New impact heights in Asia & Africa | Svasti & Kenya Women
A huge congratulations to our portfolio companies Svasti Microfinance and Kenya Women Microfinance Bank!
Svasti Microfinance and Kenya Women Microfinance Bank's commitment to creating meaningful impact in clients' lives through responsible financial services was reflected in their outstanding results, topping the 2023 60 Decibels Microfinance index in Asia and Africa respectively.
Take a look at the full 2023 60 Decibels Microfinance Index report and rankings
Abler Nordic is a proud supporter of the second 60 Decibels Microfinance Index, after helping establish the global survey as a founding partner in 2022. This year’s index collected more than one million unique data points across 114 financial service providers, who collectively serve over 84 million clients in 32 countries.
The aim of participating in the index was to gain an in-depth understanding of how clients’ lives have changed because of financial services, reflecting our firm belief that our end-clients are the best judges of improvements in their own lives. Over 2000 of our end clients from eight of our portfolio companies in Sub-Saharan Africa and Asia participated in the 2023 index.
Svasti Microfinance - The right to finance for every woman
Svasti Microfinance was established in 2008 and currently provide loans, savings products and health insurance to over 400,000 women in urban and rural areas across four states in India. Svasti’s focus is on women micro-entrepreneurs, as they are not only important members of every household, but also contribute significantly to the Indian economy.
"Svasti provides loans to women from low-income households and encourages them to use the amount for productive purposes. When our clients are able to invest loans in their businesses, they are able to grow their businesses or diversify their livelihoods – which can potentially increase their overall household income. Increased incomes provide opportunities for our clients to invest in children’s education and help improve the quality of meals"
Arunkumar Padmanabhan, Co-founder & CEO – Svasti Microfinance
of 275 Svasti clients interviewed said their savings had increased
said their quality of life has improved since becoming Svasti clients
say they've experienced decreased financial stress as a result of access to financial services through Svasti
Kenya Women Microfinance Bank - Banking on Women
Kenya Women Microfinance Bank (KWFT) has been in operation since incorporation in 1982 and has since grown to be the biggest microfinance institution in Kenya. KWFT aims to help women entrepreneurs realize their economic potential and improve their whole family’s living standards and financial security. KWFT currently supports nearly 300,000 clients with products that help improve their quality of life, such as micro loans, and loans for solar energy, education and sanitation.
"We take great pride in developing customer-centric products that positively transform the lives of our customers and their families. We’re committed to developing innovative and affordable products and services that are aimed at improving our customers and their families’ livelihoods by upholding their dignity, saving them time and energy, conserving the environment as well as earning them income"
Mwangi Githaiga, Managing Director – Kenya Women Microfinance Bank (KWFT)
of 275 KWFT clients interviewed said their business income had increased
said their ability to manage their finances had improved since becoming KWFT clients
of clients say the amount they spend on their children’s education has increased
