is fully committed to its strategy of supplying financial services to poorly serviced customers, primarily low and middle income clients in sub-Saharan Africa via the internet, cell phones and applications. The product range has been expanded to include SME loans and insurance products. New acquisitions have extended coverage up the continent’s eastern seaboard, but have required considerable integration efforts.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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