Posted on February 20th, 2010 by Cobus
The Bayport approach to business is unique and we call it “The Bayport Way”. The Bayport Way holds that individuals will empower themselves and grasp hold of their futures and potential when they have access to credit. Bayport Financial Services’ far-reaching and multi-faceted distribution network bears testimony to our efforts of reaching our clients where they are.
The Bayport approach also embraces logistical obstacles and at Bayport Financial Services, we understand that. Therefore, we have mobile units that travel far into the countryside to visit farmers and teachers and offer them our financial products. This approach has made Bayport a leading unsecured credit provider in South Africa, Ghana, Tanzania, Uganda and Zambia.
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Posted on February 19th, 2010 by Cobus
The Bayport business strategy has proven to be extraordinarily successful in Africa and differs considerably from that of other financial services companies. Africa is a difficult market to crack because it is a relatively immature financial market; this has meant that Bayport Financial Services has had to put in place extensive risk mitigation measures.
Bayport business has been successful in Africa and we are now active in Tanzania, South Africa, Ghana, Tanzania and Uganda. In many of these countries, we are the largest provider of unsecured credit. Bayport Financial Services endeavours to integrate our collection arm with our local stakeholders, thereby minimising bad debts and improving credit quality.
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Posted on February 18th, 2010 by Cobus
Bayport risk mitigation measures have proven very successful in Africa. The African financial market is relatively immature and a unique approach was called for, if its considerable potential were to be realised. Bayport Financial Services had realised this from the outset and our unique approach, called “The Bayport Way”, has resulted in success where other financial services companies have failed.
There are numerous Bayport risk mitigation measures and our collection arm is also our local partners, like employers and trade unions, who deduct owed monies from employees’ wages and forward it to Bayport, ensuring high credit quality and very low bad debts.
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Posted on February 16th, 2010 by Cobus
The local Bayport stakeholders in the countries where we are active have been key to Bayport Financial Services’ success. Through these partnerships, we have gained and intimate understanding of local communities, enabling us to design financial products tailored to meet our clients’ needs.
These local Bayport stakeholders are normally local employers, government institutions, trade unions and employers. Through their inputs, we are able to tailor-make our products for the Africans we serve. They also act as our collecting arm, forwarding due debts to Bayport, after deducting these from employees’ wages. This has ensured that Bayport Financial Services has been able to maintain high credit quality and low unrecoverable debts.
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Posted on February 15th, 2010 by Cobus
The Bayport philosophy holds that individuals will improve their lives and take hold of their futures through the access to unsecured credit. Bayport Financial Services has always endeavoured to gain an intimate understanding of its target market and design products that suit its clients.
The Bayport philosophy extends further to establish close partnerships with local trade unions, employers and industry in order to learn how local customs work and what locals’ attitudes are towards credit. Bayport Financial Services has been active and very successful in Ghana, Tanzania, Zambia, South Africa and Uganda. Our philosophy is called “The Bayport Way”, which has been the only truly successful unsecured credit business model in Africa.
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