Lazika Capital is a microfinance institution created in 2000 by Oxfam Great Britain in Georgia. Its mission is to facilitate access to financial services for low and middle income entrepreneurs.
Lazika Capital is among the leaders in the Georgian microfinance sector and has nearly 14,000 clients. The agricultural sector represents 52% of its portfolio.
In 2020, in response to the Covid-19 crisis, Lazika Capital provided significant benefits to its clients directly affected by the health and economic crisis. During this period, the Grameen Crédit Agricole Foundation, alongside other lenders, supported Lazika Capital to limit a decline in its liquidity and ensure that the institution could continue to finance its clients. Although the health situation has improved in 2021, the institution remains actively involved in various government programmes to reduce the negative impact of the pandemic and accelerate economic recovery.
Priority to digitalisation
Lazika Capital was the first microfinance institution in Georgia to be allowed, by the National Bank, to offer remote services.
To support entrepreneurs, especially in the agricultural sector, Lazika Capital offers its clients technological improvements to make their products and services more diversified and flexible.
Indeed, the institution uses digital tablets for better application management in the field. This digital offering was particularly useful during the lockdown period, as clients could apply for loans, be informed of their approval and make repayments without visiting a branch.
The positive results achieved in 2020 prove that Lazika Capital is a resilient institution, able to face challenges while continuing to be a successful, reliable and responsible partner in the microfinance sector. The Grameen Crédit Agricole Foundation, on its side, pursues its support to the institution with which it has been working since 2017, in order to continue supporting Georgian entrepreneurship, despite the challenges in this uncertain period.
More information on Lazika here.