This story comes to us here at MicroCapital.org courtesy of the May 2007 CGAP-MIX Capital Markets Update Newsletter. The Dutch fund Hivos-Triodos made a loan of USD 1.56 mn to the Cambodian microfinance institution (MFI) AMRET, formerly EMT. According to the MIX Market, the microfinance information clearinghouse, it was established in 1991 to provide loans and voluntary savings. As of the end of 2006, it had a gross loan portfolio of USD 17.6 mn and USD 22.8 mn in total assets. Its capital to asset ratio is 25.79% and its debt to equity ratio is 287.81%.
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Dutch Hivos-Triodos Fund and Triodos Fair Share Fund Make a USD 1.45 mn Loan to K-REP Bank of Kenya
More deals coming to us courtesy of the April 2007 CGAP-MIX newsletter. The Kenyan full-scale financial services bank K-REP received a USD 1.45 loan from the Hivos-Triodos Fund and the Triodos Fair Share Fund. K-REP reported to the MIX Market, the microfinance information clearinghouse, at the end of 2006 as having a gross loan portfolio of USD 54 mn and USD 74.9 mn in total assets spread over 114,301 active borrowers. It has a 17.2 percent capital to asset ratio, a 481.36 percent debt to equity ratio, and a 43.95 percent deposit to loan ratio during the same period.
Continue reading “Dutch Hivos-Triodos Fund and Triodos Fair Share Fund Make a USD 1.45 mn Loan to K-REP Bank of Kenya”
Hivos-Triodos Lends USD 1 mn to FINCA Ecuador and USD 800,000 to Edpyme Crear Tacna in Peru
Another story courtesy of the CGAP/MIX capital markets newsletter. Hivos-Triodos, a microfinance fund based out of the Netherlands, made two loans to microfinance institutions (MFIs) in Latin Americr worth a total of USD 1.8 mn. The first of the two loans is a USD 1 mn investment in FINCA Ecuador, which was established in 1994 “to provide financial services and products to the lowest income families in Ecuador.” It reported to MIX marke, the microfinance information clearinghouse, as having a gross loan portfolio of USD 27.9 mn and USD 25 mn at the end of 2006.
Dutch Foundation Triodos-Doen and Hivos-Triodos Fund provide a USD 1.3 mn Loan to Microfinance Institution Kazakhstan Loan Fund
The Kazakhstan Loan Fund (KLF), a Kazakh microfinance institution (MFI) received the equivalent of USD 1.3 mn in loans through a partnership with Triodos-Doen and the Hivos-Triodos Fund. KLF, whose is mission is to “improve the life conditions of our community through offering financial and non financial services to the population,” provides peer and individual lending services. As of 31 December 2006, KLF has a gross loan portfolio of USD 26.2 mn and USD 41 mn in total assets, according to MIX market, the microfinance information clearinghouse. KLF also reported a 17.53% capital to asset ratio and 470% ratio of debt to equity. At the end of 2005, KLF was 152.38% self-sufficient.
Reliance Financial Services Receives $500,000 in Loans from ShoreCap International Ltd. and the Hivos-Triodos Fund
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Reliance Financial Services Company based in Gambia, received a USD 250,000 loan from ShoreCap, and a USD 250,000 loan from Hivos-Triodos Fund. Financial Reliance goal is to increase banking services available to the Gambian Population, thus empowering the nation financially in an effort to reduce poverty. Currently, Financial Reliance does not report to the MIX Market, the microfinance information clearing house, and no financial information about the institution’s performance is currently available.
