Incofin Investment Management of Belgium recently invested USD 2.7 million to purchase a stake of undisclosed size in SuperZop, a technology firm that helps farmers and mills sell their whole grain, flour and other staples to restaurants and shops in India. SuperZop also packages food under its Khetika brand and provides
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MICROCAPITAL BRIEF: Bamboo, CABEI, IFC Exit Holdings in Banco Popular as Incofin, Triple Jump Buy In; BIO, FMO Increase Equity Stakes to Boost Rural Microfinance in Honduras
Approximately 64 percent of the shares of the Honduran microfinance institution Banco Popular are changing hands as two multilateral institutions that first invested in Popular in 2007 are exiting their holdings. The sellers are the Central American Bank for Economic Integration; the World Bank Group’s International Finance Corporation; and Bamboo Capital, which has been an investor in the microbank since 2012.
Popular serves 60,000 clients and reports
MICROCAPITAL BRIEF: Sahyadri Farms of India Raises $39m in Equity from Incofin, FMO, Korys, Proparco to Boost Smallholder Farmers’ Exports of Fruits, Vegetables
The Belgian impact investor Incofin recently led an investment round in Sahyadri Farms, an Indian firm that works with smallholder farmers to grow and process food for export. The value of the equity round is INR 3.1 billion (USD 39 million), including participation from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); Korys, the impact investing firm of Belgium’s Colruyt family; and the French government’s Société de Promotion et de Participation pour la Coopération Economique (Proparco).
Sahyadri Farms is a “farmer-led” firm that buys nine crops from 18,000 farmers who tend
MICROCAPITAL BRIEF: Incofin Invests $6m in Peer-to-peer Lender Amartha from Inclusive Finance Fund, Microfinance Enhancement Facility (MEF) to Increase Group Lending to Female Entrepreneurs in Rural Indonesia
Amartha, a firm offering peer-to-peer lending and other services in Indonesia, recently gained access to USD 6 million in debt financing from the Belgian impact investing firm Incofin Investment Management in an attempt to boost access to financial services for women entrepreneurs in rural Indonesia. Two thirds of the total invested comes from the Microfinance Enhancement Facility (MEF), and the remainder is sourced from
MICROCAPITAL BRIEF: Incofin Sells 20% Equity Stake in ACEP Burkina to SIDI
Belgium’s Incofin Investment Management (Incofin IM) recently sold the 20-percent equity stake in Agence de Crédit pour l’Entreprise Privée (ACEP) Burkina, a microfinance institution in Burkina Faso, that it had held through its Incofin CVSO fund. The buyer is Solidarité Internationale pour le Développement et l’Investissement (SIDI), a French social business that is
MICROCAPITAL BRIEF: Bailyk Finance Borrows from Incofin for On-lending to Small-scale Entrepreneurs, Farmers in Kyrgyzstan
Belgium’s Incofin Investment Management recently provided a loan of an undisclosed amount to Kyrgyzstan-based Bailyk Finance to support the microlender’s mission “to create affordable financial solutions for rural and small cities’ residents to improve their quality of life.” Established in 2011, Bailyk provides microloans and associated insurance for consumption, enterprise, farming, housing, solar energy, medical and other purposes to 45,000 consumers – mostly women – through 43 offices. The company’s loan formats include
MICROCAPITAL BRIEF: Incofin Lends $1.5m from Fairtrade Access Fund to Lafaza to Support Vanilla Farmers in Sava Region of Madagascar
Belgium’s Incofin Investment Management recently lent USD 1.5 million from the Fairtrade Access Fund (FAF) to Lafaza Trading, a company with offices in Madagascar and the US that buys vanilla and other spices “directly [from 1,000] smallholder farm owners who use organic and sustainable agricultural practices.” Lafaza works with farmers to help them
MICROCAPITAL BRIEF: Incofin Investment Management Names Buysens, Peetermans Co-CEOs
The Belgian impact investing firm Incofin Investment Management announced today that it has promoted two of its senior staff members to lead the company as co-CEOs: Paul Buysens, who joined Incofin in 2018 as its COO, and Geert Peetermans, who has 20 years of service as
MICROCAPITAL BRIEF: SuperZop, Agri-commerce Platform in India, Nets $4m in Equity from Incofin, 1st-time Investor in Agricultural Technology
Incofin Investment Management, a Belgium-based investor in financial inclusion and agriculture in developing countries, recently agreed to invest USD 4 million from its India Progress Fund (IPF) in SuperZop, whose app helps “small retailers and restaurants buy staples directly from farmers and food processors.” Among the app’s functions is to use artificial intelligence to analyze the quality of grains
