Empowering MFIs; Bridging the Funding Gap
Agora Microfinance CEO Tanmay Chetan shares the company's purpose and explains how the company is navigating the space:
Smriti Pandey: Please share some insights into your recent investments in the microfinance sector in terms of organizations, their size, their age, their country of operations, etc.
Tanmay Chetan: In the past year, Agora has made continued equity investments into our subsidiary retail operations in Zambia and India, in addition to creating 2 new entities in Botswana and South Africa. Altogether, our retail operations reach in excess of 175,000 clients and manage total assets of around $25 million. Aside from that, we also make debt investments into financial inclusion in Africa and Asia, in which our current portfolio of $15 million is spread across 6 countries and 7 institutions. Generally speaking, all our investees are engaged in livelihood and/or SME financing and have a strong focus on financial inclusion for the lessbanked. These include both early-stage institutions as well as market leaders. Our overall reach through 2 financing streams currently extends to India, Zambia, Botswana, South Africa, Kenya, Uganda, Nigeria and Cambodia.
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