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Verdant Capital, a specialist corporate finance firm, has announced that its Verdant Capital Hybrid Fund has made its first investment, in Watu Credit Uganda Limited. The investment will help Watu expand its footprint of two-wheeler financing throughout the country.
Watu’s operations are backed by the strong use of technology, including automated processes, GPS tracking tools for the motorbikes, and the exclusive use of digital payments via mobile money wallets. Its business model provides an affordable route for riders to attain financial stability, the ability to participate in the economy, and, the first opportunity to have tangible wealth in the form of ownership of a motorbike.