It has always been their goal to meet their customers’ financial needs, but more importantly, to help them realize their full potential and contribute positively to their communities. To that end, Global Communities has created a commercial holding company— Vitas Group—to improve their long-term impact on families, businesses and communities through the provision of financial services.
Vitas consolidates the assets of Global Communities’ locally-registered microfinance companies under one roof, which allows Global Communities greater access to commercial sources of funding including debt and equity investments, as well as technical assistance grants. These resources allow us to improve and expand their existing operations and to research new areas where they can make a real and lasting difference.
To this end, in 2011 Global Communities (then CHF International) signed a landmark agreement with its first minority investor, Bamboo Financial Inclusion Fund, for a 20 percent stake in Vitas Group. Vitas currently houses four subsidiaries—Vitas Romania, Vitas Lebanon Vitas Jordan and Vitas Palestine—and aims to incorporate all other microfinance institutions in the existing Global Communities network, as well as establish new greenfield operations, in the next five years.
Global Communities also furthers access to finance in Bosnia, Colombia and Ghana, through local institutions that are affiliates of the Vitas network. See more