Prosperous Capital & Assurance Limited (PCA) will be celebrating their third anniversary on Monday and it functions as a fully-fledged Micro Finance Company with an asset base of Rs. 300 million. It’s also planning to go global soon.
“Our target is to increase our current customer base from 7,000 to 50,000 by end 2018 and we have also set a target to increase our asset base by 100% to Rs. 3 billion by then,”said Madhawa Edussuriya, Managing Director PCA.
Enabled by 20-year experience and know-how in the finance industry, Prosperous Capital & Assurance Limited (PCA) began its foray into the Micro Finance industry in October 2013, in Colombo.
In August 2014 the first branch was opened in Sooriyawewa, a rural town in the southern region of the island. This venture can be regarded as one among firsts in the finance industry involving a region where micro finance had not yet penetrated. Home to a relatively new and diverse community.
Thereafter, the functions and mechanisms of PCA were decentralized with nine other branches disbursed across various parts of the island.
“Empowering women became innate to our operational capacities as well. Early on we made the conscious decision to recruit young women between the ages of 18-24 to fill the roles of Development Officers."
"This was a strategic move in our evolutionary journey to improve client protection and accessibility to women entrepreneurs. This change no doubt sets us apart within the finance industry in our resolve to effect change.”
“We play a critical role in the sustainable development of the country in fulfilling these shortcomings to empower people. Financial assistance is thus provided to acquire seeds, fertilizer, pesticides and weedicides, farming equipment, harvesting and packing technologies and transportation to major markets at the village level.”
They currently have 9 branches in Sooriyawewa, Beliatte, Tissamaharam, Narammala, Ratnapura, Kasbewa, Kobeigane, Kaluthara and Jaffna.
Within a short period PCA, won both local and global accolade with both International Finance Magazine Review Awards 2015 and Global Banking & Finance Review Awards 2015 picking them as the Best new micro finance & small enterprise finance provider in Sri Lanka in 2015.
Enterprise Asia Award 2016 saw the institution being recognized for their - Women empowerment.
PCA also obtain the ISO 9001:2008 Quality Management Certification awarded for the operational quality of the company by SGS, UK.
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| PCA team |
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