The Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution of the Saudi Arabia-based Islamic Development Bank (IsDB), and the Caisse des Dépôts et Consignations Deposit (CDC), a financial institution backed by the government of Gabon, recently announced that they have signed a memorandum of understanding for the creation of a private equity fund to support small and medium-sized enterprises (SMEs) in Gabon and elsewhere in Central Africa.
Category: Deals
MICROCAPITAL BRIEF: Grameen Foundation, Freedom from Hunger Announce Merger
Two US-based nonprofit organizations, the Grameen Foundation and Freedom from Hunger, recently announced they will merge into a single organization, retaining the name of the Grameen Foundation.
MICROCAPITAL BRIEF: Oikocredit Increases Equity Stake in Bolivian MFI Banco FIE
Oikocredit, a cooperative “social investment” fund based in Amersfoort, the Netherlands, recently increased its equity stake in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), “more than doubling” its investment in the Bolivian microfinance bank.
MICROCAPITAL BRIEF: EFSE, Netherlands’ Ministry of Foreign Affairs, Rabo International Advisory Services Facilitate Capacity Building Plan for FED Invest to Support Farmers, SMEs in Rural Albania
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on 16 Central Asian and Southeast European countries, in partnership with the Netherlands’ Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS), a subsidiary of Netherlands-based Rabobank Group, recently announced that the EFSE Development Facility will “cover part of the costs of a multi-year capacity building plan” aimed at expanding Albania-based FED Invest’s ability to provide financial services to farmers and small and medium-sized enterprises (SMEs) in rural areas.
MICROCAPITAL BRIEF: European Investment Bank, World Bank Partner to “Boost MENA,” Supporting First-time Entrepreneurs in the Middle East, North Africa
The European Investment Bank (EIB), the Luxembourg-based long-term lender of the European Union (EU), and the US-based multilateral World Bank Group (WBG) recently announced a joint initiative, Boost MENA, to support “first-time entrepreneurs”, particularly women and young people, in the Middle East and North Africa (MENA).
MICROCAPITAL BRIEF: Namibia’s Trustco Borrows $33m from Norsad, EIB, Others
Verdant Capital, a corporate finance firm with offices in South Africa, Mauritius and Ghana, recently arranged debt financing totaling ZAR 450 million (USD 33 million) for Trustco Group, a Namibia-based financial services provider firm.
MICROCAPITAL BRIEF: ACDI/VOCA Registers “Impact” Investment Management Subsidiary AV Ventures and AV Ventures Ghana Fund
Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA), a US-based nonprofit that implements “sustainable international development” projects related to supporting entrepreneurs in developing nations, recently registered a new subsidiary, AV Ventures LLC, which is designed to build “impact” funds that invest in agricultural small and medium-sized enterprises (SMEs) in an effort to promote “more inclusive, responsible supply chains.”
MICROCAPITAL BRIEF: IKEA Foundation Donating $6m to Habitat for Humanity to Improve Homes in India, Kenya
The IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies, recently announced a donation of EUR 5.3 million (USD 6 million) to Habitat for Humanity, a US-based nonprofit that aims to provide safe housing options for people in need.
MICROCAPITAL BRIEF: FMO Provides $10m Credit Facility to Agrofértil of Paraguay for Agricultural Input Financing
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has provided a “medium-term” credit facility of USD 10 million to Agrofértil, a company that provides credit, crop protection products, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay.
MICROCAPITAL BRIEF: EBRD Provides Local-currency Credit Line Worth $7m for MSMEs in Kyrgyzstan Through Kyrgyz Investment and Credit Bank
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will provide a local-currency credit line equivalent to approximately USD 7 million for micro-, small and medium-sized enterprises (MSMEs) in Kyrgyzstan.
MICROCAPITAL BRIEF: EBRD, European Union Launch Agribusiness Program in Tajikistan with $2m in Local-currency for MFI Arvand
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently launched the Enhanced Competitiveness of Tajik Agribusiness Programme (ECTAP), for which they are seeking to raise EUR 42 million (USD 46.5 million) to boost agricultural productivity in Tajikistan via local financial service providers.
MICROCAPITAL BRIEF: Goodwell Disburses Convertible Loan to “Innovative Microfinance Limited” for Expansion in Rural Ghana
Through its Goodwell Microfinance Development Company (MDC) III Fund, Goodwell Investments recently issued a convertible loan of undisclosed amount to Ghanaian microfinance institution (MFI) Innovative Microfinance Limited (IML), which provides credit, savings products, financial education, business development training and environmental advisory services to low-income individuals and microenterprises.
MICROCAPITAL BRIEF: Intellegrow, Symbiotics Launch SME Debt Pool Program by Securitizing $5.3m Bond Issuance Benefiting Indian Entrepreneurs
Intellegrow, an India-based subsidiary of Intellecap Group specializing in venture debt, and Symbiotics, a Switzerland-based firm investing in smaller companies, recently launched a small and medium-sized enterprise (SME) debt pool program, benefiting Indian entrepreneurs from “impact” sectors including, but not limited to, food and agriculture, healthcare, and waste management.
MICROCAPITAL BRIEF: India’s RBL Bank Acquires 10% Equity Stake in Utkarsh Micro Finance
RBL Bank Limited, an institution formerly known as Ratnakar Bank Limited (RBL) that is headquartered in the Indian state of Maharashtra, recently announced its plan to buy a 9.99-percent stake in Utkarsh Micro Finance, a non-banking financial institution based in the Indian state of Uttar Pradesh.
MICROCAPITAL BRIEF: IFC, AFD, Goldman Sachs 10,000 Women to Guarantee $5m in SME Lending by Lebanon’s BLC Bank
The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Agence Française de Développement (AFD), the international development arm of the French government, recently launched the Middle East and North Africa (MENA) SME Risk Sharing Facility, through which the organizations will guarantee loans for small and medium-sized enterprises (SMEs), 20 percent of which are to be issued to enterprises owned and operated by women.
MICROCAPITAL BRIEF: Green for Growth Fund Announces $1.1m Senior Loan to Kosovar Microfinance Institution AFK to Reduce Energy Consumption in Homes, Businesses
The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo.
MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE
Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders.
MICROCAPITAL BRIEF: Kiva, The MasterCard Foundation Announce 5-Year, $7.9m Project to Promote Financial Inclusion in Rural Sub-Saharan Africa
Kiva, a US-based, nonprofit crowdfunding platform for microfinance institutions (MFIs), and The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard Worldwide, recently announced a five-year, USD 7.9 million project to develop loan products and other financial services specific to the needs of smallholder farmers and others living in rural Sub-Saharan Africa.