MICROCAPITAL BRIEF: Oxus Raises $4.2m in Equity from Investors including Agency for Technical Cooperation and Development (ACTED) for Expansion in Asia, Africa

The Oxus Group, a French microfinance organization with subsidiaries in the Democratic Republic of the Congo and three Asian countries, recently raised EUR 3.3 million (USD 4.2 million) in equity through its unit Oxus Holding by selling equity shares to the Agency for Technical Cooperation and Development (ACTED), which remains its majority shareholder, and three unnamed retail investors. Neither the individual amounts invested nor the sizes of the stakes acquired by each investor have been disclosed. The investment is expected to expand Oxus’ operations in Central Asia and to develop new subsidiaries in Africa, following the opening of its operations in the Democratic Republic of the Congo in 2013.

As of September 2014, Oxus Group had a loan portfolio of USD 41 million outstanding to 44,000 borrowers. As of 2012, Oxus Afghanistan was the only one of the group’s MFI accepting deposits with USD 414,000 held for 9,000 depositors. As of 2013, ACTED had a budget of EUR 140 million (USD 180 million) with 35 percent of its operations in sub-Saharan Africa, 31 percent in Asia and 32 percent in Middle East and North Africa.

By Simon Pfanner – Research Associate

About Oxus Group

Oxus Group is a French microfinance organization created in 2005 by the French Non-governmental organization (NGO) Agency for Technical Cooperation and Development (ACTED). It provides financial services to poor households. The Oxus Group consists of the Oxus Development Network, a consulting company that specializes in microfinance; Oxus Holding, the investment instrument the group created in 2007; and the following: Oxus Afghanistan, Oxus DR Congo, Oxus Kyrgyzstan and Oxus Tajikistan. As of September 2014, Oxus Group had a loan portfolio of USD 41 million outstanding to 44,000 borrowers. As of 2012, Oxus Afghanistan was the only one of the group’s MFI accepting deposits with USD 414,000 held for 9,000 depositors.

About Agency for Technical Cooperation and Development (ACTED)

ACTED is a French non-governmental organization (NGO) created in 1993. It is a humanitarian organisation focusing on emergency situations, such as wars and natural disasters, and on the subsequent rehabilitation and development over the medium-term. Since 1993, ACTED has had missions in Africa, the Americas, Asia, Europe and the Middle East. As of 2013, ACTED had a budget of EUR 140 million (USD 180 million) with 35 percent of its operations in Africa, 31 percent in Asia and 32 percent in Middle East and North Africa. It is also the majority shareholder in the Oxus Group, which operates microfinance institutions in the Democratic Republic of the Congo and three Asian countries.

Sources and Additional Resources

[1] Information provided to MicroCapital by OXUS, October 2014

MicroCapital, April 17, 2008, India’s ACCESS Development Services and French NGO ACTED to Build Capacity of South Asian Microfinance Institutions with Funding from the European Commission

MicroCapital Universe Profile: OXUS Group

MicroCapital Universe Profile: Agency for Technical Cooperation and Development (ACTED)

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