Select’s vision is to focus on servicing the un-banked or entry level retail credit market which is often overlooked by the formal banking sector as the clients are deemed too small or too risky. Select provides products, includes housing loans, home improvement credit for housing related projects e.g. Water and Solar, education loans, and retail consumer credit and insurance.
Select Africa’s typical client is employed, yet unable to easily access personal or housing finance through traditional banking channels due to banks aversion to perceived higher risk clients and the inability to mortgage (or attach) properties as security across many countries in Africa. The Company’s primary client base tends strongly towards public sector employees, typically being the largest and most stable formally employee base in markets across Africa. Loan repayments are deducted via payroll (at source), providing for more consistent collections.