CEO’s message


CEO’s Message April 1, 2017


Happy New Year 2074 to our clients, promoters, lenders and viewers of this page!


At the dawn of this new year, we have completed four years of operation. We feel less like newborns in this sector and have made tremendous progress with 20 branches in 11 districts, having reached out to 14,600 clients in Nepal’s remotest of areas with 8,200+ borrowers - 95% of whom are deprived women! Just as we began to do well, the entire sector became confronted with defection by some clients and abuse of credits. Multiple lending has been identified as an challenge for all microfinance institutions, necessitating collaboration.


Sahayatra has recognized this as a potential crisis from day one and thus has made efforts to reach out to remote clients where multiple lending is not easily anticipated. To date the location of the branches are in: Chitlang, Phaperbari, Raksirang, Dandabas, Ambhanjyang in Makwanpur, Bhattedanda in south Lalitpur; Okharpauwa in Nuwakot; Holeri, Ghartigaun, Libang, Thabang and Khungri in Rolpa; Jiri in Dolakha; Serigaun and Aathbiskot in Rukum; Baghchaur and Amra in Salyan; Botechaur in Surkhet; Katahariya in Rautahat and Langadi in Bara, a total of 20 branches in untouched areas. Sahayatra has established itself as a committed institution that puts service to deprived women as its first priority.


As a consequence of multiple lending (or borrowing), in the absence of investment guidance and credit utilization for enterprise development, clients are beginning to defect in some places. A few incidents of suicides have alerted practicing institutions and encouraged them to follow a code of conduct in not duplicating credit disbursement by MFI’s reporting to the Credit Information Bureau of Microfinance. At Sahayatra we have been looking for ways to enhance the client capacity so that they not only utilize the credits in their specified enterprise but also expand their business with their increasing experience. Following our efforts in looking for ways to provide skills to clients, we are planning to replicate Berendina Microfinance of SriLanka’s model where their Enterprise Development Service department organizes trainings to clients, paid through coupons, to enhance their business. We are pleased to have been visited by Berendina Microfinance in March to see our operating area. We now plan to pilot the model in our area as well in the coming months.


Our institution also envisions that the credit to clients needs to be complemented with necessary entrepreneurship development and technical skills. In January alone, we formally opened 7 branches in the Midwest region of the country, five of which are partially supported by Sakchyam, a DFID supported project for access to finance in Nepal. Sakchyam’s team including their team leader Baljit Bohra came to Thabang, Rolpa to witness the branch opening and to sign a MOU with Sahayatra amidst a ceremony with the local communities. We also held interactions in the branches on the economic potential of the areas the branches are based in and the opportunities for credit disbursement.


We have also entered into an agreement with LIBIRD (Local Initiatives for Biodiversity Research and Development) and District Chamber and Commerce to provide technical support and nutrition knowledge to the clients where we will provide credits in two branches in Salyan.


This year we were able to provide 10% bonus share as dividend to our shareholders. We have begun to earn profits even though we are serving people in remotest of areas. Sahayatra intends to continue this trend in the coming years working diligently. In order to encourage staff to perform well we are introducing performance incentive system form this fiscal year.


We have also developed a number of new products in view of the changing context and needs of the country. Since the last few months we have introduced new loan products for

a) organic farming;

b) processing, packaging and labelling of products; 

c) mechanization and introduction of agricultural implements;

d) alternative energy at 2 % reduced interests to promote the components.

Collateral clients will also be able to take larger sized loans for education and enterprises.


As part of this we are undertaking economic studies to investigate the economic viabilities of this new direction.


During this last quarter, on behalf of Sahayatra, I attended the Microfinance Summit 2017, organized by Center for Microfinance in Nepal and also presented a paper on the “Experience of Microenterprise Lending in Nepal” focusing on the history of microfinance, women’s economic empowerment and the need of entrepreneurship and enterprise development in Nepal to properly gear investment towards meeting our own organically grown, natural food and medicinal herbs processing through the through millions of clients that are engaged with various microfinance institutions in Nepal.


Also during this quarter, I attended the Asia Pacific Financial Inclusion Summit 2017 in Hanoi organized by Citi Foundation, the Federation of Development Cooperation (FDC) and the State Bank of Vietnam which exposed us to the digital technologies developed in their region to reach out to clients. Certainly there is much for us to catch up on, but we are happy to share that we have also introduced mobile banking to our clients and from this new year on they will be able to inquire about their savings, pay utility costs, recharge phones, topup and transfer their funds to other banks through their mobile phones.



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As of: 2018-12-06 15:00:00
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Previous Closing 545.00
Difference (-31)
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