Ficohsa is at the forefront of promoting strong governance and ethical leadership throughout Central America. In a region where corruption presents a barrier to progress, distorting markets and undermining trust, our commitment to combating these challenges is unwavering.
As a dedicated member of the Partnership for Central America, established by U.S. Vice President Kamala Harris, Ficohsa passionately supports the Central America Forward initiative that seeks to strengthen governance, combat corruption, and improve security. Our significant investments in compliance systems and internal auditing, supported by a robust Anti-Corruption and Bribery Management System, ensure that our operations are transparent and our growth is conducted with integrity. And we’re encouraging our clients to adopt the same rigorous policies and procedures.
In this edition, discover how Ficohsa champions ethical business practices—from hosting compliance forums to launching awards that foster innovation among young entrepreneurs and educational programs that empower future generations. Our commitment to doing business the right way is evident in every action we take, helping to drive social and economic growth, increase foreign investment, and pave the way for a more stable, prosperous future.
Ficohsa’s Leadership in Promoting Compliance Culture
Ficohsa played a pivotal role in the recent forum on “Compliance Culture as a Country Vision,” organized by the newly inaugurated Honduras Chapter of the World Compliance Association (WCA). This event, held to promote business integrity, underscored Ficohsa’s commitment to high ethical standards and transparency, crucial for building a just and prosperous society.
The forum featured a panel discussion on “Realities and Challenges of Compliance in Honduras,” moderated by Rodolfo Dumas, Vice President of WCA Honduras, and attended by representatives from UNITEC and the Central American Bank for Economic Integration. Panelists exchanged insights on regulatory issues, ethical conduct, and the significance of ongoing training in compliance. The discussions highlighted how a robust compliance policy is not only a strategic asset for companies but also a key driver of investment and development.
Ficohsa’s comprehensive compliance programs go beyond legal mandates to include voluntary measures like our Anti-Corruption and Bribery Management System. These initiatives are designed to prevent and detect irregular practices, thereby mitigating risks, fostering a culture of business integrity, and contributing significantly to the progress and well-being of society.
Celebrating Innovation: 7th Technological Innovation Award (PIT)
In partnership with the Central American Technological University (UNITEC), Ficohsa was excited to launch the 7th Technological Innovation Award (PIT). This competition celebrates the creativity of young Central American tech entrepreneurs, aiming to drive societal transformation through technological development.
PIT recognizes and rewards projects that promise significant regional impact. This year’s focus areas include Health, Logistics, Digital Transformation, Financial Technology, and Education. The top projects will receive seed capital and UNITEC’s support to develop their business plans.
At the launch event, Angélica Ardila, Regional Vice President at Grupo Ficohsa, and Rosalpina Rodríguez, Rector of UNITEC, both emphasized the program’s role in fostering innovation and empowering young change-makers. “We invite all young entrepreneurs to join this venture and help transform our society through technology,” Ficohsa’s Ardila told an excited audience.
Empowering the Next Generation: Ficohsa Foundation and UJCV Launch New Mentoring Program
The Ficohsa Foundation has teamed up with José Cecilio Del Valle University (UJCV) to launch a mentoring program aimed at enhancing financial literacy among children and young adults. This initiative engages university students in creating educational materials for teachers and parents, significantly enhancing the financial literacy of young learners.
Juan Carlos Atala, President of the Ficohsa Foundation, highlighted the project’s potential: “This collaboration with UJCV embodies our commitment to the transformative power of financial education and aims to equip young minds for a prosperous future.” Julio Raudales, Rector of UJCV, added, “Our joint effort is vital for embedding financial education into everyday life, empowering our students to support national educational initiatives.”
Ficohsa Ranked Among the 5 Most Reliable Brands in Honduras
Ficohsa has been recognized as one of the most trustworthy brands in Honduras, according to a recent study showcased by Estrategia y Negocios magazine in partnership with Datos Group and Pizzolante. The research, which marks the magazine’s 25th anniversary, highlights the significance of business trust—crucial for consumer and investor confidence, and regulatory compliance.
Ficohsa has distinguished itself as a leader within the banking sector, earning the top spot as the most trustworthy financial group in the country. This accolade underscores Ficohsa’s role as a pillar of reliability and trust, and showcases its significant contribution to the economic and social development of the region.
In addition, Camilo Atala, President of Grupo Ficohsa, has been recognized as one of the most ethical business leaders in Central America and the Caribbean by Revista Summa. This award is a testament to Mr. Atala’s integrity, visionary leadership, and commitment to the sustainable development of the region. At Grupo Ficohsa, we are immensely proud of our President’s achievements and his relentless contribution to the social and economic growth of Central America.
Driving Growth: Ficohsa’s Commitment to Women-Led SMEs and Financial Inclusion
Addressing the PCA bi-annual Call to Action with United States Vice President Harris, Luis Atala, Executive Vice President of Banco Ficohsa, reaffirmed Ficohsa’s commitment to significantly expand its SME loan portfolio to $910M within the next five years, with a focus on empowering women-led businesses through preferential loans, tailored insurance options, and comprehensive financial education.
Ficohsa has successfully increased its small and medium enterprise loan portfolio by $60M since joining the Partnership for Central America (PCA) in July 2023, supporting 8,500 new businesses. The bank’s strategy includes investing $50 million in digital services to expand financial inclusion and ensure effective use of remittances in local economies.
Addressing the meeting, Luis Atala, emphasized the importance of these efforts, “Financial inclusion is critical for the long-term development of Central America, enabling entrepreneurs to start and expand businesses, creating jobs and driving development, particularly among women-owned SMEs.”
Mr. Atala further highlighted the bank’s aim to integrate 200,000 more people into the financial system over the next five years, while partnering with organizations like Glasswing International to provide essential banking services to underserved communities.
In 2023, Ficohsa helped launch the Anti-Corruption and Transparency Initiative for Central America Project (ACT Project), a joint initiative of the Partnership for Central America (PCA) and Transparency International (TI). The ACT Project encourages companies in El Salvador, Guatemala, and Honduras to use the OECD Due Diligence Guidance for Responsible Business Conduct as a reference framework to strengthen corporate integrity and investment conditions in the region.
Ficohsa is committed to the PCA Corporate Pledge on the Rule of Law to ensure its business operations in El Salvador, Guatemala, and Honduras do not adversely affect or violate the rights of stakeholders. The ACT Project strives to support members’ compliance with this Rule of Law Pledge; encourage companies to adopt, implement, and monitor transparent and legal business practices; and foster a vibrant and expanding network of corporate integrity in the region.