Microcred Mali is part of Microcred Group, a digital finance company focusing on financial inclusion in Africa and China. Microcred Mali offers financial services to emerging client segments particularly the unbanked. Microcred Mali has deployed a cost-effective model to address the issue of micro & SME financing globally.
To offer financial inclusion to off-grid customers in Mali, Microcred will provide PAYG energy. PAYG energy will offer the company’s clients a first leasing experience, based on energetic savings realized thanks to the solar product. Then, once owner of their solar product, they will become eligible for a digital loan with Microcred Mali. An optional tablet may be included in the pack to offer rural farmers a way to access key data (weather, the retail price of their products, potential buyers, or where to buy their seeds) to help them improve their productivity and revenue. Then, thanks to the digital loan, they will be able to develop their agricultural activities. By year 3, at a mature stage, the project will be deployed in 10 areas, have 228 employees and 50,000 clients.
Thanks to the PAYG technology and key code system, the company can offer clients more flexibility in their payments (daily, weekly, monthly...). Baobab+ also has developed a unique methodology in the PAYG sector to manage the lending risk that has started to become a problem in the sector. Another innovation is the Pluse scoring analysis developed by Microcred, to offer cash loan to their PAYG clients. Also, being an MFI using PAYG Energy to reach more rural clients and increase financial inclusion is innovative!