Ekhphathana Microfinance Institution (EMI) has won an Asean Business Awards Laos 2021, namely the Special Award for Sustainable Social Enterprise Excellence. The award was handed over recently by Lao National Chamber of Commerce and Industry (LNCCI)
Ekhphathana Microfinance Institution was recognised for its excellence and outstanding business, which provides a unique and standout service for clients under the slogan “Laos’ leading provider of responsible, sustainable financial services and education”.
The institution’s CEO Mr Somphone Sisenglath said “EMI’s vision is to be a leading microfinance institution in the Lao PDR offering efficient, modern and high-quality financial services to low- and medium-income households.” EMI’s mission is also to offer a wide range of financial education services to low- and medium-income households to strengthen family livelihoods and business sustainability.
EMI’s operations are guided by four society-led goals:
Goal 1: EMI offers excellent financial services enabling clients to sustainably grow their household and business assets and achieve their family goals.
Goal 2: EMI offers excellent financial education services enabling clients to manage their money wisely in meeting their household budget needs and growing their businesses.
Goal 3: EMI is an equal opportunity employer that invests in the continuous education of its employees.
Goal 4: EMI seeks long-term sustainability through financial viability while creating client value.
Our performance: Since 2006 EMI has issued more than 120,000 loans to low- and middle-income clients worth more than US$80 million. Savings evolution: EMI believes that savings can help clients accumulate assets which can be used for business and household purposes while also earning interest on savings. EMI also promotes savings for younger age groups through the Smart Kids savings programme, which allows children to put away a portion of their pocket money. To date, more than 49,000 children have taken part in the programme
Financial education for adults: EMI provides financial education for its clients on various topics relating to financial management such as spending wisely, savings for investment, choosing loans wisely etc. Advice can also be found online at EMI’s website.
Social media and financial education: EMI launched the “Financial Education with Fun”, facebook fan page in 2019. The main objectives are to educate people about financial skills and management.
EMI has a staff of 125, of whom 72 percent are female. The key management staff joined EMI more than 10 years. On average, employees stay with EMI for 6.6 years. Functional and management skills have been developed over time. EMI has invested in its human resources continuously through short-term training and further education.
EMI’s core value: In 2017, EMI started a core value called “EMI DNA”, which aims to increase staff satisfaction and happiness to ensure that we can provide the best services and maintain clients’ satisfaction and loyalty. The project was implemented by consultants from the I-Team Consulting Company of Thailand.
Five DNA were identified through several focus group discussions with staff at all levels. EMI DNA consist of 1. Teamwork, 2. Adaptability, 3. Accountability, 4. Ethics and 5. Customer Centric.
In 2020, the “EMI From Good to Great Institution” was formed to translate knowledge into practice. Several implemented programmes encourage staff to do great things such as provide great services to clients and co-workers, be a great team member, etc.
By Advertorial Desk
(Latest Update March 2, 2021)