Aspekt, a Macedonia-based computer technology company, has signed an agreement with Microcredit Foundation EKI, a Bosnia-based microcredit foundation that aims to reduce poverty in Bosnia and Herzegovina, to implement Aspekt’s microfinance software solution to support EKI’s microcredit services [1]. The software offers portfolio management tools that include modules for savings, deposits, credit scoring, fixed assets, human resources, payroll, and payment records, among others [2]. The terms of the deal are not available.
EKI was founded and is credited by World Vision International and its services aim to help the company’s clients establish and improve small businesses, including the production of crafts, general services and agricultural activities. The majority of its clientele are low-income people, women, disabled individuals and returnees who have been displaced by war.
Financial data for Aspekt has not been released. As of December 2012, EKI reported a comprehensive income of BAM 5.01 million (USD 3.4 million). For the same year, EKI reported net assets of BAM 37.3 million (USD 25.4 million. The outstanding gross loan portfolio (GLP) was estimated at BAM 93.7 million (USD 63.9 million), while the return on assets (ROA) and return on equity (ROE) totaled 4.83% and 13.42% respectively.
By Anesa Kratovac, Research Associate
About Aspekt
Established in 1992, Aspekt is a Macedonia-based information and communication technology company. It offers four products: Aspekt Leasing Software Solution, Aspekt Insurance Software Solution, Aspekt Enterprise Management System and Aspekt Microfinance Software Solution. The firm provides services in the areas of: consulting, application development, internet and intranet software development, offshore outsourcing, web and multimedia development, and hardware and system integration. The number of clients using Aspekt software is unavailable.
About Microcredit Foundation EKI
Microcredit Foundation EKI (MCF EKI) was created as part the microcredit program of US-based, non-profit organization World Vision International (WVI) in 1996. In March 2001, EKI was registered as a local microcredit organization and as of 2013, has approximately 66 offices and 280 employees in Bosnia and Herzegovina. EKI’s mission is to reduce economic causes of poverty in Bosnia. As of 2013, it serves approximately 36,000 clients who have started small businesses and agricultural activities. The majority of its clients are low-income people, women, disabled individuals and diaspora returning to Bosnia. As of December 2012, EKI reported a comprehensive income of BAM 5.01 million (USD 3.4 million). For the same year, EKI reported net assets of BAM 37.3 million (USD 25.4 million). The outstanding gross loan portfolio (GLP) was estimated at BAM 93.7 million (USD 63.9 million), while the return on assets (ROA) and return on equity (ROE) totaled 4.83% and 13.42% respectively.
About World Vision International
World Vision is a US-based Christian humanitarian organization dedicated to working with children, families and their communities worldwide to reach their full potential by tackling the causes of poverty and injustice. World Vision serves poor people worldwide regardless of religion, race, ethnicity or gender. The organization operates microfinance institutions through its subsidiary VisionFund International. VisionFund International seeks to improve the lives of children in the developing world by offering small loans and other financial services to families living in poverty. World Vision raised USD 2.79 billion in cash and in-kind gifts during 2011 and as of 2013 serves approximately 100 countries.
Additional Sources and Resources:
[1] Aspekt Press Release, http://aspekt.mk/category/news/
[2] Aspekt Official Website, http://aspekt.mk/products/aspekt-microfinance-software-solution/
MicroCapital.org Article, February 27, 2013, “MICROFINANCE PAPER WRAP-UP: “Microfinance at The Margin: Evidence from Bosnia and Herzegovina”; by Ralph De Haas, Heike Harmgart, Britta Augsburg and Costas Meghir; published by European Bank for Reconstruction and Development,” https://www.microcapital.org/microfinance-paper-wrap-up-microfinance-at-the-margin-evidence-from-bosnia-and-herzegovina-by-ralph-de-haas-heike-harmgart-britta-augsburg-and-costas-meghir-published-by-europe/
MicroCapital.org Article, February 25, 2013, “MICROCAPITAL BRIEF: Aspekt to Provide Microfinance Software to Serbian Microlender MicroFinS-DBS,” https://www.microcapital.org/microcapital-brief-aspekt-to-provide-microfinance-software-to-serbian-microlender-microfins-dbs/
MicroCapital Universe Profile: Aspekt, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Aspekt
MicroCapital Universe Profile: Microcredit Foundation EKI, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microcredit+Foundation+EKI
MicroCapital Universe Profile: World Vision International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=World+Vision
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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