The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with KixiCrédito, an Angolan microcredit company, to strengthen KixiCrédito’s “delivery of digital financial services to individuals and micro-, small and medium-sized enterprises (MSMEs) across the country.” The plan includes
Category: Deals
MICROCAPITAL BRIEF: InsuResilience Investment Fund Acquires 40% Equity Stake in Ghana-based Insurance Company Vanguard
Switzerland’s BlueOrchard Impact Investment Advisors recently disbursed an undisclosed sum from the InsuResilience Invest Fund (IIF), a Luxembourg-domiciled public-private partnership, for IIF to buy 40 percent of the shares of Vanguard Assurance, an insurer in Ghana that provides microinsurance as well as traditional coverage. The deal, under which IIF controls multiple seats on Vanguard’s Board of Directors, is intended to grow
MICROCAPITAL BRIEF: PPro Acquires Alpha Fintech to Boost Payment Infrastructure for Financial Services Providers
PPro, a digital payments infrastructure firm based in the UK, recently announced its acquisition of Alpha Fintech, an Ireland-based financial technology (fintech) firm. PPro helps financial services providers accept payments through third-party platforms such as China-based Alipay and US-based PayPal. Among the goals of the deal is
MICROCAPITAL BRIEF: Juhudi Kilimo, Rural MFI in Kenya, Sells 39% Equity Stake to Nordic Microfinance Initiative for $3.1m
Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently paid USD 3.1 million to acquire a 39.4 percent stake in Juhudi Kilimo, a Kenyan microlender offering
MICROCAPITAL BRIEF: ACEP Cameroon Borrows $2.2m in Local Currency from Grameen Credit Agricole Foundation to Support Micro-, Small Enterprises
The microfinance institution Agence de Crédit pour l’Entreprise Privée (ACEP) Cameroon has borrowed local currency approximately equivalent to USD 2.2 million from the Luxembourg-based Grameen Credit Agricole (GCA) Foundation. Created in 1999, ACEP Cameroon focuses on the development of micro- and small enterprises (MSEs) via deposit, loan, transfer, insurance and mobile banking services. Its loan offerings include products for farming, enterprise and other purposes. The institution’s microinsurance services range from health and life cover to vehicle insurance. ACEP Cameroon
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $2.2m in Local Currency to ACEP Burkina for On-lending to Micro-, Small, Medium-sized Enterprises (MSMEs)
The Luxembourg-based Grameen Credit Agricole (GCA) Foundation has announced it lent local currency approximately equivalent to USD 2.2 million to the microfinance institution Agence de Credit pour l’Entreprise Privee (ACEP) Burkina. One of four members of the ACEP Group, ACEP Burkina provides financial services to micro-, small and medium-sized enterprises (MSMEs) in urban regions of Burkina Faso. The institution was created in 2009 and
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends Local-currency Equivalent of $445k to Microfinance Institution VisionFund Uganda
VisionFund Uganda has borrowed EUR 400,000 (USD 445,000) from the Grameen Crédit Agricole (GCA) Foundation, an NGO headquartered in Luxembourg that seeks to reduce poverty by providing funding and technical assistance to microfinance institutions and other social businesses. Established in 2012, VisionFund Uganda is a microlending unit of VisionFund International, which, in turn, is owned by
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $1.1m in Local Currency to Asian Credit Fund for Housing, Enterprise Microfinance in Rural Kazakhstan
The Luxembourg-based Grameen Credit Agricole (GCA) Foundation has announced it lent local currency approximately equivalent to USD 1.1 million to the microfinance institution Asian Credit Fund (ACF) of Kazakhstan for a term of three years. Founded in 1997 by the US-based NGO Mercy Corps, ACF provides financial and non-financial services supporting rural development, small business, and home ownership. These services include
MICROCAPITAL BRIEF: Planet42 of South Africa Raises $3.4m in Equity from Naspers, Expanding into Mexico
Planet42, a financier of vehicles that is based in South Africa, recently acquired USD 3.4 million in equity funding from Naspers Foundry, a unit of the global technology investor Naspers, which is also based in South Africa. Meanwhile, Planet42 is establishing its operations in
MICROCAPITAL BRIEF: Microserfin to Boost Farm Microinsurance, Microloans in Panama with $2.3m in Debt Finance from Huruma Fund
