Switzerland’s responsAbility Social Investments AG recently reported to MicroCapital that it has made investments equivalent to USD 6.9 million in Bolivian microfinance institution (MFI) Crecer and Colombian MFI Fundacion Mundo Mujer (FMM) Popayan. Crecer received USD 750,000 from the responsAbility SICAV Mikrofinanz-Fonds (rAMF) and USD 2.5 million from the responsAbility Global Microfinance Fund (rAGMF). FMM Popayan received the equivalent of USD 3.6 million in local currency, USD 500,000 from rAGMF and USD 3.1 million from rAGMF.
As of 2010 Crecer reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 63.7 million, a gross loan portfolio of USD 58.1 million and approximately 108,300 borrowers. As of the same year, FMM Popayan’s thirty branches in Colombia served 265,000 clients with an outstanding loan portfolio of USD 154 million. FMM Popayan is a member of the Women’s World Banking network, which is based in the US state of New York and connects 39 member institutions.
By Charlotte Newman, Research Associate
About Crecer
Bolivia-based CRECER, established as a credit and education program in 1985 by US-based nonprofit Freedom from Hunger, became an independent nonprofit organization in 1999. CRECER’s Credit with Education product consists of savings and credit associations that serve poor women who do not have access to formal financial services. CRECER also provides education in health, civil rights, empowerment and business development. As of 2010, CRECER reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 63.7 million, a gross loan portfolio of USD 58.1 million, approximately 108,300 borrowers, return on assets (ROA) of 5.23 percent and return on equity (ROE) of 14.8 percent.
About Fundacion Mundo Mujer
Based in Colombia, Foundacion Mundo Mujer (FMM) was established in 1985 and became a member of the Women’s World Banking network in 1990. It aims to provide microfinance services to women microentrepreneurs and low-income families. FMM’s thirty branches throughout Colombia serve 265,000 clients, and FMM reports an outstanding loan portfolio of USD 154 million.
About responsAbility Social Investments AG
Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Global Microfinance Fund (rAGMF)
The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments that invests in microfinance institutions (MFIs) and other MIVs, mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 532 million in 2011.
About Mikrofinanz-Fonds
Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in short- to medium-term income-bearing debt securities of microfinance institutions (MFIs). In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
Sources and Additional Resources:
Information provided to MicroCapital.org by responsAbility
MicroCapital.org story, March 16, 2012, “MICROCAPITAL BRIEF: responsAbility Lends $1.8m to Cambodian Microfinance Companies Angkor Mikroherandhvatho Kampuchea, Thankeakea Phum (Cambodia) Limited,” https://www.microcapital.org/microcapital-brief-responsability-lends-1-8m-to-cambodian-microfinance-companies-angkor-mikroheranhvatho-kampuchea-thaneakea-phum-cambodia-limited/
MicroCapital.org story, March 14, 2012, “MICROCAPITAL BRIEF: responsAbility Invests $2m in Jordan’s Middle East Micro Credit Company (MEMCC), Palestine for Credit and Development (FATEN),” https://www.microcapital.org/microcapital-brief-responsability-invests-2m-in-jordans-middle-east-micro-credit-company-memcc-palestine-for-credit-and-development-faten/
MicroCapital Universe Profile: Crecer
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CRECER
MicroCapital Universe Profile: Fundacion Mundo Mujer https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fundacion+Mundo+Mujer
MicroCapital Universe profile: responsAbility Social Investments https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe profile: responsAbility Global Microfinance Fund (rAGMF) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe profile: Mikrofinanz-Fonds https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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