We are pleased to share this news digest from our Member Finclub, who we congratulate for all the achievements over the year and look forward to seeing many more over 2025.

Empowering Borrowers and Lenders

This year, FinClub.mu strengthened its position as a leader in P2P lending. With 8,668 loan applications worth a total of MUR 926 million, the platform facilitated 1,077 loans valued at
MUR 115.6 million. Meanwhile, our vibrant community of over 754 lenders collectively
earned MUR 5.7 million in interest, showcasing the win-win nature of our ecosystem. 2024
was an eventful year for FinClub with the development and introduction of major innovative products & services that would disrupt the financial services landscape.

Simple & Affordable Financing for SMEs – Now a reality with FinClub

FinClub launched its SME Loan in April 2024, providing businesses with access to quick and
tailored financing. MUR 21.9 million has been disbursed as at 30 November 2024, empowering them to grow, innovate, and manage their operations with ease. This initiative directly addressed the financing gap previously faced by small businesses, and aligns with FinClub’s mission to promote financial inclusion and economic empowerment across segments.

FinBot – The first multi-lingual chatbot was launched by FinClub

One of the standout moments of the year was the launch of FinBot, Mauritius’s first
multilingual AI chatbot, supported by the MRIC Innovation Boost Grant. Available in Kreol
Morisien, French, and English, FinBot provided 24/7 assistance to customers, allowing users
to overcome language barriers and providing a seamless user experience. This innovative
step transformed the way FinClub engages with its community, offering faster, more
personalized support than ever before.

Expanding Horizons with Institutional Lending

This year marked an exciting milestone for FinClub with the launch of our Institutional
Lending Offering. Designed to diversify investment opportunities for institutions of all sizes, this initiative aligns perfectly with our commitment to sustainable growth and innovation. The action catered to organisations seeking alternative investment solutions, aligning with their environmental and social values. Institutions that participated reaped the benefits of high-yield returns alongside 80% tax exemptions on interest earned, making it an attractive financial proposition. Beyond profitability, the program enabled lenders to play an active role in driving socio-economic growth by supporting individuals and SMEs across Mauritius.

Review of interest rates

Following the Bank of Mauritrius’ announcement to review the Key Rate in September, FinClub was the first financial institution to review its interest rates by 1% despite not being linked to the Key rate. In the current financial climate, access to affordable loans is essential for personal and business growth. At FinClub, we recognise the challenges faced by borrowers, particularly in the face of rising living costs. That’s why we’re pleased to announce a 1% interest rate reduction on all new personal and SME loans.

Review of loan limits to cater to different needs

As a customer centric organisation, in October, the loan limits for both individuals and SMEs
was respectively reviewed. This adjustment aims to provide more substantial financial
support to individuals and small businesses looking to achieve their goals.

National Recognition and Collaboration

The Ex Minister of Financial Services and Good Governance, Mr Soomilduth Bholah, effected a visit, on 20 May 2024 in Ebène, at FinClub. The aim of the visit was to promote the services of FinClub, its role in enhancing access to finance for Small and Medium Enterprises (SMEs), and the role of peer to peer lending & FinTechs in revolutionising financial inclusion in Mauritius.

FinClub Partnered with MauRevive for a Cleaner Port Louis

On December 1, 2024, FinClub proudly partnered with MauRevive to sponsor the Mega Clean-Up Day in Port Louis. The event brought together over 100 dedicated young
volunteers who worked tirelessly to collect 110 bags of garbage from four key zones, making
a tangible impact on the capital’s cleanliness and environment Supporting this meaningful initiative reflects FinClub’s deep commitment to the well-being of our community and the environment we all share. Together, we are fostering a brighter, cleaner future and building a city we can all take pride in.

Looking Back, Moving Forward

The year 2024 was filled with milestones that pushed the boundaries of innovation and
financial inclusion for FinClub. From empowering SMEs and investors to pioneering new technologies, FinClub continues to reshape the financial landscape of Mauritius. As we close the year, we look ahead with ambition and a relentless drive to deliver more impactful solutions for all.