MICROCAPITAL BRIEF: Triple Jump via ASN Microkredietpool, NMI, Incofin Place $9.4m in Equity in Light Microfinance for Financial Inclusion of Women in Rural India
Light Microfinance, a non-banking finance institution in India, recently raised equity from three European organizations: USD 4 million from Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership active in Africa and Asia; USD 3 million from ASN Microkredietpool, a microfinance fund managed by Netherlands-based Triple Jump; and EUR 2 million (USD 2.4 million) from
MICROCAPITAL BRIEF: Incofin Raises $60m for India Progress Fund, Bringing Equity Investments to Rural Entrepreneurs, Value Chains from DFIs, Family Offices, King Baudouin Foundation, Korys, SDG Frontier Fund
Belgium-based Incofin Investment Management recently announced it has raised USD 60 million for the first close of the Incofin India Progress Fund (IPF). The fund will issue private equity investments that support
MICROCAPITAL BRIEF: ADA’s SSNUP, Incofin’s agTAF Supporting Mobile App from Sohan Lal Commodity Management (SLCM) of India, Easing Farmers’, Buyers’ Assessment of Seed Quality
Incofin Investment Management, which is based in Belgium, recently announced a grant of approximately EUR 125,000 (USD 147,000) from its agricultural technical assistance fund (agTAF) and the Smallholder Safety Net Upscaling Programme (SSNUP) to fund a mobile application for customers of Indian agricultural logistics firm Sohan Lal Commodity Management (SLCM). The app, which SLCM plans to launch by
MICROCAPITAL BRIEF: Incofin Loans $2m to Bina Artha for Microfinance, Small Business Loans for Rural Women in Indonesia
Recently, Belgium-based Incofin Investment Management (IM) lent USD 2 million from its Incofin CVSO fund to Bina Artha, a microfinance institution (MFI) in Indonesia. Incofin IM acknowledges that
MICROCAPITAL BRIEF: Incofin Assists SOPROCOPIV Coffee Cooperative with Fairtrade Certification, COVID-19 Adjustment in Democratic Republic of Congo (DRC)
Incofin, an investment management firm based in Belgium, recently launched a technical assistance project for Solidarité pour la Production et la Commercialisation des Produits Industriels et Vivriers (SOPROCOPIV), a coffee cooperative in the Democratic Republic of Congo (DRC). The goal is to help SOPROCOPIV become certified by Germany’s Fairtrade International by
MICROCAPITAL BRIEF: Incofin Lending $1m to EFC Uganda to Support Micro-, Small, Medium-Sized Enterprises; to Advise on Social Performance
Belgium-based Incofin Investment Management recently disbursed the initial USD 1 million of a “multi-million dollar” loan package for Entrepreneur Financial Centre (EFC) Uganda. EFC Uganda’s target market is micro-, small and medium-sized enterprises (MSMEs). Incofin made the investment through its agriculture-focused fund, agRIF. I&M Burbidge Capital, a Nairobi based company was the lead advisor to EFC Uganda for this transaction.
MICROCAPITAL BRIEF: IFU, Incofin Invest $4.2m in Equity in Ningxia Dongfang Huimin Microfinance of China to Boost Financial Inclusion for Rural Women
Belgium-based Incofin Investment Management and the government-owned Investment Fund for Developing Countries, which is known by its Danish acronym IFU, recently invested USD 2.1 million each in Ningxia Dongfang Huimin Microfinance Corporation Limited to further Huimin’s provision of financial services to female farmers in China’s Ningxia province. Incofin placed the investment through its agRIF fund
SPECIAL REPORT: Danone, Incofin, Water.org: WASH Sector is Already Investible
During 
one of the Friday sessions of European Microfinance Week 2020, Dina Pons of Belgium-based Incofin Investment Management explained a partnership with France-based food company Danone through which the organizations are building a 10-year equity fund to invest in expanding access to clean water in developing countries. Since 2007, the Danone Communities arm of Danone – mostly funded by its employees – has invested in access to drinking water on a proof-of-concept basis. Now Danone believes the sector has matured from the incubation stage to the investible stage. The company selected Incofin to help it invest in proven models, with a technical assistance component and monitoring of factors such as affordability, limiting plastic usage and
MICROCAPITAL BRIEF: KfW, BMZ Investing $47m in Farmers, Processors in Africa, Latin America via Debt Fund Managed by Incofin: Agri-Finance Liquidity Facility
The German Federal Ministry for Economic Cooperation and Development, which is also known by its German acronym BMZ, recently launched the Agri-Finance Liquidity Facility (ALF), a debt facility of EUR 40 million (USD 46.7 million), to support the “sustainable agri-food value chain” in