Alliance Microfinance

What Alliance Microfinance does

Alliance Microfinance AS (AMAS) is a non-profit microfinance management company headquartered in Oslo, Norway, and wholly owned by the Norwegian faith-based development organization Mission Alliance (Misjonsalliansen). It functions as a holding and oversight entity for microfinance institutions serving poor and marginalized communities in developing countries, applying what it terms the 'AMAS-way': taking controlling stakes, holding board positions, and working closely with subsidiary MFIs on governance and social performance. The company's core business is operating licensed microfinance institutions — most notably Diaconia IFD in Bolivia (a deposit-taking financial development institution with 65 agencies, 900+ employees, and a digital savings platform since February 2023) and MOM in Vietnam's Mekong Delta (group loans of USD 250-500, 6 branches, serving approximately 31,746 active clients with a NOK 132.8M loan portfolio as of 2025). AMAS also acts as lead partner and grant manager for the Norad-funded Ethiopia Connect project (signed 2021), a digital agri-bank consortium with Norwegian Church Aid, Bakken & Bæck, and East African Group targeting urban farmers in greater Addis Ababa.

The business model combines three revenue streams: interest income on microloans at the subsidiary MFI level (business, agricultural, consumption, housing, and group loans priced per transaction), savings mobilization (compulsory and voluntary interest-bearing accounts), and grant management income (AMAS's management fee for distributing Norad-style development grants). Go-to-market is partnership-driven: AMAS relies on community-embedded organizations — 300+ Women's Union officers in Tien Giang, Norwegian Church Aid's 40+ year presence in Ethiopia, East African Group's supermarket network — to identify, organize, and serve client groups. Pricing and interest rates are tailored to each country and based on Christian/diaconal principles; they are not publicly disclosed. The technology stack includes the digital agri-bank platform, mobile/digital wallet infrastructure built with Bakken & Bæck (the Norwegian fintech that built Vipps), a digital trading app for Ethiopian smallholders, and Diaconia IFD's digital savings platform.

In early 2024 AMAS executed a significant portfolio rationalization, selling Banco D-Miro in Ecuador to Invatlan (April 2024) and Diaconia MDI in Liberia to Bay Finance Invest (January 2024), after management concluded both entities needed additional capital to scale. Proceeds are reinvested into the remaining portfolio (Bolivia, Vietnam) and the Ethiopia digital agri-bank initiative. The company is privately held with no venture or institutional outside capital; parent Mission Alliance is the sole shareholder, and the AMAS board chairman simultaneously serves as Mission Alliance's General Secretary.

Name

Alliance Microfinance

Legal name

Alliance Microfinance AS

Website

https://amas.as

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Alliance Microfinance AS (AMAS) is a Norwegian non-profit microfinance management company wholly owned by Mission Alliance that operates licensed microfinance institutions serving poor and marginalized communities across Bolivia, Vietnam, and Ethiopia via partnership-driven, community-embedded distribution and a growing digital agri-bank platform.

Ownership category

akta.pro rank

Product category

Microfinance

NAICS

Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)

akta.pro secondary industries

Microloans & Working Capital Loans (FSAKAGAA), Microenterprise Group Lending (Joint Liability) (FSAKAGAH), Agricultural & Rural Microfinance (FSAKAGAG), SME, Microfinance & Financial Inclusion Facilities (BPADACAI)

Keywords

• Microfinance services
• Microloan products
• Financial inclusion
• Savings mobilization
• Micro entrepreneurship

Headquarters

HQ city

Kristiansand

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Microfinance Lending: Interest income from microloans to underserved entrepreneurs and small businesses. Products include business loans, agricultural loans, consumption loans, housing loans, and group loans ranging from $250-$500 with 12-18 month terms.
2. Savings Mobilization: Deposit-taking services from customers. Savings products include compulsory and voluntary (interest-bearing) savings accounts, mobilized through digital platforms and branch networks.
3. Grant Management: AMAS serves as lead partner and grant manager for development projects, including Norad-funded initiatives like Ethiopia Connect. Revenue derived from grant agreements for project management.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

Alliance Microfinance AS (AMAS) is a non-profit microfinance management company that owns, governs, and manages microfinance institutions serving poor and marginalized populations in developing countries. It delivers group loans ($250–$500), business/agricultural/consumption/housing loans, compulsory and voluntary savings accounts, entrepreneurship training, and digital financial services through licensed subsidiaries and partnership-operated branches in Bolivia (Diaconia IFD), Vietnam (MOM), and Ethiopia (Ethiopia Connect digital agri-bank).

Product overview

Alliance Microfinance AS (AMAS) is a non-profit microfinance management company dedicated to creating positive social impact through financial inclusion. The company operates a portfolio of microfinance institutions across Latin America, Africa, and Asia. Current core operations include MOM in Vietnam (group loans, savings, training), Diaconia IFD in Bolivia (credit products, digital savings), and the Ethiopia Connect digital agri-bank project. Past operations included Banco D-Miro in Ecuador and Diaconia MDI in Liberia, both of which have been sold to new owners. The AMAS business model involves taking controlling stakes in investments and maintaining board positions to oversee performance and social outcomes.

Differentiator

Problem solved

Functional benefit

Products and services

• Diaconia IFD (Bolivia microfinance operations) Licensed microfinance institution offering business loans, agricultural loans, consumption loans, and housing loans (including mortgage and non-mortgage) along with digital savings products, operated through 65 agencies with more than 900 employees serving MSMEs and poor clients across Bolivia.
• Mekong Organization of Microfinance (MOM) Vietnamese microfinance institution offering group loans of $250–$500 with 12–18 month terms, compulsory and voluntary (interest-bearing) savings accounts, and entrepreneurship training programs to poor women and micro-entrepreneurs in the Mekong Delta, operated through 6 branches with support from 300+ Women's Union officers.
• Ethiopia Connect Digital Agri-Bank

Quantifiable outcome

• 31,746 active clients served in Vietnam with NOK 132.8M loan portfolio
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Norwegian Church AidcoreStrategic or Co-development Partner · 1 January 2021Norwegian Church Aid is a key strategic partner in the Ethiopia Connect project, bringing 40+ years presence in Ethiopia and strong reputation with government and local communities. Mobilizes and trains farmers, provides production materials and training.
• Bakken & BæckcoreTechnology or Integration · 1 January 2021Norwegian technology company that developed Vipps payment solution. Responsible for designing digital solutions for the Ethiopia Connect digital agri-bank platform, including brand development and product portfolio.
• East African Group / East African Trading HousecoreStrategic or Co-development Partner · 1 January 2021Leading industrial conglomerate in Ethiopia and local partner for Ethiopia Connect. Provides market access through supermarket chain, logistics and distribution capabilities, and engages with farmers/producers.
• Women's Union of Tien Giang provincecoreStrategic or Co-development Partner · 1 January 2002Initiated MOM microfinance operations in Vietnam in cooperation with the Women's Union. More than 300 WU officers support MOM operations including client identification, organizing group meetings, project follow-up, and collection of repayments.
• DigniminorOthersNon-profit organization partner listed on Partners & Sponsors page.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alliance Microfinance