The Group aims to achieve sustainable growth and increased financial inclusion by growing its loan portfolio, adding digital financial services and broadening services.
* The aspects with icons in the Group’s overall strategy in the banner are intricately connected to digitalisation.
Increase financial inclusion
- Increase number of branches and clients
- Increase loan volumes by product diversification
- Grow loan revenues from payments and deposits
- Greenfield branches in new countries
- Returned to growth, post Covid. This excludes India, where the Company has a deliberate shrinking strategy in 2022.
- OLP in constant currency, excluding India, grew by 25% to USD 383m.
- Percentage growth of number of clients, excluding India, was 10%. The countries of the highest growth in clients are Pakistan, Tanzania and the Philippines, which added a combined total of 172k clients.
- Percentage growth of number of branches, excluding India, was 7%. The countries with the highest growth in branches are Pakistan, Tanzania and the Philippines, which added a combined total of 78 branches.
- Average Gross OLP per client in constant currency, excluding India, increased with USD 22 per client, resulting in a USD 195 Gross OLP per client.
- Proceed with healthy operational growth.
- Improve performance in India and continue Business Correspondent (‘BC’) strategy.
Add digital channel to branch model
- Maintain branch model and proven credit methodology
- Maintain group meetings and active field presence
- Introduce a digital channel via a smartphone and other mobile devices
- Enrich the high touch service
- In implementation phase of the Core Banking System (‘CBS’) in both Pakistan and Ghana.
- A digital financial services (‘DFS’) platform is being developed and will be launched with the implementation of the new Core Banking System.
- Finalised the development of a digital market place for clients and their suppliers, called the Supplier Market Place (‘SMP’), which is being rolled out in 2023 in Ghana.
- Implement a Core Banking System in Pakistan and start banking operations in Pakistan.
- Work towards implementation of the Core Banking System combined with a digital proposition in Ghana (go live early’24)
Broaden products and services
- Continue to grow the loan portfolio
- Offer online loans, payments and deposits
- Provide value added services (Supplier Market Place, ‘SMP’) to grow clients’ businesses
- Attract new clients
- Obtained a Microfinance Banking licence in Pakistan.
- Making steps to apply for the microfinance banking licence in Tanzania and Kenya.
- Roll out the marketplace proposition (SMP) in Ghana
- Progress with obtaining microfinance banking licences in Tanzania and Kenya.