4G Capital has received B Corporation certification with one unifying goal – to redefine “success” in business.
4G Capital received the B Corps certification from the international non-profit organisation, B Lab, for meeting rigorous standards in social and environmental performance while improving the quality of life in the communities in which they operate.
To become certified 4G Capital had to prove that it met stringent performance requirements outlined in the B Impact Assessment. The assessment measures the impact the company has on its customers and the broader community, how well the company treats its employees, its environmental performance, as well as the company’s accountability, governance, and transparency practices.
4G Capital attributes its success to a unique model combining a nationwide network of physical branches across Kenya and Uganda with machine learning technology. 4G Capital knows that small businesses benefit from a level of continuous support when handling credit. Therefore the company offers a curriculum of customer enterprise training and financial literacy blended with appropriately sized working capital loans. This approach has seen 4G Capital’s customers increase their revenue by an average of 82% annually.
Victoria Gathogo, B Lab East Africa Partnerships & Community Engagement Manager said, ” 4G Capital is a great addition to the movement of Certified B Corporations in Africa, measuring their social and environmental impact with as much rigour as their profits. They want to be at the forefront of driving business as a force for good, not only to maximise shareholder wealth but all stakeholders wealth; workers, community, supply chain, the environment etc.
Wayne Hennessy-Barret, CEO and Founder of 4G Capital, said: “ B Corp accreditation is a tremendous achievement for 4G Capital, and an extraordinary recognition. It’s a testament to the commitment and hard work of our staff across Kenya and Uganda who place customer success at the heart of all our work. I’d like to thank B Lab’s rigour and professionalism in setting the highest benchmark for ethical business.”
The focus on creating sustainable solutions for its customers is reflected in 4G Capital’s growing success. The company has outperformed expectations this quarter; Q319 figures show that over the last 12 months customer numbers have grown by 62% to 82,000 with total value of loans to date also increasing by 111% over the same period to a total of $79 million since inception. This award comes hot on the heels of a silver medal award by the World Bank, sponsored SME Forum in Amsterdam and recognition as one of the London Stock Exchange Groups Companies to Inspire Africa earlier in the year.