MicroKing to rebrand

Tinashe Makichi Business Reporter
MicroKing Finance (Pvt) Limited is expected to undergo a comprehensive turnaround and re-branding strategy to align its operations with those of the new shareholders, Microcred Group’s network.

Microcred Group together

with AfricInvest Financial Sector Fund recently reached an agreement

to acquire full ownership of MicroKing. The closing of the transaction is now subject to final regulatory approval.

“We are extremely excited about this development, and we strongly believe it will usher in a new era

in our quest to be the leader in providing financial services and products to the informal markets in

Zimbabwe.

“We are convinced that the latent potential that has always been in MicroKing will be unlocked to the benefit of our clients and various partners” said MicroKing acting managing Director Lloyd Borerwe.

“MicroKing is expected to undergo a comprehensive turnaround and re-branding strategy to align its operations with those of Microcred Group’s network.”

MicroKing’s mandate will remain unchanged and the new shareholders are set to provide multi-faceted support to MicroKing, to ensure long-term growth and competitiveness of the institution.

“We are very excited to add MicroKing to our network and we have faith in the talent of our staff to support the ambitious growth and development of Microcred in Zimbabwe” said Microcred group’s chief executive Arnaud Ventura.

Microcred’s operations span across eight countries in Africa and Asia

and AfricInvest is one of the leading Africa private equity firms with close to $1 billion of assets under management.

“AfricInvest is proud to partner with one of the leading providers of financial services on the continent and to further strengthen its footprint in Zimbabwe.

“AfricInvest will provide support in the transformation to bring MicroKing back to its position of a leading provider of financial services to entrepreneurs and to make it a catalyst for further financial inclusion in the country,” said AfricInvest senior manager Julius Tichelaar.