MICROCAPITAL BRIEF: Golden Brigades Launches Eskala, Investor of Microequity in Cooperatives in Rural Central America

Golden Brigades, which is registered as a charity in five North American and European countries, recently launched a for-profit entity called Eskala to focus on using microequity to support cajas rurales, rural banking cooperatives. As of 2021, Eskala has invested in 100 coops in Honduras, Nicaragua and Panama, and the firm plans to expand to Ghana. The equity investments range from about USD 500 in Panama to USD 4,000 in Honduras. In addition to microequity, Eskala provides coops with technical assistance and loans. Eskala’s investees have lent a total of USD 800,000 to their members.

Eskala has raised USD 1.29 million in equity as of 2021. Its debt funders include the US-based NGO Kiva. Golden Brigades is a student-led NGO that works to enable access to health systems, economic development, and water and sanitation infrastructure in Central America, Ghana and Greece. During 2020, the organization raised USD 5.7 million and expended USD 7.9 million.

By Divya Deshmukh, Research Associate

Sources and Additional Resources

Forbes article
https://www.forbes.com/sites/annefield/2021/08/30/startup-eskala-aims-to-reimagine-microfinance-with-micro-equity/?sh=42b91ce13cfd

Eskala homepage
https://www.eskala.org/

Golden Brigades homepage
https://www.globalbrigades.org/

Golden Brigades financial report
https://www.globalbrigades.org/about-us/financials/

Kiva homepage
https://www.kiva.org/

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