Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that its funds have added three Latin American microfinance institutions (MFIs) to their portfolios; Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras; Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) of Ecuador; and Institución Financiera de Desarrollo (IFD) Sembrar Sartawi of Bolivia. The sizes of the investments were not disclosed.
COMIXMUL is a Honduran cooperative that provides microfinance services and business development programs in Honduras. As of December 31, 2009, COMIXMUL reported total assets of HNL 357 million (USD 19 million). COMIXMUL does not report financial information to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider.
CACMU is an Ecuadorian MFI that is registered as a Savings and Credit Cooperative Society (SACCO). As of September 30, 2010, CACMU reports to MIX total assets of USD 3.6 million, a gross loan portfolio of USD 2.87 million and 1,900 active borrowers.
IFD Sembrar Sartawi is a Bolivian MFI that was established in 1989. As of March 31, 2011, Sartawi reported to MIX total assets of USD 12.5 million, a gross loan portfolio of USD 9.55 million, return on assets (ROA) of -8.15 percent, return on equity (ROE) of -44.6 percent and 7,200 active borrowers.
According to information submitted by Triodos, its microfinance portfolio is valued at EUR 250 million (USD 360 million) and has investments in approximately 90 MFIs in 43 countries. Triodos manages the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and the Triodos Microfinance Fund.
By Rohan Trivedi, Research Associate
About Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL):
Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) was established in 1968 in Honduras. It is a cooperative that provides microfinance services and business development programs to its members. COMIXMUL works primarily with underserved women. As of December 31, 2009, COMIXMUL reported total assets of HNL 357 million (USD 19 million). COMIXMUL does not report financial information to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider.
About Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU):
Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) is an Ecuadorian microfinance institution (MFI) that is registered as a Savings and Credit Cooperative Society (SACCO). CACMU was established in 2001 and provides a range of services including loans, savings, insurance and business training. As of September 30, 2010, CACMU reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, USD 3.6 million in assets, a gross loan portfolio of USD 2.87 million and 1,900 active borrowers.
About IFD Sembrar Sartawi:
Institución Financiera de Desarollo (IFD) Sembrar Sartawi is a Bolivian microfinance institution (MFI) that was established in 1989. The MFI aims to contribute to the development of urban and rural micro- and small-scale enterprises by providing financial services to underserved communities. As of March 31, 2011, Sartawi reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 12.5 million, a gross loan portfolio of USD 9.55 million, return on assets (ROA) of -8.15 percent, return on equity (ROE) of -44.6 percent and 7,200 active borrowers.
About Triodos Investment Management:
Triodos Investment Management manages several funds that provide risk capital including Triodos Venture Capital Fund BV and Triodos Ventures BV. The firm invests specifically in the area of the development of financial sectors in developing countries, renewable energy finance and venture capital. Triodos also manages four microfinance investment funds: the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and Triodos Microfinance Fund. As of June 2011, Triodos’ four microfinance funds had EUR 250 million (USD 360 million) in assets under management.
Sources and Additional Resources:
[1] Information submitted by Triodos to MicroCapital, June 2011
MicroCapital.org story, June 15, 2011: “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institution (MFIs) KixiCrédito of Angola, Advans Ghana, Arnur Credit of Kazakhstan, Belarusian Bank for Small Business, Kompanion of Kyrgyzstan”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microfinance-institutions-mfis-kixicredito-of-angola-advans-ghana-arnur-credit-of-kazakhstan-belarusian-bank-for-small-business-kompanion-of-kyrgyzstan/
MicroCapital.org story, May 30, 2011: “MICROCAPITAL BRIEF: LuxFLAG Renews Label for MIVs From Absolute, BlueOrchard, EFSE, Finethic, Horus, KCD, ResponsAbility, Triodos, Walberg”, https://www.microcapital.org/microcapital-brief-luxflag-renews-label-for-mivs-from-absolute-blueorchard-efse-finethic-horus-kcd-responsability-triodos-wallberg/
MicroCapital.org story, May 24, 2011: “MICROCAPITAL BRIEF: Norwegian Microfinance Initiative (NMI) Global Fund Invests $2.8m in Triodos Microfinance Fund (TMF)”, https://www.microcapital.org/microcapital-brief-norwegian-microfinance-initiative-nmi-global-fund-invests-2-8m-in-triodos-microfinance-fund-tmf/
MicroCapital Universe Profile: Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cooperativa+Mixta+Mujeres+Unidas+Limitada+%28COMIXMUL%29
MicroCapital Universe Profile: Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cooperativa+de+Ahorro+y+Crédito+Mujeres+Unidas+%28CACMU%29
MicroCapital Universe Profile: IFD Sembrar Sartawi, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IFD+Sembrar+Sartawi
MicroCapital Universe Profile: Triodos Investment Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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