Annual Report: Balloon 2021-2022 – Balloon Ventures

Annual Report Published

We’ve published our Annual Report and Audited Accounts for financial year 2021-2022.

Click here for full access.

This was a breakthrough year for us. After the initial successes piloting this model, we doubled our efforts and focused on growth in Uganda. Based on previous successes we felt confident significantly increasing the pace of investments and growing to new areas. 

Overall, loans grew over 4x during the year, the gross loan portfolio grew over 2x and revenue 3x. In November 2021 we hit EBITDA positive in Uganda proving the commercial viability of the model. The resulting impact saw the number of jobs sustained and improved in the portfolio double from the previous year reaching over 1,200 people.

Thanks to the hard work of our incredible team and the essential support of partners we are now in a position to rapidly scale our impact in the coming years.