Watu Credit Limited
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Watu Credit Limited (Kenya) (‘Watu’) is a micro-lending company that provides pay-as-you-go financing to young entrepreneurs operating motorcycle (boda bodas) and tuk-tuk transport businesses in Kenya. Watu’s mission is to meaningfully improve employment and opportunities for those with the greatest barriers to accessing financial services.
What is our funding objective?
Funding from the DTX TAF would support Watu in developing a well-structured job grading system tied to the compensation and benefits framework for employees. The project is expected to support the professionalization of Watu’s activities, while contributing to its growth.
Why do we fund this investment?
The project is aligned with FMO’s Impact Objectives, specifically to Decent Work (SDG 8) and Reducing Inequalities Development (SDG 10). The professionalization of our customers’ operations is of paramount importance to create sustainable impact in our market. This project is expected to help Watu develop an equal, fair, and transparent job grading system for its employees, increase motivation within its ranks, and attract talent to continue growing.
What is the Environmental and Social categorization rationale?
n/a
More investments
| Date | Total FMO financing |
|---|---|
| 12/16/2022 | EUR 0.03 MLN |
| 12/9/2022 | USD 10.00 MLN |
- Website customer/investment
- https://watuafrica.com/?
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Publication date
- 12/13/2024
- Effective date
- 12/4/2024
- Total FMO financing
- EUR 0.06 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C