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Local MFI Relaunched After South Korean Buyout

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Cambodia’s booming microfinance sector continues to attract international investors, with a South Korean financial institution the latest to buy out one of the Kingdom’s myriad microlenders.

The Seoul-based Welcome Financial Group (WFG) announced on Friday that it had acquired the full shareholding of Green Central Microfinance Ltd for an undisclosed sum, and rebranded it Welcome Finance (Cambodia).

The rebranded microfinance institution (MFI) launched operations on Friday.

Lee Sang-kook, chief executive officer of Welcome Finance (Cambodia), said the acquisition was part of his company’s strategy to capture growth opportunities in Cambodia where the financial sector is enjoying high growth.

For more on this story visit the following link: Local MFI Relaunched After South Korean Buyout

Source: The Phnom Penh Post

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