Metier Capital Growth Fund III has partnered with Watu Group to enhance access to financial services for underserved communities in East Africa.

Information on the Target

Metier Capital Growth Fund III has formed a strategic partnership with Watu Group, a prominent non-deposit-taking microfinance institution (MFI) operating in East Africa. Founded in 2015, Watu has established itself as a leader in the region, particularly in Kenya, Uganda, and Tanzania. The organization is also expanding its operations into Rwanda, Sierra Leone, the Democratic Republic of Congo, Nigeria, and South Africa. Watu's primary objective is to enhance employment and economic prospects for individuals who face significant challenges in accessing traditional financial services.

Watu specializes in financing income-generating assets, focusing on mobility solutions such as two- and three-wheeler internal combustion engine and electric vehicles, as well as connectivity assets like smartphones. Currently, the company employs over 2,800 individuals and serves more than 1.4 million active clients across the region, further solidifying its impact on underserved communities.

Industry Overview in the Target's Specific Country

The microfinance sector is experiencing rapid growth across Sub-Saharan Africa, driven by an increasing demand for financial services among unbanked and underbanked populations. As traditional banks often overlook these segments, microfinance institutions like Watu play