The Concession

1.   Introduction

AMSA SA (Pty) Ltd  is a registered management company and its concessionaries trade as CashWise,  Bafana Finance and NeWay Financial Services, three distinguished groups in the micro finance industry. 

AMSA's offices operate in terms of the National Credit Act and is regulated by the National Credit Regulator.

As a successful group  AMSA has already assisted hundreds of entrepreneurs to open offices in selected areas, and to establish and develop their businesses with the advantages and protection that a group of this magnitude offers.

AMSA takes pride in offering business opportunities with a good potential, and sound advice and back-up to its franchisees.  It furthermore advocates immaculate ethical conduct, while it is also the market leader with computerised loan and financial management programmes and systems, which has been developed internally.

The concessionaries not only have access to a winning recipe, but also obtain benefits which is inherent  to a large group such as AMSA.  These include negotiating power, bargaining power, national branding, economy of scale, protection, status etc.  Benefits that would not be available to smaller or individual entrepreneurs, and without which they would not be able to survive in future.

AMSA is a founder member of the  MFSA, which is acknowledged and acclaimed by government, and which, as a trade organisation,  advocates ethical and professional conduct in the industry.

Strategic alliances in certain fields, for example with particular financial institutions, contribute to the success of the AMSA group.

2.   Product Range

Products that are presently offered according to the needs of the market, are:

Short term loans  (30 days)

Long term loans (up to 4 months  -  only at specific offices)

3.   Mission and Vision AMSA

The AMSA Mission

The establishment and supervisory management of profitable business opportunities in the form of franchises in the micro and long term financial loan sectors  to selected entrepreneurs.

The AMSA Vision

To become, through professionalism and ethical conduct,  the most important independent role player in the South African micro lending industry.

4.   Micro Finance South Africa (formerly the MLA)

The MFSA is a voluntary association whose members are committed to the advancement and empowerment of their fellow countrymen and  the expansion and development of the economy by offering finance on an ethical, affordable and professional basis.

The MFSA represents large groupings and individuals in the micro finance industry, and is an advocate of a regulated industry, in which instance full co-operation is given to the authorities.  As an association representative of the industry, the MFSA can use its bargaining power in this regard.  

The MFSA plays a fundamental role in order to increase its member's professionalism and standard of service, and to enhance the status of the industry as a prominent role player in the main stream of the South African financial sector.  The MFSA is the mouthpiece and intercessor of its members with the authorities and other role players.

AMSA is a founder member of the MFSA.

5.    Personnel structure

AMSA's personnel consists of 20 members employed in various departments, supplemented by permanent contractual assistance for, for example, legal services and programme development.

6.   Concessionaries

More than 100 concessionaries are in operation countrywide, each with its own office and personnel infrastructure, while management services was also rendered to approximately 60 Thuthukani offices, thus totaling 240 offices.

7.   Background and achievements of AMSA

AMSA is a national micro financing group, in other words a service organisation in the financial sector.   AMSA's client base is the informal sector, a section of the public that is not normally serviced by the formal banking sector.

AMSA provides professional financial services to its clients in an ethical manner and according to a strict code of conduct and specifically determined guidelines, which ensures that a client always borrows within his repayment capacity.  This is one of the reasons why many employers prefer that their employees borrow from the AMSA group. The interest of the employer and the employee is taken into consideration.

Some of AMSA's prominent marketing aids, are the unique and characteristic corporate identities which were established at a considerable cost from day one for CashWise, and later also for the two other franchise  groups.  The corporate identities of each franchise group is protected, and the implementation of a uniform corporate identity for each franchise group, enforced and strictly controlled.

AMSA operates as a well structured organisation with its Head Office and various departments from Naboomspruit in Northern Province.  Departments include Finance, Personnel and Administration, Training, Marketing, Information Technology, Legal Services and Regional Management. 

AMSA is renowned to be the industry leader in various respects. This includes the development of computerised programmes in the form of a unique loan  and financial management and control system (Elfin), which is exclusively available to its franchisees on a national network, as well as a practical system of Regional Representatives whereby offices are continuously guided and trained, and effective management and control ensured.  A Regional Representative is responsible for each of AMSA's 12 operational areas.

Continuous Training of AMSA and franchisee personnel to prepare them fully for their daily tasks, is a priority in the AMSA group.

Marketing is also afforded preference, and is done as stipulated in the different corporate manuals, or according to the annual national-, regional- or local marketing plans.  All personnel, including those at entry level, participate in the compilation of the  marketing plans.

It is the vision of AMSA to serve and expand the micro finance industry in a professional manner, because of the vital role that the industry plays in, for instance,  empowering disadvantaged people  and creating jobs in South Africa. 

8.   AMSA's Social Responsibility.

Because of the fact that AMSA is indebted to the micro lending industry for its existence, it has also accepted its social responsibility and contributes to the upliftment or empowerment of its clients or their communities.  Selective sponsorships of sportsmen such as soccer  teams or boxers, or of cultural groups such as choirs and musicians, are granted.  

In concurrence with the national policy, AMSA contributes to upliftment and job creation throughout South Africa. 

In the AMSA group more than 1200 job opportunities for people from disadvantaged communities have already been created.  These personnel members are trained continuously to empower them and equip them for their important daily tasks.

 9.   Future Vision

After five successful years in the micro finance industry, and a period of continued growth, the future of the AMSA group looks bright.

AMSA will continue to serve its clients in a professional manner with advice and counseling, and to grant loans to those that qualify.

AMSA also advocates the highest ethical and moral practices for the industry, and ensures that none of its clients will end in a debt crises because of the conduct of AMSA.  AMSA therefore supports the MFSA, of which it is a founder member, and the authorities to meaningfully regulate the industry without jeopardising the industry's future  existence on an economic basis. 

Internally it is one of AMSA's specific aims to increase its network of offices countrywide, to expand its product range according to market needs and to exploit other business opportunities in the interest of its franchisees. 

Co-operation with empowerment groups, and international alliances, are not excluded in this regard.

 10.   Why AMSA is preferred by borrowers

AMSA's clients are extremely important to the group, and the reason for its success.  Clients are treated with respect and care, and are rewarded for achievement.

AMSA obtains the co-operation of its clients' employers, to in this manner jointly protect the interests of the client and the employer.

AMSA adheres strictly to the directives of the Exemption of the Usury Act, Act 73 of 1968, in terms of which it operates.

AMSA has control measures in place which ensures that a client can only borrow within his repayment capacity, and which prevents him from entering a debt crises, or over-exploiting his income.  In this regard valuable information on personal money management is relayed to the client. 

AMSA's advanced administrative and computer programmes and systems are accurate and effective, and available on a countrywide network.

AMSA is managed as a business on proper business and financial management principles.

AMSA's clients are informed fully, frankly and confidentially of their loan situations and outstanding amounts, if any.

No administrative levies or application fee's are charged.

AMSA is a founder member of the MFSA and endorses the MFSA Code of Conduct fully.  AMSA is ensured of the MFSA's support in all its actions.

AMSA has many  thousands of  satisfied clients countrywide, which confirms AMSA's status as a professional, efficient, healthy and reputable financial institution.

11.   Available concessions.

Persons who are willing to accept the challenge of an own business, hard work and innovative marketing, will probably be suited to the AMSA business environment.  Full in service training and support are provided.  

Interested persons are welcome to contact one of the AMSA Regional Representatives for further particulars and a possible interview, after which a disclosure document and a formal application form could be supplied to the candidate.