MyBucks Subsidiaries Approval by Social Ratings Agency
Luxembourg, 26 March, 2018 – Frankfurt-listed Fintech MyBucks has received validation of three of its subsidiaries in Africa with social ratings by international ratings agency MicroFinanza.
GetBucks Botswana was awarded a B+ social rating. Opportunity Bank Uganda and Opportunity Bank Mozambique were also recognised by the ratings agency with a BB and B+ rating, respectively. The social rating looks at social performance management, client protection systems and alignment to the social mission of the bank.
MicroFinanza is an independent international ratings agency specialising in microfinance. MicroFinanza provides “the microfinance and responsible finance industry with independent, high-quality ratings aiming at enhancing transparency, facilitating investments and promoting best practices worldwide”. By providing these ratings, MicroFinanza provides an objective measuring tool that investors and service-providers can use when assessing players in the microfinance industry.
MyBucks Executive Chairman Dave van Niekerk said: “This is a validation of our business. MyBucks has experienced exponential growth since it was launched in 2011, with our younger subsidiaries now operating in numerous countries on three continents.
“What the ratings do is provide an external take on the long-term sustainability, social competence and creditworthiness of MyBucks subsidiaries. MicroFinanza conducted a thorough assessment of risks, performance, market position and responsible practices. We believe in our innovative business strategy as well as being a responsible corporate citizen.
“It should be noted that these ratings were first-time ratings, and the Group is delighted with the outcomes. However, the entities will redouble efforts to obtain a higher rating in the future, illustrating our commitment to responsible lending practices.”
Van Niekerk said MyBucks will continue on its path to “mix philanthropy and capitalism”. “MyBucks seeks to empower those who have been financially excluded, whilst providing a profitable and sustainable business for all MyBucks’ stakeholders,” he said.
“This speaks to our vision, where we endeavour to enable everyone to educate themselves and access financial products and services, through technology, anywhere and at any time.”
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 Opportunity International, GetBucks and GetSure the company offers impact loans, unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in 11 African countries, Poland and 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: www.mybucks.com