ResponsAbility Social Investments, a Swiss microfinance investment manager, has reached four investment deals with micro banks in Kenya and Peru.
Category: Deals
MICROCAPITAL BRIEF: Ufone Purchases Rozgar Microfinance Bank, to Implement Branchless Banking in Pakistan
Ufone Global System for Mobile Communications (GSM), a subsidiary of Pakistan Telecommunication Company Limited, reportedly has purchased all of the shares of Rozgar Microfinance Bank, a Pakistani microfinance institution (MFI), as part of an effort to offer branchless banking throughout the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Makes $7m Loan to Enda Inter-Arabe Microfinance Institution of Tunisia
The International Finance Corporation (IFC), a member of the World Bank Group that aims to support private-sector development, recently made a local currency loan equivalent to USD 7 million to the microfinance institution (MFI) Enda Inter-Arabe of Tunisia.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $10m to Microfinance Institution AccessBank of Azerbaijan
The European Bank for Reconstruction and Development (EBRD), a London-based international finance institution, recently signed a five-year, USD 10 million loan agreement with AccessBank, an Azerbaijani microfinance institution (MFI).
MICROCAPITAL BRIEF: Hypo Alpe Adria Group, ResponsAbility Social Investments AG Approve Loans Totaling $7m to Microcredit Foundation Prizma of Bosnia and Herzegovina
Hypo Alpe Adria Group, a state-owned Austrian financial group, and ResponsAbility Social Investments, a Swiss investment organization founded in 2003, approved loans of BAM 5 million (USD 3.2 million) and EUR 3 million (USD 3.7 million), respectively, to Microcredit Foundation Prizma, a microcredit organization operating in rural Bosnia and Herzegovina. The funds will be used to expand Prizma’s operations.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends Credit Line to Turkey’s Vakiflar Bankasi (Vakifbank) Worth $25m
European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution established in 1991, has funded small and medium-scale agribusiness in Turkey with a credit line for Turkiye Vakiflar Bankasi (Vakifbank) in Turkish lira (TRL) equivalent to USD 24.7 million.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to ProCredit Bank of Georgia
European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) investing in 16 countries in Europe and Asia, has reported to MicroCapital that it has loaned USD 10 million to ProCredit Bank of Georgia, a bank serving Georgian small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Place Equity Investment, Grant in Microfinance Institution ACME of Haiti
The Multilateral Investment Fund, an autonomous fund administered by the US-based Inter-American Development Bank, has approved an equity investment of an undisclosed amount in Haitian microfinance institution (MFI) Association pour la Cooperation avec la Micro Enterprise (ACME).
MICROCAPITAL BRIEF: Goodwell West Africa Microfinance Development, Adlevo, Omidyar, Acumen, Capricorn Fund Expansion of Paga Money Transfers Across Nigeria
Paga, a Nigerian money-transfer service that was launched in February 2011, has received new equity investments both from its previous investor, Goodwell West Africa Microfinance Development Company, a branch of Dutch company Goodwell Investment, and from new investors Adlevo Capital, a Mauritius-based private equity fund manager; Omidyar Network, a US-based nonprofit investment firm; Acumen Fund, a US nonprofit venture fund; and Capricorn Investment Group, a privately owned, US-based investment manager.
MICROCAPITAL BRIEF: responsAbility Loans $7.8m to ProCredit Moldova, $1.2m to Noa of Albania
In June, responsAbility Social Investments AG, a Swiss investment company, made debt investments totaling USD 7.8 million in ProCredit Moldova, a subsidiary of Germany’s ProCredit Group. As of 2011, ProCredit Moldova has assets totaling USD 150 million, USD 117 million in loans outstanding, return on equity of 8.8 percent and USD 43.6 million customer deposits.
MICROCAPITAL BRIEF: Accion Buys 9% of Microfinance Institution CrediConfia of Mexico for $1.9m
Accion, a US-based nonprofit organization, recently made an equity investment of USD 1.9 million in CrediConfia, a microfinance institution (MFI) providing financial services to microentrepreneurs and low-income households in rural and semi-urban areas of east-central Mexico.
MICROCAPITAL BRIEF: Myanmar Caps Microloan Interest Rates at 17%, Germany’s Savings Bank Foundation for International Cooperation (SBFIC), Philippine’s CARD Fund Mingalar Myanmar, Myanmar Egress Microfinance Projects
Sparkassenstiftung fuer internationale Kooperation (Savings Bank Foundation for International Cooperation, SBFIC), a development organization that finances microfinance institutions (MFIs), and the Centre for Agriculture and Rural Development (CARD), an MFI in the Philippines, recently signed deals to begin microfinance projects with Mingalar Myanmar and Myanmar Egress, two NGOs in Myanmar.
MICROCAPITAL BRIEF: Sthreenidhi of India to Disburse $82m in Education, Livelihood Promotion Loans
Sthreenidhi, an apex cooperative credit society set up in 2011 by the government of the Indian state of Andhra Pradesh, reportedly will disburse INR 450 crore (USD 81.6 million) for livelihood promotion and education and skill development loans.
MICROCAPITAL BRIEF: Ugandan Agribusiness Initiative (aBi) Trust Grants $60k to Masaka Microfinance Development Cooperative (MAMIDECOT) to Open Branch in Rakai
The Agribusiness Initiative (aBi) Trust, a nonprofit in Uganda that supports private-sector agriculture, has contributed UGX 149 million (USD 60,000) to Masaka Microfinance Development Cooperative (MAMIDECOT), a Ugandan microfinance institution (MFI), for the establishment of a new branch in the Bukunda trading centre in Rakai, the district that neighbors Masaka to the west.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $37m to International Bank for Trade and Industry for SMEs in Cote d’Ivoire
The International Finance Corporation (IFC), a member of the World Bank Group that was created to support private-sector development, reportedly has loaned EUR 30.5 million (USD 37.4 million) to the International Bank for Trade and Industry of Cote d’Ivoire (BICICI), a subsidiary of French bank BNP Paribas.
MICROCAPITAL BRIEF: KfW Loans $30m to Microfinance Institution AccessBank of Azerbaijan
Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned development bank in Germany, has agreed to disburse a loan of USD 30 million to AccessBank, a microfinance institution (MFI) based in Azerbaijan.
MICROCAPITAL BRIEF: “SANAD Fund for MSME” Loans $3m to Middle East Micro-Credit Company of Jordan
SANAD Fund for MSME, a Luxembourg-based investment fund, has invested in Jordan for the first time, with a synthetic local currency loan equivalent to USD 3 million disbursed to Middle East Micro-Credit Company (MEMCC), a microfinance institution (MFI).
MICROCAPITAL BRIEF: Triodos Bank Loans $3.7m to Prizma of Bosnia and Herzegovina to Expand its Microfinance Operations
Triodos Bank, a Dutch bank with additional offices in Belgium, Great Britain, Spain and Germany, recently approved a loan in the amount of EUR 3 million (USD 3.7 million) to the Prizma Microcredit Foundation reaching a total of EUR 5 million (USD 6.1 million) loaned by Triodos to the microcredit organization in Bosnia and Herzegovina.