Fortune Credit

Fortune Credit

Cég

Kenya

Ország

A projekt

As farmer Mary lives in a remote and rural area, she faced a commonly known challenge in Kenya: isolation and limited access to resources. Both hindered timely planting seeds on her farm land, with no or little harvest as a result and causing poverty for her family and the community. Fortune Credit brought change, transforming farmers into optimistic entrepreneurs. This is crucial, since over 8.9 million Kenyans live in extreme poverty, most of whom are located in rural areas. Together with Fortune Credit, farmers focus on quality, preventing soil erosion, and fostering stability. Mary's farm started to flourish, promising a steady income and a brighter future.
 

What social return could your investment generate? 

The 200,000 euro loan from the Lendahand crowd is set to ignite a profound social impact in Kenya. Approximately 265 rural entrepreneurs, with 65% being women, will gain access to financing, making it possible for them to turn the tide in their lives and communities. 

The investment also unlocks opportunities for a greener and healthier future for 40 youths who will become owners of electric motorbikes, creating 40 jobs as boda boda drivers (Kenyan taxi/delivery service). By switching to electric motorbikes, carbon emissions can be reduced, aiding in the fight against climate change.

Moreover, Fortune Credit's Clean Cooking Program offers credit for biogas solutions to rural households, promoting better health and conserving Kenya's environment by reducing the demand for firewood. Through this investment, around 120 households will embrace the clean cooking solutions by installing bio-digesters.

Altogether, Fortune Credit's activities contribute to increased food production, reduced carbon emissions, and a stronger economic system for Kenyan MSMEs. Invest in Fortune Credit for sustainable progress, empowering communities, and fostering a brighter, thriving Kenya.

What financial return could your investment generate? 

• Annual interest rate of 7%
• The maturity of the loan is 24 months
• There will be a repayment of your investment every 6 months
• With an investment of 1,000 euros, your expected repayment would be 1,088 euros
• Please consider that you are investing in dollar (USD), so there is a risk of exchange rate fluctuations between dollar and euros. For more information on potential exchange rate risks, please visit our currency page

The story of Fortune Credit

Fortune Credit Limited, established in 2014, is on a mission to catalyze economic empowerment among Kenya's rural population. Their range of savings, credit, and insurance services currently supports over 15,000 clients across 10 counties, with a loan portfolio of USD 3 million. Their commitment lies in investing in strenghtening those at the bottom of the pyramid in society to alleviate poverty.

The solutions Fortune Credit offers, are designed to accelerate access to innovative financial products and services. As a social enterprise, they are focused on sustaining livelihoods, empowering individuals to thrive, and fostering positive change for a brighter future. Recognizing the unique challenges faced by MSMEs in navigating traditional financing and rigid models, Fortune Credit seeks to address market gaps and develop semi-formal industries. Their ultimate goal is to be a steadfast advocate for the social-economic and ecological prosperity of the people of Africa.

Fortune Credit in numbers

• Founded in 2014
• 45 employees
• 15,000 clients 
• 65% female borrowers
• Loan portfolio of USD 3 million