Nicaraguan Microfinance Institution Findesa Receives a USD 1.25 mn Loan from Triodos Fair Share Fund
The Triodos Fair Share Fund provided USD 1.25 mn in loans to Nicaraguan microfinance institution (MFI) Financiera Nicaraguense de Desarrollo S.A. (FINDESA). Triodos is a closed mutual fund of the Triodos Bank that began in 2002. According to MIX market, the microfinance information clearinghouse, it had USD 18.6 mn in fund assets and 13 active microfinance investments as of 31 December 2005. 62 percent of its investments are located in Latin America and the Caribbean, 17 percent in East Asia and the Pacific, 12 percent in Africa, and the remaining 9 percent in Eastern Europe and Central Asia
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Pro Mujer Bolivia Receives 1 Million in Microfinance Loans from Hivos-Triodos and responsAbility Global Microfinance
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Pro Mujer Bolivia received a USD 500,000 loan from Hivos-Triodos Fund and a USD 500, 000 loan from responsAbility Global Microfinance Fund. Pro Mujer is an international microfinance network which offers an integrated package of services including loans, savings, business training, healthcare and education to Latin America’s poorest female entrepreneurs. Established in Bolivia in 1990, Pro Mujer also operates in Argentina, Mexico, Nicaragua and Peru. Pro Mujer Bolivia is Pro Mujer’s pilot program, and has been the model on which all the other country programs have been built. As of December 2006 Pro Mujer Bolivia had 74,106 active borrowers. Its gross loan portfolio equaled USD 13,588,275, total assets equaled USD 18,320,623, total equity equaled USD 8,573,644 and its debt to equity ratio was 113.69%.
Hivos-Triodos Fund Invests $232,904 in the Microfinance Institution, Bereke
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Hivos-Triodos Fund invested USD 232,904 in Bereke, based in Eastern Kazakhstan. The investment by Hivos-Triodos Fund hopes to encourage growth in the foundation by providing the means for new loans. Created in 2003, Bereke’s mission is to promote a better life through economic support. According to the MIX Market, as of December 31st 2005, Bereke had a gross loan portfolio of USD 1,272,880 total assets of 1,513,099, a return on assets of 14.90% and a debt to equity ratio of 0.72%.
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Hivos-Triodos Invests 1 million in the Honduran Microfinance Institution, ODEF
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Hivos-Triodos Fund loans USD 1 mm to ODEF. ODEF (Organización de Desarollo Empresarial Feminino) is a Honduran non-profit microfinance institution that was established in 1992. According to the MIX Market, the microfinance institution informational clearinghouse, ODEF’s gross loan portfolio equaled USD 7.9 mm, and its total assets were USD 10.3 mm at year’s end 2005. Its debt to equity ratio was 142.45%, its return on assets was 2.02%, and its return on equity was 4.32% at that time. In addition, as of the end of 2005, it reached 13,826 active borrowers and 8,101 savers.
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Hivos-Triodos Fund Invests 561,600 in Marang Financial Services
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Hivos-Triodos Fund loans USD 561,600 to Marang Financial Services, based in South Africa. The investment by Hivos-Triodos Fund hopes to encourage growth in the foundation by providing the means for new loans. Marang Financial Services (Marang) is a Development Microfinance Institution, working towards enabling poor to access a range of financial services. Marang does not report to the MIX Market, the microfinance clearing house, but according to its annual report, as of March 31st 2003, Marang had total assets amounting to approximately USD 16.5 mm.
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Hivos-Triodos loans 650,300 to Sinapi Aba a Ghanaian Microfinance Institution
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Hivos-Triodos Fund loans USD 650,300 to Sinapi Aba Savings and Loans Ltd, based in Ghana. Sinapi established in 2004 to provide financial services in the form of loans and deposits to micro and small entrepreneurs in order to help increase their income. According to the MIX Market, as of December 31st 2005, Sinapi had a gross loan portfolio of USD 4,766,482 total assets of 8,211,045, a return on assets of -0.45% and a debt to equity ratio of 160.69%.
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Hivos-Triodos Fund Loans 1.18 million to Pride Tanzania
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter. Hivos-Triodos Fund loans USD 1.18 mm to Pride Tanzania. The investment by Hivos-Triodos Fund hopes to encurage growth in the foundation by providing the means for new loans. Established in 1994, the mission of Pride Tanzania is to create a sustainable financial services network for micro-entrepreneurs in order to stimulate business growth, and alleviate poverty in Tanzania. According to the MIX Market, as of December 31st 2005, Pride Tanzania had a gross loan portfolio of USD 12,738,424 total assets of 13,779,696, a return on assets of 3.79% and a debt to equity ratio of 271.11% . In addition, as of December 31st 2005, Pride Tanzania had active borrowers totaling 71,315.
