25 years, NOA

I have had the privilege to be part of NOA for the last decade and I must admit, it has now become an irrefutable part of who I am, as a person and professional. The same feeling is shared by numerous colleagues, some of whom have been part of NOA for 20 years now! A success story that resonates a true #HumanFinance because it is us, militants of a sustainable development, advocates of social lending, promoters of rural cohesion, bankers of small businesses… it is us today that celebrate a shared milestone, a shared anniversary, a shared journey towards the accomplishment of what was once ‘a mission impossible’. From a small USAID project to a leading MFI employing 333 staff! NOA is celebrating its 25th anniversary and we are proud to have embarked on such an exciting journey towards becoming a true regional microfinance leader.

Our success ingredients are as basic as every good receipt. Less is more, simple is best. Less processing time and less bureaucracy for our customers implies a higher degree of access to finance. Simple communication and processing, internally and towards our customers, implies a higher level of customer satisfaction. 25 years have passed since we first introduced this concept. All NOA’s staff is proud to say that we have achieved to remain faithful to these concepts and our founding mission in guaranteeing to everyone, and everywhere, a genuine access to all sort of financial products. Reaching an active portfolio of appx. 90 million euros and 16,850 customers by the end of 2023, imposes on us a sense of higher humility and responsibility in ensuring the capacity to remain faithful to these engagements even for the incoming decades.

A method that has been backed by innovative technological solutions capable of supporting the scaling up of NOA’s activity up to manage hundreds of thousands of data sets. Yes, NOA was the first company in Albania to introduce mobile tablets for its clients; the first to work on fully virtual database; the first to issue both, a public and private bond; the first to introduce a digital contact point; the first to implement a full cycle of biometric certification… We had to be also more adaptive than banks to ensure that we were offering precisely what our customers were looking from a financial institution like ours. Innovation was part of this demand, but also more proximity, advisory, risk sharing and financial products that correspond to unexpected market developments. It is thanks to this flexibility and these accomplishments that we achieved to showcase our ethos & ethics and consolidate a network of local and international partnerships that we are genuinely very proud of and thankful for the trust they have invested in us.

Opening a branch in Kosovo in parallel to receiving the Client Protection Certificate was a highly symbolic moment as part of this 25th anniversary. Still, numerous activities have been planned during this year and hope you will be able to follow us in person or keep up through our digital channels. We don’t want just to celebrate our past, but also plant the seeds of our future so stay tuned!

Herjola Spahiu
Executive Director