MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund (rAGMF) Makes Loans Totaling $2.8m to Hattha Kaksekar Limited (HKL), Thaneakea Phum Limited (TPC) of Cambodia and Koperasi Mitra Dhuafa (Komida), Tanaoba Lais Manekat Foundation (TLM) of Indonesia

rAGMF made debt investments of USD 1 million each in Hattha Kaksekar Limited (HKL), an MFI based in Cambodia, and Thaneakea Phum (Cambodia) Limited (TPC), an MFI launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2010, HKL reported to MIX total assets of USD 47.6 million and a gross loan portfolio of USD 44.3 million. TPC reported to US-based data provider MIX total assets of USD 28.3 million and a gross loan portfolio of USD 17.5 million for 2009.

In addition, rAGMF made local-currency debt investments equivalent to USD 300,000 in Koperasi Mitra Dhuafa (Komida), an Indonesian MFI that reported to MIX total assets of USD 3.8 million and a gross loan portfolio of USD 2.5 million in 2009 and USD 500,000 in Tanaoba Lais Manekat Foundation (TLM), a Christian nonprofit MFI in Indonesia that reported total assets of USD 5.4 million and a gross loan portfolio of USD 3.1 million in 2009.

By Carol Kim, Research Associate

About responsAbility Global Microfinance Fund (rAGMF): rAGMF is a microfinance investment vehicle (MIV) managed by Switzerland’s responsAbility Social Investments AG that invests in microfinance institutions (MFIs) and other MIVs, mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In March 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. In 2010, rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) that it had USD 474 million in fund assets.

About Hattha Kaksekar Limited (HKL): HKL is a microfinance institution (MFI) based in Phnom Penh, Cambodia. It was founded in 1994 by two charitable organizations, the Organisation Canadienne pour la Solidarité et le Développement (OCSD) and UK-based Oxfam International. It was transformed into a non-governmental organization (NGO) in 1996 and a private liability company in 2001. Its financial supporters have included Oikocredit, Norfund, Triple Jump, the French Development Agency (AFD, in French) and Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ). In 2010, HKL reported to US-based data provider Microfinance Information Exchange (MIX) total assets of USD 47.6 million, a gross loan portfolio of USD 44.3 million, 48,000 active borrowers, return on assets (ROA) of 4.43 percent and return on equity (ROE) of 21.22 percent.

About Thaneakea Phum (Cambodia) Limited (TPC): TPC was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2002, CRS/TPC officially incorporated as a limited liability company named Thaneakea Phum (Cambodia) Limited. In 2003, TPC received its license from the National Bank of Cambodia to operate officially as a microfinance institution. In 2009, TPC reported to US-based data provider Microfinance Information Exchange (MIX) total assets of USD 28.3 million, a gross loan portfolio of USD 17.5 million, 91,200 active borrowers, return on assets (ROA) of 1.46 percent and return on equity (ROE) of 8.29 percent.

About Koperasi Mitra Dhuafa (Komida): Komida was established in 2004 in Jakarta, Indonesia. Having received technical assistance from Grameen Bank, a microfinance bank established in Bangladesh, Komida provides loans to underserved individuals in an effort to empower poor communities through its subsidiary Yayasan Mitra Dhuafa (Yamida).  For 2009, Komida reported to US-based data provider Microfinance Information Exchange (MIX) total assets of USD 3.8 million, a gross loan portfolio of USD 2.5 million, 26,000 active borrowers, return on assets (ROA) of 1.91 percent and return on equity (ROE) of 9.93 percent.

About Tanaoba Lais Manekat Foundation (TLM): TLM is a nonprofit microfinance institution (MFI) based in Kupang, West Timor, Indonesia.  TLM was established by the Evangelical Protestant Church of Timor (Gereja Masehi Injili Timor – GMIT) in January 1995 to support local communities through the provision of business creation and related services within the province of Nusa Tenggara Timur (NTT). For 2009, TLM reported total assets of USD 5.4 million, a gross loan portfolio of USD 3.1 million and 16,300 active borrowers.

Sources and Additional Resources:

[1] Data submitted by responsAbility Social Investments AG to MicroCapital, June 2011

MicroCapital.org: “responsAbility Loans $3.9m to Microfinance Institutions Financiera Confianza, Cooperativa Agropecuaria Limitada Naranjillo of Peru”, May 9, 2011, https://www.microcapital.org/microcapital-brief-responsability-loans-3-9m-to-microfinance-institutions-finaciera-confianza-cooperativa-agropecuaria-limitada-naranjillo-of-peru/

MicroCapital’s Universe Profile: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29

MicroCapital’s Universe Profile: Hattha Kaksekar Limited (HKL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hattha+Kaksekar+Limited

MicroCapital’s Universe Profile: Thaneakea Phum (Cambodia) Limited (TPC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Thaneakea+Phum+%28Cambodia%29+Limited

MicroCapital’s Universe Profile: Koperasi Mitra Dhuafa (Komida), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Koperasi+Mitra+Dhuafa+%28Komida%29

MicroCapital’s Universe Profile: Tanaoba Lais Manekat Foundation (TLM), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tanaoba+Lais+Manekat+Foundation+%28TLM%29

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