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Our Bureau

Kochi, May 20

ESAF Microfinance and Investments (P) Ltd (EMFIL), one of Kerala’s largest microfinance companies, recently raised Rs 12 crore by selling 20 per cent of its stake to Dia Vikas Capital, Delhi, a 100% subsidiary of Opportunity International, Australia. The parent company is a global leader in providing micro finance and enterprise services.

The deal was aimed to generate capital for EMFIL to expand its business. The company aims to reach out to one million poor households by 2014.

Modelled on the lines of Grameen Bank, founded by Nobel laureate Mohammed Younus, ESAF Society was launched in 1992 by its founder and Executive Director, Mr Paul Thomas. ESAF’s objective is to create opportunities for identifying and developing people’s ability by undertaking various developmental activities like micro enterprise development, human resource development and community development. Even though the micro finance activities of ESAF was started in 1995, the company EMFIL began its operations as an NBFC registered under RBI only in 2008.

At present, EMFIL has over 2,30,000 borrowers, and a cumulative disbursement of loans worth Rs 401 crore.

More Stories on : Financial Institutions | Kerala

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