The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: (1) EUR 1.5 million (USD 1.6 million) to Hattha Kaksekar Limited (HKL), an MFI based in Cambodia that was founded in 1994 by Organisation Canadienne pour la Solidarite et le Developpement (OCSD) and Oxfam International; and (2) EUR 1.1 million (USD 1.2 million) to VisionFund Lanka, a unit of US-based VisionFund, which offers financial services to families living in poverty in the developing world through a network of MFIs in 36 countries.
As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation has invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.
As of 2012, HKL reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 123 million, a gross loan portfolio of USD 102.8 million, approximately 74,600 borrowers, total deposits of USD 44.3 million and approximately 97,800 depositors. HKL also reported return on assets of 2.61 percent and return on equity of 18.59 percent.
As of 2013, VisionFund International has a loan portfolio of USD 390 million serving 830,000 small businesses. VisionFund is controlled by US-based, Christian nonprofit organization World Vision.
As of 2013, VisionFund Lanka has a loan portfolio of USD 720 million serving 38,900 small businesses.
By Jacob Ferguson, Research Associate
About Hattha Kaksekar Limited
Hattha Kaksekar Limited is a microfinance institution (MFI) based in Phnom Penh, Cambodia. It was founded in 1994 by two charitable organizations, the Canada-based Organisation Canadienne pour la Solidarité et le Développement (OCSD) and UK-based Oxfam International. It was transformed into an independent non-governmental organization (NGO) in 1996 and then into a private liability company in 2001. Its financial supporters have included Oikocredit, Norfund, Triple Jump, the Agence Francaise de Developpement (AFD) and Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ). As of 2012, HKL reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 123 million, a gross loan portfolio of USD 102.8 million, approximately 74,600 borrowers, total deposits of USD 44.3 million and approximately 97,800 depositors. HKL also reported return on assets of 2.61 percent and return on equity of 18.59 percent.
About VisionFund International
VisionFund International, a US-based nonprofit organization, offers financial services to families living in poverty in the developing world through a network of microfinance institutions in 36 countries in Asia, Africa, Latin America and the Caribbean, the Middle East and Eastern Europe. Its services include small loans and business training and support. VisionFund is part of US-based World Vision, a Christian relief, development and advocacy organisation. As of 2013, VisionFund has a loan portfolio of USD 390 million serving 830,000 small businesses.
About Grameen Credit Agricole Microfinance Foundation (GCAMF)
The Grameen Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and other social businesses. GCAMF was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a non-profit microfinance organization affiliated with the Grameen Bank of Bangladesh. In financing microfinance institutions (MFIs), GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. The foundation has been active in Azerbaijan, Bangladesh, Benin, Burkina Faso, Cambodia, Cameroon, Democratic Republic of Congo, France, Indonesia, Kenya, Kosovo, Madagascar, Mali, Palestine, Philippines, Senegal, Sri Lanka, Tajikistan, Timor Leste, Togo and Zambia. As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation has invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.
Sources and Additional Resources
[1] Information provided directly to MicroCapital by GCAMF
MicroCapital University Profile: Hattha Kaksekar Limited
MicroCapital Universe Profile: VisionFund International
MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation (GCAMF)
MicroCapital Universe Profile: World Vision International
MicroCapital, October 2014: Grameen Credit Agricole Microfinance Foundation Loans $609k to Juhudi Kilimo of Kenya
MicroCapital, June 2014: ANZ Royal Bank, Microfinance Institution (MFI) Hattha Kaksekar Limited (HKL) to Share Branches, ATMs
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page
Similar Posts:
- MICROCAPITAL BRIEF: DreamStart Labs Adding VisionFund as Preferred Financial Service Provider in Savings Groups App DreamSave
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine
- MICROCAPITAL BRIEF: Mi-Bospo of Bosnia and Herzegovina Borrowing $2.2m from Grameen Credit Agricole Foundation for Microfinance Lending
- MICROCAPITAL BRIEF: Arnur Credit of Kazakhstan Borrows $3.3m from Grameen Crédit Agricole to Expand Access to Microfinance
- MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $760k to Microfinance Institution Oxus Tajikistan
