For an undisclosed price, Base of Pyramid Asia (BOPA), a Singapore-based equity investor in small, Asian microfinance institutions (MFIs), recently purchased a 25-percent stake in Elet-Capital, a Kyrgyzstan-based MFI. BOPA CEO Christian Andersen said, “…we look forward to making economic and social impact together with our partner Elet-Capital.” Elet-Capital CEO Ernest Kamchybekov said the investment “[strengthens] Elet-Capital and increases its capacity to reach out to a growing number of clients.”
Founded in 2005, Elet-Capital is based in the city of Bishkek. As of 2013, Elet-Capital reports to the US-based nonprofit Microfinance Information Exchange assets of USD 5.4 million and a gross loan portfolio of USD 5.1 million. Elet-Capital does not accept deposits. As of 2015, the institution serves 10,000 clients.
Founded in 2013, BOPA holds stakes in MFIs in Cambodia, East Timor, Kazakhstan, Kyrgyzstan, Myanmar and Vietnam.
By Meredith Steih, Research Associate
Sources and Additional Resources
[1] Direct communication with BOPA
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