by Aarya Dhru -

MICROCAPITAL BRIEF: Belgian Investment Company for Developing Companies (BIO) Names Joris Totté as CEO

The government-owned Belgian Investment Company for Developing Companies, also known as BIO, has announced that Joris Totté will be its new CEO. Mr Totté will succeed Luuk Zonneveld, who has held the title for 11 years and has taken on the role of Chair of the Association of European Development Finance Institutions (EDFI), a Brussels-based NGO

by Elva Montelongo -

MICROCAPITAL BRIEF: BIO Loans $15m to AMK Microfinance of Cambodia

BIO, a government-owned institution also known as the Belgian Investment Company for Developing Countries, recently loaned USD 15 million to Cambodia’s Angkor Microheranhvatho Kampuchea (AMK). AMK provides individuals as well as micro-, small and medium-sized enterprises with

by Adhya Singh -

MICROCAPITAL BRIEF: Spark+Africa Fund Raises $40m in Equity from Public, Private Investors for Clean Cookstove Industry in Sub-Saharan Africa

The Spark+Africa Fund, an investor in cookstoves that create less pollution and use less fuel, recently launched with a total of USD 40 million invested by 12 organizations. Spark+ invests across the value chain for

by Sheen Gupta -

MICROCAPITAL BRIEF: Satisfied Producer of Palm Oil in DRC Has Been “Brought Back from the Brink,” DFIs Sell Debt Holdings in PHC to Maku; Funding to Improve Community Relationships Will Continue

Four European development finance institutions (DFIs) recently sold their debt holdings in Plantations et Huileries du Congo (PHC), a palm oil business in Democratic Republic of the Congo, to Maku Holdings, an affiliate of Kuramo Capital Management, which has offices in Kenya, Nigeria and the US. The DFIs are

by Bradley Shulman -

MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa

Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting

by Sophie Fiala -

MICROCAPITAL BRIEF: Incofin Assists SOPROCOPIV Coffee Cooperative with Fairtrade Certification, COVID-19 Adjustment in Democratic Republic of Congo (DRC)

Incofin, an investment management firm based in Belgium, recently launched a technical assistance project for Solidarité pour la Production et la Commercialisation des Produits Industriels et Vivriers (SOPROCOPIV), a coffee cooperative in the Democratic Republic of Congo (DRC). The goal is to help SOPROCOPIV become certified by Germany’s Fairtrade International by

by Michelle Fleming -

MICROCAPITAL BRIEF: Fusion Microfinance Raises $72m in Equity from Warburg Pincus, Creation Investments; Provides Exits to Incofin, Nordic Microfinance Initiative, SIDBI, BIO

US-based investors Warburg Pincus and Creation Investments recently placed INR 520 crore (USD 72 million) in equity in Fusion Microfinance, a provider of group loans and financial literacy training to women in rural areas of northern and central India. As part of the funding round, the following investors sold their stakes in the