DGAP-News

MyBucks S.A.: MyBucks attracts global attention with its growth on 'mobile continent' Africa

DGAP-News: MyBucks S.A. / Key word(s): Miscellaneous MyBucks S.A.: MyBucks attracts global attention with its growth on 'mobile continent' Africa 21.07.2017 / 09:42 The issuer is solely responsible for the content of this announcement. /

Corporate Haraka press release

MyBucks attracts global attention with its growth on "mobile continent" Africa

- Launch of nano-business app Haraka in Zimbabwe, Uganda, Tanzania and Swaziland

Luxembourg, 21 July 2017 - Luxembourg-based and Frankfurt-listed FinTech, MyBucks is expanding the reach of its highly successful nano-loan business app, Haraka in Sub-Saharan Africa, while the technology has attracted global attention, with requests for rollouts on three continents.

After a successful case study in Kenya, the app has since been released in Zimbabwe, Uganda, Tanzania and Swaziland. Further, financial institutions from countries as diverse as Argentina, India, the Philippines and Australia have taken note of the innovative scoring platform and requested the model be applied to their respective markets.

Haraka, which means "quickly" in Swahili, is a revolutionary smartphone app, developed to strategically bridge the gap between formal and informal economies. To do so, Haraka connects unbanked and under-banked small business and informal traders with financing opportunities.

Dave van Niekerk, CEO of MyBucks, says that the performance of the app in Kenya since its debut in September 2016 has been remarkable. "There have been over 90,000 downloads of Haraka to date, with 15,000 currently active clients having used the app in the last 30 days. In terms of customer retention, we have seen that 44% of clients who have downloaded the app return to use it more than once, allowing for 37,310 loans to be issued to date.

"Able to rely on smartphones and data from social media such as Facebook accounts, Haraka provides fast, easy and convenient access to loans for all users, without the need for a traditional bank account," continued van Niekerk. "It has become a revolutionary means of distributing reliable, small value and unsecured nano-loans within a short period of time."