Microfinance

Microfinance is the provision of financial services to low-income people and a key pillar of improving financial inclusion globally. By providing access to financial services, microfinance helps low-income households generate income, build assets, manage consumption and manage risks.

The World Bank estimates that approximately 1.5 billion adults, or approximately 25 per cent of the world adult population, do not have an account at a formal financial institution and are therefore financially excluded.

Addressable market for ASA International

c. 376.0 million

Prospects in existing countries

Using the World Bank’s data, there are estimated to be 376 million potential adult women clients made up of the low-income adult female population in ASA International’s existing thirteen operating countries. The Group views women earning broadly around U.S.$3.65 a day (which is the international poverty line for lower-middle income economies, as defined by the World Bank, and based on 2017 Purchasing Power Parity terms) as potential clients.

ASA International is well-placed to capture this significant breadth of opportunity by continuing to increase its market penetration.

Large addressable market

Total
 
376.0m
Asia
Financial institutions 30.7m
  Informal sources 90.1m
  Non-borrowers 158.2m
  Total 279.0m
Africa
Financial institutions 9.3m
  Informal sources 47.9m
  Non-borrowers 39.9m
  Total 97.1m

Financial institutions

Financial institutions in the table refer to those served by organisations that process monetary transactions such as loans, deposits and investments. Examples include banks and credit unions.

Informal sources

Informal sources in the table refer to those served by sources of informal credit that do not fall in the traditional banking sector and are not a registered institution. Examples include relatives, friends or local lenders (e.g. payday lenders and pawn shops).

Non-borrowers

Non-borrowers refer to those who have not previously borrowed from any source.

The table below presents further detail on the borrowing habits of women in the Group’s 13 countries of operation.

Women 15+ under $3.65/day (mn)
  (in m) Working age pop. (15+)  Financial institution  Informal sources  Non-borrowers  Total  Existing clients*
ASIa
India 1093.7 27.5 77.0 128.8 233.3 0.2
Pakistan 159.1 1.1 8.5 22.3 31.9 0.7
Philippines 83.6 1.3 3.0 3.2 7.5 0.4
Myanmar 41.3 0.3 1.1 2.7 4.1 0.1
Sri Lanka 17.3 0.5 0.4 1.2 2.1 0.0
Total
1394.8
30.7
90.1
158.2
279.0
1.4
               
AFRICA
Nigeria 137.2 2.8 20.7 19.7 43.2 0.2
Tanzania 39.4 0.7 6.4 7.9 15.0 0.3
Kenya 35.6 2.8 6.8 3.0 12.7 0.3
Uganda 28.2 1.9 5.8 2.6 10.3 0.2
Ghana 22.1 0.4 2.4 2.6 5.4 0.2
Rwanda 8.9 0.3 2.1 1.2 3.6 0.0
Sierra Leone 5.4 0.1 0.9 0.8 1.7 0.0
Zambia 12.5 0.3 2.7 2.1 5.1 0.0
Total 289.4 9.3 47.9 39.9 97.1 1.2
TOTAL
 
1684.2
39.9
137.9
198.2
376.0
2.5

* ASA International clients as at 17 April 2025.

Note:

(1) All statistics are taken from https://www.worldbank.org/.
(2) Specifically, population statistics, low income percentages, and borrowing structure are taken from Population Estimates and Projections database, Poverty and Equity Brief, and Global Financial Inclusion database respectively.