Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle-income countries, recently issued a loan of USD 2.25 million to Egypt-based Money Fellows. Money Fellows plans to use the fresh capital to expand its digitization of rotating savings and credit associations (ROSCAs), also known as money circles, as well as to broaden
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MICROCAPITAL BRIEF: Kashf Foundation of Pakistan Borrows in Local Currency from SEB Microfinance Funds, Arranged by Symbiotics
Kashf Foundation, a provider of microloans and microinsurance to women in Pakistan, recently secured a local-currency loan of undisclosed size from SEB Microfinance Funds, an offering of
MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
Symbiotics Investments recently issued a loan of USD 7.5 million to Tunisie Leasing and Factoring (TLF) “to further expand its renewable energy and energy-efficient machinery and equipment offerings” for small and medium-sized enterprises (SMEs) in Tunisia. Symbiotics sourced the funding
MICROCAPITAL BRIEF: AMK of Cambodia Borrowing $7.5m for Green Microfinance via Bond Issue from BII, Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently disbursed USD 7.5 million to Cambodia’s AMK Microfinance Institution to fund its ongoing lending for electric two- and three-wheeled vehicles as well as new products, such as
MICROCAPITAL BRIEF: Agricover Credit Raises $9m for Agricultural SMEs in Romania via Symbiotics Bond Issue
Agricover Credit IFN, a non-banking financial institution in Romania that provides agribusinesses with agricultural inputs, technology and finance, recently partnered with Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, to raise USD 9 million via a bond issue. Symbiotics structured the transaction to be
MICROCAPITAL BRIEF: Lulalend Raises $4.7m for SMEs in South Africa via Symbiotics Social Bond
Lulalend, a funder of small and medium-sized enterprises (SMEs) in South Africa, recently partnered with Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, to issue bonds supplying USD 4.7 million to Lulalend. The bond issue is deemed socially responsible per the
MICROCAPITAL BRIEF: Sun King Nets $10m from Proparco for Solar Products in Africa via Bond Issue Arranged by Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently arranged a bond issue channeling USD 10 million from the French development finance institution Promotion et Participation pour la Coopération Économique (Proparco) to Sun King, a US-based firm selling solar products in Arica and Asia. Formerly known as GreenLight Planet, Sun King was founded in 2009. Its products include five types of solar lights, four types of home solar electrification kits and an inverter to
MICROCAPITAL BRIEF: Baobab+ Borrows $5.1m from Symbiotics to Boost Solar Electrification in 6 Countries in Africa
Symbiotics, a Switzerland-based investor focused on small businesses in low- and middle- income countries, recently extended a loan of EUR 5 million (USD 5.1 million) to Baobab+, a French energy and technology company, with the objective of increasing electrification rates in Congo, Cote d’Ivoire, Madagascar, Mali, Nigeria and Senegal. Founded in 2015, Baobab+ provides access to solar energy and digital technology with the goal of
MICROCAPITAL BRIEF: Symbiotics Raising $17m in Green Bonds for Sun King to Finance Household Solar Technology in Africa, Asia
Symbiotics, a Switzerland-based investor focused on small businesses in low- and middle- income countries, recently listed bonds on the Luxembourg Green Exchange to raise USD 17 million for Sun King, a Kenya-based firm selling solar technology in 62 countries. Sun King plans to use the proceeds to
MICROCAPITAL BRIEF: BII Investing $75m in MSME Funders via Symbiotics to Enable “Green” Projects in Africa, Asia
