MICROCAPITAL BRIEF: Oxus Democratic Republic of Congo Opens New Branch, Increases Total Capital to $2.7m

Oxus Democratic Republic of Congo (DRC), a microfinance institution (MFI) that opened in the Democratic Republic of Congo in May 2012, recently raised an unspecified amount of funds to bring its total capital to USD 2.7 million. With the new funds, Oxus DRC is opening a new branch in the country’s capital city of Kinshasa and plans to open an additional three branches by 2015.

The shareholders include Oxus Holding, the financing arm of Oxus Group; Investisseurs & Partenaires (I&P), a France-based family of investment funds that supports socially responsible entrepreneurs in Sub-Saharan Africa; and the Investment and Support Fund for Businesses in Africa (FISEA in French), a France-based investment fund that invests in banks, microfinance institutions and investment funds in Sub-Saharan Africa. The three shareholders own 60 percent, 20 percent and 20 percent respectively.

As of November 2013, Oxus DRC serves 1,200 clients with a total loan portfolio of USD 560,000. As of December 2012, Oxus Holding held total assets of USD 34.9 million.

By Megan McGowan, Research Associate

About Oxus Democratic Republic of Congo:

Oxus Democratic Republic of Congo (DRC) is a microfinance institution in the Democratic Republic of Congo that was established in May 2012 as part of the Oxus Group, which is comprised of Oxus Holding, a France-based investment instrument; Oxus Development Network, a consulting company that specializes in microfinance; and four microfinance institutions. It provides loans between USD 50 and USD 6500 to micro-enterprises and low-income households. As of November 2013, Oxus DRC serves 1,200 clients with a total loan portfolio of USD 560,000.

About Oxus Holding:

Oxus Holding is the France-based investment instrument of Oxus Group, which consists of Oxus Holding; Oxus Development Network, a consulting company that specializes in microfinance, and four microfinance institutions (MFIs): Oxus Afghanistan, Oxus DRC, Oxus Kyrgyzstan and Oxus Tajikistan. Oxus Holding makes investments in microfinance institutions (MFIs) and as of December 2012, held total assets of USD 34.9 million.

About Investisseurs & Partenaires (I&P):

Investisseurs & Partenaires (I&P) was established in France in 2002 as a family of investment funds that supports socially responsible entrepreneurs in Sub-Saharan Africa. I&P is a family of investment funds made up of two financial vehicles, I&P Developpement (IPDEV), a financial company, and I&P Afrique Entrepreneurs (IPAE), an investment fund with total capital of EUR 54 million (USD 73.2 million).

About FISEA:

The Investment and Support Fund for Businesses in Africa (FISEA in French) is an investment fund set up in France in 2009 that invests in banks, microfinance institutions and investment funds in Sub-Saharan Africa. It is held by Agence Française de Développement (AFD), and managed by PROPARCO, both development financial institutions in France. FISEA targets economically unstable regions and focuses on sectors such as agriculture, microfinance and health care.

Sources and Additional Resources:

[1] Press Release from Oxus sent directly to MicroCapital.

MicroCapital.org, “Grameen Crédit Agricole Microfinance Foundation (GCAMF) to Loan $599k to Oxus Tajikistan,” March 5, 2013, https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-to-loan-599k-to-oxus-tajikistan/

MicroCapital.org, “Incofin Funds Take Stakes in EDPYME Solidaridad of Peru, FIDES Bank of Namibia, ACEP-Burkina of Burkina Faso,” September 15, 2012, https://www.microcapital.org/microcapital-brief-incofin-funds-take-stakes-in-edpyme-solidaridad-of-peru-fides-bank-of-namibia-acep-burkina-of-burkina-faso/

MicroCapital Universe Profile: Oxus Democratic Republic of Congo, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oxus+Democratic+Republic+of+Congo

MicroCapital Universe Profile: Oxus Holding, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oxus+Holding

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