Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned USD 3.65 million to three Indian microfinance institution (MFIs). Grameen Koota, a division of Grameen Financial Services Private Limited founded in 1999, received INR 115 million (USD 2.02 million). Share MACTS (Mutually Aided Co-operative Thrift Society), an Indian credit union founded in 1995 that reported March 2010 total assets of USD 2.05 million, received INR 30 million (USD 527,000). Hope Foundation, an Indian MFI founded in 2005, received INR 25 million (USD 439,000). Current financial information for Hope Foundation is not available.
About Oikocredit:
Oikocredit is a Dutch cooperative investment fund comprised of church groups, social support groups and individual investors. Established in 1975, it works in 70 countries worldwide, investing mainly in microfinance institutions (MFIs), as well as trade cooperatives, fair trade organizations and small and medium-sized enterprises (SMEs) in the developing world. As of year-end 2009 it had USD 665 million in total assets with 790 active investments, of which 543 were in MFIs.
About Grameen Koota:
Grameen Koota is a microfinance institution (MFI) based in Bangalore, India, that was founded in 1999. It is a division of Grameen Financial Services Private Limited and began its operation with funding from Grameen Trust, a non-governmental organization based in India that supports microfinance globally through funding, training and technical assistance. As of December 12, 2009, Grameen Koota provides credit to low-income households through 117 branches in the Indian states of Karnataka and Maharashtra. It is one of the first MFIs to have used Mifos, an open source management information system that aids in the monitoring of borrowers and portfolios. As of March 2010 it had total assets of USD 68.1 million, a gross loan portfolio of USD 52.1 million, 0.40 percent return on assets (ROA) and 2.56 percent return on equity (ROE).
About Share MACTS (Mutually Aided Co-operative Thrift Society):
Share MACTS is an unregulated Indian credit union that was founded in 1995. It provides loans and voluntary savings services. As of March 2010 it had total assets of USD 2.05 million, a gross loan portfolio of USD 1.68 million and 11,375 borrowers.
About Hope Foundation:
Hope Foundation is an Indian MFI that was founded in 2005. The organization implements microfinance and social and community development projects in 3 states and 6 districts of India. It provides financial services including savings, credit and insurance. Current financial information for Hope Foundation is not available.
By Matthew Fox, Research Assistant
Sources and Additional Resources
E-mail correspondence with MicroCapital
MicroCapital Universe: Oikocredit: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oikocredit
MicroCapital Universe: Grameen Koota: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Koota
MicroCapital Universe: Share MACTS (Mutually Aided Co-operative Thrift Society): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Share+MACTS+(Mutually+Aided+Co-operative+Thrift+Society)
MicroCapital Universe: Hope Foundation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hope+Foundation
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