This story comes to us here at MicroCapital.org courtesy of the May 2007 CGAP-MIX Capital Markets Update Newsletter. AccessHolding made a USD 430,414 equity investment in the Mozambique-based Banco do Microfinan Microfinan̤as de Mozambique (Socremo). Socremo is an African bank that was established in 1998 to provide – in a transparent, professional and sustainable way – financial services to low and middle income groups, with special focus on micro and small entrepreneurs. At the end of 2005, Socremo reported to the MIX Market, the microfinance information clearinghouse, of having a gross loan portfolio USD 5.3 mn and USD 8 mn in total assets. It also reported to having a capital to asset ratio of 36.15% and a debt to equity ratio of 176.66%.
Similar Posts:
- MICROCAPITAL BRIEF: Non-performing Loan (NPL) Ratios Up Among Microfinance Providers in Bangladesh
- MICROCAPITAL BRIEF: OnePuhunan Borrows $10m from MicroVest to Boost Microfinance for Women in the Philippines
- MICROCAPITAL BRIEF: EIB Lends Credo Bank $10m for MSMEs in Georgia
- MICROCAPITAL BRIEF: SBFC Raises $18m from Amansa for On-lending to Small Businesses, Households in India
- MICROFINANCE EVENT: MEDA Convention; November 2-5, 2023; Toronto, Canada