The US-based, for-profit microfinance network FINCA Impact Finance recently announced that Jeff Flowers will become its CEO in January 2024. Mr Flowers previously worked with
Search Results for: finca
MICROCAPITAL BRIEF: FINCA Ventures Places Equity in Agtech CassVita, Seeking to Boost Incomes from Farming Cassava in Cameroon
FINCA Ventures, an affiliate of the US-based NGO FINCA International, recently invested an undisclosed sum to take a minority stake in CassVita, an agricultural technology (agtech) firm aiding Cameroonian farmers in cultivating cassava as a climate-resilient alternative to other crops. CassVita finances farmers’ inputs, purchases their crops and processes the cassava into flour. This approach curbs spoilage,
MICROCAPITAL BRIEF: FINCA Microfinance Jordan, JOHUD Partner to Fund Community Businesses
Two NGOs active in Jordan, the Jordanian Hashemite Fund for Human Development (JOHUD) and FINCA Microfinance Jordan, a unit of US-based FINCA Impact Finance, recently agreed to partner on their mutual goal of
MICROCAPITAL BRIEF: Kiva Refugee Investment Fund Lending $1.5m to FINCA Guatemala to Support Returning Migrants
FINCA Guatemala, whose name derives from that of the US-based Foundation for International Community Assistance (FINCA International), recently agreed to borrow USD 1.5 million over two years from the Kiva Refugee Investment Fund, which is managed by Kiva Capital, a unit of the US-based NGO Kiva. The goal is to expand lending to “Guatemalan migrants returning
MICROCAPITAL BRIEF: FINCA Microfinance Bank, Millat Tractors Partner to Serve Farmers in Pakistan
Pakistan-based FINCA Microfinance Bank, a for-profit entity whose name derives from the US-based Foundation for International Community Assistance (FINCA International), recently announced a partnership with Pakistan-based Millat Tractors to increase the availability of machinery to farmers in the country. Under the new arrangement, customers of FINCA Pakistan are able to
SPECIAL REPORT: AFI SDG Rating Analyst Pratibha Singh, FINCA Tajikistan CEO Sergey Kim Discuss the AFISAR Rating, Microfinance, Impact and Much More!
This is part of a series of features sponsored by Agents for Impact (AFI), a German impact investing firm whose products include the AFI Sustainability Alignment Rating (AFISAR©) Tool. The AFISAR© rating is a trust mark – in microfinance and other forms of social business – signifying a commitment to positive and enduring change for people and the planet based on the UN Sustainable Development Goal (SDG) framework.
AFISAR© helps MFIs leverage the market’s growing focus on sustainability performance to raise capital from international investors and, particularly, impact investors. The rating helps investors and social businesses understand their strengths and weaknesses and devise effective strategies to minimize negative impact and maximize positive impact to the benefit of the organization – its employees, clients and other stakeholders – as well as the environment.
The active dialogue and engagement embedded in the AFISAR© rating process enables the MFI as well as asset managers to embark on a journey that leads to long-term sustainable development. A rating above the sustainability threshold on the scale (see below) is favorable for the disbursement funds. To date, AFI has used the AFISAR© Tool to rate 30+ microfinance and SME finance institutions in the Caucasus, Central and South Asia, East Africa and Eastern Europe, helping the institutions demonstrate their SDG competency and alignment.
Pratibha Singh (pictured): How did you become interested in microfinance?
Sergey Kim: My professional career started in 1998 in the field of microfinance. I was working as a loan officer for a UN microcredit project, which made it possible for me to have a close look at the ground-level realities concerning credit operations. After finishing my graduate degree, I chose FINCA because the job was close to people.
