responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling USD 500,000 in Ghana. Sinapi Aba Trust (SAT), a private non-governmental organization (NGO) established in Ghana in 1994, will receive USD 350,000 from responsAbility Global Microfinance Fund and USD 150,000 from responsAbility Mikrofinanz-Fonds. The investment funds are two of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid and responsAbility Microfinance Leaders.
According to the MIX Market, the microfinance information clearinghouse, SAT had total assets of USD 19.5 million, a gross loan portfolio of USD 13.1 million and 88,220 active borrowers as of 2008. In 2009 it reported a 3.18 percent return on equity (ROE) and 9.52 percent return on assets (ROA). For the current year, the responsAbility Global Microfinance Fund reports USD 475 million in total assets, USD 335 million of which are allocated to 202 microfinance investments. In 2010, responsAbility Mikrofinanz-Fonds reports total assets of USD 103 million, USD 74 million of which are allocated to 130 microfinance investments.
About Sinapi Aba Trust:
Sinapi Aba Trust (SAT) is an autonomous, private, non-governmental organization registered on May 30, 1994. SAT seeks to provide microfinance services to small and micro enterprises in Ghana. SAT is a member of two US-based organizations, Opportunity International Network, microfinance organization founded in 1971, and Grameen Foundation, a nonprofit microfinance organization founded in 1997.
About responsAbility Global Microfinance:
The responsAbility Global Microfinance Fund (rAGMF) invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. As of April 2010, it has been certified by the Luxemburg Funding Labeling Agency (LuxFLAG), an independent nonprofit that certifies MIVs based on their direct or indirect investment in the microfinance sector.
About responsAbility Mikrofinanz-Fonds:
The responsAbility Mikrofinanz-Fonds invests in microfinance institutions (MFIs) through debt securities and equity investments. The fund was created in 2007 by responsAbility of Luxemburg, and is financed by Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse D?sseldorf, a German bank. As of April 2010, it has been certified by the Luxemburg Funding Labeling Agency (LuxFLAG), an independent nonprofit, which certifies MIVs based on their direct or indirect investment in the microfinance sector.
By Matthew Fox, Research Associate
Sources and Additional Resources:
E-mail correspondence with MicroCapital June 10, 2010
MicroCapital Universe: Sinapi Aba Trust:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=sinapi+aba+trust
MicroCapital Universe: responsAbility Global Microfinance: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)
MicroCapital Universe: responsAbility Mikrofinanz-Fond: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
MicroCapital Universe: Opportunity International Network: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+International
MicroCapital Universe: Grameen Foundation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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