Microfinance Business Plan Solving Math Problems With Solutions
Even in the face of currency devaluation and political instability in recent years, Socremo has remained resilient.Today the Company has 14 branches and more than 43,000 customers, making it the largest bank in the country focused on the small business sector.So when we had the chance late last year, we purchased all of Afri Cap Microfinance Investment Company’s shares in Socremo.
Microfinance tends to target women borrowers, who are statistically less likely to default on their loans than men.
Over the next few years, the company aims to expand its digital capabilities so they can reach more of the region’s underserved populations, improve operational efficiency, and expand offerings.
By leveraging technology, Socremo can save entrepreneurs time and money and ensure its clients feel more secure in their daily financial activities.
Along with our co-investors (GAPI, Nordic Microcap, and Norfinance), we see enormous opportunity to grow and expand service offerings in an underserved market.
Our partnership with Socremo includes guidance from our Global Advisory Solutions team to help achieve digital transformation of Socremo’s products and scale its operations.