Gojo & Company, Inc. (Gojo) is pleased to announce its first investment in Tajikistan which marks its entry into the Central Asian region. Gojo has invested USD 6 million to acquire a majority stake in Closed Joint Stock Company (CJSC) Microcredit Deposit Organization (MDO) "HUMO" (Humo), one of the fastest growing microcredit deposit organizations in the country. The investment in Humo will be instrumental in increasing access to financial services for clients living in remote regions of the country through continued technological transformation of Humo.

Apart from various lending products, Humo offers deposits and savings accounts, internal and external money transfers, settlement and exchange transactions. More recently, Humo has embarked on the digitization strategy making it one of the most tech forward MDOs in Tajikistan. Humo’s suite of digital products include a multilingual mobile banking app, payment cards, agent banking services, and quick digital loans through its Orzu platform.

Firdavs Mayunusov, General Director of Humo, mentioned, “Gojo is well aligned with Humo’s mission of extending financial inclusion. Gojo not only recognizes the technological advances and innovations that Humo has been introducing over the past years, but also infuses additional capital to take Humo to greater heights within the country and beyond. We are delighted to have a like-minded partner join us in this journey.”

Speaking on the investment, Sanjay Gandhi, Co-founder and Chief Investment Officer of Gojo, said that “We are extremely pleased to have partnered with Humo. It is not only the second largest MDO in the country, but also emerging as one of the best fintech neo-banks in the region. We see Humo as our partner in promoting Gojo’s mission for providing financial inclusion, not only in Tajikistan but across Central Asia as well.”

With this infusion, apart from strengthening its position in Tajikistan, Humo also plans to expand its operations into other Central Asian countries. ABG Legal Advisors acted as the Transaction Legal Advisor and RSM Tajikistan acted as financial advisor to Gojo.

With Humo joining the group, the number of loan clients of Gojo Group Companies has passed 1 million as of December 2021.

Gojo will strive to extend financial inclusion further, to reach the goal of 100 million people by 2030.

About Humo

Closed Joint Stock Company Microfinance Deposit Organization "HUMO" (Humo) is one of the leading microfinance organizations of the Republic of Tajikistan and one of the top 5 financial organizations in terms of loan portfolio among banks and microfinance organizations. Humo provides a wide range of financial services through accessible channels to the population. Positioning itself as a fintech, the organization places a tremendous emphasis on social aspects. To encompass all layers of the population, Humo presents an opportunity to its customers to use the mobile wallet - Humo Online with mobile banking features. MF-Rating assigned to Humo high institutional rating A- and high social rating sA-, indicating reliability, sustainability and social responsibility. 

For more on Humo, please visit: https://www.humo.tj/en/ 

The Humo team / Humo

About Gojo

Gojo is a Tokyo-based holding company of inclusive financial service providers.  Since 2014, Gojo has invested in eight entities, operating in Cambodia, Myanmar, Sri Lanka, India, and Tajikistan. Gojo was founded to extend financial inclusion to everyone in the world. Gojo encourages the formalization and growth of micro, small, and medium-sized enterprises (MSMEs). Our long-term goal is to enable the provision of high-quality affordable financial services for 100+ million unserved and underserved people in 50+ countries by 2030. Established in 2014, Gojo is serving more than 1million clients and managing the aggregated AUM of USD 516 million with 7,000+ employees.