OXUS story began in 1997 in Tajikistan, just as the country emerged from a fierce civil war. Back then ACTED started to disburse its first micro-loans in the Vakhsh Valley. The microfinance programme aimed at supporting bakers who were in desperate need of flour which was repaid at a later stage. Following the success of this initiative, ACTED gradually launched several microfinance programs across the country until February 2006 when OXUS was registered with the Tajik National Bank as a Micro Lending Organization. Since then, OXUS Tajikistan has developed the portfolio it inherited from ACTED. As of march 2015, OXUS Tajikistan is ranked fourth largest microfinance provider in portfolio terms out of all AMFOT members. The affiliate has 39 branches and has since inception disbursed over 99 341 micro loans and nearly EUR 40m.
Over the last decade Tajikistan has achieved remarkable socio-economic progress. The national poverty headcount at national level has retreated from 92% in 1999 to 36% in 2013. In addition, more than 80% of the Tajik population lives in rural areas, with agriculture representing 24.5% of the GDP.
In the meantime, the country suffers from weak financial inclusion as banks and local financial institutions are not always able to provide much-needed loans to local farmers and entrepreneurs.
In order to best meet the specific needs of its clients OXUS Tajikistan currently offers 7 different types of products (individual business loans, group loan products, individual agro livestock loan products, individual agro horticultural roduct, external consumer loan products, express loans and internal consumer loan products), with individual loans accounting for 80% of the affiliate’s outstanding loan balance against 20% for group loan products.
Since inception OXUS Tajikistan has focused on operations in rural areas where 82% of clients live and work. To date about 43% of OXUS clients in Tajikistan use their loan to finance trade and services activities, while nearly 47% use it for livestock and horticulture. In the meantime, women represent 36% of OXUS Tajikistan clients.
Vatansho Vatanshoev – Chief Executive Officer
Vatansho graduated in Modern Languages from the Tajik State University in Dushanbe, and is currently enrolled in an Economics Master Degree at the Russian Humanities Academy. After working for the Office of the Prime Minister, he joined ACTED in 1997, initially to monitor and supervise a program aimed at supporting small and medium-sized entrepreneurs. He gradually moved his way up to become Area Programs Coordinator for the Khatlon Region in 2003. In 2006, he became Chief Executive Officer of the newly created OXUS Micro-Lending Organization in Tajikistan.
Ilkhom Khodjaev – Chief Operations Officer
Ilkhom obtained a degree from the Economics and Management Faculty of the Technological University of Tajikistan in Khujand. He began to work for OXUS Tajikistan in 2006 as a Loan Officer in the Sughd Branch, and was quickly promoted to be Loan Administrator, and Loan Supervisor. He managed Product Development and Marketing at Headquarters before becoming Chief Operations Officer.
Azam Abbosov – Chief Financial Officer
Azam studied History as well as Finance and Market Economy at Khujand State University in the Sughd Region. He first worked as a Finance Officer for ACTED’s Microfinance Department, before joining OXUS Tajikistan at its creation in 2006. Before managing the Finance Department as Chief Finance Officer, he was Finance Officer of the Sughd Branch.
Tolstoi Street 73, Dushanbe, Tajikistan
Tel: (+992) 37 224 32 28