MyCredit Limited

MyCredit Limited, based in Kenya, specializes in providing financial solutions through loans and insurance services, catering to both individual and business needs in a rapidly evolving market. MyCredit Limited is a non-bank financial services provider that commenced operations in 2016, headquartered in Nairobi, Kenya. The company's focus is on delivering tailored financing options to clients, with a notable pivot towards supporting educational institutions. The firm has completed a significant funding round where BlueOrchard Finance and Oikocredit invested KES 1.

4 billion on April 15, 2025, marking a milestone in its growth strategy. The company was founded by individuals with experience in financial services, enhancing its operational expertise. MyCredit Ltd is a non-bank financial service company that specializes in providing various loan and insurance products tailored to meet the diverse needs of both individual and business clients. The company's core offerings include business loans, civil servant loans, educational loans such as the Kuza Elimu Loan, asset finance, and insurance services.

These products aim to facilitate financial support for businesses and educational institutions, enhancing their operational capabilities and growth potential. The Kuza Elimu initiative, specifically designed to empower educational institutions, represents a significant aspect of their product lineup, allowing schools to acquire necessary resources like vehicles or infrastructure with favorable financing terms. MyCredit Ltd primarily serves clients in Kenya, with an emphasis on supporting sectors such as education and small to medium-sized enterprises (SMEs) seeking growth opportunities and financial stability. MyCredit Ltd generates revenue primarily through interest income on loans provided to its clients.

The company engages in transactions structured as B2B and direct-to-consumer, with clients typically approaching MyCredit for financing solutions to meet specific needs, such as business expansion or educational investment. Schools, for example, may seek a Kuza Elimu Loan to finance the purchase of new buses, leading to loan agreements with clearly defined repayment terms and interest rates. In addition to loan interest, MyCredit Ltd profits from insurance service premiums, contributing to its overall revenue generation. Specific pricing plans are established as part of loan agreements and insurance policies, ensuring transparency in transactions.

MyCredit Limited plans to leverage the recent investment of KES 1. 4 billion from BlueOrchard Finance and Oikocredit to enhance its offerings, focusing on developing tailored financing solutions specifically for private schools in Kenya. This strategic initiative is expected to roll out by mid-2025, aiming to address the unique needs of the educational sector. The funding will facilitate the expansion of their product line and enhance their capacity to serve clients effectively.