The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution, recently committed loans to two members of Georgia’s Tbilisi Business Centre (TBC) Bank Group: one in local currency up to the equivalent of USD 20 million to TBC Bank and another of up to EUR 3 million (USD 3.1 million) to TBC Leasing. The purpose of the “medium- to long-term” loans is to enable micro-, small and medium-sized enterprises (MSMEs) in Georgia to acquire technology that helps them meet EU standards of
Category: Investment Funds
MICROCAPITAL BRIEF: CAURIE-MF Borrows $2.6m from Huruma Fund to Expand Agricultural Microfinance in Senegal
Spain’s Gawa Capital, the manager of the public-private partnership Huruma Fund, recently disbursed a loan of EUR 2.5 million (USD 2.6 million) from the fund to Coopérative Autonome pour le Renforcement des Initiatives Économiques par la Micro finance (CAURIE-MF), a microfinance institution in Senegal, with the objective of creating employment opportunities by expanding
MICROCAPITAL BRIEF: ADEL, CGF Bourse, UNCDF Announce First Disbursement from Fonds d’Investissement Territorial (FIT), Harnessing Diaspora to Invest in SMEs in Senegal
Two Senegalese investment firms, Alliance Diaspora Economies Locales (ADEL) and CGF Bourse, have partnered with the UN Capital Development Fund (UNCDF) to create an investment fund intended to generate both profits and social returns. The fund, Fonds d’Investissement Territorial (FIT), is enlisting
MICROCAPITAL BRIEF: Aman for Microfinance Targets Unbanked in Egypt via Youm-B-Youm Savings Fund, Target Return Is 8%
Aman for Microfinance, a member of the Egypt-based Aman Group, in partnership with the asset management unit of Egypt’s Prime Holding, recently announced an investment fund called Aman Youm-B-Youm, whose name can be translated as Aman Day-by-Day. Aman for Microfinance anticipates the fund will generate returns of
MICROCAPITAL BRIEF: C-Quadrat Impact Asset Management (I-AM) Loans $35m in 8 Countries via Dual Return Vision Microfinance Funds
Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, recently announced it has disbursed a total of USD 35 million to microfinance institutions in Armenia, El Salvador, Panama, Uzbekistan and four other countries. While I-AM has not released the names of the latter countries or any of the borrowers, it did announce a recent local-currency loan to
MICROCAPITAL BRIEF: BlueOrchard, Luxembourg Ministry of Finance, Schroders Partner on Public-private Environmental Sustainability, Biodiversity Fund
The Luxembourg Ministry of Finance, the UK-based Schroders Group and its Switzerland-based unit BlueOrchard Finance recently agreed to initiate a fund to raise public and private capital to promote “climate mitigation, climate adaptation, and the protection of water and biodiversity.” Finance Minister Yuriko Backes stated that the plan “supports sustainable investments and contributes to resilient economies in emerging markets.” BlueOrchard will serve as
MICROCAPITAL BRIEF: SIDI, Alterfin Announce First Close of FEFISOL II Fund at $23m to Support Rural Microfinance, Smallholder Farmers in Africa
France-based investment firm Solidarité Internationale pour le Développement et l’Investissement (SIDI) and Belgium-based cooperative Alterfin recently announced a new investment vehicle, Fonds Européen de Financement Solidaire (FEFISOL) II, whose first close includes investments totaling EUR 22 million (USD 23 million). The goal of the new fund is to
MICROCAPITAL BRIEF: MicroVest Loans $9m to Acleda Bank via IFC Syndication to Support SMEs in Cambodia, with Focus on Women Entrepreneurs
US-based asset manager MicroVest is lending USD 9 million for five years to Acleda Bank, a publicly traded firm that operates in three countries, to support Acleda’s provision of financial services to small and medium-sized enterprises (SMEs) in Cambodia, particularly those owned by women. The investment is part of a syndication for Acleda by the World Bank Group’s International Finance Corporation (IFC) that is to include up to USD 100 million each from IFC and
MICROCAPITAL BRIEF: Kuunda Raises $2m in Equity to Expand Short-term Financing Model for Mobile Money Agents, Retailers, Consumers into 7 Countries in Africa
