Nature of Business

Finbond is a South African financial services organization that specializes in the design and delivery of unique value and solution based finance solutions tailored around borrower requirements rather than institutionalized lending policies.

Finbond focuses on assisting it’s clients gain access to finance and credit solutions. Finbond target’s the poor, unbanked and underserved market of more than 40% of the adult population in South Africa actively seeking financial services but remaining largely unattended and underserviced due to the traditional banks focus on the higher income brackets.

Finbond Micro Finance addresses a focused customer profile and delivering branded products through low cost delivery platforms. Finbond operates through 190 branches in Southern Africa and have 506 employees. Over the past years Finbond serviced 330 000 customers.

Strategic initiatives currently underway includes:

• Applying for a Mutual Banking License to the South African Reserve Bank in order to provide clients with full range of low cost banking services once approved.
• Expanding the capital base through an offering in the Debt Capital Markets
• Developing a new loan management system with EMID that is of ISO 9001:2000 ISAE 3402* (SAS70) standard and quality and will be implemented in June 2011.
• Selectively expanding the branch Network.
• Focus on increased sales of the short term product range, specifically 30 day and 90 day products.

Making credit facilities available to the poor, along with the necessary education on how to use these facilities wisely, remains the cornerstone of sustainable development.

Whilst the development Finbond's Micro Finance business is well established, Finbond is currently positioning itself to undergo a period of further expansion in order to gain market share in South and Southern-Africa.