BAOBAB’S FINANCIAL SERVICES
Microcredit, fast loans, savings and more for entrepreneurs and SMEs
BAOBAB’S FINANCIAL SERVICES
Microcredit, fast loans, savings and more for entrepreneurs and SMEs
In countries where the job market is extremely tight, starting a business offers a potential way out of unemployment. However, the vast majority of microenterprises and SMEs have little or no access to financing. As a financial service provider, we play a key role in helping these entrepreneurs unleash their potential, and we do it through simple, accessible and reliable services.
Asia
Europe
LOANS
BAOBAB LOANS
Our loans are open to microenterprises and small businesses looking for microloans (under €3,000) to be repaid over less than 12 months, and to SMEs who require larger loans (up to €300,000) over longer terms (up to 60 months), to finance major investment projects.
Because dealing with the unexpected or seizing a new business opportunity sometimes just can’t wait, the TAKA Loan is an instantly available digital nano-credit. It is open to customers identified as eligible by a scoring algorithm.
Baobab’s preferred customers benefit from a fast and simplified credit renewal procedure. Thanks to an automated credit scoring analysis performed through our credit scoring algorithm the credit is approved in a few hours instead of several days.
SAVINGS
We offer a range of savings accounts with available balance, various savings plans, and a range of term deposits with attractive returns. Our savings accounts are open to all our clients whether they are individuals or businesses.
PAYMENTS
Through local partnerships, we offer an adapted range of payment options in each country where we operate, such as electronic and interbank transfers, payment cards, checks, payment vouchers, and electronic bill payment.
INSURANCE
All Baobab loans are covered by a mandatory insurance policy. In the event of death or permanent disability, the insurance covers the entire amount still owed, thus protecting the borrowers and their family.
BAOBAB BRANCHES, PARTNERING LOCATIONS & DEDICATED PARTNERS
Proximity is one of Baobab’s core values: Financial inclusion starts with making services accessible to all entrepreneurs, even those who live outside of main urban areas. We have developed a full network of Baobab branches in key locations, and service points in areas that are not covered by a Baobab Branch.
Baobab Branches
Baobab branches are located close to the people they serve or can be easily reached by public transportation. In addition to welcoming customers, they serve as a base office for Portfolio Managers and provide back office support to field staff and Baobab Points.
Partnering locations: Baobab Points
Baobab Points are part of a network of partnering locations where Baobab customers can carry out transactions such as cash deposits and withdrawals, loan installments, and account transfers. A biometric device directly connected to Baobab’s system ensures complete security and confidentiality.
Dedicated Baobab Points
Dedicated Baobab Points are branded outposts managed by trained partners; usually young entrepreneurs recruited by Baobab’s branch staff. These outposts are located in semi-rural areas at least 3 km from a Baobab branch. They offer services such as account opening, account balance, deposits, cash withdrawals, credit applications, payments, money transfers or nano-loan applications.
BAOBAB MOBILE SERVICES
We expect as much as three quarters of African households to be connected to the Internet via mobile technologies in the near future. As a major player in digital financial inclusion, we have developed mobile services making micro financing even more accessible.
We also promote digital inclusion by offering innovative products with financing solutions that meet the needs of local populations.
THE BAOBAB MOBILE BANKING APPLICATION
THE MOBILE FIELD AGENT APPLICATION
Where there are no Baobab branches or points, we have field agents equipped with an in-house application enabling them to open new customers accounts on the street in just 5 minutes.
The Baobab agent enters the customers’ ID card information and their fingerprints through a biometric device connected to the application. The collected information is then sent to the branch, verified and the opening of the account is confirmed.
A credit application, Baobab-To-Loan, is also available for Portfolio Managers to fill out a credit application directly on their smartphone.
BAOBAB+, ELECTRIFYING AND DIGITALIZING RURAL AFRICA
Baobab+ is a social business, subsidiary of the Baobab Group, committed to spreading access to energy and digital technology in rural Africa.
Through Baobab Branches, Baobab+ sells solar kits or provides them on a modular pay-as-you-go offer. With the PAYG system, people or businesses who have no access to the banking system build a credit history opening access to the Baobab loans.
Baobab+ is also equipping thousands of households with tablets containing content that creates social impact.