The Grameen Foundation, an independent non-profit organization, has announced a two-year initiative to assist African microfinance institutions (MFIs) in targeting and tracking clients using its poverty assessment tool, the Progress out of Poverty Index (PPI).
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MICROCAPITAL BRIEF: Kenya’s ‘Pamoja Women’s Development Programme’ (PAWDEP), ‘Project Partner’ of Oikocredit, Becomes First African Microfinance Institution (MFI) to Submit Data to MFTransparency
The Pamoja Women’s Development Programme (PAWDEP), a Kenyan microfinance institution (MFI) that lends only to women, has become the first African MFI to submit product pricing data to MFTransparency, a company that provides pricing data for the microfinance industry [1,2]. PAWDEP is a “project partner” of Oikocredit, a “financier of microfinance” based in the Netherlands that was an early endorser of MFTransparency [1]. Oikocredit and PAWDEP began their relationship in 2008 when PAWDEP received a loan from the investor worth KES 84 million, the equivalent of over USD 1.1 million [1]. According to an Oikocredit press release, MFTransparency is now working with other Kenyan MFIs on the process of submitting product pricing data [1].
MICROFINANCE EVENT: Microfinance in the World Today: Opportunities, Challenges and Seeds of Hope by OikoCredit and the Center for Social Value Creation, November 2, 2009, College Park, Maryland, US
Event Name: Microfinance in the World Today: Opportunities, Challenges and Seeds of Hope
Event Description: Conference
Event Location: College Park, Maryland, United States
PRESS RELEASE: Microfinance Investor Oikocredit Announces Results of Social Audit
Source: Oikocredit.
PRESS RELEASE: Oikocredit’s Partner Microfinance Institutions Affected by Natural Disasters
Source: Oikocredit.
PRESS RELEASE: Microfinance Investor Oikocredit Backs MFTransparency
Source: Oikocredit.
PRESS RELEASE: Oikocredit Unveils results of International Empowerment Study
Source: PR Newswire
MICROCAPITAL STORY: Oikocredit Loans $2.3m to Microfinance Institutions Kitunda SACCO, Intellekt, FMFB Tajikistan, and PMRCA Perelik
For the month of April, the Netherlands-based Oikocredit Ecumenical Development Cooperative Society, a microfinance funding source, reported four loans to the CGAP Microfinance Dealbook, a monthly report on microfinance capital market transactions. Oikocredit granted a one-year USD 75,000 loan to the Kitunda SACCO in Tanzania, a four-year loan of USD 91,000 to Intellekt of Russia, a three-year loan of USD 2 million to the First Microfinance Bank of Tajikistan (FMFB), and a three-year USD 132,000 loan to PMRCA Perelik in Bulgaria. Oikocredit provides loans to about 500 microfinance institutions in 70 countries around the world. Between January and March 2009, Oikocredit provided USD 19.2 million in new loans in 69 countries. The organization currently funds 758 projects of which 501 are microfinance projects, the rest involving other types of social service. Through microfinance alone, Oikocredit claims to reach 16.8 million people. Oikocredit distributes its funding as follows: 40 percent in Latin America, 14 percent in Africa, 27 percent in Asia, 18 percent in Central and Eastern Europe, and 1 percent elsewhere. In November, MicroCapital reported that USAID and Oikocredit would partner together to contribute USD 36.2 million to microfinance institutions (MFIs) over the next ten years.
MICROCAPITAL STORY: Grameen Foundation and Oikocredit Offer Progress out of Poverty Index as Cornerstone of Socially Motivated Microfinance Investment Guidelines
The Grameen Foundation, in collaboration with Oikocredit, has developed a set of guidelines to help ensure a social impact of investments in microfinance. In a press release, the foundation stated that in 2006 over USD 663 million had been invested into microfinance by US-based investors, much of it by socially motivated investors looking for a “social return” as well as a financial return. Measuring the size of the social return, however, has always proved more difficult than measuring its monetary counterpart.
PRESS RELEASE: Oikocredit increases investments in turmoil of credit crisis
Source: Oikocredit.
MICROCAPITAL STORY: Fidelity Bank in Partnership with the Nigerian German Business Group (NGBG) to Host Business Forum on ‘Funding Microfinance Banks’ in Lagos; Forum Facilitates the Entry of OikoCredit International in Nigeria
Fidelity Bank Plc, a commercial bank based in Nigeria has forged a partnership with the Nigerian-German Business Group (NGBG) to host a business forum on ‘Funding MicroFinance Banks’ on January 15th, 2009 in Lagos, Nigeria. According to a press release found on NigerianBulletin.com, this partnership between Fidelity Bank and NGBG is intended to facilitate the entry of the Dutch microfinance organization, OikoCredit International into the Nigerian market. The press release stated that the CEO of Oikocredit International, Mr. Tor Gull, would lead other prominent experts in microfinance at the business forum to discuss ways to ‘shore up the capacity’ of Nigeria’s microfinance banks. The discussion would also unveil OikoCredit’s plan of expansion in Nigeria. According to the release, OikoCredit would set up a regional office in Nigeria and serve as a forum of exchange between its officials and key players in Nigeria’s small and medium enterprise sector, cooperative societies, microfinance and regulatory authorities. No further detail on the event or its participants is currently available.
