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Bayport plans fully digital African loans by early 2023, CEO says

By David Whitehouse
Posted on Wednesday, 25 August 2021 11:31

South African government employees such as the police are part of Bayport's payroll loans market. REUTERS/Siphiwe Sibeko

African credit provider Bayport Management aims to fully digitalise its operations by early in 2023, CEO Chris Newson tells The Africa Report.

Bayport, whose shares trade on the Mauritius stock exchange, offers payroll-based loans primarily to local and national government employees. “We are very rapidly moving down the digital route” and the process will be completed in all markets in the next 18 months, Newson says in Johannesburg.

  • Operations in Tanzania are already fully digital, while the process is being rolled out in Mozambique and Botswana, he says.
  • Fully digital mid- and back-office operations will improve efficiency and reduce turnaround times, he adds.