4G CAPITAL , a micro and SME businesses lender across Kenya and Uganda, has received a SILVER award as “SME Financier of the Year – Africa” with “distinction serving International Development Association (IDA) countries and fragile and conflict-affected situations” at the 2021 Global SME Finance Forum Awards.
Organised by SME Finance Forum, established by the G20 and managed by the World Bank’s International Finance Corporation (IFC), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies delivering exceptional products and services to their SME clients to promote growth.
As governments worldwide wrestle to contain the spread of COVID-19 and its unparalleled impact on national economies and people’s lives, the entrants for this year’s competition embody the creative resilience and responsiveness of financiers and fintechs from across the globe to serve the SME sector.
“Building more resilient SMEs is critical to the world’s economic recovery,” said Paulo de Bolle, Global Senior Director of the Financial Institutions Group at IFC. “The Global SME Finance Awards showcase innovative approaches that can contribute to this resilience and provide an opportunity to share knowledge and good practices.”
4G Capital was recognised for its innovation and efficiency, excellent repayment rates (>94%, without need for refinancing) and contribution to financial literacy across its client base of MSMEs. The company was also commended for its risk management and ‘touch-tech’ approach, blending face-to-face client relationship management with unique digital tools.
Magda Bianco, GPFI co-Chair said, “As co-chair of the G20’s Global Partnership for Financial Inclusion, I’m impressed by the work we see in this competition from the world’s leading MSME financiers. They have introduced new solutions in lending, payments, insurance and even non-financial services. They are enabling micro, small and medium enterprises to join digital ecosystems and marketplaces while at the same time helping them safeguard their private data and to improve their own financial literacy and management. The greater provision and use of digital financial tools, services, and channels during the COVID-19 crisis – when these tools are designed in a way that considers above all the interest of recipients – is providing many benefits to MSMEs, including enhanced access to government financial aid and to financial products and services; stronger operational resilience; and even breakthroughs in innovative regulations.”
Wayne Hennessy-Barrett, CEO and Founder of 4G Capital, upon receiving the award, said, “We are once again honoured and humbled by this extraordinary recognition. Micro SME growth is key to rebuilding global prosperity and democratising wealth creation. Our mission to grow businesses with capital and knowledge has never been more important, and we dedicate this award to our amazing clients and their communities in Kenya and Uganda.”
