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12.10.2016 16:14:21
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DGAP-News: MyBucks S.A.
DGAP-News: MyBucks S.A.: MyBucks and Opportunity International further historic partnership
MyBucks will be retaining the Opportunity brand in the banking operations in Uganda, Mozambique, Tanzania and Kenya, with the joint organisational goal of promoting financial inclusion across the continent. In addition, the 15-year term agreement will also apply to any new countries where MyBucks has or is in the process of obtaining deposit-taking licences, with the intention of future expansion into Zambia and other potential African countries.
As in the past, Opportunity International will continue to provide funding to banks for program related financial products and services and commits to a minimum of US $30 million to further its mission to provide financial services to the unbanked. Based on the current licensed institutions, MyBucks will pay a consideration of EUR 4.75m for the license, equating to a maximum of EUR 79k per annum per bank. This amount will come down through the inclusion of further Banks down the line. MyBucks will settle the consideration through the issuance of 250,000 shares out of its authorised capital at a value of EUR 19 per share.
"Having a bank account is fundamental to ensuring financial inclusion in emerging markets," said Dave van Niekerk, CEO, MyBucks. "Our partnership not only ensures the existing operations we acquired from Opportunity International remain under the Opportunity banner, but also includes select new deposit-taking operations in our other countries as well. In addition, MyBucks, as a commercial entity, has greater access to capital and the compliance resources necessary to meet the increasing banking regulatory requirements."
Through the partnership, Opportunity International will continue to provide its clients with savings, small and micro enterprise credit, education loans, and agricultural loans, and will also incorporate the added benefits of the MyBucks technology platform, which will ensure much faster product delivery, as well as more accurate credit scoring.
"Our partnership enables MyBucks to operate the banks we helped build in Africa," said Vicki Escarra, global CEO, Opportunity International. "It also allows us to focus on providing the innovative programmes and services our clients need to access basic financial services that will ultimately help them break the cycle of poverty and improve their lives.
"Not only will we be able to provide more clients with our products and services, but we will be able to serve them in a more impactful way. As important, our 15-year agreement not only promotes financial inclusion but will double the number of clients Opportunity International serves in three years. In addition, MyBucks will continue our legacy of client centricity by obtaining SMART certification for each of the banks."
Ends
About MyBucks
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a FinTech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks, GetBanked and GetSure the company offers unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in twelve African and two European countries. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks' product offering enables customers to manage their financial affairs easily and conveniently
Discover more at: www.mybucks.com
ABOUT OPPORTUNITY INTERNATIONAL Opportunity International is a global non-profit organization that helps people in developing countries work their way out of poverty. Founded in 1971, the organization has provided more than $9 billion in loans to help clients launch and expand businesses, provide for their children and create jobs in their communities. At the end of 2015, more than 14 million clients in 24 countries across Africa, Asia, Latin America and Europe, were using an Opportunity International loan, savings account, insurance policy or training to improve their lives. The organization has set a goal of helping clients create or sustain 20 million jobs by 2020. Through our long history in developing microfinance and complementary products and services in education, agriculture and health, we've helped clients create 15.8 million jobs as of the end of 2015. More than 95 percent of Opportunity's loan clients are women who would otherwise likely not have access to financial services because of legal and cultural gender inequities in many developing countries. The global headquarters of Opportunity International are in Chicago, with other key offices in Australia, Canada, Germany, Hong Kong, Singapore, Switzerland and the United Kingdom. The organization serves clients through a network of more than 20,000 people worldwide.
Discover more at opportunity.org.
Media Contacts:
Sandy Greaves Campbell sandy@mybucks.com +2783 408 3373
Christina Koliopoulos ckoliopoulos@opportunity.org +13127182317
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12.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: MyBucks S.A. 14, rue Edward Steichen L-2540 Luxembourg Grand Duchy of Luxembourg Phone: +352 2088 2123 Fax: +27 86 537 2010 E-mail: info@mybucks.com Internet: www.mybucks.com ISIN: LU1404975507 WKN: A2AJLT Listed: Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
511175 12.10.2016
DGAP-News: MyBucks S.A. / Key word(s): Agreement
MyBucks S.A.: MyBucks and Opportunity International further historic
partnership
12.10.2016 / 16:14
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
/
Press Release
MyBucks and Opportunity International further historic partnership
Luxembourg, 12 October 2016 - As part of its partnership with Opportunity
International, MyBucks S.A. ("MyBucks"), a leading Fintech company,
announced today that it has officially concluded a relationship and
Trademark License Agreement with Opportunity International, the global non-
profit organisation, in countries where MyBucks has acquired the
Opportunity bank's operations. The Agreement provides MyBucks with the
exclusive right to use the Opportunity Bank trademark across Africa.
