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 disbursed a local-currency, three-year loan equivalent to USD 340,000 to Mec Fadec, a Senegalese microfinance institution (MFI), and a one-year loan of USD 930,000 to Humo & Partners, a Tajikistan-based MFI. Mec Fadec, which operates mainly in the Senegalese regions of Kebemer and Louga, aims to relieve poverty by offering its clients business training in addition to financial services. Humo and Partners, which mainly operates in the western and southern regions of Tajikistan, mainly targets entrepreneurs and farmers [1].
As of December 2014, GCAMF reported total assets of EUR 51 million (USD 64 million) and return on assets (ROA) of 6.6 percent [2]. Since its inception in 2008 through October 2015, it has invested in 46 MFIs, 13 social-business projects and one fund [3]. As of 2016, Mec Fadec has 2,300 active borrowers, 65 percent of whom are women, and a gross loan portfolio of EUR 750,000 (USD 820,000). It does not have a license to accept deposits [4]. As of December 2014, Humo and Partners reported total assets of TJS 232 million (USD 32 million), return on assets (ROA) of 0.9 percent and return on equity (ROE) of 5.8 percent [5]. As of April 2015, it reported a gross loan portfolio of USD 31 million and 31,000 clients. In 2013, it received a license to accept deposits, but details on its deposit holdings are not available [5].
By Kevin van den Brink, Research Associate
About Grameen Credit Agricole Microfinance Foundation
Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and other social businesses. GCAMF was founded in Luxembourg in 2008 by Credit 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), a GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. The foundation has been active in 18 countries in Africa, Asia and Europe. As of December 2014, GCAMF reported total assets of EUR 51 million (USD 64 million) and ROA of 6.6 percent. Since its inception in 2008 through October 2015, the foundation has invested in 46 microfinance institutions (MFIs), 13 social-business projects and one fund in 22 countries.
About Mec Fadec
Mec Fadec is a microfinance institution (MFI) in Senegal that was created in 1999 and registered in March 2000 as a savings and credit cooperative. Its aim is to “fight poverty by organizing and training its members and providing adequate and diversified financial services in the departments of Kébémer and Louga that cover 11 rural communities.” At the time of its launch, the MFI was affiliated with US-based Christian NGO World Vision, but that connection is no longer active. As of 2016, Mec Fadec has 2,300 active borrowers, 65 percent of whom are women and a gross loan portfolio of EUR 750,000 (USD 820,000). It does not have a license to accept deposits.
About Humo & Partners
Founded in 2004 in Tajikistan by the local affiliate of Switzerland-based nongovernmental organization CARE (Cooperative for Assistance and Relief Everywhere) International, Humo and Partners is a microfinance institution (MFI) that serves micro- and small businesses. In addition to microcredit services, Humo offers consulting services relating to cash-flow analysis and business plans. The MFI obtained a license from the National Bank of Tajikistan to accept deposits in November 2013, however details on its deposit holdings are not available. As of December 2014, Humo and Partners reported total assets of TJS 232 million (USD 32 million), return on assets (ROA) of 0.9 percent and return on equity (ROE) of 5.8 percent [5]. As of April 2015, Humo and Partners reported to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 31 million and 31,000 clients. Humo operates through a network of 14 branches, 30 business services centers and 24 sub-offices, primarily in the western and southern regions of Tajikistan.
[1] Information provided directly to MicroCapital by GCAMF
[2] GCAMF, News, Annual Report 2014, http://www.grameen-credit-agricole.org/sites/grameen/files/rapport_annuel_2014.pdf
[3] GCAMF, News, Key Figures 2015, http://www.grameen-credit-agricole.org/en/content/key-figures
[4] GCAMF, News, Strategic Plan 2016-2020, http://www.grameen-credit-agricole.org/sites/grameen/files/appel_doffre_mec_fadec_0.pdf
[5] Mix Market, News, Humo & Partners Audit Report 2014, http://mixmarket.org/sites/default/files/humo_audit_report_2014.pdf
MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation
MicroCapital Universe Profile: Mec Fadec
MicroCapital Universe Profile: Humo & Partners
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