MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) to Loan $1.1m to FINCA Malawi, $580k to Réseau de Micro-institutions de Croissance de Revenus of Mali

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based foundation providing financial services to microfinance institutions (MFIs) and other social businesses, recently informed to MicroCapital that it disbursed a three-year loan in local currency equivalent in value to EUR 882,000 (USD 1.1 million) to Foundation for International Community Assistance (FINCA) Malawi, a microfinance institution (MFI) member of the US-based, nonprofit FINCA International microfinance network. GCAMF also provided a three-year loan in local currency equivalent in value to EUR 457,000 (USD 577,900) to Réseau de Micro-institutions de Croissance de Revenus (RMCR), a Malian MFI.

As of 2012, FINCA Malawi reported a gross loan portfolio of USD 3.8 million and total deposits of USD 645,000. FINCA International has total assets of USD 814 million as of December 2012 and has approximately 1 million clients served through subsidiaries in 22 countries as of June 2012. As of 2012, RMCR has total assets of USD 5.7 million, an outstanding loan portfolio of USD 3.9 million, approximately 23,000 active borrowers, total deposits of USD 1.4 million and approximately 45,000 depositors, -3.98 percent of return on assets of and -6.06 percent of return of equity according to the US-based nonprofit Microfinance Information Exchange (MIX). As of December 2012, GCAMF reported total assets of EUR 51.1 million (USD 70.3 million).

By Tejas Jain, Research Associate

About Grameen Crédit Agricole Microfinance Foundation

Grameen Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and social business projects. GCAMF was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. In financing microfinance institutions (MFIs), GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. As of December 2012, the foundation reported total assets of EUR 51.1 million (USD 70.3 million). Since its inception in 2008 through 2013, the foundation has invested in 31 microfinance institutions (MFIs), 10 social-business projects and one fund in 21 countries. During 2013, the foundation was active in Azerbaijan, Bangladesh, Benin, Burkina Faso, Cambodia, Cameroon, Democratic Republic of Congo, France, Indonesia, Kenya, Kosovo, Madagascar, Mali, Palestine, Philippines, Senegal, Sri Lanka, Tajikistan, Timor Leste, Togo and Zambia.

About Réseau de Micro-institutions de Croissance de Revenus (RMCR)

Réseau de Micro-institutions de Croissance de Revenus (RMCR) is a Malian MFI that was established in 2005. It provides loans, deposit services and training to poor people in an effort to increase commercial activities and boost job creation. As of 2012, RMCR has total assets of USD 5.7 million, an outstanding loan portfolio of USD 3.9 million, approximately 23,000 active borrowers, total deposits of USD 1.4 million and approximately 45,000 depositors, -3.98 percent of return on assets and -6.06 percent return on equity according to the US-based nonprofit Microfinance Information Exchange (MIX).

About FINCA Malawi

Established in 1994, Foundation for International Community Assistance (FINCA) Malawi is an arm of FINCA International, a US-based nonprofit microfinance organization that serves approximately 700,000 people through its subsidiaries in 22 countries. As of 2012, FINCA Malawi reported a gross loan portfolio of USD 3.8 million and total deposits of USD 645,000 and approximately 30,000 active borrowers.

Sources and Additional Resources:

Credit Agricole Microfinance Foundation (GCAMF), information submitted to MicroCapital

MicroCapital, July 14, 2014, “Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance,”
www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-invests-500k-in-equity-to-acquire-8-of-kenyan-microinsurer-agriculture-and-risk-enterprise-acre-loans-334k-to-ecumenica/

MicroCapital, June 17, 2014, “Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development,”
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-loans-2m-to-cambodian-angkor-mikroheranhvatho-kampuchea-invests-546k-in-equity-in-palestinian-arab-center-for-agricultura/

MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation

MicroCapital Universe Profile: Réseau de Micro-institutions de Croissance de Revenus (RMCR),
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=R%C3%A9seau+de+Micro-institutions+de+Croissance+de+Revenus+%28RMCR%29

MicroCapital Universe Profile: FINCA Malawi
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+Malawi

MicroCapital Universe Profile: FINCA International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+International

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