Microserfin, a lender to homeowners as well as micro-, small and medium-sized enterprises (MSMEs) in Panama, recently borrowed EUR 2 million (USD 2.3 million) from Huruma Fund, a Spain-based public-private partnership supporting rural finance in low- and moderate-income countries. Microserfin, which is controlled by the Spain-based Fundación BBVA Microfinanzas, serves 14,000 clients with financial products; financial education; and access to a 24-hour hotline for assistance with health, legal, agricultural and veterinary emergencies. The microlender’s upcoming plans include
MICROCAPITAL BRIEF: CFE to Launch Agricultural Loans in Panama with Technical Assistance, $3.4m in Debt Finance from Huruma
Centro Financiero Empresarial (CFE), a lender to homeowners, microenterprises and small businesses in Panama, recently borrowed EUR 3 million (USD 3.4 million) from Huruma Fund, a Spain-based public-private partnership supporting rural finance in low- and moderate-income countries. While 61 percent of CFE’s customers live in rural areas, it serves farmers with conventional
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Invests Local-currency Equivalent of $650k in Moldova’s Smart Credit
The Grameen Crédit Agricole (GCA) Foundation, a funder based in Luxembourg that promotes “financial inclusion and social impact entrepreneurship,” has granted local currency approximately equivalent to USD 650,000 to Smart Credit, a Moldovan microfinance institution. Founded in 2010, Smart Credit offers insurance products covering
MICROCAPITAL BRIEF: Lazika Capital of Georgia Borrows $1.6m in Local Currency from Grameen Crédit Agricole Foundation for Agricultural Lending, Microfinance
Lazika Capital, headquartered in western Georgia, has acquired loans totaling the approximate local-currency equivalent of USD 1.6 million from the Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg. Established in 2000 by the British member of the NGO Stichting Oxfam International, Lazika is a
MICROCAPITAL BRIEF: Furuz Microcredit of Tajikistan Borrows $560k in Local Currency from Grameen Credit Agricole Foundation
Furuz Microcredit Organization, which is headquartered in the city of Bokhtar, Tajikistan, has borrowed the equivalent of USD 560,000 in its first transaction with the Grameen Credit Agricole (GCA) Foundation, which is headquartered in Luxembourg. Established in 1999 as a program of the US-based NGO Millennium Relief and Development Services, Furuz offers loans for
MICROCAPITAL BRIEF: M&G Acquiring Majority Stake in Impact Investment Firm responsAbility
M&G, a UK-based holding company seeking “to help our customers invest for a more sustainable future for the planet and society,” recently moved to acquire 90 percent of responsAbility Investments of Switzerland. ResponsAbility invests in low- and middle-income countries with the aim of increasing financial inclusion, supporting agriculture deemed sustainable and reducing the effects of climate change. The transaction is subject to regulatory approval, and M&G is expected to acquire
MICROCAPITAL BRIEF: Microinvest of Moldova Borrows $3.4m from IIV for Microfinance, SME Lending
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has lent the second of two tranches to Microinvest, a lender to households as well as small and medium-sized enterprises (SMEs) in Moldova, on behalf of Germany-based Invest in Visions (IIV). The disbursement of EUR 3 million (USD 3.4 million) completes an agreement between the parties valued at
MICROCAPITAL BRIEF: EDPYME Alternativa of Peru Borrows $5m from Huruma Fund to Provide Farmers with Asset Finance
Huruma Fund, a Spain-based vehicle supporting rural financial services providers in low- and moderate-income countries, recently lent EUR 4 million (USD 5 million) to Entidad de Desarrollo a la Pequeña y Micro Empresa (EDPYME) Alternativa, a microfinance institution (MFI) in Peru that serves rural populations. The goal of the investment is to assist small-scale farmers through increased outreach and new products focused on farmers’ needs.
Alternativa was founded in 1992 and plans to use the new funds to issue 8,600 loans to farmers, some for fixed assets, with repayment terms as long as
MICROCAPITAL BRIEF: Alliance Finance Raises $15m in Debt from FMO, Enabling Microfinance Fund (EMF) to Support Lending to MSMEs in Sri Lanka
Alliance Finance, which is based in Sri Lanka, recently received a loan package of USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, and the Liechtenstein-domiciled Enabling Microfinance Fund (EMF). FMO financed two thirds of the package, and EMF provided the remaining USD 5 million. The funding is earmarked for