UK-based relief agency Oxfam International and Swiss for-profit microfinance investment intermediary Symbiotics have jointly launched the Small Enterprise Impact Investment Fund (SEIIF) that will increase access to credit for small and medium-sized enterprises (SMEs) in Asia and Africa while offering investors both “measurable social impacts and financial returns” [1]. Oxfam will be the “impact adviser” for the fund and offer “intelligence on the impact of investee activities.” The primary focus will be on activities that build women’s empowerment, create jobs and increase food security. Symbiotics will act as the fund manager for SEIIF.
The target size of SEIIF, which will invest in debt and equity instruments, is USD 100 million after three years. The fund aims to create 100,000 jobs in five years.
By Nisha Koul, Research Associate
About Oxfam International: Oxfam International was established in 1995 as a confederation of 15 organizations working to reduce poverty. Oxfam’s name is derived from its founding member, the Oxford Committee for Famine Relief, which began operating in Britain in 1942 by advocating for food supplies to be sent to women and children in Greece during the Second World War. Oxfam International since has grown into a network of member organizations serving 99 countries with disaster relief, advocacy and policy research with the aim of providing long-term solutions for poverty eradication. As of March 2011, Oxfam International reports GBP 2.8 million (USD 4.4 million) in assets.
About Symbiotics: Founded in 2005, Symbiotics provides for-profit investment intermediary services to the microfinance industry as well as business services to investors and practitioners of micro- and small enterprise (MSE) development. Symbiotics works with approximately twenty investment funds (MIVs) and a dozen institutional investors. It has facilitated the provision of USD 895 million in capital to about half a million micro-, small and medium-sized enterprises (MSMEs) through 150 financial institutions in approximately 35 emerging economies. The company also offers Syminvest, a microfinance investment intelligence platform designed to increase transparency and enhance investment capacity in the industry by monitoring regional markets and specific institutions.
Sources and Additional Resources:
[1] Symbiotics News, “SEIIF – Oxfam and Symbiotics target investment industry with new SME fund,” http://www.symbioticsgroup.com/news/latest-news/seiif-oxfam-and-symbiotics-target-investment-industry-with-new-sme-fund
MicroCapital.org story, December 28, 2010, “MICROCAPITAL BRIEF: Symbiotics Launches Micro-, Small & Medium-Sized Enterprise Bonds Electronic Platform, Closes Two Deals for Mutual Cartago de Ahorro y Prestamo (MUCAP) and Microfinance Institution (MFI) Lanka ORIX MicroCredit (LOMC),” https://www.microcapital.org/microcapital-brief-symbiotics-launches-micro-small-medium-sized-enterprise-bonds-electronic-platform-closes-two-deals-for-mutual-cartago-de-ahorro-y-prestamo-mucap-and-microfinance-institu/
MicroCapital.org story, November 1, 2010, “MICROCAPITAL BRIEF: CARE, Barclay’s, Oxfam, EcoBank, Others Collaborate to Expand Financial Services to Sub-Saharan Africa’s Poor,” https://www.microcapital.org/microcapital-brief-care-barclays-oxfam-ecobank-others-collaborate-to-expand-financial-services-to-sub-saharan-africas-poor/
MicroCapital Universe Profile: Oxfam International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oxfam+International
MicroCapital Universe Profile: Symbiotics, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Symbiotics+Group
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Visa, Oxfam to Expand B-READY to Provide Pre-disaster Cash Assistance in Colombia, Kenya, Puerto Rico
- MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
- MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
- MICROCAPITAL BRIEF: Money Fellows of Egypt Borrowing $2.2m from Symbiotics to Support Digital ROSCAs
- MICROCAPITAL BRIEF: Kashf Foundation of Pakistan Borrows in Local Currency from SEB Microfinance Funds, Arranged by Symbiotics
