Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans totaling the local-currency equivalent of USD 3 million to financial institutions Advans Cameroun and Opportunity International Bank of Malawi (OIBM). Advans Cameroun received the equivalent of USD 582,000 in equal parts from microfinance investment vehicles (MIVs) managed by responsAbility: responsAbility Mikrofinanz-Fonds (rAMF) and responsAbility SICAV Microfinance Leaders Fund (rAMLF). OIBM received the equivalent of USD 500,000 disbursed through rAMF and USD 2 million from responsAbility Global Microfinance Fund (rAGMF), another MIV managed by responsAbility.
Advans Cameroun is held by Luxembourg-registered Advans SA, which provides technical assistance to micro-, small and medium-sized enterprises (MSMEs) and also controls microfinance institutions (MFIs) in Ghana, Tanzania, Democratic Republic of the Congo and Cambodia, serving approximately 245,000 borrowers with an aggregated outstanding loan portfolio of approximately EUR 55 million (USD 75.7 million) as of 2010. As of December 31, 2010, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 12.5 million, total deposits of USD 6.6 million and 7,177 active borrowers.
OIBM reports total assets of USD 56 million, a gross loan portfolio of USD 30.4 million and 42,200 active borrowers. As of December 31, 2010, Its parent organization, Opportunity International, reported operations in 24 countries including total assets of USD 150 million with an annual revenue of USD 32 million.
About Opportunity International Bank of Malawi (OIBM)
OIBM was granted a full commercial banking license in 2002 and opened its first branch in 2003. OIBM targets economically active but marginalized Malawians living in underserved areas such as semi-urban and rural areas. OIBM reports total assets of USD 56 million, a gross loan portfolio of USD 30.4 million and 42,200 active borrowers.
About Advans SA SICAR (Advans SA)
Advans SA SICAR (Advans SA) is a venture capital company registered in Luxembourg and managed by Horus Development Finance of France, whose mission is to broaden access to financial services for micro-, small and medium-sized enterprises (MSMEs) in emerging economies. Its modus operandi is to invest as lead shareholder in the creation of financial institutions. In addition to providing equity and debt funding to microfinance institutions (MFIs), Advans SA provides technical assistance to MSMEs to promote sustainable and profitable operations. Advans’ MFIs in Cameroon, Ghana, Tanzania, the Democratic Republic of the Congo and Cambodia serve approximately 245,000 borrowers with an aggregated outstanding loan portfolio of approximately EUR 55 million (USD 75.7 million) as of 2010. Advans SA plans to establish 6 to 7 new MFIs in Africa, Asia and the Middle East by 2013. Luxembourg Fund Labeling Agency (LuxFLAG), an organization that certifies that microfinance vehicles actually invest in the microfinance sector, most recently certified Advans in April 2011.
About Opportunity International
Based in the United States, Opportunity International is a nonprofit organization that was founded in 1971. Opportunity International provides small-business loans, savings, insurance and training to approximately two million poor people in 24 countries in Africa, Asia, South America and Eastern Europe. As of December 31, 2010, Opportunity International reported total assets of USD 150 million and annual revenue of USD 32 million.
About responsibility Social Investments AG
Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Global Microfinance Fund (rAGMF)
The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments 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 April 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. rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 532 million in 2011.
About responsAbility Microfinance Leaders Fund (rAMLF)
The responsAbility Microfinance Leaders Fund (rAMLF) invests in large microfinance institutions (MFIs) through debt securities and equity investments. In April 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. rAMLF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 155 million in 2011.
About responsAbility Mikrofinanz-Fonds (rAMF)
Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in short- to medium-term income-bearing debt securities of microfinance institutions (MFIs). In April 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. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
By Ariana Malushi, Research Associate
Sources and Additional Resources
Information submitted by responsAbility Social Investments AG to MicroCapital
MicroCapital.org article, November 14, 2011, “MICROCAPITAL BRIEF: responsAbility Lends $4.3m to Microfinance Institutions (MFIs) Banco Solidario of Ecuador, Interactuar of Colombia”, https://www.microcapital.org/microcapital-brief-responsability-global-mic…
MicroCapital.org article, November 15, 2011, “MICROCAPITAL BRIEF: responsAbility Lends $8.2m to Microfinance Institutions (MFIs) FINCA DRC, Bandhan of India, Opportunity Microcredit Romania,” https://www.microcapital.org/microcapital-brief-responsability-lends-8-2m…
MicroCapital.org article, October 17, 2011, “MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund Lends $2.3m to Microfinance Institutions (MFIs) Coopronaranjo of Costa Rica, Fundación Amanecer of Colombia, COAC Esperanza y Progreso Del Valle of Ecuador”, https://www.microcapital.org/microcapital-brief-responsability-global-microfinance-fund-lends-2-3m-to-microfinance-institutions-mfis-coopronaranjo-of-costa-rica-fundacion-amanecer-of-colombia-coac-esperanza-y-progreso-del-v/
MicroCapital Universe Profile: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility…
MicroCapital Universe Profile: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29…
MicroCapital Universe Profile: responsAbility Mikrofinanz-Fonds (rAMF) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds…
MicroCapital Universe Profile: Advans Cameroun
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Cameroun
MicroCapital Universe Profile: Advans SA
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: Opportunity International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+International
MicroCapital Universe Profile: OIBM
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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