In July 2010, BlueOrchard Finance, a Swiss commercial microfinance intermediary which manages 6 microfinance investment vehicles (MIV), invested USD 8 million in Equity Bank, a microfinance bank based in Nairobi, Kenya, that was founded in 1984.
The sum was loaned from the Dexia Microcredit Fund (DMCF), an MIV managed by BlueOrchard Finance. As reported to the Microfinance Information Exchange (MIX) in 2009, Equity Bank has USD 1.27 billion in total assets, a gross loan portfolio of USD 818 million and 716,000 active borrowers.
About BlueOrchard:
BlueOrchard is a Swiss commercial microfinance intermediary that provides loans to microfinance institutions through its subsidiary BlueOrchard Finance and invests in the equity of microfinance institutions and microfinance funds through its subsidiary BlueOrchard Investments. It had approximately USD 980 million under management as of June 2009.
About Dexia Micro-Credit Fund (DMCF):
The Dexia Micro-Credit Fund (DMCF) invests in debt instruments issued by microfinance institutions (MFIs), which are retail micro-lenders. DMCF is managed by BlueOrchard Finance SA. It is also certified by LuxFLAG, an independent organization that certifies that microfinance vehicles actually invest in the microfinance sector. As of 2009, DMCF has USD 531 million in assets.
About Equity Bank:
Equity Bank, founded in 1984, is a microfinance bank based in Nairobi, Kenya. It provides loans, savings and fund transfer services, and it is funded through savings deposits and shareholder capital. It is involved in microfinance operations not only in Kenya, but also in Southern Sudan and Uganda through its subsidiary Equity Bank Uganda. As reported to the Microfinance Information Exchange (MIX) in 2009, Equity Bank has USD 1.27 billion in total assets, a gross loan portfolio of USD 818 million and 716,000 active borrowers.
By Trevor Kwong, Research Assistant
Sources and additional information:
E-mail correspondence with MicroCapital
Microcapital Universe: BlueOrchard:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BlueOrchard
Microcapital Universe: DMCF:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Dexia+Microcredit+Fund+(DMCF)
Microcapital Universe: Equity Bank:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Equity+Bank
Browse the MicroCapital Universe and add your entry to the wiki at:https://www.microcapital.org/microfinanceuniverse/
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