Finclusion Group rebrands its subsidiary in Kenya to become TrustGro
01 June 2021
Finclusion Group is happy to announce that after the successful rebranding of its South African lending businesses, it has now completed the rebranding from GetBucks Kenya to TrustGro. Finclusion Group anticipates to finalize the rebranding in eSwatini during 2021 – which will conclude the successful turnaround of the distressed assets acquired from the MyBucks Group in 2019.
TrustGro’s mission is to help enhance the quality of life of its customers through simple, convenient, and appropriate financial services.
Today – TrustGro holds a strong footprint in Kenya with more than 7000 clients contributing to its book holding over USD7million in customer loans. TrustGro aims to grow its customer base by building robust, integrated, enabling technology to deliver personalised and easily accessible financial services. TrustGro will continue to utilize credit scoring services and risk management services from Finclusion Group’s associate Fractal Labs to deliver maximum value to its customers.
Kenya has a population of around 54 million people. 41% of the population have an active bank account, however, with the advent of mobile money, 83% have access to financial servoces. The possibility of reaching new customers through technology is evident. “Mobile subscriptions in Kenya is currently at 109%, one of the highest in Africa, proving digital and mobile banking is the obvious path to reach the underbanked in emerging African markets,” says Tonderai Mutevsa, CEO of TrustGro. Tonderai Mutesva is a seasoned banker, who took control of GetBucks Kenya together with Finclusion Group in 2019.
TrustGro’s vision is to create an ecosystem where people and organizations can access financial solutions that help them meet their desired objectives.
“Our customers should easily find us at their point of need. It should not be difficult to access any of our products or services or those of our partners. We endeavour to make all our customers feel that our solutions are designed for them as an individual. We do not want customers to fit into a set of pre-defined products and services, but to develop solutions that are customized to yield the best possible value for them.”
Timothy Nuy, Founder & CEO of Finclusion Group, comments “This is an important milestone for our Kenyan operation, leaving the legacy items behind and creating a foundation for an exciting future. We believe we will be able to announce a number of exciting partnerships and growth avenues, to further accelerate our Eastern-African growth in the near term.”
Matsi Modise, Chairwoman of Finclusion Group, adds “We can only congratulate Tonderai on the turnaround achieved in the Kenyan operation since relocating to Kenya early 2020. We wish TrustGro, its staff and its customers all the best for the future.”
For more information on the rebrand please visit the TrustGro website: www.trustgro.com
About Finclusion: Finclusion Group is enhancing financial inclusion in Africa by building transformative financial technology services focused on high-growth market segments, providing world-class customer experiences. Our businesses leverage our credit, risk and technology expertise to grant financial services safely and easily using advanced, proprietary AI algorithms. Our current key focus areas are financial wellness, credit scoring and direct lending, operating through the brands Fractal Labs, smartadvance, niftycredit, niftycover, TrustGro and Click2Pay in South Africa, Eswatini, Kenya, Namibia and Tanzania. More info on www.finclusiongroup.com.