2 weeks Ago By Lauren Hinton
September 19 2024 African neobank 4G Capital has appointed Julian Mitchell as CEO, with effect from Monday 16 September 2024. Founder Wayne Hennessy-Barrett will transition to the role of Executive Chairman. Kenya-based Julian will work alongside Wayne and the international 4G Capital management board to drive the ongoing expansion of the business in East Africa and beyond.
4G Capital plays an increasingly pivotal role in fostering the growth of micro and small businesses across Kenya and Uganda, having approved over four million loans and disbursed USD $552 million to date. Julian brings a wealth of experience, having previously served as CEO of agri-business InspiraFarms and Managing Director for African asset finance platform M-Kopa in Uganda. His tenure in these roles was marked by significant commercial growth, successful product launches, the pursuit of operational excellence, and substantial capital raises.
Founder Wayne Hennessy-Barrett will continue to support 4G Capital’s success as Executive Chairman. He will retain responsibility for overall strategy, partnerships, capitalisation, advocacy and stakeholder engagement. Wayne will also support the company as it continues to sustainably scale, while also maintaining its commitment to customer protection and financial inclusion.
Since its founding in 2013, the company has grown to 1,200 employees, operating across a network of 192 branches. Its capital-efficient model has loaned over half a billion USD between 2016 and 2024 at a significantly higher lending-to-capital ratio than the microfinance industry average. From inception it has prioritised its customers and partners, with responsible lending practices and the provision of business management and financial competency training to its customers.
4G Capital’s customers see an average 82% annual revenue growth, contributing to the company’s status as Africa’s highest-scoring B Corp. With 69% female clientele, 4G Capital has trained 433,000 customers and benefited 550,000 businesses, driving inclusive economic growth across its markets. Julian says “I am delighted to join 4G Capital, a company that has made such a profound impact on the growth and success of micro and small enterprises across Kenya and Uganda.
4G Capital’s unique approach, combining rapid decision-making, innovative touch-tech channels, and a strong focus on customer protection and training has positioned it as a leader in financial inclusion. I am incredibly proud to be part of this mission and look forward to helping even more businesses thrive by providing the right capital and knowledge.” Founder Wayne Hennessy-Barrett says: “We are extremely lucky to have Julian join us at this exciting year, when we are exceeding our operational, financing and transformation targets.
This is a planned evolution on our journey from start-up to scale-up, and we’re committed to the best practice of separating CEO and Chair roles. We have a vision to democratise wealth creation and supercharge small business growth from the ground up. 11 years in, we’re just getting started!” Julian Mitchell 4G Capital Wayne Hennessy-Barrett 4G Capital 4G Capital Crypto Insurtech Fintech Fintech Fintech.
