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Former chair of the UK Competition & Markets Authority Joins 4G Capital as Non-Executive Director



Lord Currie

Lord David Currie, former chairman of the UK Competition and Markets Authority and current chair of the UK’s Advertising Standards Authority, has been appointed as Non-Executive Director for 4G Capital, with effect from 31 March.

As a long standing government economic advisor and an advocate of equitable free markets, Lord Currie is expected to drive 4G Capital’s increasing footprint across Africa and development of further financial products and services that support inclusion and help catalyse enterprise growth in Africa.

According to 4G Capital Chairman, Wayne Hennessy-Barrett in a statement, “We are immensely privileged to have Lord Currie on our team as we move to our next phase of development.  It is now vital for us to expand into more areas of need where we can help micro-enterprises transition from an informal to a formal footing.  We are clear on the need to work with partners in government, central banks and other service providers to deliver the right working capital solutions across Africa.”

4G Capital has supported the sustainable growth of micro-enterprises in Africa since 2013 by providing financial literacy training blended with working capital credit.  4G Capital seeks to address the MSME finance gap in Africa which critically stands at $331bn.  MSMEs across Africa contribute to over 50% of combined GDP and more than 80% of employment.

In 2018, 4G Capital’s new operations went live in Uganda and Ghana.  There are now 72 branches across Kenya and Uganda.  In Kenya over $21m was disbursed over the course of the year.  By using its proprietorial artificial intelligence and mobile money technology, 4G Capital delivers loans, primarily for rapid-cycling retailers. 4G Capital is estimated to continue its 100% year on year growth record in 2019 while moving into other financial services for its target markets.

Lord Currie said, “I am delighted to join this remarkable company which is poised to build on very solid foundations to do great things.  Poverty alleviation is a global issue, and one best addressed by empowering small businesses to provide opportunities for the communities they serve.”

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