Agora gears up to enhance financial inclusion in South Africa

As we mark the beginning of 2024, we are pleased to report that Agora Microfinance has received its credit license to operate in South Africa, where it plans to establish a high-quality financial institution catering to rural and urban livelihoods.  As part of its current plans, operations will begin soon in the Western Cape, with its headquarters in Cape Town.  Over time, Agora Microfinance South Africa (AMSA) will seek to expand to other parts of the country, focusing on rural smallholders and other allied households.

Speaking on the receipt of the license and its plans in the country, Jitske Cnossen, the Chief Operating Officer of Agora who is based in Cape Town, says –

The license marks the beginning of an exciting journey for Agora in South Africa.  Despite the high potential in the country, rural communities often do not have viable access to finance, and we will seek to address this demand in the rural markets.  Our experience from Zambia and elsewhere confirms the value of timely financial services in the lives of our clients, in helping them achieve better economic and social outcomes for their families.  We seek to be their partners in this journey.

Operations are set to begin in the coming months, so please stay tuned for more updates from us!