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Finbond Group Limited
Share code: FGL ISIN: ZAE000138095
(âFinbondâ or âthe Companyâ or âthe Groupâ)
ACQUISITION OF UP TO 35% of FINANCIERA CONTIGO â MEXICO
1. Introduction
S.A.P.I. de C.V. SOFOM E.N.R (âFinanciera Contigoâ) (âContigoâ) that sets forth
the terms and conditions pursuant to which Finbond will acquire up to 35% of
the equity interests issued by Financiera Contigo.
Financiera Contigo provides financial services and products throughout the
Mexican territory. With more than 10 years of experience in the group-based
micro-finance sector, Financiera Contigo, that has a similar business model to
Grameen Bank in India, mainly focuses on group lending and currently serves
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GURUGRAM, India, May 19, 2021 /PRNewswire/ While Indonesian government has been taking initiatives on grounds of industrial digitization, education & commerce, the country still lags behind other emerging countries in terms of digital adoption. Indonesia is placed as one of the largest economies in South East Asia where >60% population is unbanked. This proportion of population is often looking for alternative digital financing options. However, there is a still a section of population that continues to rely on traditional sources of financing (banks and informal channels like friends, family, informal lenders etc) for varied reasons such as limited financial awareness, inadequate collateral, lack of trust on alternative sources etc.
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