Two microfinance institutions (MFIs) in the ASA International network, those in Ghana and Uganda, recently accepted local-currency loans from the Dual Return Vision Microfinance-Local Currency sub-fund of Austria-based C-Quadrat Asset Management. That sub-fund, together with the Dual Return Vision Microfinance sub-fund issued a total equivalent to USD 42 million during October. The other borrowing MFIs are located in Cambodia, East Timor, Ecuador, El Salvador, Guatemala, India, Indonesia, Mexico, Myanmar and Uzbekistan. This is the first time the Dual Return funds have invested in Guatemala and Uganda. The identities of the other MFIs and the amounts invested in each remain confidential.
ASA International is a microfinance holding company that owns and operates 13 microfinance institutions in Asia and Africa. The firm, which has offices in Bangladesh and the Netherlands, was co-founded by Md Shafiqual Haque Choudhury, the founder and President of ASA. ASA, also known as the Association for Social Advancement, is an NGO that provides savings, lending, health, education, agricultural and sanitation services primarily in rural Bangladesh. Catalyst Microfinance Investors, a microfinance fund co-founded by Mr Choudhury, launched ASA International in 2007. ASA International’s holdings operate 1,800 branches and hold an aggregate gross loan portfolio of USD 420 million outstanding to 2.3 million borrowers as of 2019.
As of October 2019, the Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency sub-funds hold assets valued at an aggregate of USD 608 million. The CQ Investment Group, which was founded in 1991, manages EUR 9.5 billion (USD 11 billion) in assets as of 2019. It has operations in 20 countries in Eurasia.
By the MicroCapital Team
Sources and Additional Resources
Information provided directly to MicroCapital by C-Quadrat
ASA International home page
https://www.asa-international.com/
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