A Japanese businessman has acquired a majority stake of microfinance company Farmer Union Development Fund (FUDF) and plans to expand its lending to the real estate sector as well as small- and medium-sized enterprises, he revealed yesterday.
Takahashi Akihiro said he purchased a 90 per cent stake in FUDF, which he has renamed as Atom Capital Microfinance Institution and now manages as its chief executive officer. He said the National Bank of Cambodia approved the transaction in April, though declined to disclose the amount he paid for the share.
“I’ve always been interested in the financial industry, so I was sure the business of lending money in Cambodia was a huge potential market for me,” he said.
“Mergers and acquisitions are not so popular in Cambodia yet, but are becoming a good and fast way for foreigners to get into business here.”