Microfinance Delta International Company Limited (MIFIDA) is a microfinance company, majority owned by a Japanese company, called Gojo & Company,Inc. Gojo is funded by Japan International Cooperation Agency (JICA), under the Japanese Ministry of Foreign Affairs. In 2015 MIFIDA and Gojo was made joint venture company and got license officially with license number 0247/2015.
Key factors contribute to MIFIDA’s sustainable business and growth
- Experienced management team and JV partner Management team former experience with: Pact Global Microfinance Myanmar, Fullerton Finance, Woori Finance, LOLC, etc.
- JV partner (Gojo) former experience with: World Bank, UNDP, Goldman Sachs, Morgan Stanley, Mckinsey & Company, AT Kearney, Roland Berger, Deloitte, etc.
Outstanding portfolio quality based on weekly collection
- NPL 0.03%: weekly collection allows stable collection as small repayment amounts are manageable by clients.
- Repayment amounts are smaller compared to biweekly or monthly collection schemes.
- MIFIDA is one of the 4 MFIs in top 20 that is solely based on a weekly collection scheme. Most MFIs operate with monthly/biweekly schemes.
- Weekly meetings allow close monitoring of clients’ business and financial situation, leading to swift actions when required.
People management capability
- Low staff turnover rate (2018: 9.6%) due to MIFIDA methodology allowing staff to work under stress-free environment (appropriate workload and low delinquency)
- MIFIDA has been swiftly hiring new staff based on the popularity of management team