impactMarket’s Microcredit Report — April to September 2023
Insights, exciting results, and next steps to expand the microcredit program currently available in Brazil, Uganda, Nigeria, and Ghana.
In the fast-evolving landscape of microfinance, impactMarket continues to push boundaries with our newest product, Microcredit. We are excited to publish our second Microcredit Report, covering the period between April and September 2023. This report not only builds on the initial insights from the pilot in Uganda but also introduces compelling findings from the pilots in Brazil, Nigeria, and Ghana. These new endeavors mark the extension of our mission to empower small-scale entrepreneurs with access to vital financial resources. Together, they paint a vibrant picture of the impactMarket’s microcredit initiative. See the highlights of our latest report:
Mobile Bankers: The Catalysts of Change
A highlight in this report is the role of our Mobile Bankers. These dedicated individuals are instrumental in bringing the benefits of microcredit to entrepreneurs in Brazil, Uganda, Nigeria, and Ghana. With 12 active Mobile Bankers across these regions, we’re not just extending financial access; we’re building a network of local change agents who understand the unique needs of their communities. Get to know more about it by downloading the full report.
Incentivizing Repayment: Strategies and Success
Ensuring repayment is a critical factor in the success of microcredit. We’ve implemented innovative strategies to incentivize borrowers, such as tailored repayment schedules and incentive campaigns. The result? An impressive 0% default rate since the start of our microcredit pilots. This demonstrates not only the viability of our model but also the commitment of our carefully selected borrowers.
From Insights to Growth: The Path Forward
What’s next for impactMarket’s Microcredit initiative? We are committed to ensuring robust growth, maintaining excellent results, and providing the best user experience possible to drive adoption and make a tangible impact on the ground. The report outlines our projected growth of +66.67% for Q4 2023 and +60% for Q1 2024. These projections are based on our accumulated results and learnings, and a clear vision for development and implementation.
This is just a glimpse of what this Microcredit Report holds. We invite you to dive into the full report to explore the in-depth results, insights, and strategies that have made this initiative a resounding success. Discover how decentralized and inclusive microcredit, enabled by blockchain, is revolutionizing access to finance for entrepreneurs in Brazil, Uganda, Nigeria, and Ghana. Download the full report now to access more information.
You might also be interested in our previous reports:
