Lilian Perea (above photo), CEO of Bayport Colombia, stated, “Partnering with Cerberus underscores our commitment to financial inclusion in Colombia, as well as our financial strength and operational excellence. We remain dedicated to contributing to the socio-economic development of the country.”

Rob Milam, Managing Director at Cerberus, added, “We are pleased to continue providing innovative credit solutions to Bayport Colombia as they expand in the Colombian payroll loan market. This investment extends the partnership we began with Bayport in 2019.”

A subsidiary of South Africa based Bayport, the company has been operating in Colombia since 2011 and claims to have more than 68,000 payroll loan customers among its market focus of public employees and pensioners. In Colombia the company has a 1.1 trillion-peso loan portfolio and operates 17 offices across 15 cities. Globally, Bayport says it serves half a million borrowers in México, Colombia, Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda and Zambia.

Bayport Colombia currently claims leadership of Colombia’s non-bank payroll lending market in Colombia with 30% market share. Called Libranzas, the loans are offered through employers and paid off through payroll deductions.

” Bayport has set high standards in terms of corporate governance, policies and procedures in the origination of payroll loans and best practices in the selection of payers and collections. With a significant growth in the recent years, our initiatives promote financial well-being, generating greater entrepreneurial opportunities in the country.  We are excited that this transaction with Nomura will allow us to continue with our mission,” says Lilian Perea (above), CEO of Bayport Colombia.

“Despite the economic outlook for 2023, we will remain faithful to our higher purpose of improving the living conditions and development opportunities of Colombians through payroll loans. We have always been very optimistic, and we hope to continue opening doors to new and better possibilities.”

A subsidiary of South Africa based Bayport, the company has been operating in Colombia since 2011 and claims to have more than 68,000 payroll loan customers among its market focus of public employees and pensioners. In Colombia the company has a 1.1 trillion-peso loan portfolio and operates 17 offices across 15 cities. Globally, Bayport says it serves half a million borrowers in México, Colombia, Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda and Zambia.

Established in 1991, the annual pageant claims the mission of promoting host country tourism. This year, representatives from 40 countries participated.

Hazel Daniela Zúñiga was born in Quindió and grew up in Bogotá, where she started modeling at the age of 13. She was named Miss Teen Quindió and Miss Teen Universe, representing Colombia in 2012 in Guatemala, then Miss Planet Colombia in Uganda.

Zúñiga graduated magna laude from the Sergio Arboleda University, where she studied marketing and international business.

“I am very happy to leave the name of our country high, the country where I was born today is much stronger. As a representative of Colombia I was able to tell the world  that Colombia is a country full of positive and relevant facts, I was able to show that we are millions of Colombians who leave the name of our country high, representing our talent and carrying the baton of joy around the planet. Today I feel much more proud of my country and of all Colombians who are characterized by joy and also resilience, who are  willing to achieve what we dream of and to demonstrate that our negative image of the past is displaced by positive images that we have just demonstrated through our tourism and culture. ”

In addition to Zúñiga taking Miss Tourism America 2022, Miss Tourism Asia 2022 was awarded to Pakinee Duangpattra of Thailand, Miss Tourism Africa 2022 was awarded to Emmanuella Apuri of Ghana and Duygu Cerit of Turkey won the title of Miss Tourism Europe 2022.

The secured resources will be used to grant loans to workers, retirees, and members of the country’s armed forces, who according to Bayport, have had a difficult time obtaining access to bank financing.

Payroll-based consumer lending is known as Libranzas in Colombia

Elizabeth Rey, Corporate & Investment Banking Head for Citi Colombia told Finance Colombia that “Citi conducted extensive due diligence efforts over Bayport’s business, including among others, the assessment of its corporate governance standards, its credit profile, loan portfolio, and growth prospects, evidencing on the company’s stand as a relevant player in Colombia’s payroll loan industry and its contribution to financial inclusion locally.”

