How a credit marketplace can unlock the potential in SMEs, with George Bakka from Patasente
- S1E10
- 35:11
- October 26th 2016
Interest rates in Uganda, and indeed the whole East Africa region, are by Western standards, very high.
A small business looking for a short term loan from a bank will be expected to pay in the region of 10% interest per month.
In an economy where payment is often made upon delivery, this causes problems in terms of getting access to working capital.
In this episode, Bakka and I discuss Patasente, the platform he has started to essentially crowdfund credit agreements for small businesses so that they can raise funds to take on new contracts that come in, and grow their business.
The East Africa Business Podcast: African Start ups | Investing | Entrepreneurship | Interviews
A podcast interviewing entrepreneurs and business leaders in the emerging market of East Africa. Host Sam Floy showcases companies operating across Kenya, Rwanda, Uganda, Tanzania and Ethiopia. Find conversations with companies ranging from solar power and food production to smoothies and toothpicks.