Tugende is tackling the credit gap for small businesses in Africa by enabling informal entrepreneurs to own income-generating assets and build a verifiable digital credit profile based on real-world earning. Starting with motorcycle taxi operators, Tugende uses asset finance, technology, and a customer-centric model to help these entrepreneurs increase their economic trajectory.

Tugende

Tugende have financed over 52,000 clients in both Kenya and Uganda

Tugende have financed over $50M worth of income-generating assets with loan loss rates under 1%

Proceeds from this pool are used to provide productive asset financing to motorcycle taxi drivers in East Africa. These productive assets also serve as security for these loans, derisking the loan for capital providers

Collateralized with real-world (off-chain) assets

Real-world, legally enforceable loan agreement

Monthly reporting and direct-to-borrower communications

Proceeds will be used to fund the growth of Tugende's operations in Kenya by providing asset financing to motorcycle taxi operators in the region. With over $50M worth of motorcycle taxis already financed in Uganda, Tugende is using the same technology and customer-centric model to serve operators in the Kenyan market.

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Information on deal structure, collateral used to secure this loan, and options in the case of a default on repayment by the borrower

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