British International Investment (BII), the UK’s development finance institution, recently subscribed to a bond issuance arranged by Switzerland-based Symbiotics in the amount of USD 75 million to be invested in 10 to 15 funders of micro-, small and medium-sized enterprises (MSMEs) in Africa, South Asia and Southeast Asia to boost “small-scale green projects and businesses.” To support the investments, BII has committed USD 520,000 in technical assistance for the retail lenders to help their clients invest in assets such as “rooftop solar panels, sustainable agriculture, energy-efficient appliances” and others. The program spans
MICROCAPITAL BRIEF: Symbiotics Invests $7.5m in Evocabank of Armenia for MSMEs
Evocabank of Armenia recently gained access to USD 7.5 million from Switzerland-based Symbiotics to on-lend to micro-, small and medium-sized enterprises (MSMEs) with goals including to boost market competition and job creation. Symbiotics sourced the funds from
MICROCAPITAL BRIEF: Symbiotics to Place $105m in Debt for Pensioenfonds Detailhandel in Microfinance, SME Finance in Emerging Markets
Symbiotics, a Switzerland-based investor, recently announced that Pensioenfonds Detailhandel, an administrator of pensions for Dutch retail workers, has selected the firm to manage a private debt fund with a volume of EUR 100 million (USD 105 million) with the aim of enabling progress toward the UN Sustainable Development Goals (SDGs). The portfolio will focus on investing local currency to support
MICROCAPITAL BRIEF: Equity Group Nets Over $165m from IFC, BII, FMO, ResponsAbility, Symbiotics for Climate Projects, Financial Inclusion for MSMEs in Africa
Partially through its Financial Institutions Growth Fund, the International Finance Corporation (IFC), a member of the World Bank Group, is paying an undisclosed sum to acquire a 6.7-percent stake in Equity Group Holdings, which has banking operations in Democratic Republic of Congo, Kenya, Rwanda, South Sudan, Tanzania and Uganda. IFC and the UK government’s British International Investment (BII) also are each lending the group’s Equity Bank Kenya
MICROCAPITAL BRIEF: Cooperative Daquilema, Symbiotics Partner on $6.5m Bond Issue to Boost MSME Lending Among Indigenous Populations in Ecuador
Cooperativa de Ahorro y Crédito Fernando Daquilema, a cooperative in Ecuador, recently partnered with Symbiotics, a Switzerland-based impact investing firm, to raise USD 6.5 million via a bond issue with a term of three years. Daquilema is to on-lend the funds in amounts up to
MICROCAPITAL BRIEF: Symbiotics Partners with Cooperative CACPECO on $14m Bond for Housing, MSME Lending in Ecuador
Symbiotics, a Switzerland-based impact investing firm, recently partnered with Cooperativa de Ahorro y Crédito de la Pequeña Empresa de Cotopaxi (CACPECO), a cooperative in Ecuador, to fund it with the proceeds of a bond in the amount of USD 14 million, for a term of 4 years. The funds are to be used for: (1) housing loans with 15-year terms and interest rates of 9.9 percent per year; and (2) business loans of up to USD 1 million for micro-, small and medium-sized enterprises (MSMEs). Of the MSME loans,
MICROCAPITAL BRIEF: Tugende Raises $17m in Debt from Symbiotics, Goldfinch, Nordic Microfinance Initiative, Lendahand to Expand Vehicle, Equipment Financing for MSMEs in Kenya, Uganda
Tugende, a financial technology (fintech) firm specializing in vehicle finance in Uganda and Kenya, recently raised USD 17 million in debt funding. The firm plans to use USD 12 million of the fresh cash to support growth in
MICROCAPITAL BRIEF: ACBA, Symbiotics Partnering on $6.7m Bond Issue for MSMEs, Green Lending in Armenia
The Agricultural Cooperative Bank of Armenia (ACBA), a commercial and investment bank, and Symbiotics, a Switzerland-based impact investing firm, recently partnered to raise USD 6.75 million for onlending in Armenia. Symbiotics will list a sustainability bond on the
MICROCAPITAL BRIEF: Symbiotics Raises $4.6m via Green Bond for Samunnati Financial for Sustainable Agriculture in India
India’s Samunnati Financial Intermediation & Services, whose customers are farmer-producer organizations and other members of agricultural value chains, recently raised the rupee-equivalent of USD 4.6 million in a bond issue handled by Symbiotics, a Switzerland-based impact investing platform. The bond transaction is the first by Symbiotics that specifically promotes