The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women.
Category: Deals
MICROCAPITAL BRIEF: International Finance Corporation Investing Up To $70m in Debt in India-based Microfinance Institutions Grameen Koota, Janalakshmi Financial Services
The International Finance Corporation, a member of the World Bank Group, recently announced that it will invest up to INR 1.4 billion (USD 20 million) in Grameen Financial Services Private Limited and INR 3.4 billion (USD 50 million) in Janalakshmi Financial Services (JFS), Bangalore-based microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $420k to Burkina Faso’s ASIENA, $330k to Agora Microfinance Zambia
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs), recently informed MicroCapital that it is loaning the local-currency equivalent of EUR 380,000 (USD 422,000) over three years to
MICROCAPITAL BRIEF: Sanad Fund Loans $10m to NBK-Egypt for SMEs
The Sanad Fund for MSME (micro-, small and medium-sized enterprise), a Luxembourg-based partnership that provides loans to financial institutions in the Middle East and North Africa, recently loaned USD 10 million to National Bank of Kuwait-Egypt (NBK-Egypt), the Egyptian unit of NBK.
MICROCAPITAL BRIEF: Incofin’s AgRIF, DWM’s Inclusive Finance Equity Fund II Invest $4m in Crystal, a Georgian Microfinance Institution Focusing on Rural Areas
The Agricultural Rural Impulse Fund (agRIF) together with the Inclusive Finance Equity Fund II recently acquired share capital valued at GEL 9 million (approximately USD 4 million) in Joint Stock Company Microfinance Organization Crystal (Crystal), a Georgian microfinance institution.
MICROCAPITAL BRIEF: Kenyas’ Sidian Bank, Zohari Leasing to Finance Uber Driver’s Vehicles
Uber, a US-based car hailing service, and Sidian Bank, a Kenya-based commercial bank, recently announced they will support Uber drivers in the purchase or lease of new vehicles.
MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $9.6m to Microfinance Institutions (MFIs) in Bolivia, Cambodia, Colombia, Ecuador, India, Indonesia, Paraguay, Zimbabwe
During April 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 9.6 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Bolivia, Cambodia, Colombia, Ecuador, India, Indonesia, Paraguay and Zimbabwe. USD 2 million of this total was invested in an MFI based in Phnom Penh, Cambodia, which has 181 service points and provides financial services to clients in rural regions of the country. Financial information on the organization is not available.
MICROCAPITAL BRIEF: Equator Capital Acquires Minority Interest in Kenya’s Jamii Bora Bank
Equator Capital Partners LLC, a US-based fund manager, through its fund ShoreCap II Limited, recently acquired a minority interest in Jamii Bora Bank Limited, a commercial bank based in Kenya whose customer base is made up primarily of micro-savers and borrowers.
MICROCAPITAL BRIEF: Fairassets, Owner of Indian On-line Peer-to-Peer Lender Faircent, Sells Equity Stakes to Investors Including JM Financial, Aarin Capital, M&S Partners
JM Financial Limited, a financial services firm based in India, recently announced that it has acquired, through its subsidiary, JM Financial Products Limited, a 9.84-percent equity stake in Fairassets Technologies India Proprietary Limited, a peer-to-peer (P2P) lending company.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $22m to Fibabanka of Turkey to Support Micro-, Small-scale Agriculture
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Fibabanka, a Turkish commercial bank, EUR 20 million (approximately USD 22 million) to finance micro- and small enterprises (MSEs) working in the Turkish agricultural sector.
MICROCAPITAL BRIEF: ResponsAbility Investments Loans $15m to Trustco of Namibia for Education Funding
ResponsAbility Investments AG, a Swiss company specializing in investments in areas such as fair trade, recently informed MicroCapital that it has agreed to loan USD 15 million to Trustco Group Holdings Limited (Trustco), a company based in Windhoek, Namibia, that specializes in microfinance, micro-insurance and financial education.
MICROCAPITAL BRIEF: India’s Janalakshmi Sells $7.5m in Securitized Microloans to Government-backed MUDRA, Arranged by IFMR Capital
IFMR Capital, an affiliate of the Chennai-based nonprofit Institute of Financial Management and Research (IFMR), recently structured the first capital market transaction for the Micro Units Development & Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans and other services to microfinance institutions (MFIs) and non-banking financial institutions (NBFCs).
MICROCAPITAL BRIEF: World Bank, Rabobank Foundation Seek to Replicate Consolidation of Agricultural Cooperatives in Albania
The World Bank, member of US-based multilateral World Bank Group, and the Rabobank Foundation, the “social fund” of the Dutch bank Rabobank, recently teamed up to consolidate agricultural cooperative financial institutions (CFIs), organizations set up by farmers to gain access to financing.
MICROCAPITAL BRIEF: TPG Leads $150m Funding Round for Indian Microfinance Institution Janalakshmi
US-based private equity firm TPG has led a funding round in which Indian microfinance institution Janalakshmi Financial Services (JFS) raised USD 150 million.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Provide Technical Assistance, $2.8m Loan to Microcredit Foundation MI-BOSPO of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Microcredit Foundation MI-BOSPO, a nonprofit microfinance institution in Bosnia and Herzegovina, EUR 2.5 million (approximately USD 2.8 million).
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Lends $17m to Finansbank of Turkey, Half for Micro-, Small Enterprises
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently extended a loan facility totalling EUR 15 million (approximately USD 17 million) to Finansbank A.S., a Turkish subsidiary of the National Bank of Greece Group, a financial conglomerate based in Athens.
MICROCAPITAL BRIEF: VisionFund International Buying Majority Equity Stake in Opportunity’s Microfinance Institution in Democratic Republic of Congo
Pending regulatory approval, VisionFund International, a US-based affiliate of the Christian humanitarian organization World Vision International, recently agreed to purchase a majority stake in Opportunity International’s (OI’s) microfinance institution (MFI) in the Democratic Republic of Congo (DRC).
MICROCAPITAL BRIEF: Small and Medium Enterprises Development Agency of Sierra Leone to Lend to SMEs at Single-digit Interest Rates without Collateral
The Small and Medium Enterprises Development Agency of Sierra Leone (SMESL), which was established by that nation’s parliament in 2015 [2], recently announced it will provide loans at interest rates below 10 percent per year without a collateral requirement, in an effort to strengthen small and medium-sized enterprises in the country.