We want to be a world-class leader in Microfinance lending in East and Central Africa – Ngao Credit
According to the World Bank, less than a quarter of adults in Sub-Saharan Africa have access to formal financial services. What this basically means is that they lack a place to save money securely, safe and efficient means of transferring money, access to credit and even insurance.
It also means the majority of people on the continent are often barred from making productive investments in their families and businesses.
Lack of access to finance according to the World Bank is also a key constraint on the growth of small and medium enterprises in Sub-Saharan Africa, and thus also an important limitation on employment, economic growth and shared prosperity.
African financial systems have however improved in the past two decades. The launch and growth of digital financial services, for example, has led to an unprecedented increase in the number of people enjoying access to formal financial services. The continent, led by countries like Kenya is now home to more digital financial services deployment than any other region in the world. This has been made possible by financial institutions such as Ngao Credit Limited, a non-deposit taking Microfinance institution providing financial services and solutions across Kenya.
With six branches across the country in Nairobi Upperhill and the Central Business District (CBD), Mombasa, Nakuru, Eldoret and Kitengela, Ngao Credit Limited prides itself in providing unique and tailor-made financial solutions.
Its products offerings include Auto Logbook Loans which are quick loans against motor vehicles, Asset Finance, Import Finance, Cheque Cashing, and Loan against shares. Others are Bid Bonds for those involved in tendering processes and performance bonds for contractors.
Remember Kenya is among the countries in East Africa with the highest proportion of adults accessing financial services according to a recent 2019 FinAccess Household survey. Ngao Credit’s mission is to partner, strengthen and improve the lives of youth and all visionary Kenyans by offering unique, tailor-made financial solutions to enable them to achieve their life goals.
Microfinance institutions provide small-scale financial services to low-income individuals and their loans are designed to foster sustainable economic empowerment and capacity building for people in developing regions. Ngao credit aims to be a world-class leader in Microfinance lending in East and Central Africa.
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