Category: Investment Funds

MICROCAPITAL BRIEF: ACCION Microfinanças of Manaus, Brazil Begins Disbursing Microfinance Loans

ACCION Microfinanças, a microfinance institution (MFI) operating in Brazil as a subsidiary of US-based nonprofit ACCION International, recently disbursed its first loan. Officially established in December 2010, ACCION Microfinanças aims support to poor people and small and medium-sized enterprises (SMEs) in the Amazon region through access to microcredit. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $2.9m to CREDIT of Cambodia, Sathapana Limited of Cambodia, HUMO and Partners of Tajikistan, Community Economic Ventures Incorporated (CEVI) of the Philippines

responsAbility Social Investments AG, an investment company based in Switzerland, has recently reported to MicroCapital that it has made loans totaling the equivalent of USD 2.9 million to microfinance institutions (MFIs) in Cambodia, Tajikistan and the Philippines. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments Loans Total of $5.8m to Banco Solidaro of Ecuador, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Edpyme Alternativa of Peru, Apoyo Integral of El Salvador

responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made loans totaling approximately USD 5.8 million to microfinance institutions (MFIs) in Ecuador, Peru and El Salvador. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Grants $771k to Bank South Pacific (BSP) Rural Through Pacific Microfinance Initiative to Bring Electronic Banking Services to Rural Entrepreneurs in Papua New Guinea

The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington, DC, recently provided Bank South Pacific (BSP) Rural, a subsidiary of the privately-owned commercial bank BSP, a USD 771,000 “performance-based” grant through the Pacific Microfinance Initiative, a joint effort between the Australian government and IFC, to bring electronic banking services to small business owners in Papua New Guinea. Continue reading

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MICROCAPITAL BRIEF: SNS Asset Management of Netherlands Launches SNS Impact Investing with $400m Managed for Microfinance, Agriculture, Water

SNS Asset Management (SNS AM), a Dutch fund manager, has announced the launch of its impact investing unit, SNS Impact Investing, which will focus on investments in microfinance, sustainable agriculture and water. The new unit will consist of a team of ten people, headed by Harry Hummels, who serves as a board member of SNS AM, and Theo Brouwers, who is a director of SNS AM. Continue reading

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MICROCAPITAL BRIEF: Belgian Incofin Loans $1.5m to TenGer Financial Group of Mongolia

Incofin cvso, a Belgian cooperative company that invests in microfinance, recently loaned MNT 41 million (USD 1.5 million) to Tenger Financial Group, a Mongolian Company that controls XacBank LLC, XacLeasing LLC, Horus Nomadic Solutions LLC and TenGer Insurance LLC. Founded in 2001, the group was formed following the merger of Goviin Ehlel (renamed XAC-GE Holding) and X.A.C. (renamed XacBank), two non-bank financial institutions that focus on micro-, small and medium enterprises. Continue reading

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MICROCAPITAL BRIEF: Agora Microfinance Partners To Launch Fund Investing in Africa, Asia

Agora Microfinance Partners LLP, a London-based outfit that invests equity in microfinance institutions (MFIs) in Asia and Africa, will launch the Agora Microfinance Fund in early 2011. The microfinance investment vehicle will be the first microfinance investment fund managed by Agora Microfinance Partners, which currently invests via Mauritius-based investment vehicle Moringaway. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments Announces Equity Investment in PlaNet Finance Investment Services (PlaNIS)

responsAbility Social Investments AG, an investment company based in Switzerland, has recently invested an undisclosed amount in PlaNet Finance Investment Services (PlaNIS), a subsidiary of Paris-based nongovernmental organization(NGO) PlaNet Finance. PlaNIS is a limited liability company that advises social investment funds in the areas of sourcing, due diligence and risk assessment of microfinance investments. The subsidiary will now operate under the name PlaNIS responsAbility SAS. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments Makes Loans Totaling $12.5m to Belarusian Bank for Small Business (BBSB) of Belarus, Khan Bank of Mongolia, XacBank of Mongolia

responsAbility Social Investments AG, an investment company based in Switzerland, recently invested USD 12.5 million across three financial institutions based in Belarus and Mongolia. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $2m to FINCA DRC of Democratic Republic of the Congo, First Allied Savings and Loans Limited (FASL) of Ghana

responsAbility Social Investments AG, an investment company based in Switzerland, has recently reported to MicroCapital that it has made loans totaling USD 2 million to microfinance institutions (MFIs) in Democratic Republic of the Congo and Ghana. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $10m to FINCA International Subsidiaries in Azerbaijan, Russia, Ecuador and Mexico

responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has invested loans approximately equivalent to USD 10.2 million to FINCA International subsidiaries in Azerbaijan, Russia, Ecuador and Mexico. FINCA International is a global microfinance network operating in 21 countries reporting total assets of USD 467 million as of 2009 [2]. Continue reading

