Philippine tycoon Gokongwei launches $200m venture to provide easy access to credit

Philippine tycoon Gokongwei launches $200m venture to provide easy access to credit

John Gokongwei. Photo: Bloomberg

Billionaire John Gokongwei, owner of the Philippines’ largest snack maker and budget airline, and a Skype Inc. founder will invest as much as $200 million over three years to lend to millions of unbanked Filipinos.

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