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Hivos-Triodos Fund Invests 300,000 in Fundación José Nieborowski
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter. Hivos-Triodos Fund invested USD 300,000 in Fundación José Nieborowski, based in Nicaragua. The investment by Hivos-Triodos Fund hopes to encurage growth in the foundation by providing the means for new loans. Fundación José Nieborowski is a non-regulated financial institution, created in Boaco, a town in the interior of Nicaragua. The organisation is specifically active in cattle breeding areas of Nicaragua. Fundación José Nieborowski goal is to alleviate poverty by providing services for small entrepreneurs of both rural and urban sectors. According to the MIX Market, as of December 31st 2005, Fundación José Nieborowski had a gross loan portfolio of USD 15,590,101 total assets of 17,669,008, a return on assets of 4.21% and a debt to equity ratio of 338.75%. Micro-Rate, a rating agency of microfinance, has given Fundación José Nieborowski a rating of B + for 2004.
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South Africa’s Small Enterprise Foundation Receives USD 421,800 loan from Dutch Triodos Group
News coming to us courtesy the MCM newsletter, South Africa’s Small Enterprise Foundation (SEF) has been granted a syndicated loan worth ZAR 3mn (about USD 421,800) from the Hivos-Triodos Fund and Triodos-Doen.
SEF, non-profit NGO was started in 1992 in the Limpopo provine of South Africa. As of mid-2006, it had 34,553 active borrowers accounting for a gross loan portfolio of USD 5.3mn on a total equity base of USD 2.6mn. Like most NGOs in Africa, it is non profitable having recorded a -1.96% ROA as 8/12/2006. In 2003, it received the Pioneer Award by Grameen Foundation.
Triodos-Doen and Triodos Fair Share Fund Purchase USD 154,000 in Equity from Mongolian XacBank
The CGAP-MIX MCM Newsletter recently reported that Mongolian microfinance institution (MFI) XacBank, sold USD 154,000 in equity to Dutch microfinance funds Triodos-Doen Foundation and Triodos-Doen Foundation.
XacBank formed in 2001 after Goviin Ekhlel and X.A.C., Mongolia’s two largest non-bank financial institutions, merged. As of the end of 2005, the bank had a gross loan portfolio of $30 million, total assets of $48.1 million, and total equity of $7.7 million, according to the microfinance information database, MIX Market. XacBank’s return on assets was 2.59% while return on equity was 16.31%. It received an A from the microfinance rating agency, Planet Rating.
Prodem of Bolivia Receives a $1.5 Million Loan from Triodos-Doen and Triodos Fair Share Fund. FIE of Bolivia Sells $526,352 USD Shares Worth to Triodos-Doen, Hivos-Triodos Fund, and Triodos Fair Share
As reported in this month’s CGAP-MIX Capital Markets Newsletter, Prodem of Bolivia received a syndicated loan of USD 1.5 million from Triodos-Doen and Triodos Fair Share Fund.
Also, FIE of Bolivia sold shares worth BOB 3.9 million (USD 516,352) to Triodos-Doen, Hivos-Triodos Fund and Triodos Fair Share Fund.
Triodos-Doen and Triodos Fair Share Fund Lend a Total of $250,000 to FINDESA of Nicaragua
More news coming to us courtesy of this edition of the CGAP-MIX MCM Newsletter, FINDESA, Nicaragua, received two loans for the total amount of $250,000 from Triodos-Doen and Triodos Fair Share Fund.
Continue reading “Triodos-Doen and Triodos Fair Share Fund Lend a Total of $250,000 to FINDESA of Nicaragua”Fondo de Desarrollo Local (FDL) Receives $2.5 Million Loan from Triodos-Doen, Hivos-Triodos Fund, and Triodos Fair Share Fund
More news coming to us courtesy of this edition of the CGAP-MIX MCM Newsletter, FDL of Nicaragua, received a $2.5 million loan from Triodos-Doen, Hivos-Triodos Fund and Triodos Fair Share Fund.
Continue reading “Fondo de Desarrollo Local (FDL) Receives $2.5 Million Loan from Triodos-Doen, Hivos-Triodos Fund, and Triodos Fair Share Fund”