Kuunda, a Mauritius-domiciled financial technology (fintech) company, has completed its seed funding round with USD 2.25 million in new investment, led by Accion Venture Lab, a unit of US-based nonprofit Accion. The other investors include FINCA Ventures, Future Africa, Greenhouse Capital, Kepple Africa Ventures, Launch Africa, Magic Fund, Mercy Corps Ventures and Seedstars. The funding is slated to boost Kuunda’s existing operations – which span Tanzania and Pakistan – and allow it to expand into Democratic Republic of Congo, Egypt, Malawi, Mozambique, Nigeria, Uganda and Zambia during the remainder of 2022 and 2023. The firm’s offerings are:
MICROCAPITAL BRIEF: BlueOrchard Launches 2nd Private Equity Fund, Seeking to Invest $300m in Financial Inclusion of 30m Poor Households, MSMEs
BlueOrchard Finance, a Switzerland-based member of the UK-based Schroders Group, recently launched its BlueOrchard Financial Inclusion Fund, seeking to invest
MICROCAPITAL BRIEF: Sanad Fund for MSME Sells 30% Equity Stake in GlobalCorp of Egypt, as Amethis, EBRD, SPE Capital Acquire Controlling Stake
A group of three entities recently acquired majority control of GlobalCorp for Financial Services, an Egyptian provider of leasing and factoring services to small and large enterprises. The buyers are
MICROCAPITAL BRIEF: Incofin Sells 20% Equity Stake in ACEP Burkina to SIDI
Belgium’s Incofin Investment Management (Incofin IM) recently sold the 20-percent equity stake in Agence de Crédit pour l’Entreprise Privée (ACEP) Burkina, a microfinance institution in Burkina Faso, that it had held through its Incofin CVSO fund. The buyer is Solidarité Internationale pour le Développement et l’Investissement (SIDI), a French social business that is
MICROCAPITAL BRIEF: JSIL Initiates JS Microfinance Sector Fund to Lend to MFIs in Pakistan
Pakistan-based JS Investments Limited (JSIL) recently launched the JS Microfinance Sector Fund (JSMFSF) with the goal of providing “the opportunity to tap into the growth potential of Pakistan’s microfinance sector” resulting in “a reasonable rate of return while maintaining high liquidity.” The fund carries a minimum investment of
MICROCAPITAL BRIEF: Public Sector Commits $61m to SMEs via Bamboo-UNCDF Initiative for the Least Developed (BUILD) Fund
The UN Capital Development Fund (UNCDF) recently announced that it and the Luxembourg-based fund manager Bamboo Capital Partners have raised the equivalent of USD 55 million for the Bamboo-UNCDF Initiative for the Least Developed (BUILD), a fund investing equity and debt in small and medium-sized enterprises (SMEs) in low- and middle-income countries. The partners also have raised USD 6.5 million for the BUILD Enterprise Resource Technical Assistance (BUILDER TA) facility to
MICROCAPITAL BRIEF: ABC Fund Lends $3m to Finamiga to Fund 5k Vehicle, Agricultural Loans for Women in Colombia
The Luxembourg-based Agri-Business Capital (ABC) Fund recently announced it has lent USD 3 million to Finamiga, a Colombia-based lender to rural, small-scale farmers and independent workers, most of whom are women. Finamiga plans to use the wholesale loan to fund
MICROCAPITAL BRIEF: Palestinian Monetary Authority, European Investment Bank (EIB) Announce $63m Package for MSMEs in Gaza Adjusting to COVID-19 Pandemic, with Focus on Companies Run by Women, Youth
The EU’s European Investment Bank (EIB) recently announced it will disburse EUR 60 million (USD 63 million) to the Palestinian Monetary Authority (PMA), with USD 50 million of the total to be on-lent by retail lenders in Gaza to micro-, small and medium-sized enterprises (MSMEs). The remainder of the funding will
MICROCAPITAL BRIEF: Impact Asset Management Disburses $15m from Dual Return Funds to Microfinance Institutions in 7 Countries
Impact Asset Management (I-AM), a member of the Austria-based C-Quadrat Investment Group, recently disbursed loans totaling USD 15 million from the Dual Return Funds to microfinance institutions (MFIs) in Ecuador, India, Indonesia, Pakistan and three other countries. Neither the names of the MFIs nor
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