4G Capital Recognized by the International Finance Corporation (IFC) and the SME Finance Forum for Global Responsible Digital Innovator of the Year

4G Capital (www.4G-Capital.com), a market-leading neobank powering the growth of micro and small businesses in Kenya and Uganda, received an honorable mention for Responsible Digital Innovator of the Year at the 2022 Global SME Finance Forum Awards (https://bit.ly/3Soylrh) on September 21st.

Organized by the SME Finance Forum, created by the G20 and managed by the International Finance Corporation (IFC) of the World Bank, the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies offering products and services to their SME clients to fill the financing gap and promote sustainable growth.

4G Capital has been recognized for its innovation and its contribution to the economic advancement of its clients. By building businesses with capital and knowledge, 4G Capital has positively impacted over 1.5 million people in East Africa.

Wayne Hennessy-Barrett, Founder and CEO of 4G Capital, said, “Today we face many challenges; the rising cost of living and the extraordinary threat to food security in Africa posed not only by climate change but also by the war in Ukraine. Our mission is to democratize equitable wealth creation through financial inclusion and business training that paves the way to formality for micro-entrepreneurs and MSMEs. We are honored and humbled by the recognition and support from the IFC and the SME Finance Forum.”

Matthew Gamser, CEO of the SME Finance Forum, said: “This year has seen the highest number of applicants ever, as we move into a fifth category of awards in the important area of ​​greening SME finance. We have more countries with more products and financial approaches than ever before. It was a tall order for the approximately 100 judges, whom we warmly thank for their expert, informed and unbiased judgment on who deserved recognition.

In this fifth year of the competition, entrants have continued to exemplify resilience and innovation across all categories, from work in progress serving SMEs in the SME Finance of the Year category to institutions passing on guidelines for the responsible investor (https://bit.ly /3UoXG66) in the Digital Innovator of the Year, with creative and holistic approaches in the Best Financier for Women Entrepreneurs category, which is organized each year in partnership with the IFC Banking on Women (https://bit.ly/3LzNDHy) Initiative.

Magda Bianco, co-chair of the GPFI, said“The G20 Global Partnership for Financial Inclusion welcomes this latest round of Global SME Finance Awards which, together with our new database of digital innovations in SME finance, helps raise awareness of all the new possibilities that digitalization offers to improve small businesses’ access to finance. I am very impressed by the number of these SME finance initiatives that are taking place in the world’s poorest countries and in fragile and affected areas Congratulations to all winners, honorable mentions and all who applied, and I really encourage you to share your great work in our new database (https://bit.ly/3f7pPP5).

Distributed by APO Group on behalf of 4G Capital.

Media Contact:
Lydia-Claire Halliday
LCH Consulting & Associates
+2547080005410
[email protected]

About 4G Capital:
4G Capital employs over 1000 staff in Kenya and Uganda. Since its inception in 2013, the company has lent over 2,154,969 small working capital loans worth over $289 million. The company has nearly 300,000 customers, 74% of whom are women, and 53% manage micro and SMEs in rural areas. 4G Capital clients receive personalized business training programs and credit counseling through mobile apps and in person through a nationwide network of branches. 4G Capital’s unique machine learning technology provides high-fidelity insight into client risk and affordability. As a result, 4G Capital consistently achieves high recovery rates without collateral or refinancing from its clients, lending only to viable businesses on terms that suit them. 4G Capital has had a positive impact on over 1.5 million people. After receiving several industry awards, 4G Capital is now expanding and expanding its range of products and services in East Africa. As a B Corporation, 4G Capital champions the movement’s approach to creating shared value and was recently listed as one of B Corporation’s top 10 financial services providers globally. www.4G-Capital.com

About the SME Finance Forum:
The SME Finance Forum works to expand access to finance for small and medium enterprises. The Forum operates a global membership network that brings together financial institutions, technology companies and development finance institutions to share knowledge, drive innovation and promote SME growth. Created in 2012 by the G20 Global Partnership for Financial Inclusion, the SME Finance Forum is managed by IFC. For more information visit http://www.SMEFinanceForum.org

For a full list of winners in each category and honorable mentions, please visit the Global SME Finance Awards 2022 website (https://bit.ly/3xCvrHi).

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.

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