What's the problem with Watu credit?

Petra Christina Zaagman

• 5. März 2022 16:20

As the title said. The majority of my Watu loans are late. Is there an issue with Watu Credit?

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  balv

  • 8. März 2022 10:37

  Same case here.. waiting for feedback from Mintos.

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  Petra Christina Zaagman

  • 8. März 2022 17:19

  I contacted Watu Uganda directly and received the following response from their chief financial officer:

  "Thanks for the email. 

  About 50% of our loans are "current" - and about 50% are in some form of arrears, of which the significant majority are still making repayments towards (albeit they are slightly behind timing-wise or making payments slightly less than what is "due"). 

  Watu Uganda does have a buy-back guarantee in place so the investor is protected against individual loan defaults. 

  The situation with Watu Uganda is healthy and there are no major problems. 

  I hope this helps clarify and provide some comfort. "

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  balv

  • 9. März 2022 09:51

  Thank you Petra Christina Zaagman for the update.

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