Introducing OXUS: Expanding our reach across Tajikistan
Written by Lynn Hamerlinck on 27 March 2023
We're thrilled to welcome our newest borrower OXUS to the Lendahand portfolio in Tajikistan. Adding a second microfinance institution from the country will enhance even more prosperity and change for Tajik SME entrepreneurs across the nation.
OXUS for the working poor
On their mission to provide financial services to the working poor and the underbanked, microfinance institution OXUS has a broad presence in Tajikistan. The economy of this geographically challenging country is mostly dependent on agriculture and mining.
Take a virtual journey around the country in a quick read on our blog about the landscape, economy and the country’s challenges and opportunities by clicking here.
From their 27 branches across the country, OXUS serves more than 14 000 clients. The nearly 200 employees of the microfinance institution work hard to improve the lives of their customers.
Founded by ACTED
Does the name ACTED ring a bell? You might have heard about them when Lendahand communicated the acquisition of French microcredit crowdfunding platform Babyloan in June 2022. ACTED is one of the two French institutional investors who made the acquisition possible. Yet, the NGO is active worldwide and founded microfinance institution OXUS in 2005. Today, ACTED is the biggest shareholder of Oxus Holding.
How you contribute
With your investment in their projects, you allow OXUS to provide small loans of up to 3 000 euros to SME entrepreneurs in Tajikistan.
Entrepreneur Tuychiev started his woodworking business twenty years ago. “It was not until I received my first loan from OXUS that my business really began to roll,” he says. “The loan enabled me to buy raw materials to increase my turnover and to reinvest the profits back into the business. I was even able to hire workers!”
Tuychiev in his workshop
Translating a growing business into improving personal life is often difficult for small entrepreneurs. Luckily, Tuychiev is able to better the living conditions of his family: “With my increased income, I built a house for my brother, bought a car for myself, and I can send my youngest son to a good school.” Now that’s the impact we want to see at Lendahand!
Loans from OXUS allow entrepreneurs to keep their businesses moving forward and expand their income-generating activities. Of their client base, 80% is located in rural areas of the country, and over 40% of OXUS’ portfolio are female entrepreneurs.
Zebi on her farming land
In the 6 years she’s been working with the microfinance institution, Zebi has experienced a positive change in her farming business. The loan and assistance from agronomists she received encouraged her to expand her sources of income. Zebi: “I started cultivating different crops and breeding cattle. It allowed me to get more yield and provide a better economic situation for my family.”
Getting excited about financing entrepreneurs in Tajikistan? OXUS’s first project will soon be available on our platform. Keep an eye on our projects page here.