Global credit information and risk management solutions company, Creditinfo Group, today announced the acquisition of two credit bureaus in Uganda and Namibia.
As part of the acquisition, Creditinfo will also take on all employees working in the credit bureaus, which were previously owned by Experian Namibia, and will combine local expertise with its own extensive experience in delivering private credit solutions to African and European nations to help millions access finance.
Creditinfo has a unique mix of market knowledge that it will draw on to complement the work of the strong management teams already in place in Namibia and Uganda.
Its experience working with more traditional lending markets in Europe combined with its knowledge of the different trends in lending markets in sub-Saharan Africa – such as the drive-in mobile wallet use in Kenya – will help both Namibia and Uganda’s credit bureaus grow.
Coupling this experience with its advanced software and analytics products, Creditinfo will deliver its world-leading credit bureau solutions to help the two bureaus facilitate access to finance for both individuals, small and medium enterprises and corporates in the regions.
Paul Randall, the chief executive at Creditinfo, said his company is committed to sustainably growing the business and identifying ideal opportunities to add strong and profitable credit bureaus to the Creditinfo Group, while helping more local citizens and businesses access finance.
“Uganda and Namibia are ideal partners for us in this respect and all our new employees are a credit to the Creditinfo name. As the leading credit bureau provider in Africa, we eagerly look forward to working together to provide the best service possible in each country,” he said.
Uganda’s country manager Mark Mwanje said Experian Uganda is delighted to join the Creditinfo Group.
“We believe their years of expertise and knowledge will be a great asset to our existing team of dedicated and talented employees. We look forward to joining forces to help the local people and our growing economy,” he said.
Karin van Vuuren, the country manager of part of the acquisition, said Creditinfo will also take on all employees working in the credit bureaus, which were previously owned by Experian Namibia. She said working with Creditinfo gives them the chance to tap into new opportunities for further growth.
“The company’s in-depth experience will be instrumental in helping banks and other lenders to extend credit, while ensuring we’re still a private credit bureau run by local people for local people, with all their best interests at heart,” she said.