Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that it has invested an undisclosed amount of funds in five Latin American microfinance institutions (MFIs): Semilla Solidaria (SemiSol) of Mexico, Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) of Ecuador and Institución Financiera de Desarollo (IFD) Sembrar Sartawi and Instituto para el Desarrollo de la Pequeña Unidad Productiva (IDEPRO) both of Bolivia [1]. SemiSol and IDEPRO are new to the funds’ portfolios.
SemiSol is a Mexican MFI that provides a range of loan products from nine branches in the state of Chiapas. As of December 31, 2010, SemiSol reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 5.3 million, a gross loan portfolio of USD 4.8 million, return on assets (ROA) of 9.89 percent, return on equity (ROE) of 38 percent and approximately 10,500 active borrowers.
COMIXMUL was established in 1968 in Honduras. It is a cooperative that provides microfinance services and business development programs. COMIXMUL works primarily with underserved women. As of December 31, 2010, COMIXMUL reported total assets of HNL 543 million (USD 29 million). COMIXMUL does not report financial information to MIX.
CACMU is an Ecuadorian microfinance institution (MFI) that is registered as a savings and credit cooperative society (SACCO). CACMU was established in 2001 and provides a range of services including loans, savings, insurance and business training. As of December 31, 2010, CACMU reports to MIX total assets of USD 4.1 million, a gross loan portfolio of USD 3.2 million, ROA of 0.76 percent, ROE of 4.55 percent and approximately 1,960 active borrowers.
IFD Sembrar Sartawi is a Bolivian MFI that was established in 1989. The MFI aims to contribute to the development of micro- and small-scale enterprises by providing financial services to underserved communities. As of June 30, 2011, IFD SEMBRAR Sartawi reported to MIX total assets of USD 12.8 million, a gross loan portfolio of USD 10.8 million, ROA of -5.4 percent, ROE of -32 percent and approximately 8,220 active borrowers.
IDEPRO is a Bolivian MFI that provides loans and business development services supporting small producers and other micro-, small and medium enterprises. As of June 30, 2011, IDEPRO reported to MIX total assets of USD 26 million, a gross loan portfolio of USD 23.3 million, ROA of 2.18 percent, ROE of 10.6 percent and approximately 7,120 borrowers.
Triodos manages the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and the Triodos Microfinance Fund. As of December 31, 2010, these four microfinance funds had a total of USD 338 million in assets under management invested in approximately 90 MFIs in 43 countries.
By Kristha Abores, Research Associate
About Triodos Investment Management:
Triodos Investment Management manages several funds that provide risk capital including Triodos Venture Capital Fund BV and Triodos Ventures BV. The firm invests specifically in the area of the development of financial sectors in developing countries, renewable energy finance and venture capital. Triodos also manages four microfinance investment funds: the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and Triodos Microfinance Fund. As of December 31, 2010, Triodos’ four microfinance funds had USD 338 million in assets under management.
About Semillia Solidaria (SemiSol):
Semillia Solidaria (SemiSol) is a Mexican microfinance institution (MFI) that provides a range of loan products from nine branches in the state of Chiapas. As of December 2010, SemiSol reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 5.3 million, a gross loan portfolio of USD 4.8 million, return on assets of 9.89 percent, return on equity of 38 percent and approximately 10,500 active borrowers.
About Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL):
Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) was established in 1968 in Honduras. It is a cooperative that provides microfinance services and business development programs to its members who are primarily underserved women. As of December 31, 2010, COMIXMUL reported total assets of HNL 543 million (USD 29 million). COMIXMUL does not report financial information to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider.
About Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU):
Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) is an Ecuadorian microfinance institution (MFI) that is registered as a savings and credit cooperative society (SACCO). CACMU was established in 2001 and provides a range of services including loans, savings, insurance and business training. As of December 31, 2010, CACMU reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 4.1 million, a gross loan portfolio of USD 3.2 million, return on assets (ROA) of 0.76 percent, return on equity (ROE) of 4.55 percent and approximately 1,960 active borrowers.
About Institución Financiera de Desarollo (IFD) Sembrar Sartawi:
Institución Financiera de Desarollo (IFD) Sembrar Sartawi is a Bolivian microfinance institution (MFI) that was established in 1989. The MFI aims to contribute to the development of urban and rural micro- and small-scale enterprises by providing financial services to underserved communities. As of June 30, 2011, IFD Sembrar Sartawi reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 12.8 million, a gross loan portfolio of USD 10.8 million, return on assets (ROA) of -5.4 percent, return on equity (ROE) of -32 percent and approximately 8,220 active borrowers.
About Instituto para el Desarrollo de la Pequeña Unidad Productiva (IDEPRO):
Instituto para el Desarrollo de la Pequeña Unidad Productiva (IDEPRO) is a Bolivian MFI that provides loans and business development services supporting small producers and other micro-, small and medium enterprises. As of June 30, 2011, IDEPRO reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 26 million, a gross loan portfolio of USD 23.3 million, return on assets of 2.18 percent, return on equity of 10.57 percent and approximately 7,120 borrowers.
Sources and Additional Resources:
[1] Information submitted by Triodos to MicroCapital
MicroCapital.org article, October 10, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions DemirBank of Azerbaijan; First Microfinance Bank, Arvand of Tajikistan; Arnur Credit of Kazakhstan; Kompanion of Kyrgyzstan”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
MicroCapital.org article, June 15, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) COMIXMUL of Honduras, CACMU of Ecuador, Sembrar Sartawi of Bolivia”, https://www.microcapital.org/microcapital-brief-triodos-invests-in-microf…
MicroCapital Universe Profile: Triodos Investment Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tri…
MicroCapital Universe Profile: Semillia Solidaria, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Semillia+Solidaria+%28SemiSol%29
MicroCapital Universe Profile: Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Coo…
MicroCapital Universe Profile: Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Coo…
MicroCapital Universe Profile: Institución Financiera de Desarollo (IFD) Sembrar Sartawi, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IFD…
MicroCapital Universe Profile: IDEPRO, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Instituto+para+el+Desarrollo+de+la+Peque%C3%B1a+Unidad+Productiva+%28IDEPRO%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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