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MICROCAPITAL SPECIAL REPORT: “Principles for Investors in Inclusive Finance” Launched at Responsible Finance Forum in The Hague, Netherlands

A group of 40 global investors in the microfinance industry, including US retirement planning firm TIAA-CREF and several microfinance investment vehicles (MIV), recently launched a set of guiding principles for investing in the microfinance industry at the Responsible Finance Forum in The Hague, Netherlands. The initiative – titled “Principles for Investors in Inclusive Finance” – is reportedly the brainchild of Her Royal Highness Princess Maxima, the United Nations Secretary General’s Special Advocate for Inclusive Finance for Development, and a core group of Dutch investors, including; Triodos, a microfinance investment vehicle (MIV); Goodwell, a for-profit social investment outfit; Oikocredit, a cooperative investment fund; PGGM, an investment and pension firm; and SNS Asset Management, an institutional investment group. The group and Her Royal Highness Princess Maxima developed the principles together with CGAP and the United Nations-backed Principles for Responsible Investment (PRI), a network of international investors created to promote the practice of responsible investing. Continue reading

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MICROCAPITAL BRIEF: Mission Markets Announces First Microfinance Investment on Its Impact Investment Platform

Mission Markets Incorporated, a New York-based financial services outfit that operates online platforms connecting investors with socially oriented businesses, recently announced the posting of its first investment offering in microfinance. In this case, the offering is to purchase assets from Envest Microfinance, a cooperative based in the US state of Wisconsin that reported USD 500,000 invested in Latin American microfinance institutions (MFIs) as of 2008. Continue reading

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MICROCAPITAL BRIEF: Asian Development Bank, Government of Japan Invest $2m for Bangladeshi Remittance Service, Financial Literacy Training

The board of directors of the Asian Development Bank (ADB), a development finance organization based in Manila, Philippines, has approved a USD 2 million grant from the Japan Fund for Poverty Reduction, an investment fund that is administered by ADB and funded by the government of Japan, for the development of remittance services for Bangladeshi migrant workers. Continue reading

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MICROCAPITAL BRIEF: Calvert Foundation, Investor in Microfinance and Community Development, Appoints Lisa Hall as New Head

The board of Calvert Foundation, a US-based organization that invests in microfinance and community development projects in the US and around the world, has recently appointed Lisa Hall to succeed Shari Berenbach as its President and CEO. Ms Berenbach served as the head of Calvert Foundation from 1997 to 2010, during which the organization’s total assets under management grew from USD 5 million to USD 500 million. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments AG of Switzerland Launches responsAbility Ventures I, a Venture Capital Fund That Invests in Companies Aiming for Development Impact

responsAbility Social Investments AG, an investment company based in Switzerland, recently launched responsAbility Ventures I, a venture capital fund that invests in companies that provide basic services in the areas of energy, agriculture and information and communication technology (ICT) to the bottom of the pyramid (BOP). The BOP refers to approximately 3 billion people in Asia, Latin America and Eastern Europe who do not have adequate access to these services. Continue reading

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MICROCAPITAL BRIEF: Nigeria Federal Government Supports Central Bank of Nigeria (CBN) to Establish Microfinance Development Fund

Nigeria’s President Goodluck Jonathan recently announced at the country’s fifth Annual Microfinance Conference and Entrepreneurial Award Ceremony that the federal government would support the Central Bank of Nigeria’s (CBN’s) plan to establish a Microfinance Development Fund dedicated towards developing the country’s microfinance sector. Continue reading

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MICROCAPITAL BRIEF: India’s National Bank for Agriculture and Rural Development (NABARD) Looking to Invest in Venture Capital Funds

The National Bank for Agriculture and Rural Development (NABARD) of India, which regulates and promotes microfinance activities in rural areas, recently announced that it is interested in investing in venture capital funds. Continue reading

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