“We continue to explore various options to achieve, in the second half of the year, the double-digit growth of our portfolio estimated in 2022.  We decided to prioritize financing with Citibank Colombia given the size of the financing opportunity and the optimal conditions they offer us,” says Lilian Perea (above photo), CEO of Bayport Colombia.

“Achieving this financial transaction closing with Citibank Colombia allows us to secure sufficient resources to continue providing opportunities to those Colombians who do not have access to bank loans due to their low credit score, which prevents them from progressing and improving their quality of life. That is why we work hard to achieve financial democratization and seek alliances with organizations in which we share the vision of promoting progress in emerging economies like ours, to ensure access to credit lines tailored to the needs of Colombians so that they can move forward, transform their lives and achieve their dreams,” says Perea.

“For over a century of operations, Citi Colombia has been a trusted partner for its clients, connecting financial institutions, multinationals, national companies and governments through our unparalleled global network. For more than 100 years we have worked hard to be a bridge for investors willing to bet on this country’s future, as well as for Colombian entrepreneurs looking to internationalize their businesses. Citi has a clear vision of its role in ensuring this stability, contributing to the country’s economic recovery, and closing the gaps in Colombian society. We know that Colombia offers excellent investment opportunities, both in traditional segments and new avenues for growth that have great potential for the country’s entrepreneurial and technological talent, natural resources and biodiversity, and strategic geographic position, concluded Rey.

Bayport Colombia initiated operations in Colombia in 2011, and now claims 65,000 borrowers with 1.1 billion pesos in loans. This gives Bayport 30% of the non-bank consumer lender market in the country, with 17 branches in 15 cities.

Bayport Management was formed in South Africa to offer simple credit alternatives to those who lack access to bank financing. Globally, Bayport serves half a million borrowers in Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda, Zambia, Mexico and Colombia.

This temporary action is necessary to ensure the health and safety of dogs imported into the United States and to protect the public’s health against the reintroduction of canine rabies virus variant (dog rabies) into the United States.

Dr. Emily Pieracci of the CDC told US News Outlet NPR that during 2020, the CDC discovered over 450 cases of dogs arriving to the US from certain countries with false vaccination certificates, prompting the agency to issue the emergency order.

Last year, the CDC identified a significant increase compared with the previous 2 years in the number of imported dogs that were denied entry into the United States from high-risk countries. Due to reduced flight schedules, dogs denied entry are facing longer wait times to be returned to their country of departure, leading to illness and even death in some cases.

CDC estimates 6% of all dogs imported into the United States arrive from countries at high risk for dog rabies. Inadequately vaccinated dogs are not protected against rabies and are a public health threat. Rabies is fatal in both humans and animals, and the importation of even one rabid dog could result in transmission to humans, pets, and wildlife. Dog rabies has been eliminated from the United States since 2007. This suspension will protect the health and safety of imported dogs by preventing importations of dogs inadequately vaccinated against rabies and will protect the public’s health against the reintroduction of dog rabies.

CDC has coordinated with other federal agencies and entities as necessary to implement this action, and CDC will review this suspension periodically.

Dogs from high-risk countries may be imported only with CDC’s advance written approval (CDC Dog Import Permit), including dogs imported from a country NOT at high risk if the dogs have been in a high-risk country during the previous 6 months. Such approvals may be granted on a limited case-by-case basis at CDC’s discretion. If your request for advance approval to import a dog is denied, CDC’s written denial will constitute final agency action. No appeals will be allowed.

To request advance written approval, you must follow the instructions at How to Apply for a CDC Dog Import Permit and send an email to CDC at CDCanimalimports@cdc.gov, at least 30 business days (6 weeks) before you intend to enter the United States. Requests cannot be made at the port of entry upon arrival into the United States. Dogs that arrive from high-risk countries without advance written approval from CDC will be denied entry and returned to the country of departure at the importer’s expense.

All dogs from high-risk countries granted advance written approval (CDC Dog Import Permit) must enter the United States at a port of entry with a live animal care facility with a US Customs and Border Protection (CBP)-issued Facilities Information and Resource Management System (FIRMS) code. At the time of publication of the FRN, the only approved facility is located at the John F. Kennedy International Airport (JFK) in New York City. CDC will update the list of approved ports of entry at this website as they become available.

