MicroVest, an asset manager and subsidiary of US-based DAI Global, has reported lending USD 10 million to CreditAccess Philippines Financing Company, also known as OnePuhunan, a microfinance institution (MFI) that primarily lends to low-income female entrepreneurs and artisans. The MFI was founded in 2014 and is a member of the Netherlands-based CreditAccess Southeast Asia, whose holdings also include PT Bina Artha Ventura, an MFI in Indonesia reporting a gross portfolio of IDR 1.59 trillion (USD 107 million) and a client base of around 466,000 as of March 2023.
As of 2023, OnePuhunan serves around 400,000 clients, employs 1,500 staff members, and maintains an average loan size equivalent to USD 300. Financial information on the organization is not available.
During the 2019-2020 fiscal year, CreditAccess Southeast Asia was created along with CreditAccess India by a demerger of CreditAccess Asia.
MicroVest was founded in 2003 and specializes in channeling wholesale loans to funders of micro-, small and medium-sized enterprises (MSMEs) in low- and middle-income countries. For 2022, the organization reported a 20-percent average return on assets, ending the period with a gross loan portfolio of USD 1 billion.
DAI Global is 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 firm has 16 offices and employed 5,000 people as of 2021.
By Rohit Dayanand, Research Associate
Sources and Additional Resources
MicroVest press release
https://microvestfund.com/microvest-invests-10-million-in-onepuhunan-to-support-women-microentrepreneurs-in-the-philippines/
OnePuhunan homepage
https://onepuhunan.com.ph/
OnePuhunan client app
https://play.google.com/store/apps/details?id=ph.com.onepuhunan.appmobile
OnePuhunan loan officer app
https://play.google.com/store/apps/details?id=com.nextbank.collections.op
PT Bina Artha Ventura homepage
https://bina-artha.com/
CreditAccess India Fiscal Year 2019-2020 Report
https://www.creditaccess.com/wp-content/uploads/2021/02/CAINV-Annual-report-FY1920.pdf
Impact + Advisory homepage
https://impactplusadvisory.com/
DAI Global homepage
https://www.dai.com
Previous MicroCapital brief on MicroVest
https://www.microcapital.org/microcapital-brief-annapurna-of-india-borrows-10m-from-microvest-to-expand-microfinance-for-rural-women/
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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