COSAMA is the first sanitation company to include its clients in the Positive Register and boost democratization and access to credit in the state of Amazonas
COSAMA's membership includes consumers from 15 municipalities in the interior of Amazonas, totaling 35,138 COSAMA customers
Companhia de Saneamento do Amazonas (COSAMA) is a pioneer in sharing its customers' payment history with the Cadastro Positivo (CP) program, a database that gathers information on financial obligations that have been paid off or are in progress, for both consumers and companies. With this, the state-owned company, which currently serves 15 municipalities in the interior of the state, now shares data with the credit bureaus, authorized by the Central Bank, Equifax | Boa Vista, Quod, Serasa-Experian, SPC Brasil and TransUnion, increasing the visibility of credit for consumers and companies in the region.
Joining the CP represents a significant step forward for the democratization of credit, financial inclusion and economic development in Amazonas, a state where the program has a penetration rate of around 73%. Elias Sfeir, president of the National Association of Credit Bureaus (ANBC), points out that CP is an important tool for inclusion. “The partnership with COSAMA is a pioneer in the sanitation sector and a positive one, because through payment information, it broadens the base of information available for risk assessment, the so-called “citizen's account”. The more data available, the greater the transparency, the more benefits for creditors, borrowers and the economy as a whole. This is an important step towards financial inclusion, through visibility for credit of 35,138 COSAMA clients, This is so that companies can invest and consumers have credit as a viable and fairer option for each profile, always encouraging sustainable credit, of course,” says Sfeir.
“COSAMA's adhesion to the Positive Registry is something pioneering and will undoubtedly bring good results for the state's economy because it will help the company to manage consumer information, as well as enabling new credit actions for the population that is in default,” said the governor of Amazonas, Wilson Lima.
According to Denison Gama, CEO of COSAMA, the inclusion of these consumers in the CP will bring significant benefits to the Amazonian population. “Joining the Positive Registry will bring direct benefits to COSAMA's customers and to the entire population of Amazonas. In addition to expanding access to credit and stimulating the local economy, this initiative will allow our users, especially in the cities where we operate, to have more financial opportunities. This is very positive for the Company, for consumers and, especially, for families and businesses in Amazonas,” says Gama.
The financial visibility generated by the CP also favors a reduction in adherence to the social tariff, since more stable socio-economic conditions can lead to greater inclusion in the credit market, with a direct impact on improving the population's quality of life. “The participation of sanitation companies in CP brings lasting benefits for the local economy and social well-being,” adds the ANBC president.
Once COSAMA joins the program, the legal, technical and operational tracks come into play to implement the CP, as has already happened with financial institutions, telecommunications and energy companies. “The sanitation sector's engagement began more than three years ago through associations such as the Brazilian Association of State Sanitation Companies (AESBE) and the National Association and Union of Private Concessionaires of Public Water and Sewage Services (ABCON SINDCON), as well as directly with state and private companies in the sector. Given the economic and social benefits of the CP program and the moment when credit is becoming increasingly necessary, we call for the speedy entry of the other sanitation companies so that visibility and access to credit can be democratized!” said Sfeir.
What is the Positive Registry?
It is a database with information on credit and financial obligations paid or in progress by individuals and companies. It was established by federal law in 2011 and underwent some changes in 2019, making insertion automatic. This register gathers the credit history of consumers and companies, such as financing, credit cards, loans from banks, businesses or telephone, electricity and water bills. The Cadastro Positivo allows consumers to be identified as good payers - even if they don't have a proven income - and to obtain new credit with less interest on loans and financing. It works like this: companies can offer less interest to consumers who pay their bills on time.
About COSAMA
Companhia de Saneamento do Amazonas - COSAMA is a mixed-capital company under private law as a joint-stock company, and was created in November 1969. Its first board of directors took office on November 13, 1969. The company's purpose is to collect, treat and distribute water for human consumption. Its activities also include studies, projects and the execution of works relating to new installations and the expansion of networks. The company is also responsible for setting tariffs and fees for its services, collecting them and adjusting them periodically to cover the amortization of its investments and pay its operating and maintenance costs, as well as allowing it to accumulate reserves to finance the expansion of its activities. COSAMA is present in 15 of the 62 municipalities in the state of Amazonas.
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