ExpressCredit Namibia expands its product offering on Mintos

23.02.2021

mintosblog

ExpressCredit Namibia now offers to invest in short-term loans with interest rates of up to 13.5% per year. This is an addition to the company’s existing instalment loan portfolio on the Mintos marketplace.  

About ExpressCredit Namibia

 

ExpressCredit started its operations in Namibia in 2017 and has since demonstrated rapid growth by becoming the second biggest microlender in Namibia, according to NAMFISA (Namibia Financial Institutions Supervisory Authority). ExpressCredit in Namibia has a network of 22 branches covering the entire country and facilitating financial inclusion. Since its inception, the company has issued more than 109 000 loans with a total value of approximately €26 million. 

ExpressCredit Namibia short-term loans on Mintos

 

Annual interest rate Up to 13.5%
Average loan amount € 120
Average loan term 1 month
Skin in the game 5%
Mintos Risk Score 5
Buyback obligation Yes

All ExpressCredit Namibia short-term loans come with a buyback obligation.

The lending company is evaluated to have a Mintos Risk Score of 5, with the subscores of 4 (Loan portfolio performance), 7 (Loan servicer efficiency), 5 (Buyback strength) and 4 (Cooperation structure). 

Other developments of ExpressCredit Namibia

 

At the end of the year 2020, ExpressCredit passed the necessary requirements and was granted a deduction code by the Ministry of Finance, allowing the company to offer loans to government employees and further diversify the company’s portfolio to a new market segment of loans with terms from 6 months to 5 years. Due to a number of strict requirements, ExpressCredit is one of the very few companies in this market that have obtained the deduction code.

How to invest in ExpressCredit Namibia short-term loans

 

ExpressCredit Namibia short-term loans will be added to the Diversified and High Yield strategy. If you want to invest in these loans with a custom automated strategy, make sure to adjust your strategy settings. If you’re investing manually, you can filter the loans on the Primary Market

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