Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s first investments in Mexico, lending EUR 12 million (USD 12 million) to Mega and EUR 3.6 million (USD 3.6 million) to ProCredito, financial services providers whose clients include many agricultural small and medium-sized enterprises (SMEs). Both investees are active in lending intended to minimize the effects of
Category: Deals
MICROCAPITAL BRIEF: Monte Credit Borrows $600k from Grameen Crédit Agricole Foundation for Agricultural, Business Microfinance in Montenegro
The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, has announced disbursing a loan of EUR 600,000 (USD 600,000) to the Montenegro-based microfinance institution (MFI) Monte Credit. Monte Credit focuses on
MICROCAPITAL BRIEF: Bboxx Acquires Peg Africa, Expanding Solar Energy Footprint, Product Lineup
Bboxx, a UK-registered solar energy firm, recently paid an undisclosed sum to acquire Peg Africa, a company based in Ghana that offers rent-to-own financing for solar products in West Africa. In addition to Ghana, the acquisition adds
MICROCAPITAL BRIEF: Kiva Refugee Investment Fund Lending $1.5m to FINCA Guatemala to Support Returning Migrants
FINCA Guatemala, whose name derives from that of the US-based Foundation for International Community Assistance (FINCA International), recently agreed to borrow USD 1.5 million over two years from the Kiva Refugee Investment Fund, which is managed by Kiva Capital, a unit of the US-based NGO Kiva. The goal is to expand lending to “Guatemalan migrants returning
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends $860k to Salym for Microfinance in Kyrgyzstan
The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation has reported providing a loan in local currency approximately equivalent to USD 860,000 to Salym Finance, a microfinance institution (MFI) in Kyrgyzstan, with the aim
MICROCAPITAL BRIEF: Helmig’s FS Invest Buys 75% of Invest in Visions, Microfinance Fund Manager in Germany
FS Invest Holding, which is owned by Germany’s Helmig family, recently paid an undisclosed sum to acquire a 75-percent stake in Invest in Visions (IIV). Launched in 2006, IIV manages “investments in sustainable agriculture, social enterprises and social impact lending,” including in microfinance institutions (MFIs) and decentralized
MICROCAPITAL BRIEF: Grupo Mega Nets $10m for SME Leasing in Mexico via Bond Sale to MicroVest
MicroVest, a debt-focused asset manager owned by US-based DAI Global, recently purchased USD 10 million in bonds from Mexico’s Grupo Mega to support leasing by small and medium-sized enterprises (SMEs), which can help SMEs “remain capital-light [in a way] that
MICROCAPITAL BRIEF: ASN Bank Lends EFSE $50m for Micro-, Small Enterprises; Households in Europe, Western Asia
ASN Bank, a retail banking member of the Netherlands’ de Volksbank, recently agreed to purchase EUR 50 million (USD 50 million) in notes from the European Fund for Southeast Europe (EFSE), which provides investments and technical assistance to microfinance institutions and other lenders in Eastern and Southeastern Europe as well as Western Asia.
The director of ASN’s sustainable finance team, Yvonne van Hoof, explained, “Via this investment, we are ultimately able to improve the quality of
MICROCAPITAL BRIEF: Bank Respublika of Azerbaijan Borrows $8m from EMF Microfinance Fund for On-lending to SMEs
Switzerland-based investing firm Enabling Qapital recently disbursed a subordinated loan of USD 8 million from its Enabling Microfinance Fund (EMF) to Bank Respublika, which focuses on
MICROCAPITAL BRIEF: In 1st Disbursement, Verdant Capital Hybrid Fund Loans $7m to Watu Credit Uganda to Expand Vehicle Financing
Verdant Capital, a Mauritius-based corporate finance firm, recently issued subordinated debt in the amount of USD 7 million to Watu Credit Uganda, an affiliate of Kenya’s Watu Credit, which funds vehicles and mobile phones in six African countries. While Watu also funds smartphones, tuk tuks (three-wheelers) and cars,
MICROCAPITAL BRIEF: Kiva Lends $2m to Migrante, Provider of Vehicle Loans to Migrants from Venezuela to Chile
Kiva Capital, a unit of the US-based NGO Kiva, recently informed MicroCapital that it has loaned USD 2 million to Migrante, a lender to migrants and refugees in Chile, through its Kiva Refugee Investment Fund. Founded in 2018, Migrante is a financial technology (fintech) firm with 27,000 borrowers, mainly
MICROCAPITAL BRIEF: Fintech Zeepay Nets $10m in Debt Financing, Expanding Digital Wallet Services in Africa, Latin America
Verdant Capital, an African corporate finance firm, recently announced it has raised USD 10 million in “medium-term” debt funding for Zeepay, a financial technology (fintech) company serving 20 countries in Africa as well as – via partners – markets in the Americas and Europe. Zeepay, which has offices in Ghana and the UK, plans to use the funding to expand:
MICROCAPITAL BRIEF: EBRD Loans Banca Transilvania $25m to Support Businesses in Romania Adjusting to War in Ukraine
The multilateral European Bank for Reconstruction and Development (EBRD) recently lent EUR 25 million (USD 25 million) to Banca Transilvania (BT), a Romania-based bank, to on-lend to enterprises affected by the war in Ukraine. The loan is a part of
MICROCAPITAL BRIEF: Tanzania Mortgage Refinance Company (TMRC), Habitat for Humanity Partner to Bolster Housing Microfinance
The Tanzania Mortgage Refinance Company (TMRC) recently signed a memorandum of understanding with US-based NGO Habitat for Humanity International to “support lower-income Tanzanians and those working in the informal sector to more easily purchase, build or upgrade their homes.” With technical assistance from Habitat for Humanity, TMRC will perform a market study and design housing microfinance products that
MICROCAPITAL BRIEF: PAIDEK of DRC, MicroLoan Foundation Zambia Borrow $1m from Grameen Crédit Agricole for Microfinance in Africa
The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently announced it has issued a loan of approximately USD 550,000 to Programme d’Appui aux Initiatives de Développement Economique du Kivu (PAIDEK) of the Democratic Republic of Congo (DRC) and
MICROCAPITAL BRIEF: FMO Issuing Senior, Secured Loan of $10m in Local Currency to NeoGrowth for Microfinance Lending in India
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently signed a senior, secured facility equivalent to USD 10 million in local currency to India’s NeoGrowth to expand its lending to microenterprises. Founded in 2013, NeoGrowth provides loans to micro-, small, and medium-sized enterprises (MSMEs) based on
MICROCAPITAL BRIEF: ACEP Niger, ACFIME Borrow in Local Currency from Grameen Crédit Agricole Foundation for Microfinance in Sub-Saharan Africa
The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently announced it has issued a local-currency loan equivalent to EUR 762,000 (USD 756,000) in favor of Agence de Crédit pour l’Entreprise Privée (ACEP) Niger. As of 2022,
MICROCAPITAL BRIEF: EBRD, EFSE, GGF Lending $9m to Bank Lviv to Support SMEs in Ukraine in Adjusting to War
The European Bank for Reconstruction and Development (EBRD), a multilateral institution, is arranging a loan package of up to EUR 10 million (USD 10 million) for Ukraine’s Bank Lviv to support small and medium-sized enterprises (SMEs). The loan fulfills part of a pledge by EBRD to invest EUR 1 billion (USD 1 billion) this year into the Ukrainian economy to