Compuscan is a specialist credit information technology company, established in 1994, that provides risk management solutions to its clients, which include mainstream banks, microfinance institutions, micro-lenders, utility companies, co-ops and credit unions.
Compuscan proposes to build a rural agricultural finance credit bureau for small lenders. This will be a biometric based credit reference bureau which will, for example, store credit data and collaterals, allow loan processing, and store specific agricultural data.
Such a CRB focused on the agriculture sector does not currently exist in Africa. By including agricultural information into the credit reference bureau, poorer farmers, who are normally not included in the credit reference bureau, will be able to access credit for their farms.
Mr. Michael Malan, Managing Director
- 38 new jobs (immediately); 100 new jobs (over course of the project)
- Greater access to marginalised people (rural poor, women, youth) through formalisation of credit ratings
- Systemic benefits: increased proportion of population registered with a CRB, improved competition and reduced costs in the MFI sector