Restricted Countries:

Americas & Caribbean

• Belize, Bolivia, Brazil
• Colombia, Cuba
• Dominican Republic
• Ecuador, El Salvador
• Guatemala, Guyana
• Haiti, Honduras
• Nicaragua
• Peru
• Suriname
• Venezuela

Asia, the Middle East, Europe

• Afghanistan, Armenia, Azerbaijan
• Bangladesh, Belarus, Bhutan, Brunei
• Cambodia, China (excluding Hong Kong and Taiwan)
• Georgia
• India, Indonesia, Iran, Iraq
• Jordan
• Kazakhstan, Kuwait, Kyrgyzstan
• Laos, Lebanon
• Malaysia, Moldova, Mongolia, Myanmar (Burma)
• Nepal, North Korea
• Oman
• Pakistan, Philippines
• Qatar
• Russia
• Saudi Arabia, Sri Lanka, Syria
• Tajikistan, Thailand, Timor-Leste (East Timor), Turkey, Turkmenistan
• Ukraine, United Arab Emirates, Uzbekistan
• Vietnam
• Yemen

Africa

• Algeria, Angola
• Benin, Botswana, Burkina Faso, Burundi
• Cameroon, Central African Republic, Chad, Comoros, Côte D’Ivoire (Ivory Coast)
• Democratic Republic of the Congo, Djibouti
• Egypt (Temporary importation suspension of dogs from Egypt until further notice)
• Equatorial Guinea, Eritrea, Eswatini (Swaziland), Ethiopia
• Gabon, Gambia, Ghana, Guinea, Guinea-Bissau
• Kenya
• Lesotho, Liberia, Libya
• Madagascar, Malawi, Mali, Mauritania, Morocco, Mozambique
• Namibia, Niger, Nigeria
• Republic of the Congo, Rwanda
• Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Africa, South Sudan, Sudan
• Tanzania (including Zanzibar), Togo, Tunisia
• Uganda
• Western Sahara
• Zambia, Zimbabwe

If a country or political unit is not listed above, it is not considered high risk for importing dog rabies into the United States. Therefore, if the country is not listed, CDC strongly recommends a rabies vaccine certificate, but it is not required to enter the United States.

If you want to learn more about how the United States determines risk for importing dog rabies, visit CDC’s Rabies Branch. To learn your risk for rabies as a traveler, see Travelers’ Health.

Around the same time as the Feria de las Flores, Colombia usually hosts the Chrysanthemum Week industry event towards the end of August, where breeders and buyers are invited to visit from around the world to network, learn, and stay up to date on the latest varieties, trends, and offerings. The two events take place roughly around the same time but are not formally linked.

Major Chrysanthemum breeders take part in the event and play host to international visitors under normal circumstances. Typically, representative from major grocery store chains, importers, buyers, and other floral supply chain members converge on the Rionegro area outside of Medellín; the heart of Colombia’s floriculture region. Participating breeders include Selecta One, Royal Van Zanten, Progeny, Icon Selections, Floritec, Dummen Orange, Dekker, Danziger and Dutch multinational Deliflor.

Deliflor held its open house, called Delishow 2020 in conjunction with this year’s Crysanthemum week, and invited Finance Colombia to participate. The multinational with headquarters in Holland, is active in 40 countries, as diverse as Uganda, Ethiopia, Japan, China and of course, Colombia, and offers over 400 varieties of Chrysanthemum. The company, with its Latin American headquarters in Rionegro, Colombia designed a virtual platform and tour for its open house, which under normal circumstances would be a VIP festival hosting international visitors at its state of the art greenhouses and packing facilities, but this year, Colombian airspace remained closed until the last week of September, after the open house activities had closed.

The company uses scientific breeding techniques to naturally create new flower varieties. With those it chooses to commercialize, it puts them through a rigorous export-oriented quality-control procedure to ensure that the flowers can endure air and ocean transport, arriving at their final destinations, with ample shelf-life for both the florist or retailer, and the end consumer.

