Financial Inclusion through Savings House Moznosti

Established in 2000, Savings House Moznosti has continued the activities of the first microfinance institution in Macedonia, offering financial support for the development of the country’s micro and small enterprises. Continuously following the market trends, this organization puts the constant innovation and implementation of new products on the pedestal of its success. Snezana Andova, CEO, emphasizes, “We believe in free initiative, individual creativity and personal responsibility. Our mission is to provide access to initial capital for people that need support for their good business ideas. Our goal is to create new jobs, and our method is to provide small loans for small businesses”.

Highly Established Brand on the Financial Market

Moznosti serves micro and small enterprises and individuals, offering financial products and services, such as loans and savings deposits. The savings house collaborates with clients from the retail sector, the agriculture, individuals, micro businesses and corporate clients. This institution offers loans for corporate clients, micro legal entities and individuals. Snezana Andova, points out, “We are serving clients in urban and rural parts of the country, offering savings and loans for the clients with limited access to banks services. Our advantage is that we have developed microlending methodology creating suitable products for this target groups, building and maintaining strong client relations”.

This financial institution has built strong and recognized brand, collaborating with many international financial institutions such as EBRD, KFW and international funds including responsAbility, Developing World Markets, Symbiotics, Triple Jump and domestic financial institutions such as MEDF, Habitat for Humanity and local banks. Today, Moznosti employs more than 120 highly professional and motivated workers, continuously supporting their growth by organizing suitable trainings. Snezana Andova, says, “We are the largest savings house in Macedonia by assets and we have potential to increase our portfolio as the access to financial sources in our country is one of the biggest obstacles for business developments”.

Opening the Doors for Foreign Investments

Following the main goal to develop its activities in the banking sector, Moznosti sees an open opportunity in becoming a bank and extend the activities such as foreign and domestic payment. Snezana Andova explains, “Our strategic goal is to become a bank and this transformation could be done by the support of a fit and proper shareholder. In this context, we are interested in working with a strategic foreign investor that will become a major shareholder”. She concludes, “The international investors will be satisfied with the investment conditions in Macedonia, especially in the banking sector. The investor will find hardworking and motivated people always looking forward to new opportunities”.

Savings House Moznosti has received Microfinance best practices award 2013 from Foundation Giordano Dell’Amore for introducing innovative and valuable elements for the economic and social development of the microfinance clients.

Savings House Moznosti is a National Champion representing Republic of Macedonia in the 2015/2016 European Business Awards, rewarding and recognizing business success, innovation and business ethics.