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Ficohsa Among 25 Dynamic Companies Profiled by Forbes

In September, Ficohsa was listed among a Forbes profile of 25 dynamic Central American companies that are adapting uniquely to challenges such as obtaining and retaining personnel and the decarbonization of economic activity in the region, while investing in technology and sustainability.

According to Forbes, in June the risk rating agencies Moody’s and Pacific Credit Ranking raised Ficohsa’s profile due to its good operational performance in 2022 and the sustained growth of its portfolio and low levels of delinquencies.

Camilo Atala in American Banker on the need for greater support for small businesses

In September, Ficohsa President Camilo Atala was published in American Banker calling for the United Nations General Assembly to discuss stemming migration by giving small businesses the financial services they need to succeed.

In a guest article, he described how the development of small and medium enterprises (SMEs) – the lifeblood of Central America – would support job creation, entrepreneurship and an expansion in financial inclusion.

According to Camilo Atala, the UN can help by eliminating technological barriers, promoting initiatives to increase financial inclusion, supporting the expansion of microfinance, providing guidelines and best practices for sustainable banking, harmonizing international rules and regulations, and encouraging greater cooperation to fight against illicit financial flows.

Summarizing, Camilo Atala said, “Helping Central American banks to better support their citizens would enable the U.N. to make considerable progress on its 2030 Agenda for Sustainable Development in this part of the world.”

Supporting Young Entrepreneurs in Central America

Ficohsa has joined forces with the Tegucigalpa Chamber of Commerce and Industry, the International Organization for Migration, and Glasswing International to support the Young Leaders of Impact for Central America, a program of The Howard G. Buffett Foundation and Glasswing International that is helping 50 young entrepreneurs to start and expand their businesses.

As part of the alliance, Ficohsa will lead a Financial Education Program to help the entrepreneurs to improve their personal and business finances.

Daniel Fortín of the Chamber of Commerce and Industry of Tegucigalpa commented, “We are pleased to be part of initiatives that aim to train and guide entrepreneurs – the pillar of the country’s economy.”

Celina de Sola from Glasswing International, said “This initiative is unleashing the enormous potential of these young people, not only as entrepreneurs but also agents of positive change in their communities.  Ficohsa has had the vision of investing in a population that is traditionally socially and economically excluded, but who – in reality – are the engine of the development of our countries.”

Luis Atala, Vice president of Ficohsa, added, “Ficohsa has been supporting the Young Impact Leaders in Central America program since 2022, providing financial services and helping young people to enter the market.  With financial education, they can make better decisions regarding the management of their finances.  We will continue promoting, through financial inclusion and entrepreneurship, support for the growth, innovation and development of small and medium-sized businesses in the country.”

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