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Afghan Credit Guarantee Foundation partner on first-of-its-kind Credit Risk Scorecard for Afghan SMEs
Creditinfo Group, the leading global credit information and fintech services provider, today announced that it has entered into a strategic partnership with ACGF – Afghan Credit Guarantee Foundation to develop a Credit Risk Scorecard aimed at small-to-medium enterprises (SMEs) in Afghanistan. As the first SME credit scorecard to be developed for the Afghan market, the joint solution will not only increase profitable lending to the market, but also provide a host of societal benefits such as great wealth generation and increased employment, as a result of opening up affordable, formal credit to SMEs in the country.
As a global supplier of credit bureaus and credit risk solutions, Creditinfo has been active in Afghanistan since 2013, in partnership with the Central Bank of Afghanistan. ACGF was established in 2014, following a decade of a successful performance by its institutional predecessor Credit Guarantee Facility for Afghanistan. ACGF operates in Afghanistan with the aim of boosting financial inclusion in the Afghan market by providing credit guarantees and Technical Assistance (TA) to financial institutions with the ultimate objective of facilitating SME lending.
ACGF has been at the forefront of driving the Afghan credit industry forward for 15 years. In the challenging economic and political environment of Afghanistan, the organisation utilises its funds effectively to create wide-reaching developmental impact. Since inception ACGF has cumulatively guaranteed USD 219m of loans, supporting 5,500 SMEs. Furthermore, as per the end of 2018 estimations, 45% of all business loans in Afghanistan have been guaranteed by ACGF.