Microcred, the leading digital financial inclusion group operating across Africa and in China,
today unveiled its new group-wide brand, Baobab.
Twelve years after its foundation, the company has refreshed its brand and visual identity to reflect the expansion of the product range beyond the provision of credit to micro-entrepreneurs. The company, which now reaches over 650,000 customers across ten markets, has evolved significantly and now provides a wider service offering which addresses a broader range of customers.
The launch comes at a time when the business has developed an ambitious and far reaching strategy to digitalise and grow the business throughout its existing footprint. The company recently nominated Arnold Ekpe, one of the most well-known leaders in African banking, as Chairman of its Supervisory Board.
Commenting on the rebrand, CEO Arnaud Ventura said: “We’ve come a long way since we started
over a decade ago, and have built a solid foundation on which we plan to transform to become one of Africa’s most exciting multi-channel financial services businesses. Our decision to evolve our brand to Baobab, a simple recognisable brand for all our customers, is just the start. We have a strong relationship and deep understanding of our customers, and we aim to build on that to help our customers unleash their potential wherever they are and however they access finance.”
The Baobab brand was initially introduced as a secondary brand in 2014 and is already being used for some products and distribution channels. From 20th of December 2017 Baobab will become the company’s primary brand. Initially being introduced in Paris, a full roll out of the brand in all of Microcred’s markets will take place across all channels through 2018.
The company is focused on ensuring a smooth and gradual transition from the Microcred to Baobab brand for both customers and employees, and will undertake a separate launch in each of its ten markets. At the heart of the roll-out is a world class communications programme designed to introduce the brand and educate customers, partners and the broader public in each market.
The new brand, a simple and recognisable name, is inspired by the Baobab tree, native to Africa,
which not only has great cultural significance but also has many practical uses. The Baobab tree’s strength, presence across Africa, and place at the heart of many local communities are all attributes which resonate with the company’s own values. While adopting a new brand name, the company will retain its striking ‘rubine red’ colour scheme, which is immediately recognisable and fits well with the company’s modern approach and product offering.
Microcred Public Relations