MYC4 East Africa Ltd from Kenya


MYC4 East Africa Ltd, (MYC4 EA) is a subsidiary of MYC4 A/S, Denmark and is managing the providers on the platform. Further MYC4 EA is acting as a provider on its own rights for wholesale loans to Microfinance institutions in Kenya.


Biography
MYC4 East Africa Ltd, (MYC4 EA)

Who we are


MYC4 East Africa Ltd (MYC4, EA) LTD is a company limited by shares duly registered under the laws of Kenya in June 2013. MYC4 EA is a fully owned subsidiary of MYC4 A/S, a Danish company incorporated in 2006 to accelerate the growth and development of businesses in Africa through crowd funding. . This will be achieved through continuous availability of capital on a sustainable basis. Since establishment, MYC4 is expanding the availability of credit to many sectors including trade, agriculture, service and renewable energy, through an innovative online technology approach that marries both social and for-profit lending models.

What we do


 It is the responsibility of MYC4 EA to screen all microfinance institutions before they are allowed to use the platform; to manage the relationship with providers; and to ensure best practice in risk management. MYC4 EA team is highly experienced in risk management gained from various financial institutions and departments. MYC4 EA will manage both retail and wholesale lending for MYC4 A/S. However, the MYC4 EA Provider profile has been set up for purposes of facilitating the wholesale lending. The bidding process is inspired by a Dutch auction model whereby the investors who offer the lowest rates ultimately win the bids. The wholesale loan is repaid in Euros hence there is no currency risk for the investors.


Why we do what we do


In 2014, MYC4 EA came up with another innovative product of wholesale lending to Microfinance Institutions in Kenya. This was informed by the growth in demand for wholesale loan product in the market, MYC4 EA has therefore come in to bridge this gap with the introduction for whole. All the loans are financed through a process of competitive crowdfunding. Essentially, MYC4 investors pool money to fund each loan on the platform - while simultaneously competing to participate on the loans by selecting their own interest rates.
MYC4 A/S, was founded by Mads Kjaer and Tim Vang in 2006; the founders had a vision for Africa in which poverty will be significantly reduced through business and entrepreneurship. More information on who we are can be found here
MYC4 general conditions ( financial intermediaries).pdf

Address

MYC4 East Africa Ltd
Kilimani Business Centre
Kirichwa Road
Tel:+254 20 249 5760
Email: titus@myc4.com