Deutsche Investitions – und Entwicklungsgesellschaft (DEG), a subsidiary of German development bank Kreditanstalt für Wiederaufbau (KfW); agRIF, a fund of Belgium’s Incofin Investment Management; and Japan-based asset manager Daiwa Partners recently signed an agreement to make an equity investment totaling USD 9 million in Rent2Own, a moped leasing company in Myanmar. Since its launch in 2016, Rent2Own has granted leases to approximately 70,000 people, including 14,000 women. At the end of each 3-month leasing period, drivers may purchase the moped they have been driving.
Established in 1973, DEG has a portfolio of EUR 8.3 billion (USD 9.8 billion) as of December 2017.
Incofin is a for-profit firm with a portfolio of 350 companies in 51 countries providing “opportunities for vulnerable or less privileged people to improve their lives.” This portfolio, valued at USD 1 billion as of 2018, comprises the following funds: agRIF, BRS Microfinance Coop Fund, Fairtrade Access Fund, Fonds pour l’inclusion financière en République Démocratique Congo (FPM), Incofin CVSO, Invest in Visions, Rural Impulse Fund (RIF) II, Volksvermogen and a loan portfolio of vdk Bank.
A subsidiary of Japan’s Daiwa Securities Group, Daiwa Partners focuses on private equity and investments in non-performing loans. As of September 2018, Daiwa Securities Group has USD 184 billion in total assets.
By Michelle Fleming, Research Associate
Sources and Additional Resources
DEG press release
https://www.deginvest.de/Newsroom/News/Pressemitteilungen-Details_492736-2.html
Rent2Own homepage
http://rent2own.com.mm/
Daiwa Partners homepage
http://www.dpipartners.co.jp/english/
DEG homepage
https://www.deginvest.de/
Incofin homepage
http://www.incofin.com
MICROCAPITAL BRIEF: Incofin’s AGRIF Buys 10% Equity Stake in Armenia’s Inecobank from IFC, DEG
https://www.microcapital.org/microcapital-brief-incofins-agrif-buys-10-equity-stake-in-armenias-inecobank-from-ifc-deg/
MICROCAPITAL BRIEF: BIO, EIB, PROPARCO Participating in $2.6m agTAF Technical Assistance Fund Launched by Incofin for Rural Entrepreneurs
https://www.microcapital.org/microcapital-brief-bio-eib-proparco-participating-in-2-6m-agtaf-technical-assistance-fund-launched-by-incofin-for-rural-entrepreneurs/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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