Deliflor itself is not a flower exporter from Colombia, it sells cuttings to local growers and exporters, and charges an intellectual property license fee on its varieties grown and sold by local greenhouses.

Deliflor does not sell flowers, but provides cuttings to growers and charges an intellectual property licensing fee.

Deliflor’s quality control procedures, include simulating ocean and air cargo conditions to ensure varieties can withstand the rigors of global shipping to provide a positive experience to the importer, retailer, and end customer.

“Incofin is a company focused on investing in countries with emerging economies, driven by the desire to promote inclusive growth. This is why we closed this agreement as an alliance to promote that objective, now that our operation is aligned with a sector of people who are typically marginalized by their risk,” said Lilian Perea, CEO of Bayport Colombia.

According to Bayport, these resources are vital at this juncture to offer credit to people involved in agriculture, entrepreneurship, the education of their children, even family emergencies, but because of low or negative credit ratings, do not have access to the banking sector.

Worldwide, Bayport serves more than half a million customers in 9 countries: Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda, Zambia, Mexico and Colombia.

“After a rigorous audit process, we demonstrated the company’s financial strength and reached this agreement, which will help us to leverage the growth we want to achieve during the next two years and continue to provide resources for Colombians to make their dreams come true,” stated Lilián Perea, Bayport Colombia’s CEO.

Founded in 2001 in South Africa, Bayport grants payroll loans to public sector pensioners and employees. Bayport has found its market in countries with development potential such as Colombia, where it arrived eight years ago.

• • The resources will be used to provide loans for pensioners and employees of the armed forces and the education sector.
  • Bayport has operated in the country for eight years, with 30 offices in 23 cities.
  • Bayport’s debt portfolio in the country amounts to COP $800 billion and markets to 94% of the population.

“We have been in Colombia since 2011 and have offices in 23 cities of the country, allowing us to cover 94% of the population. Today, with a debt portfolio exceeding $800 billion pesos, we are proud to announce that have reached 60,000 customers,” stated  Perea.

Bayport has an international presence in 9 countries: Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda, and Zambia, Mexico and Colombia.

According to Superfinanciera, Colombia’s Superintendency of Finance, Colombia’s libranzas, or payroll loans’ portfolio which represents 36% of the consumer debt portfolio, has increased 10% on average per year during the last 3 years. In this same period, Bayport has achieved an annual growth exceeding 37% on average.

“Worldwide, today we serve over 500,000 clients, supported by 2,500 employees and 7,500 consultants. In Colombia, we have more than 60,000 customers and 500 employees nationwide. Our challenge is to continue to grow profitably and sustainably, affording our clients the opportunity to fulfill their dreams,” said Perea.

Who are Bayport customers?

The banking sector in Colombia has focused on low-risk clients, because 78% of the payroll loans it disburses are to people with “Acierta” scores (assigned by Experian) above 700. These clients’ characteristics include good financial behavior, timely payments, and no over-indebtedness, allowing them access to lower rates.

Bayport’s clients, on the other hand, are not served by the banking sector and their “Acierta” scores are below 700, signaling credit behaviors such as late payments and arrearage that need to be improved. This has led them to be subject to higher rates by the banking sector or denied access completely to financial products.

According to company figures, 68% of its 60,000 clients are men and 32% women. Also, 31% are over 65 years old, 44% are between 36 and 65 years old and, 24% are under 35 years of age.

Per sector, 55% of Bayport’s clients are pensioners, 32% members of the armed forces, 5% work with education, and the remaining 7% work in other fields.

What do Bayport’s Colombian customers use the credit for?

For the last two years, Bayport has also measured the destinations of the money lent to its clients. The measurement shows important results in housing, health, and education, in line with the company’s mission.

“Our goal is to continue to accelerate our growth, allowing us to reach the goal of becoming the largest non-banking company in the country in the long term, delivering opportunities to our clients; to maintain our Great Place To Work seal, granted by GPTW, and to continue to provide profitability to our investors,” added Perea.