Grameen Credit Agricole Microfinance Foundation (GCAMF), based in Luxembourg, recently reported to MicroCapital that it has partnered with Promotion et Participation pour la Cooperation Economique (PROPARCO), a development finance institution based in France, to provide a credit line of KES 750 million (USD 10 million) to Kenya Women Finance Trust (KWFT), a microfinance institution (MFI) that serves exclusively women microentrepreneurs. PROPARCO financed KES 599 million (USD 7.07 million) of the credit line while GCAMF is funding KES 240 million (USD 2.83 million). According to the non-profit, US-based data provider Microfinance Information Exchange (MIX) as of 2009 KWFT had total assets of USD 195 million, a gross loan portfolio USD 134 million, 334,000 borrowers, return on assets (ROA) of 5.24 percent and return on equity (ROE) of 28 percent.
By Jacqueline Foelster, Research Associate
About Kenya Women Finance Trust (KWFT): Established in 1982, KWFT provides microfinance services exclusively to women. KWFT received a license to accept deposits nationwide in 2010. According to the non-profit, US-based data provider Microfinance Information Exchange (MIX) as of 2009 KWFT had total assets of USD 195 million, a gross loan portfolio USD 134 million, 334,000 borrowers, return on assets (ROA) of 5.24 percent and return on equity (ROE) of 28 percent.
About Promotion et Participation pour la Cooperation Economique (PROPARCO): Established in 1977, Promotion et Participation pour La Cooperation Economique (PROPARCO – the Investment and Promotions Company for Economic Cooperation) is a development finance institution based in Paris, France, that is jointly held by the Agence Francaise de Developpement (AFD), a development finance institution of the French government, and private shareholders. PROPARCO’s mission is “to be a catalyst for private investment in developing countries which targets growth, sustainable development and reaching the Millennium Development Goals (MDGs).” In 2009, PROPARCO disbursed EUR 1.1 billion (USD 1.4 billion) for 80 projects in thirty countries.
About Grameen Credit Agricole Microfinance Foundation (GCAMF): GCAMF was founded in 2008 with a EUR 50 million (USD 73 million) endowment provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization based in Bangladesh. The foundation offers a range of financing products to microfinance institutions (MFIs), focusing on MFIs dedicated to agricultural and rural development, specifically those serving primarily women and those that prioritize transparency and consumer protection.
Sources and Additional Resources:
[1] Data provided by Grameen Credit Agricole Microfinance Foundation to MicroCapital, March 2011
MicroCapital.org Brief, https://www.microcapital.org/microcapital-brief-central-bank-of-kenya-cbk-licenses-kenya-women-finance-trust-kwft-as-deposit-taking-microfinance-institution-mfi/
MicroCapital Microfinance Universe Profile: Kenya Women Finance Trust (KWFT), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kenya+Women+Finance+Trust+%28KWFT%29
MicroCapital Microfinance Universe Profile: (Promotion et Participation pour la Cooperation Economique) PROPARCO, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PROPARCO
MicroCapital Microfinance Universe Profile: Grameen Credit Agricole Microfinance Foundation (GCAMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation
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