Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that it has invested an undisclosed amount of funds in four microfinance institutions (MFIs): Advans Ghana Savings and Loans Limited, KixiCrédito of Angola, TYM Fund of Vietnam and Belarusian Bank for Small Business (BBSB) [1]. The TYM Fund is a new addition to the portfolio.
Advans Ghana Savings and Loans Limited (Advans Ghana) is a microfinance institution (MFI) operating in Ghana as a member of the Advans SA group of financial institutions, which is registered in Luxembourg. Advans Ghana has offered credit and savings services to micro-, small and medium-sized enterprises (MSMEs) since it began operations in 2008. As of December 31, 2009, Advans Ghana reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) a gross loan portfolio of USD 1.1 million, total deposits of USD 164,000 and 2,027 active borrowers and depositors. Advans SA also has investments in MFIs in Cameroon, Tanzania, Democratic Republic of the Congo and Cambodia.
KixiCrédito is an Angolan microfinance institution (MFI) that provides group loans in peri-urban areas. KixiCrédito was launched in 2004 and operates from its headquarters in the capital city of Luanda. As of December 31, 2010, KixiCrédito reported to MIX total assets of USD 14.4 million, a gross loan portfolio of USD 9.7 million, return on assets (ROA) of 4.86 percent, return on equity (ROE) of 20.3 percent and approximately 9,140 active borrowers.
The TYM (for Tao Yeu May, “I love you” in Vietnamese) Fund was founded in 1992 by the Vietnam Women’s Union in order to help implement the poverty alleviation programme of the Vietnamese government. It originally operated based on the Grameen banking model. TYM operates 45 outlets in 10 northern and central Vietnamese provinces and provides savings, loans, education, consulting and social activities to its clients and communities. As of June 30, 2011, the TYM Fund reported to MIX total assets of USD 15.3 million and a gross loan portfolio of USD 13.8 million.
The Belarusian Bank for Small Business (BBSB) was founded in 2008 by the European Bank for Reconstruction and Development (EBRD), an international finance institution; Commerzbank AG, a commercial bank in Germany; Germany’s KfW Development Bank; the Netherlands Development Finance Company (FMO in Dutch), the Dutch international development bank; ShoreBank International Limited, a US financial institution “dedicated to expanding access to capital for small businesses;” Shorecap International Limited, a US financial institution “specializing in providing micro and small business loans in transition economies;” Swedfund, a venture fund established by the Swedish government; and the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. As of March 2010, BBSB reported a gross loan portfolio of USD 19.8 million and approximately 1,290 clients.
Triodos manages the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and the Triodos Microfinance Fund. As of December 31, 2010, Triodos’ four microfinance funds had a total of USD 338 million in assets under management invested in approximately 90 MFIs in 43 countries.
By Kristha Abores, Research Associate
About Triodos Investment Management:
Triodos Investment Management manages several funds that provide risk capital including Triodos Venture Capital Fund BV and Triodos Ventures BV. The firm invests in financial sector development in developing countries, renewable energy finance and venture capital. Triodos also manages four microfinance investment funds: the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and Triodos Microfinance Fund. As of December 31, 2010, Triodos’ four microfinance funds had USD 338 million in assets under management.
About Advans Ghana:
Advans Ghana Savings and Loans Limited (Advans Ghana) is a microfinance institution (MFI) operating in Ghana as a member of the Advans SA group of financial institutions, which is registered in Luxembourg. Advans Ghana has offered credit and savings services to micro-, small and medium-sized enterprises (MSMEs) since it began operations in 2008. As of December 31, 2009, Advans Ghana reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, a gross loan portfolio of USD 1.1 million, total deposits of USD 164,000 and 2,027 active borrowers and depositors.
About 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 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, Democratic Republic of the Congo and Cambodia serve approximately 245,000 loan clients with 61 branches and an 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. LuxFLAG, an organization that certifies that microfinance vehicles actually invest in the microfinance sector, most recently certified Advans in April 2011.
About KixiCrédito:
KixiCrédito is an Angolan microfinance institution (MFI) that provides group loans in peri-urban areas. KixiCrédito was launched in 2004 and operates from its headquarters in the capital city of Luanda. As of December 31, 2010, KixiCrédito reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 14.4 million in assets, a gross loan portfolio of USD 9.7 million, return on assets (ROA) of 4.86 percent, return on equity (ROE) of 20.3 percent and approximately 9,140 active borrowers.
About TYM Fund:
The TYM (for Tao Yeu May, “I love you” in Vietnamese) Fund was founded in 1992 by the Vietnam Women’s Union in order to help implement the poverty alleviation programme of the Vietnamese government using the Grameen banking model. TYM operates 45 outlets in 10 northern and central Vietnamese provinces and provides savings, loans, education, consulting and social activities to its clients and communities. As of June 30, 2011, the TYM Fund reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 15.3 million and a gross loan portfolio of USD 13.8 million.
About Belarusian Bank for Small Business (BBSB):
The Belarusian Bank for Small Business (BBSB) was founded in 2008 by the European Bank for Reconstruction and Development (EBRD), an international finance institution; Commerzbank AG, a commercial bank in Germany; Germany’s KfW Development Bank; the Netherlands Development Finance Company (FMO in Dutch), the Dutch international development bank; ShoreBank International Limited, a US financial institution “dedicated to expanding access to capital for small businesses;” Shorecap International Limited, a US financial institution “specializing in providing micro and small business loans in transition economies;” Swedfund, a venture fund established by the Swedish government; and the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. As of March 2010, BBSB has a loan portfolio of USD 19.8 million, serves 1,290 clients and has 7 branches.
Sources and Additional Resources:
[1] Information submitted by Triodos to MicroCapital
MicroCapital.org article, October 10, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions DemirBank of Azerbaijan; First Microfinance Bank, Arvand of Tajikistan; Arnur Credit of Kazakhstan; Kompanion of Kyrgyzstan”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
MicroCapital.org article, June 15, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) COMIXMUL of Honduras, CACMU of Ecuador, Sembrar Sartawi of Bolivia”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
MicroCapital.org article, June 15, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) KixiCrédito of Angola, Advans Ghana, Arnur Credit of Kazakhstan, Belarusian Bank for Small Business, Kompanion of Kyrgyzstan”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
MicroCapital Universe Profile: Triodos Investment Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tri…
MicroCapital Universe Profile: Advans Ghana, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Adv…
MicroCapital Universe Profile: Advans SA, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: KixiCrédito, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kix…
MicroCapital Universe Profile: TYM Fund, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=TYM…
MicroCapital Universe Profile: Belarusian Bank for Small Business (BBSB), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bel…
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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