MICROCAPITAL BRIEF: BASIX Group Providing Technical Assistance to Microfinance Institutions in South Africa, Ethiopia and Rwanda

BASIX Group, which consists of several companies based in India that participate in microfinance and business services to the poor, has begun to provide technical assistance to microfinance institutions (MFIs) in various African nations such as South Africa, Ethiopia, and Rwanda [1,2]. This comes after BASIX has already provided technical services to MFIs in Papua New Guinea, Timor Leste and Sri Lanka [1]. MicroCapital reported on Basix’s role as a “technical partner” for a USD 1 million equity investment by the International Finance Corporation (IFC), the investment arm of the World Bank, in the MFI ‘Papua New Guinea (PNG) Microfinance’ [3]. BL Parthasarathy, the Senior Group Vice-President of BASIX, has stated that “To meet the needs of global customers, it is necessary to foray into the least developed countries and emerging [markets]” [1]. He also says that BASIX will begin to “interact with MFIs” in Kenya, Tanzania and Zambia this month [1]. In the following three years, BASIX “[hopes] to reach out to over 10 countries” [1].

By Christopher Maggio, Research Assistant

About:
BASIX Group

Description
BASIX Group consists of several companies based in India that work in 15 states in the country and have also extended technical services to other countries in Asia and Africa. Companies in the group provide various services to the poor including financial services, agricultural/business development services, and institutional development services. Its holding company is Bhartiya Samruddhi Investments and Consulting Services (BASICS Ltd.).

Microfinance Information Exchange (MIX) Profile for Bhartiya Samruddhi Finance Limited (part of Basix Group)
http://www.mixmarket.org/mfi/basix

Organization’s Website
http://www.basixindia.com/

Just the Facts
-Country of Incorporation: India
-Year Founded: 1996
-Total Number of Customers for all Services: 1,593,703 (as of 31/March/09)
-Loan Portfolio Outstanding: USD 114.8 million (as of 31/March/09)
-Number of Active Borrowers: 630,326 (as of 31/March/09)
-Area of Operation: Asia, Africa
-Participant(s)/Backer(s)/Investor(s): Bhartiya Samruddhi Investments and Consulting Services (BASICS Ltd.)
-Products: Loans, Insurance, Agriculture/Business Development Services, Institutional Development Services, Technical Services
-Currency: INR

Contact Information

REGISTERED OFFICE

BASIX
D 9, First Floor,
Greater Kailash Enclave – I,
New Delhi 110 0 48.
Ph: 011 4173 0252 , 011 4173 0454
HEAD OFFICE

3rd floor, Surabhi Arcade,
Bank Street, Troop Bazar, Koti,
Hyderabad-500001
Tel: +91-40-30512500/01
Fax: +91-40-30512502
Email: info@basixindia.com

Additional Resources
BASIX Annual Report 2008-2009: http://69.89.31.196/~basixind/images/BasixAR2009Final.pdf

Bhartiya Samruddhi Finance Limited: http://69.89.31.196/~basixind/index.php?option=com_content&task=view&id=…

‘Economic Times’ of India article entitled ‘Basix eyes Africa for global reach’: http://economictimes.indiatimes.com/news/news-by-industry/banking/financ…

Bibliography
[1] ‘Economic Times’ of India article entitled ‘Basix eyes Africa for global reach’: http://economictimes.indiatimes.com/news/news-by-industry/banking/financ…
[2] Basix: http://www.basixindia.com/
[3] International Finance Corporation Enters Papua New Guinea’s Financial Sector With Investment in PNG Microfinance:http://www.microcapitalmonitor.com/cblog/index.php?/archives/228-International-Finance-Corporation-Enters-Papua-New-Guineas-Financial-Sector-With-Investment-in-PNG-Microfinance.html#extended
[4] IFC: http://www.ifc.org/

Source Article: ‘Economic Times’ of India article entitled ‘Basix eyes Africa for global reach’: http://economictimes.indiatimes.com/news/news-by-industry/banking/financ…

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