responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it loaned the equivalent of USD 6.92 million to microfinance organizations Argentina, Colombia, Paraguay and Ecuador.
In Argentina, the responsAbility Global Microfinance Fund (rAGMF) and Mikrofinanz-Fonds, microfinance investment vehicles (MIVs) managed by responsAbility, made investments equivalent to a total of USD 1 million in FIE Grand Poder, an Argentinian microfinance institution (MFI) that was founded by Centro de Fomento de Inciaticas Economicas (FIE). In 2009, FIE Grand Poder reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 12.2 million, gross loan portfolio of USD 9.7 million.
In Colombia, rAGMF and Mikrofinanz-Fonds made investments equivalent to a total of USD 992,000 in Corporacion Narino Empresa y Futuro (Contactar), a Colombian microfinance institution (MFI). Established in 1995, Contactar reported total assets of USD 14.7 million, gross loan portfolio of USD 14.5 million and return on assets of 10.40 percent as of 2009.
In Ecuador, rAGMF and responsAbility Microfinance Leaders Fund (rAMLF), another MIV managed by responsAbility, made investments equivalent to a total of USD 4 million in Banco Solidario, an Ecuadorian MFI. In 2009, Banco Solidario reported to MIX total assets of USD 298 million, a gross loan portfolio of USD 216 million and return on assets (ROA) of 0.7 percent.
In Paraguay, rAGMF and Mikrofinanz-Fonds made investments equivalent to a total of USD 1 million in Arasy Organica, a social and environmental enterprise that produces organic farm products sourced from community farmers in Paraguay. Arasy Organica seeks to enable its producers to cover their costs of production and costs of living and enable them to invest in the development of their businesses by providing its producers with seeds, technical support and credit for capacity building. Financial information is not currently available for Arasy Organica.
According to calculations based on data from MIX from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets.
By: Alexandra Pattee, Research Associate
About responsAbility 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. According to calculations based on data from the Microfinance Information Exchange (MIX) from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets. 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): rAGMF is a microfinance investment vehicle (MIV) managed by responsAbility that invests in microfinance institutions (MFIs) and 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 2010, 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 Microfinance Information Exchange (MIX), the US nonprofit data provider, that it had USD 474 million in fund assets as of 2010.
About responsAbility Mikrofinanz-Fonds: 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 microfinance institutions (MFIs) through debt securities and equity investments. Mikrofinanz-Fonds reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, that it held USD 103 million in assets as of 2010. Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector, renewed its certification of Mikrofinanz-Fonds as of April 2010.
About responsAbility Microfinance Leaders Fund (rAMLF): The responsAbility Microfinance Leaders Fund (rAMLF) invests in large microfinance institutions (MFIs) through debt securities and equity investments. The Luxembourg Fund Labeling Agency (LuxFLAG), an organization that certifies that investment vehicles actually invest in the microfinance sector, renewed rAMLF’s label as of April 2010. rAMLF reported total fund assets of USD 160 million and 129 active investments in microfinance in 2010.
About FIE Grand Poder: FIE Grand Poder is an Argentinian microfinance institution (MFI) established in 2001 by Centro de Fomento de Inciaticas Economicas (FIE). In 2009, FIE Grand Poder reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 12.2 million, a gross loan portfolio of USD 9.7 million and approximately 7,382 active borrowers.
About Corporacion Narino Empresa y Futuro (Contactar): Corporacion Narino Empresa y Futuro (Contactar) is a Colombian microfinance institution (MFI) that was established in 1995. As of 2009 Contactar reported total assets of USD 14.7 million, gross loan portfolio of USD 14.5 million, return on assets of 10.40 percent, return on equity of 24.31 percent and 20,100 active borrowers.
About Banco Solidario: Established in 1995 in Ecuador, Banco Solidario is a microfinance institution (MFI) that serves rural and urban microentrepreneurs. Its services include loans, voluntary savings, insurance and fund transfer services. In 2009, Banco Solidario reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 298 million, a gross loan portfolio of USD 216 million, approximately 126,300 borrowers, return on assets (ROA) of 0.7 percent and return on equity (ROE) of 5.7 percent.
