Incofin Investment Management, a private Belgian company that invests in microfinance institutions (MFIs) through six investment funds, has recently made debt investments totalling the equivalent of USD 8.75 million in four African MFIs: Promotion of Rural Initiative and Development Enterprises Limited (PRIDE Tanzania); Lift Above Poverty Organisation (LAPO) of Nigeria; Sinapi Aba Trust (SAT) of Ghana; and First Allied Savings and Loans Limited (FASL), also of Ghana.
Category: Deals
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), German’s Bank im Bistum Essen Co-finance $13m Loan for Russia’s Transcapitalbank
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that Bank im Bistum Essen, a German cooperative bank committed to socially responsible lending, has funded a 3-year USD 3 million B loan as part of a USD 13 million loan package for Russia’s Transcapitalbank (TCB).
MICROCAPITAL BRIEF: Appui au Développement Autonome (ADA) of Luxembourg, MicroEnergy of Germany, Partner With Peruvian Microfinance Institutions (MFIs) FONDESURCO, CMAC Huancayo to Finance Clean Energy for Microentrepreneurs
As part of their newly established Energy Inclusion Initiative, Luxembourg-based nonprofit organization Appui au Développement Autonome (ADA) and Germany-based partnership MicroEnergy International (MEI) have recently teamed up with Peruvian microfinance institutions (MFIs) Fondo de Desarrollo Regional (FONDESURCO) and Caja Municipal de Ahorro y Crédito de Huancayo (CMAC Huancayo) to deliver “green energy solutions” for microentrepreneurs.
MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $5m to Microfinance Institutions in Colombia, Kazakhstan, Russia, the Philippines
Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that the Dual Return Fund, a sub-fund of Absolute’s Vision Microfinance, made debt investments totaling USD 5 million in unnamed microfinance institutions (MFIs) in Colombia, Kazakhstan, Russia and Philippines [1].
MICROCAPITAL BRIEF: responsAbility Disburses $4m in Loans and Equity to Bai Tushum of Kyrgyz Republic; Arnur Credit, Bereke of Kazakhstan
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made investments totaling the equivalent of USD 4 million in Bai Tushum of the Kyrgyz Republic, Arnur Credit of Kazakhstan and Bereke of Kazakhstan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund, Africa Capitalization Fund (ACF) to Invest $10m in NBS Bank of Malawi for Lending to Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that two of the funds it manages, the IFC Capitalization Fund and the Africa Capitalization Fund, will invest a total of USD 10 million in equity in Malawian commercial bank NBS Bank (formerly the New Building Society).
MICROCAPITAL BRIEF: responsAbility Loans $749k to Pearl Microfinance Limited of Uganda, Association Al Karama de Micro Credit of Morocco
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investment totaling USD 749,439 in microfinance institutions Pearl Microfinance Limited of Uganda and Association Al Karama de Micro Credit (Al Karama) of Morocco [1].
MICROCAPITAL BRIEF: responsAbility Loans $3m to Microfinance Institutions (MFIs) Hattha Kaksekar Limited (HKL) of Cambodia, Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investment totaling the equivalent of USD 3 million in microfinance institutions Hattha Kaksekar Limited (HKL) of Cambodia and Mitra Bisnis Keluarga (MBK) Ventura of Indonesia [1].
MICROCAPITAL BRIEF: responsAbility Loans $10.5m in Local Currency to ProCredit Affiliates in Ecuador, Mexico; Peruvian Microfinance Institutions Confianza, Crear Arequipa
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made local-currency loans equivalent to the following amounts through its MIVs: USD 2 million to ProCredit Ecuador; USD 2.97 million to ProCredit Mexico; USD 2.05 million to Financiera Confianza and USD 3.5 million to Edpyme Crear Arequipa, the last two of which are microfinance institutions (MFIs) located in Peru.
MICROCAPITAL BRIEF: responsAbility Invests $4.3m in Microfinance Institutions Mikrofin Banja Luka of Bosnia and Herzegovina; the Agency for Finance in Kosovo (AFK); Credo and Crystal, Both of Georgia
responsAbility Social Investments AG, a Swiss for-profit company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totalling USD 4.36 million in microfinance institutions (MFIs) Mikrofin Banja Luka of Bosnia and Herzegovina, the Agency for Finance in Kosovo (AFK), Credo of Georgia and Crystal, also of Georgia.
MICROCAPITAL BRIEF: Indian Microfinance Institution Satin Creditcare Reports $22m in Capital Raises, Securitizations; Upgraded by CARE Ratings to “MFI 2”
Satin Creditcare Network Limited (Satin), a microfinance institution (MFI) headquartered in Delhi, recently announced that it received an upgraded credit rating from India-based CARE Ratings following a fundraising streak totaling INR 1 billion (USD 22.3 million).
MICROCAPITAL BRIEF: Indian Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) Raises $150m from Institutional Investors, Commercial Banks
Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution (MFI) and member of the BASIX Group of companies, has reportedly raised INR 7 billion (USD 150 million) in debt and equity commitments from institutional investors and commercial banks, in what has been described as a “lifeline” by BASIX chairman Vijay Mahajan.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Group’s Multilateral Investment Fund (MIF) Approves $4.9m Package for Root Capital to Support Sustainable Agriculture in Honduras, Guatemala, Nicaragua
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced a USD 4.9 million loan and technical assistance package for Root Capital, a US-based nonprofit social investment fund that serves agricultural businesses that are considered too small and risky for mainstream banks and too large for microfinance funding.
MICROCAPITAL BRIEF: Microfinance Venture Capital Company Advans SA Wins $4m in Grants From Agence Française de Développement (AFD), Oesterreichische Entwicklungsbank AG (OeEB), Part for Democratic Republic of the Congo, Côte d’Ivoire
Advans SA SICAR (Advans SA), a venture capital company specializing in microfinance and managed by Horus Development Finance of France, recently announced the signature of grant agreements with Agence Française de Développement (AFD), a public bilateral development finance institution, and Oesterreichische Entwicklungsbank AG (OeEB), the development bank of Austria, worth a total of EUR 3.1 million (USD 4.4 million) [1].
MICROCAPITAL BRIEF: United Bank of India to Loan $22m to Microfinance Institution Bandhan Financial Services Amid “Opening Up of Bank Credit”
The government-owned United Bank of India (UBI), recently sanctioned a loan of INR 100 crore (USD 22.5 million) to Bandhan Financial Services, a microfinance institution (MFI) in India [1].
MICROCAPITAL BRIEF: Citi, OPIC Loan $20m to Microfinance Program “Danamon Simpan Pinjam” of Indonesia’s Bank Danamon
Citi Indonesia, the Indonesian arm of the global financial services company, and Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, recently announced a USD 20 million term loan to fund a microfinance program of Bank Danamon of Indonesia named “Danamon Simpan Pinjam”.
MICROCAPITAL BRIEF: MICROFIS Obtains Approval as “Listing Sponsor” from NYSE Alternext Stock Exchange, Announces Partnership with Microfinance Rating Agency MicroRate
MICROFIS, a France-based market platform for investors in “responsible finance”, recently obtained accreditation as a “listing sponsor” from NYSE Alternext, a stock exchange operated by NYSE Euronext that connects investors with small and medium-sized enterprises (SMEs) [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC), FMO of The Netherlands to Loan $30m to Costa Rica’s National Cooperative of Educators (Coopenae) for Housing Finance, Support to Small- and Medium-Sized Enterprise (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, will each provide local currency loans of CRC 7.8 billion (USD 15 million) to Costa Rica’s National Cooperative of Educators (Coopenae), a finance company that provides credit, savings and insurance products in the country.