Two years ago I learned about MYC4.com, the Danish company that provides a marketplace for microcredit loans to small businesses in African countries. I uploaded some money back then, and participated in seventeen loans in four countries during my first year, and, while having lost a seventh of my investment in one defaulted loan and being conflicted about the real social value of the whole system, doubled down for the second year.

In the second year, I engaged in twenty-two new loans to stationary stores, glass retailers, bakeries, beauty parlors, mobile traders, mens' clothing shops, farmers, grocers, paint shops, truck drivers, real estate developers, mobile phone stores, import businesses, traditional financial intermediaries, and health centres in Kenya, Rwanda, Tanzania, Uganda and for the first time Ghana. There have been no more defaults, all of the remaining loans from the first year have now been repaid in full, except for a single two-year loan, and that is on track, too, as are most of the new loans (four of them are lagging a bit).

Financially, there has been a 10% return on investment. Interestingly, while currency exchanges losses put me into the red last year, this year I have actually gained money this way, because the Euro has lost value against the Ugandan shilling and the Rwandan franc.

I am going to double my investment for next year again (probably for the last time, because you cannot keep up a geometric progression forever without reaching rather serious amounts).