Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that its funds have added five microfinance institutions (MFIs) to their portfolios; KixiCrédito of Angola; Advans Ghana Savings and Loans Limited of Ghana; Arnur Credit of Kazakhstan; Belarusian Bank for Small Business (BBSB) of Belarus; and Kompanion Financial Group Microfinance Closed Joint Stock Company of Kyrgyzstan. The sizes of the investments have not been disclosed.
KixiCrédito is an Angolan MFI that provides group loans in peri-urban areas. As of December 31, 2009, KixiCrédito reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, USD 13 million in assets, a gross loan portfolio of USD 9.3 million, 8,500 active borrowers, return on assets (ROA) of 9.61 percent and return on equity (ROE) of 60.4 percent.
Advans Ghana Savings and Loans Limited (Advans Ghana) is an MFI that ofers credit and savings services to micro-, small and medium-sized enterprises (MSMEs). As of December 31, 2009, Advans Ghana reports to MIX a gross loan portfolio of USD 1.1 million, total deposits of USD 164,000 and 2,027 active borrowers. Advans Ghana is a member of the Advans SA group of financial institutions, which has also invested in Cameroon, Ghana, Tanzania, Democratic Republic of the Congo and Cambodia.
Arnur Credit is a Kazakhstan-based MFI that provides microcredit services. As of December 31, 2010, Arnur Credit reports to MIX total assets of USD 7.5 million, a gross loan portfolio of USD 6.1 million, ROA of 2.23 percent, ROE of 6.13 percent and 3,175 active borrowers.
BBSB is a Belarusian MFI that was established in 2008. As of March 2010, BBSB has a loan portfolio of USD 19.8 million, serves 1,290 clients and has 7 branches. BBSB does not report to MIX.
Kompanion is a Kyrgyzstan-based MFI that was established in 2004. As of December 31, 2010, Kompanion reports to MIX total assets of USD 50 million, a gross loan portfolio of USD 30 million, ROA of 4.78 percent, ROE of 20.82 percent and 119,000 active borrowers.
According to information submitted by Triodos, its microfinance portfolio is valued at EUR 250 million (USD 360 million) and is invested in approximately 90 MFIs in 43 countries. Triodos manages the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and the Triodos Microfinance Fund.
By Rohan Trivedi, Research Associate
About KixiCrédito:
KixiCrédito is an Angolan microfinance institution (MFI) that provides group loans in peri-urban areas. KixiCrédito was launched in 2004 and operates its headquarters in the capital city of Luanda. As of December 31, 2009, KixiCrédito reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, USD 13 million in assets, a gross loan portfolio of USD 9.3 million, 8,500 active borrowers, return on assets (ROA) of 9.61 percent and return on equity (ROE) of 60.4 percent.
About Advans Ghana Savings and Loans Limited (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 Horus, whose mission is to broaden access to financial services for micro-, small and medium-sized enterprises (MSMEs) in developing countries and emerging economies. Its modus operandi is to invest as lead shareholder in the creation of financial institutions. In addition to equity and debt funding, Advans SA provides technical assistance to MSMEs to promote sustainable and profitable operations. Advans microfinance institutions (MFIs) in Cameroon, Ghana, Tanzania, Democratic Republic of the Congo and Cambodia serve approximately 245,000 loan clients from 61 branches and have 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 as of April 2011. The organization reported total assets of USD 23.4 million as of March 31, 2010.
About Arnur Credit:
Arnur Credit is a microfinance institution (MFI) that provides microcredit in Kazakhstan. As of December 31, 2010, Arnur Credit reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, USD 7.5 million in assets, a gross loan portfolio of USD 6.1 million, return on assets (ROA) of 2.23 percent, return on equity (ROE) of 6.13 percent and 3,175 active borrowers.
About The 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), the international development bank of the Netherlands; 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. BBSB does not report to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider.
About Kompanion:
Kompanion Financial Group Microfinance Closed Joint Stock Company was established in Kyrgyzstan in 2004 as the result of the consolidation of five microcredit agencies affiliated with Mercy Corps, an economic development and aid organization based in the United States. As of December 31, 2010, Kompanion reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, USD 50 million in assets, a gross loan portfolio of USD 30 million, return on assets (ROA) of 4.78 percent, return on equity (ROE) of 20.82 percent and 119,000 active borrowers.
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 specifically in the area of the development of financial sectors 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 June 2011, Triodos’ four microfinance funds had EUR 250 million (USD 360 million) in assets under management.
Sources and Additional Resources:
[1] Information submitted by Triodos to MicroCapital, June 2011
MicroCapital.org story, June 15, 2011: “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) COMIXMUL of Honduras, CACMU of Ecuadro, Sembrar Sartawi of Bolivia”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microfinance-institutions-mfis-comixmul-of-honduras-cacmu-of-ecuador-sembrar-sartawi-of-bolivia/
MicroCapital.org story, May 30, 2011: “MICROCAPITAL BRIEF: LuxFLAG Renews Label for MIVs From Absolute, BlueOrchard, EFSE, Finethic, Horus, KCD, ResponsAbility, Triodos, Walberg”, https://www.microcapital.org/microcapital-brief-luxflag-renews-label-for-mivs-from-absolute-blueorchard-efse-finethic-horus-kcd-responsability-triodos-wallberg/
MicroCapital.org story, May 24, 2011: “MICROCAPITAL BRIEF: Norwegian Microfinance Initiative (NMI) Global Fund Invests $2.8m in Triodos Microfinance Fund (TMF)”, https://www.microcapital.org/microcapital-brief-norwegian-microfinance-initiative-nmi-global-fund-invests-2-8m-in-triodos-microfinance-fund-tmf/
MicroCapital Universe Profile: KixiCrédito, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=KixiCrédito
MicroCapital Universe Profile: Advans Ghana Savings and Loans Limited (Advans Ghana), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Ghana
MicroCapital Universe Profile: Advans SA, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: Arnur Credit, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Arnur+Credit
MicroCapital Universe Profile: Belarusian Bank for Small Business (BBSB), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Belarusian+Bank+for+Small+Business+%28BBSB%29
MicroCapital Universe Profile: Kompanion LLC, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kompanion+Financial+Group+Microfinance+Closed+Joint+Stock+Company
MicroCapital Universe Profile: Triodos Investment Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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