At Triple Jump, we take pride in working with partners who are committed to driving positive change in their communities through financial inclusion, gender equality, and sustainability. Earlier this year, we sat down with two of our key partners, NOA and MCF Mikra, to explore the incredible progress they made in 2023 and their ambitious plans for the future. These two institutions, although operating in different regions, share a common goal: to empower underserved communities while focusing on innovation and social impact.
Microfinance plays a crucial role in providing financial services to those who are often excluded from traditional banking systems. By offering small loans and financial products, microfinance institutions help individuals and small businesses thrive, promoting economic growth and reducing poverty.
About NOA: NOA is one of Albania’s leading microfinance institutions, specializing in providing financial services to micro, small, and medium-sized enterprises (MSMEs) and families. Under the leadership of CEO Herjola Spahiu, NOA has not only expanded its footprint across Albania but also ventured into neighboring Kosovo. With a strong emphasis on gender equality, financial inclusion, and sustainability, NOA is helping to drive economic growth while addressing the social and environmental challenges facing the region.
About MCF Mikra: Based in Bosnia and Herzegovina, MCF Mikra is a micro-credit organization with a strong focus on empowering women and promoting sustainable financial solutions. With Belma Halimić as CFO, MCF Mikra has established itself as a trusted partner for clients seeking to improve their financial well-being through energy efficiency and gender-focused lending products. Mikra’s partnerships have enabled the institution to develop innovative eco-financing solutions while fostering an inclusive financial ecosystem.
Financial growth and innovation: Empowering MSMEs and expanding reach
NOA: NOA made impressive financial gains, increasing financing to MSMEs and families by 25%, reaching EUR 60 million. Their expansion into Kosovo and their groundbreaking bond issuance on the Albanian Stock Exchange, which raised EUR 4.5 million in just three days, exemplify their innovative approach to market growth.
MCF Mikra: MCF Mikra also experienced significant growth, expanding their loan portfolio to EUR 30 million. Through key partnerships, Mikra introduced their eco-financing product, enhancing their ability to provide sustainable financial solutions to communities across Bosnia and Herzegovina.
Gender equality: Creating opportunities for women
NOA: Gender equality remains central to NOA’s mission, with women making up 60% of the company’s workforce and 36% of its clients. NOA continues to support women entrepreneurs through programs like the Foot and Apparel Lending Program (FALP), which aims to help women-owned SMEs grow and thrive.
MCF Mikra: Gender equality is a fundamental value at MCF Mikra. With 65% of employees and clients being women, and strong female representation in leadership positions, Mikra has established itself as a champion of gender-inclusive finance. They are dedicated to continuing this focus as they grow their eco-financing and other financial products.
Climate resilience and sustainability: Preparing for the future
NOA: NOA has been actively working to promote climate resilience, recognizing the impact of extreme weather events on local communities. While 3.5% of their loan portfolio currently supports climate resilience initiatives, NOA aims to increase this figure through educational seminars and climate-resilient loan products. Their focus on sustainability has remained a central focus during their expansions throughout 2024.
MCF Mikra: MCF Mikra’s commitment to sustainability is reflected in their eco-financing efforts, which account for 2.5% of their portfolio. By the end of 2024, they plan to introduce an ESG strategy that will further integrate climate resilience into their operations, helping clients adapt to climate-related risks and increasing the focus on energy efficiency across their portfolio.
Looking ahead
NOA: NOA is focused on leveraging digitalization to reach more rural clients, promote financial inclusion, and expand their impact in sectors like tourism, agriculture, and energy efficiency. In 2024, they included scaling their gender-focused financial products and continued their work in promoting climate resilience.
MCF Mikra: MCF Mikra is preparing for an exciting journey ahead, with plans to scale their eco-financing product, roll out their new ESG strategy, and introduce a loyalty program that includes education for clients. Digitalization will also play a key role in streamlining operations and increasing the efficiency of their services.
