AKAM’s microfinance initiatives range from group lending to small business financing, from regulated microfinance institutions to full-fledged microfinance banks in Asia, Middle East, and Africa.
The microfinance sector only reaches about 227,000 borrowers in the country, less than 1 percent of the adult population. AKDN established microcredit programmes as early as 2002. In 2004, it launched First MicrofinanceBank, the first of its kind under the country’s new regulatory structure.
Première Agence de Microfinance Burkina Faso (PAMF-B) was established in 2006 and is among AKDN’s economic development projects, which include support for the cotton industry (Faso Coton), sugar industry (SOSUCO) and plastic industry (Fasoplast). AKDN’s initiatives also extend to cultural activities. These activities make AKDN one of the largest employers in the country.
Première Agence de Microfinance Côte d’Ivoire (PAMF-CI) was established in 2008 in Boundiali and opened a second branch in Korhogo in the following year. With commercial banks focusing primarily on companies, large parts of the population are dependent on microfinance.
The First MicroFinance Foundation Egypt (FMF-E) aims to promote economic empowerment and financial inclusion in Cairo and Upper Egypt by providing a diverse range of financial and non-financial products and services to support income-generating economic activities and micro, small and medium enterprise (SME) development.
The First MicroFinance Company, Kyrgyz Republic (FMFC), operated by the Aga Khan Agency for Microfinance, is the largest microfinance provider in the southern region of the Kyrgyz Republic.
In 2005, AKF launched an integrated rural development project in the Sofia region, with the objective of doubling rice yields by training groups of farmers on alternative rice cultivation practices. To support these efforts, the Premiere Agence de Microfinance (PAMF) was established in 2006. PAMF works closely with AKF to provide financial services in Sofia, operating in both the rural areas and small cities.
Première Agence de Microfinance Mali (PAMF-M) was established in 2005 in the Mopti region in line with an initiative by the Malian government to develop the microfinance industry in the country. Though the country is served by 14 banks, their network and activities are primarily concentrated in urban areas and the microfinance sector is used, particularly in rural areas, by about 1 million clients.
First MicroFinanceBank Ltd Pakistan was one of the earliest AKAM affiliates to be established in 2002. Since then, FMFB-Pakistan has become a strong player in the country’s microfinance industry and ranks among the top five providers, with a loan portfolio of more than $105 million to over 260,000 borrowers and a deposit base of over $140 million. Currently, over a third of the Bank’s clients are female and two thirds of the borrowers reside in rural areas.
In view of the current conditions in Syria, AKDN is presently focused on responding to the humanitarian crisis. As in all countries in which it works, AKDN takes a long-term view and remains committed to assisting the peoples of Syria to improve the quality of their lives.
First Microfinance Bank Tajikistan (FMFB-T) was established in 2003 as the first fully licensed commercial bank in the country to have microfinance as its principal focus. This license has allowed it to expand activities to small and medium enterprises. FMFB-T is now one of the leading providers of financial services in the country, serving around 20,000 clients with a loan portfolio exceeding US$ 30 million, and nearly 70,000 depositors