MICROCAPITAL STORY: USAID and Netherlands-based Oikocredit Partner to Guarantee $36.2 million for Microfinance Over 10 Years
Oikocredit, a Dutch cooperative investment fund, and the United States Agency for International Development (USAID) announced a partnership which will leverage USD 36.2 million in private financing to support microfinance. USAID will provide a 50 percent guarantee on loans made by Oikocredit for ten years, and this guarantee is intended to increase private-sector financing to microenterprises and small-scale farmers, according to a press release by USAID. USAID has guaranteed loans for Oikocredit in the past, beginning in 2003 but this is the largest guarantee to date. Oikocredit’s loans are channelled through a network of regional offices worldwide and managed by local professionals.
MICROCAPITAL STORY: Moldovan Microfinance Institution (MFI) Microinvest Receives Investments totaling $5.5m from Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus
Recent investments totaling the equivalent of USD 5.5 million have been made to Moldovan microfinance institution (MFI) Microinvest by its shareholder’s: Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus. Oikocredit contributed the equivalent of USD 1.3 million, SEDF the equivalent of USD 834,055, BFSE the equivalent of USD 2.98 million and Richard Driehaus the equivalent of USD 367,995. The investments led to an increase in Microinvest’s authorized capital to the equivalent of USD 7.5 million. Microinvest aims to expand technology, products and services.
MICROCAPITAL STORY: Netherlands-based Oikocredit Invests $2.8m in Cambodian Microfinance Institutions Hatha Kaksekar Ltd and AMRET
CGAP (Consultative Group to Assist the Poor) recently reported that Dutch-based Oikocredit made investments in two Cambodian microlenders: a USD 1.28 million loan to HKL (Hatha Kaksekar Ltd) and a USD 1.55 million equity investment in AMRET.
MICROCAPITAL STORY: Oikocredit of the Netherlands Loans $10.3m to Microfinance Institutions Opportunity Bank Montenegro, Micro Finance Bank of Azerbaijian (MFBA) and Inicjatywa Mikro of Poland
CGAP (Consultative Group to Assist the Poor) reported in its recent list of transactions that Oikocredit, a Dutch investment fund formed by the World Council of Churches, lent USD 6.2 million to commercial bank Opportunity Bank Montenegro, USD 2.5 million to commercial bank Micro Finance Bank of Azerbaijian (MFBA) and USD 1.6 million to Inicjatywa Mikro, a Polish microfinance institution (MFI).
MICROCAPITAL STORY: Oikocredit of the Netherlands Invests $5m in Central American Microfinance Institutions: Asociación Pueblos en Accion Comunitaria (APAC), Cooperativa Mixta Mujeres Unidas Limitadas (COMIXMUL), Financiera Summa, S.A., Asociación Civil Guatemalteca Para el Desarrollo Integral (ASDESARROLLO), Fundación Hondureña para el Desarrollo de la Microempresa (FUNDAHMICRO), Asociación Cooperativa Dimas Rodriguez de R.L, Agencia de Desarrollo Economico Local (ADEL)
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative investment fund, invested nearly USD 5 million in seven microfinance institutions in Central America. Asociación Pueblos en Accion Comunitaria (APAC) of Nicaragua, Cooperativa Mixta Mujeres Unidas Limitadas (COMIXMUL) of Honduras and Financiera Summa, S.A., of Guatemala received the largest loan investments of USD 1 million each. Microfinance institution Asociación Civil Guatemalteca Para el Desarrollo Integral (ASDESARROLLO) of Guatemala received a loan of USD 725,000, and Fundación Hondureña para el Desarrollo de la Microempresa (FUNDAHMICRO) of Honduras was loaned USD 700,000 by the Dutch fund. El Salvadorian institutions, Asociación Cooperativa Dimas Rodriguez de R.L and Agencia de Desarrollo Economico Local (ADEL) were given USD 200,000 and 329,000 respectively.
MICROCAPITAL STORY: Oikocredit of the Netherlands Invests $3.9m in Three South American Microfinance Institutions: Edpyme Nueva, Asociación Benéfica PRISMA, and Cooperativa de Ahorro y Credito 23 de Julio Ltd.
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative investment fund, invested nearly USD 3.9 million in three microfinance institutions in South America. Cooperativa de Ahorro y Credito 23 de Julio Ltd. of Ecuador received a loan investment of 1.5 million. Peruvian microfinance institutions Asociación Benéfica PRISMA and Edpyme Nueva Vision received loans investments of USD 1.3 million and USD 1.1 million respectively.
MICROCAPITAL STORY: Oikocredit of the Netherlands Invests USD 4.7 million in Microfinance Institutions in India and Ghana
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative fund invested USD 4.7 million in loans to microfinance institutions in India and Ghana this past February 2008. A loan of USD 1.2 million went to Semam Microfinance Investment Literacy and Empowerment PVT (SMILE) of Madurai, India. Gram-Utthan, a CARE CASHE project in Orissa, India received a loan of USD 1.5 million, and Amalgamated Bank Limited of Ghana was granted a loan of USD 2 million.