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About Emporia, Inc. (OTC: EPRA)
Emporia, Inc. p.k.a. Sorell Inc. acquired the business of Commonwealth Inclusive Growth Services Ltd. CIGS through a slump sale of CIGS business assets and the assumption of certian liabilities to Sloan Management Advisory Services India Private Limited Sloan . CIGS was formed in January with the vision is to bring the majority of the economically active adult population of India into formal banking system, by leveraging technology and innovative business processes. Today, in India, only of the population across the country have bank accounts. Emporia s management believes that Financial inclusion FI will be a key determinant of sustainable and inclusive growth in India. Emporia through its wholly owned subsidiary, Sloan, is an alliance of wills, knowledge, expertise and technology that has been fostered by Commonwealth Business Council CBC to create a valid business case and to find an effective solution to the issues of those without access to banking services. The proposed business model of Sloan is growth centric and self sustaining, benefiting all the stakeholders of Emporia. The flagship product of Sloan, the Commonwealth FI Solution, promotes financial inclusion through a network of Business Correspondents/Facilitators and fulfils the basic financial needs such as cash deposits, withdrawals and services for those excluded by traditional banking channels. The Commonwealth FI Solution can also provide a safe and secure platform for Pensions, NREGA and other payments on behalf of the Government to be delivered to intended beneficiaries.
- Adian Gleave / President, CEO
- Peder K Davisson / Counsel
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