15.06.2018
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DGAP-News: MyBucks S.A.: MyBucks secures funding for SME finance in Uganda
DGAP-News: MyBucks S.A. / Key word(s): Financing
MyBucks S.A.: MyBucks secures funding for SME finance in Uganda
15.06.2018 / 08:33
The issuer is solely responsible for the content of this announcement.
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Corporate News
MyBucks secures funding for SME finance in Uganda
- Symbiotics S.A. has arranged USD 2,000,000 in funding for Opportunity Bank
Uganda Limited ("OBUL").
MyBucks has secured a USD 2,000,000 loan facility for SME finance from
Symbiotics S.A. through three of the funds which it manages, being the
REGMIFA Fund, SEB V Microfinance Fund and SEB Microfinance Life Fund.
Luxembourg, 15 June 2018 - Frankfurt-listed FinTech, MyBucks S.A., today
announced that it had secured a term loan facility arranged by Symbiotics
S.A to finance SME lending in Uganda.
The funding forms part of a broader strategy within MyBucks to increase
long-term funding at subsidiary level, thus providing a platform to enhance
financial inclusion and to promote sustainable development in Africa. OBUL,
with the assistance of MyBucks' technology, intends to deploy funding to
micro SMEs and SMEs within Uganda through the digital banking offering which
it is currently seeking to grow within the market.
MyBucks CEO, Tim Nuy says, "Partnerships with social impact investors is
important to MyBucks from the perspective that it provides much needed
long-term funding, but also comes with the added advantage as we are able to
continue to leverage on the wealth of experience that our partners have in
micro SME and SME funding. We are grateful for the support of Symbiotics
S.A. and look forward to replicating this partnership in our other markets."
Symbiotics' Head of Investments, Daniel Schriber, says: "We are pleased to
partner with Opportunity Bank Uganda to facilitate financing to local
entrepreneurs and MSMEs (micro, small and medium enterprises). This
investment will help grow our outreach in Uganda and in areas where
financial inclusion is most needed".
About MyBucks
About MyBucks
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a
FinTech company based in Luxembourg that delivers seamless financial
services through technology. Through its brands GetBucks, GetSure, New
Finance Bank and Fairgo Finance, the company offers impact loans, unsecured
credit, banking solutions as well as insurance products to customers.
MyBucks has experienced exponential growth since its inception in 2011 and
today has operations in eleven African and one European countries as well as
in Australia. MyBucks aims to ensure that its product offering is
accessible, simple and trustworthy, in comparison to traditional,
non-technological methods, ultimately working towards enhancing the benefits
to the customer. The MyBucks' product offering enables customers to manage
their financial affairs easily and conveniently.
Discover more at http://www.mybucks.com.
About Symbiotics
Symbiotics is the leading market access platform for impact investing. Over
the past decade, the company has originated and structured over 3270
investment transactions, worth more than USD 4.1 billion, on behalf of 384
companies in 79 emerging and frontier markets, all serving a measurable
sustainable and inclusive finance objective, purchased by 50 different
investment funds and institutional investors. Symbiotics is a registered
asset manager in Switzerland, a registered investment adviser in the United
Kingdom, and has further office presence in Mexico, the Netherlands,
Singapore and South Africa, regrouping more than 135 employees worldwide.
www.symbioticsgroup.com
Contact
[email protected]
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15.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: MyBucks S.A.
14, rue Edward Steichen
L-2540 Luxembourg
Grand Duchy of Luxembourg
Phone: +352 2088 2123
Fax: +27 86 537 2010
E-mail: [email protected]
Internet: www.mybucks.com
ISIN: LU1404975507
WKN: A2AJLT
Listed: Regulated Unofficial Market in Frankfurt (Scale)
End of News DGAP News Service
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