AMZ registers first full year of profits
AMZ achieved an important milestone in its short history by achieving full year profits for 2016, in its 5th full year of operations. AMZ's achievement was aided in large part by growth as well as strong portfolio quality over the last two years.
On the achievement of this milestone, Abduqodir Sattorov, CEO said, "I want to thank all AMZ staff for their hard work and commitment to achieve this milestone. Also I want to thank to my predecessors who have laid a strong foundation for this success and the Board of Directors for their guidance and support. All AMZ staff are committed to continue on the same pace and achieving even much more higher milestones in the coming couple of years."
Tanmay Chetan, Chair of the Board, said "I want to thank the management and staff of AMZ for this strong and hopefully sustainable turnaround. AMZ has taken important strides in diversifying its operations by adding mobile payment services, micro-insurance and MSME lending to its rural portfolio. These steps will hold it in good stead in the years to come and enable it to reach larger numbers of rural Zambian populations".
Both Abduqodir and Tanmay had a special word of appreciation for Grameen Credit-Agricole, who were the primary lender to AMZ during 2016, and also helped in institutional development through targeted technical assistance.