Socially responsible services
Through the ASA Model of Microfinance
The Company has a long heritage in the microfinance industry. ASA, the Association of Social Advancement, became a microfinance institution in 1992, with heritage dating back to 1978. The ASA operating (lending) model is focused around six distinctive features, emphasizing the Company’s social responsibility commitment to clients and staff:
- Loans with market-based interest rates.
- Group selection without joint liability.
- Collateral-free loans with a moratorium on loan repayments in emergency situations.
- Loans for income-generating activity only.
- Full repayment before qualifying for new loans and repeat loan cycles with set limits.
- Training and development of operating staff in house and no bonus incentive.