responsAbility Global Microfinance Fund, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has provided MXN 942,000 (USD 72,000) in debt financing to two Mexican microfinance institutions (MFIs).
KapitalMujer received MXN 437,000 (USD 33,000) from the responsAbility Global Microfinance Fund. Te Creemos received MXN 126,000 (USD 9,665) from responsAbility Mikrofinanz-Fonds and MXN 379,000 (USD 29,000) from responsAbility Global Microfinance Fund.
ProDesarrollo, a network of Mexican organizations that promotes economic development and poverty alleviation, reported that as of 2010 KapitalMujer has 41,760 active borrowers and a portfolio worth MXN 119 million (USD 9.2 million).
According to the MIX Market, the microfinance information clearinghouse, Te Creemos had total assets of USD 19.4 million, 28,462 active borrowers, a return on assets (ROA) of 4.02 percent and a return on equity (ROE) of 36.66 percent as of December 2009.
By Stefanie Rubin, Research Associate
About responsAbility Global Microfinance Fund:
The responsAbility Global Microfinance Fund (rAGMF) invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. As of April 2010, it has been certified by the Luxembourg Funding Labeling Agency (LuxFLAG), an independent nonprofit that certifies MIVs based on their direct or indirect investment in the microfinance sector.
About responsAbility Mikrofinanz-Fonds:
The responsAbility Mikrofinanz-Fonds invests in microfinance institutions (MFIs) through debt securities and equity investments. The fund was created in 2007 by responsAbility of Luxemburg, and is financed by Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse D’sseldorf, a German bank. As of April 2010, it has been certified by the Luxembourg Funding Labeling Agency (LuxFLAG), an independent nonprofit, which certifies MIVs based on their direct or indirect investment in the microfinance sector.
Additional Resources:
Source Article: E-mail correspondence with MicroCapital June 10, 2010.
MicroCapital Universe: responsAbility Global Microfinance:https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)
MicroCapital Universe: responsAbility Mikrofinanz-Fond:https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
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