ASA International Group (ASAI) H1 2025 TU earnings summary

Executive summary

• Achieved robust operational results in Q2 2025, continuing positive momentum from 2024 into 2025.

• Total clients reached 2.6 million at end of Q2 2025, up 1% from Q1 2025 and 9% year-over-year, with growth led by Uganda, Kenya, Ghana, Tanzania, and Nigeria.

• Ongoing divestment of India operations, targeting full deconsolidation by December 2025.

Financial highlights

• Gross Outstanding Loan Portfolio (OLP) rose to $539.5m as of June 30, 2025, up 16% from Q1 2025 and 37% year-over-year.

• Ghana's OLP increased by $59m in Q2 2025, driven by portfolio growth and a 33% appreciation of the Ghanaian cedi.

Segment performance

• West Africa OLP grew 146% year-over-year, with Ghana as the main contributor.

• East Africa OLP increased 31% year-over-year, with Uganda, Tanzania, and Kenya showing strong growth.

• Southeast Asia OLP rose 22% year-over-year, with Myanmar and the Philippines contributing.

• South Asia saw a deliberate reduction in client numbers due to the planned India divestment.