I have worked with FINCA since 2006 and have been in Tajikistan for the last 12 years. FINCA Tajikistan has been active since 2004 and is now amongst the top
MICROCAPITAL BRIEF: Agents for Impact Disburses $1.5m from IIV to FINCA Bank Kyrgyzstan for Microfinance
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has issued USD 1.5 million to FINCA Bank Kyrgyzstan, a unit of US-based FINCA Impact Finance, on behalf of Germany-based Invest in Visions (IIV). FINCA Kyrgyzstan serves 155,000 customers – half women – with
MICROCAPITAL BRIEF: Microinvest of Moldova, FINCA Armenia Borrowing $10m from Invest in Visions for Microfinance
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it is issuing the following loans on behalf of Germany’s Invest in Visions (IIV): EUR 7 million (USD 8 million) in two tranches to Microinvest of Moldova and USD 2.5 million to FINCA Armenia, a unit of US-based FINCA Impact Finance. AFI has disbursed the entire loan to
MICROCAPITAL BRIEF: SEBI Approves $180m IPO by Microfinance Institution Fincare SFB of India
The Securities and Exchange Board of India (SEBI) recently approved plans by Fincare Small Finance Bank (SFB), an Indian microfinance provider, to proceed with an initial public offering (IPO) of up to INR 13.3 billion (USD 180 million), of which
MICROCAPITAL BRIEF: FINCA DRC, Flash International Partner to Expand Mobile Access to Financial Services in Congo
FINCA Democratic Republic of Congo (DRC), a subsidiary of US-based FINCA Impact Finance, recently announced a partnership with Flash International, a DRC-based financial technology (fintech) company. FINCA customers will gain access to Flash App, Flash International’s mobile financial services platform, while Flash customers will
MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Loans $2m to FINCA Tajikistan for Microfinance
German investment research firm Agents for Impact recently advised Germany-based Invest in Visions (IIV) on its disbursement of a loan in the amount of USD 2 million to FINCA Tajikistan, a microfinance institution (MFI) affiliated with the US-based for-profit
MICROCAPITAL BRIEF: True North Sells $25m Stake in Fincare SFB, Provider of Microfinance in India, to Motilal Oswal Private Equity
Two India-based private equity firms recently exchanged a minority stake in India’s Fincare Small Finance Bank (SFB). Motilal Oswal Private Equity (MOPE) bought the shares through its India Business Excellence Fund-III for USD 25 million from True North. Although the size of the stake has not been disclosed, True North previously held 7.25 percent of the shares of Fincare SFB and
MICROCAPITAL BRIEF: FINCA Expands Microfinance Fintech in Uganda, Azerbaijan, Kyrgyzstan
FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia.
FINCA Uganda launched a “Digital is Here” campaign in partnership with Centenary Bank, a commercial institution serving 1.8 million customers
MICROCAPITAL BRIEF: Switzerland Capacity Building Facility (SCBF) to Support Hapa Cash of Kuunda, Expanding Liquidity for FINCA, M-Pesa Agents in Tanzania
The government-funded Switzerland Capacity Building Facility (SCBF) recently agreed to disburse an unspecified amount of grant funds to Kuunda Digital, a financial services provider based in Mauritius, to help expand its Hapa Cash product, which supplies
MICROCAPITAL BRIEF: Banque Nationale de Crédit Lending $890k to Microfinance Institution FINCA Haiti to Support Microentrepreneurs, Small Businesses
FINCA Haiti, a microfinance institution owned by US-based FINCA Impact Finance, recently opened a credit line of HTG 100 million (USD 892,000) from Banque Nationale de Crédit, a bank in Haiti. According to FINCA Impact Finance, “This is the first locally-sourced credit line
MICROCAPITAL BRIEF: BIO Investing $1.5m in FINCA Malawi for Microfinance, SME Lending
The Belgian Investment Company for Developing Countries, a government-backed institution also known as BIO, recently began disbursing funds as part of a four-year loan of USD 1.5 million to FINCA Malawi, a microfinance institution (MFI) owned by the US-based firm FINCA Impact Finance. The microbank will use the funds for on-lending via its 23 branches and
MICROFINANCE EVENT: The Economic Impact of COVID-19: Results of a Global Survey of Microfinance Customers; July 16, 2020; Webinar Hosted by FINCA
This online event will showcase the results of a survey of 5,000 microborrowers in Africa, Eurasia and Latin America regarding the “economic impacts of COVID-19” on their livelihoods. Two representatives of FINCA International will open the webinar, Scott Graham, the Director of Customer Research, and Anahit Tevosyan, the
MICROCAPITAL BRIEF: Calvert Impact Capital Opens $15m Credit Line for FINCA, Owner of 20 Microfinance Institutions (MFIs)
Calvert Impact Capital, a US-based NGO, recently opened a five-year credit line of USD 15 million for FINCA Impact Finance to use in support of its 20 microfinance institutions in Africa, the Americas and Eurasia. The funding is available for on-lending to micro- and small enterprises (MSEs) as well as for