Who owns Watu Credit? Type of loan they give; requirements for Watu loan.

Watu Credit is a financial institution that is aimed at empowering young Men in business. The company was founded by Andrus Kaneps who is a Latvian National according to his LinkedIn profile as reported.

By default Mr Kaneps serves as the company’s chief executive officer.

The company was established in the year 2015 in Mombasa in 2015.

Andris Kaneps is the Founder and by default the Director of Watu Credit, a fast-growing non-banking, finance company headquartered in Mombasa.

Mr Andris has more than 8 years’ trading experience in financial markets and is an avid investor in early fintech startups.

Prior to founding Watu Credit, Andris was the founding partner of MTG Group, a Cayman which is an fund and asset management company.

Andris is a lawyer by profession, who initially worked with Liepa, Skopina /Borenius in Latvia.

He holds a Master’s Degree in Law from the University of Latvia.

Education Background:

Andris Kaneps studied law at the university of Latvia, which is based in Europe.

What Watu does:

Watu offers asset financing to meaningfully improve employment and opportunities for those with the greatest barriers to access financial services.The company also boasts of employing over 3000 people.

Types of Loan at Watu:

1. Watu Credit mortobike loan. The company gives loan to youth who want to venture in transport sector through Watu Credit Mortobike loans. The loan is then repaid daily based on the agreement.
2. Watu Tuktuk loan: This loan is given to individuals who want to venture into small scale transport sector.
3. Smartphone: The loan is given to an individual who want to own a smart phone but facing financial constraints. The payment is made daily at an agreed rate.

Requirements for Watu loan:

To be eligible for a loan, you need to have in your possession;

1. Original National ID (borrower & at least one guarantor)
2. A KRA PIN Certificate and a minimum deposit of Kshs 20,000 for motorbike or Kshs 50,000 for Tuk tuk.
3. Repayment period of up to 24 months.
4. One guarantor aged 20 to 65 years old.
5. Two referees
6. A registered Safaricom phone number for M-Pesa and which has been in use for the last 6 months

Click here to Apply