MICROCAPITAL BRIEF: MicroVest Loans $4.5m to Financiera FAMA for MSMEs in Nicaragua

US-based asset manager MicroVest recently reported disbursing a loan of USD 4.5 million to Financiera FAMA, a microfinance institution (MFI) that was founded as Fundación para el Apoyo a la Microempresa. Established in 1991 and headquartered in the city of Managua, FAMA provides services such as payments, insurance, currency exchange and loans. Its loans are designed for purposes including housing, vehicles, consumption, microenterprise, and small and medium-sized enterprise (SME). For the nine months ending September 2022, the institution reports NIO 18 million (USD 480,000) in net operating income on total assets of NIO 2.1 billion (USD 58 million).

MicroVest was founded in 2003 and specializes in channeling investments to funders of microenterprises and SMEs in low- and middle-income countries. The firm manages a portfolio that was valued at USD 519 million as of 2021.

MicroVest is owned by DAI Global, an employee-owned firm that is active in 100 countries in areas such as “economic development, sustainable business, climate change and the environment, governance, gender, and health.” The US-based firm has 16 offices and employed 5,000 people as of 2021.

By Renata Samadova, Research Associate

Sources and Additional Resources

MicroVest press release
https://microvestfund.com/microvest-supports-msme-development-in-nicaragua-with-investment-in-financiera-fama/

FAMA homepage
http://financierafama.com.ni

DAI Global homepage
https://www.dai.com

Previous MicroCapital brief on MicroVest
https://www.microcapital.org/microcapital-brief-sonata-borrows-6m-from-microvest-for-group-microlending-to-women-in-rural-india/

Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Download a sample at https://www.microcapital.org/products-page/.

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