Category: Banks. Country: South Africa.
African Bank Investments Limited ('ABIL'), is a publicly quoted bank-controlling company listed on the JSE Securities Exchange South Africa. Our mission is to create choice, opportunity and growth through the responsible provision of credit. The main focus of the group is to underwrite unsecured credit risk through the provision of personal loans to the formally employed emerging market. ABIL has been a leader in the development of this market, and has to date focused on building a business of critical mass (1,4 million clients) with a broad distribution base as well as developing reliable credit scoring models and efficient collection methods. During this process the market has been through various evolutionary stages, from a simple 'one size fits all' payroll deduction loan to the more recent focus on individual retail debit order style loans that incorporate and allow greater risk and price segmentation. ABIL acknowledges that the market in which it operates will inevitably enter new phases, fuelled by competitive entrants from the big banks, and therefore ABIL's early mover competitive advantage will be challenged. ABIL's ability to sustain its position of market leadership will be dependent on the choices it provides to clients in respect of levels of service, speed of delivery, competitive pricing as well as flexible and innovative product offering. In addition ABIL recognises that the provision of credit has a delicate balance in terms of its impact on society. In the past, a large portion of our society has survived on a wage and cash-based existence without access to financial products and credit. ABIL believes that the responsible provision of credit allows people to: Harness and leverage today's ideas and energy, and to make repayments out of the future fruits of these actions. Manage short-term unpredictable and variable expenditures against steady income streams. Make realistic lifestyle investments and improvements and repay these out of future income streams. However, we also recognise that pushed too far, this can create a future burden of over-indebtedness that outweighs the benefit and utility that the initial credit provides.
Address: 59 16th Road, Midrand, Phone: 27 11 256 9000 Fax: 27 11 256 9217