About Arasy Organica: Arasy Organica produces, processes and exports various agro-industrial products grown naturally in Paraguayan communities. Arasy Organica seeks to enable its producers to cover their costs of production and costs of living and to enable them to invest in the development of their businesses by providing its producers with seeds, technical support and credit for capacity building. Financial information is not currently available for Arasy Organica. Arasy belongs to a subsidiary of Michelangoli Holding of Paraguay, which reports total annual sales of USD 25 million.
Source and Additional Resources:
[1] Data submitted by responsAbility Social Investments AG to MicroCapital, April 2011
MicroCapital.org Article, April 22, 2011, “responsAbility of Switzerland Loans $11m to ProCredit Georgia, Frontiers of Kyrgyz Republic, AgroInvest Holding of Montenegro, Sathapana of Cambodia”, https://www.microcapital.org/microcapital-brief-responsability-of-switzerland-loans-11m-to-procredit-georgia-frontiers-of-kyrgyz-republic-agroinvest-holding-of-montenegro-sathapana-of-cambodia/
MicroCapital.org Article, April 20, 2011, “responsAbility Social Investments of Switzerland Makes Debt Investments Worth $4m in Coffee Cooperatives Coagriscal and Coprocael of Honduras, Microfinance Institution Centro de Apoyo al Microempresario (CAME) of Mexico”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-of-switzerland-makes-debt-investments-worth-4m-in-coffee-cooperatives-coagriscal-and-coprocael-of-honduras-microfinance-institution-centro-de-ap/
MicroCapital.org Article, March 9, 2011, “responsAbility Social Investments of Loans $8m to Contactar of Colombia, Vision Banco of Paraguay, Forjadores de Negocios of Mexico and Ecuadorian Microfinance Institutions (MFIs) COAC Progreso, Fundacion Alternativa”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-of-loans-8m-to-contactar-of-colombia-vision-banco-of-paraguay-forjadores-de-negocios-of-mexico-and-ecuadorian-microfinance-institutions-mfis/
MicroCapital.org February 25, 2011, “responsAbility Social Investments Loans Total of $5.8m to Banco Solidaro of Ecuador, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Edpyme Alternativa of Peru, Apoyo Integral of El Salvador”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-loans-total-of-5-8m-to-banco-solidaro-of-ecuador-fundacion-de-apoyo-comunitario-y-social-del-ecuador-faces-of-ecuador-edpyme-alternativa-of/
MicroCapital.org Article, January 10, 2011, “Social Investments of Switzerland Makes Loans Totaling $13m to Banco Continental of Paraguay, Financiera Confianza of Peru”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-of-switzerland-makes-loans-totaling-13m-to-banco-continental-of-paraguay-financiera-confianza-of-peru/
MicroCapital.org Article, December 13, 2010, “responsAbility Makes Debt Investments Worth $5m in Contactar of Colombia, FODEMI of Ecuador, FINCA Mexico and Edpyme Raiz of Peru”, https://www.microcapital.org/microcapital-brief-responsability-makes-debt-investments-worth-5m-in-contactar-of-colombia-fodemi-of-ecuador-finca-mexico-and-edpyme-raiz-of-peru/
MicroCapital’s Microfinance Universe: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital’s Microfinance Universe: Mikrofinanz-Fonds, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
MicroCapital’s Microfinance Universe: responsAbility Microfinance Leaders Fund (rAMLF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Microfinance+Leaders+Fund+%28rAMLF%29
MicroCapital’s Microfinance Universe: FIE Grand Poder, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FIE+Grand+Poder
MicroCapital’s Microfinance Universe: Corporacion Narino Empresa y Futuro (Contactar), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Contactar
MicroCapital’s Microfinance Universe: Banco Solidario, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Banco+Solidario
MicroCapital’s Microfinance Universe: Arasy Organica, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Arasy+Organica
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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