|
|
INVITATION
OF STRATEGIC INVESTORS
The First Albanian Financial Development Company
(FAF-DC), newly founded as a successor to the
Mountain Areas Finance Fund (MAFF) and 100%
owned by the Republic of Albania, represented by
the Minister of Finance, invites the
participation of strategic investors:
a)
to support the strengthening of FAF-DC,
institutionally as well as in terms of
developing supplementary financial products; and
b)
to contribute a minimum of € 8 million in
share capital in order to enable FAF-DC to
expand its business activities, with the
possible future option of buying into the shares
owned by the Republic of Albania, partially or
totally
The predecessor of FAF-DC, the Mountain Areas
Finance Fund (MAFF), was established in 1999 as
a Government owned foundation, with status as a
non-bank financial institution, within the
framework of the IFAD loan financed Mountain
Areas Development Programme (MADP). The
original mission of MAFF was to contribute to
the economic growth of the generally poorer
mountain areas of Albania by providing access to
appropriate and sustainable financing of micro,
small and medium enterprise (MSME) clients’
investment needs and business objectives.
Since its establishment, MAFF has successfully
responded to its mandate and developed into a
stable and sustainable financial institution
with a loan portfolio of good quality, and with
a strong position among private clients and
MSMEs in rural and mountain areas of Albania.
For MAFF to continue to respond to its mandate,
it has been transformed into a non-bank
financial shareholding company, the First
Albanian Financial Development Company (FAF-DC).
Strategic investor/s invited should:
i. Be
foreign based private sector operator/s
ii. Be willing to contribute equity
capital of minimum € 8 million into FAF-DC, and
to maintain
this equity for a
minimum period of 3 years
iii. Have
a minimum equity size of € 50 million
iv. Have
a minimum of 5 years, and ongoing operational
focus on the financial sector/lending sector,
and significant experience in rural and MSME
(micro, small and medium enterprise) financing
Main highlights of FAF-DC/MAFF
|
DESCRIPTION |
Ultimo 2008 |
Ultimo 2007
(000 ALL) |
Ultimo 2006
(000 ALL) |
|
(000 USD) |
(000 ALL) |
|
Total Outstanding Loan Portfolio |
16,577.8 |
1,457,358 |
1,383,035 |
1,363,253 |
|
No. of active borrowers |
5,163.0 |
5,163 |
4,752 |
5,354 |
|
Average Loan Balance/Borrower |
3.2 |
282 |
291 |
255 |
|
Profit/Loss |
526.8 |
46,314 |
53,534 |
21,602 |
|
Total Assets/Liabilities |
17,764.8 |
1,561,705 |
1,404,149 |
1,334,077 |
|
Equity |
12,111.5 |
1,064,718 |
1,030,162 |
980,100 |
|
Arrears >30 days |
4.1% |
2.4% |
11.6% |
|
Operational self-sustainability |
113.7% |
127.46% |
133.22% |
|
No. of Outlets |
27 |
25 |
19 |
|
Total
No. of staff:
Head Office
Branches |
100
33
67 |
91
28
63 |
79
24
55 |
|
Sector
distribution of Loans:
Agriculture/Livestock
Trade
Production
Services
Others |
38%
29%
10%
17%
6% |
37%
30%
11%
12%
10% |
38%
26%
12%
10%
14% |
Investors interested in responding to this
invitation, should express such interest to:
FAF-DC Capital Restructuring Committee,
Att. The Secretary, Ms. Luiza Shehu, e-mail:
lshehu@ffzmal.org, tel: +355 4 222 026
from whom further information may also be
requested.
|
|