MyBucks will be retaining the Opportunity brand in the banking operations in Uganda, Mozambique, Tanzania and Kenya, with the joint organisational goal of promoting financial inclusion across the continent. In addition, the 15-year term agreement will also apply to any new countries where MyBucks has or is in the process of obtaining deposit-taking licences, with the intention of future expansion into Zambia and other potential African countries.
As in the past, Opportunity International will continue to provide funding to banks for program related financial products and services and commits to a minimum of US $30 million to further its mission to provide financial services to the unbanked. Based on the current licensed institutions, MyBucks will pay a consideration of EUR 4.75m for the license, equating to a maximum of EUR 79k per annum per bank. This amount will come down through the inclusion of further Banks down the line. MyBucks will settle the consideration through the issuance of 250,000 shares out of its authorised capital at a value of EUR 19 per share.
"Having a bank account is fundamental to ensuring financial inclusion in emerging markets," said Dave van Niekerk, CEO, MyBucks. "Our partnership not only ensures the existing operations we acquired from Opportunity International remain under the Opportunity banner, but also includes select new deposit-taking operations in our other countries as well. In addition, MyBucks, as a commercial entity, has greater access to capital and the compliance resources necessary to meet the increasing banking regulatory requirements."
Through the partnership, Opportunity International will continue to provide its clients with savings, small and micro enterprise credit, education loans, and agricultural loans, and will also incorporate the added benefits of the MyBucks technology platform, which will ensure much faster product delivery, as well as more accurate credit scoring.
"Our partnership enables MyBucks to operate the banks we helped build in Africa," said Vicki Escarra, global CEO, Opportunity International. "It also allows us to focus on providing the innovative programmes and services our clients need to access basic financial services that will ultimately help them break the cycle of poverty and improve their lives.
"Not only will we be able to provide more clients with our products and services, but we will be able to serve them in a more impactful way. As important, our 15-year agreement not only promotes financial inclusion but will double the number of clients Opportunity International serves in three years. In addition, MyBucks will continue our legacy of client centricity by obtaining SMART certification for each of the banks."
Ends
About MyBucks
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a FinTech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks, GetBanked and GetSure the company offers unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in twelve African and two European countries. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks' product offering enables customers to manage their financial affairs easily and conveniently
Discover more at: www.mybucks.com
ABOUT OPPORTUNITY INTERNATIONAL Opportunity International is a global non-profit organization that helps people in developing countries work their way out of poverty. Founded in 1971, the organization has provided more than $9 billion in loans to help clients launch and expand businesses, provide for their children and create jobs in their communities. At the end of 2015, more than 14 million clients in 24 countries across Africa, Asia, Latin America and Europe, were using an Opportunity International loan, savings account, insurance policy or training to improve their lives. The organization has set a goal of helping clients create or sustain 20 million jobs by 2020. Through our long history in developing microfinance and complementary products and services in education, agriculture and health, we've helped clients create 15.8 million jobs as of the end of 2015. More than 95 percent of Opportunity's loan clients are women who would otherwise likely not have access to financial services because of legal and cultural gender inequities in many developing countries. The global headquarters of Opportunity International are in Chicago, with other key offices in Australia, Canada, Germany, Hong Kong, Singapore, Switzerland and the United Kingdom. The organization serves clients through a network of more than 20,000 people worldwide.
Discover more at opportunity.org.
Media Contacts:
Sandy Greaves Campbell sandy@mybucks.com +2783 408 3373
Christina Koliopoulos ckoliopoulos@opportunity.org +13127182317
---------------------------------------------------------------------------
12.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English Company: MyBucks S.A. 14, rue Edward Steichen L-2540 Luxembourg Grand Duchy of Luxembourg Phone: +352 2088 2123 Fax: +27 86 537 2010 E-mail: info@mybucks.com Internet: www.mybucks.com ISIN: LU1404975507 WKN: A2AJLT Listed: Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
511175 12.10.2016
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