Creditinfo Group, one of the leading global service providers for credit information and risk management solutions, has announced that it has acquired the operations of Experian Uganda and Namibia.
As part of the acquisition, Creditinfo has taken on all employees working in the credit bureaus, which were previously owned by Experian.
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. With more than 30 credit bureaus running today, Creditinfo is one of the companies with the most considerable global presence in the field of credit risk management.
According to a media statement released by Creditinfo, the new entity “will combine their invaluable local expertise with its own extensive experience in delivering private credit solutions to African and European nations to help millions access finance”.
“Creditinfo has a unique mix of market knowledge that it will draw on to complement the work of the strong management teams already in place in Namibia and Uganda. Its experience working with more traditional lending markets in Europe combined with its knowledge of the different trends in lending markets in sub-Saharan Africa – such as the drive-in mobile wallet use in Kenya – will help both Namibia’s and Uganda’s credit bureaus go from strength to strength,” Creditinfo said in a media statement.
“Coupling this experience with its advanced software and analytics products, Creditinfo will deliver its world-leading credit bureau solutions to help the two bureaus facilitate access to finance for both individuals, SMEs, and corporates in the regions, whatever their social and economic needs,” the Group added.
Paul Randall, the CEO at Creditinfo added in the statement that his company was “committed to sustainably growing our business and identifying ideal opportunities to add strong and profitable credit bureaus to the Creditinfo Group while helping more local citizens and businesses access finance”.
“Uganda and Namibia are ideal partners for us in this respect and all our new employees are a credit to the Creditinfo name. As the leading credit bureau provider in Africa, we eagerly look forward to working together to provide the best service possible in each country,” he said.
Commenting on the development, Mark Charles Mwanje, the Uganda Country Manager, said: “We are delighted to join the Creditinfo Group. We believe their years of expertise and knowledge will be a great asset to our existing team of dedicated and talented employees. We look forward to joining forces to help the local people and our growing economy.”
On his part, Karin Jansen van Vuuren, the Country Manager of Namibia said: “Working with Creditinfo provides us the chance to tap into new opportunities for further growth. The company’s in-depth experience will be instrumental in helping banks and other lenders to extend credit, while ensuring we’re still a private credit bureau run by local people for local people, with all their best interests at heart”.
There are three licensed credit reference bureaus in Uganda, namely Creditinfo, Metropol and GnuGrid.