Switzerland’s responsAbility social investments recently reported to MicroCapital that its Microfinance Leaders Fund (rAMLF) has loaned USD 2.5 million to FINCA Kyrgyzstan and USD 500,000 to HUMO and Partners of Tajikistan.Established in 2006, rAMLF is an investment vehicle that mobilizes capital for microfinance institutions. In 2009, rAMLF claimed fund assets totaling USD 193 million including a microfinance portfolio of USD 154 million.
FINCA Kyrgyzstan is a branch of FINCA International, a US-based microfinance organization that was established in 1995. As of 2009, FINCA International operates in 21 countries and has USD 467 million in total assets. In 2009, FINCA Kyrgyzstan reported total assets of USD 61.7 million and approximately 108,000 active borrowers to the US-based nonprofit data provider Microfinance Information Exchange (MIX).
Founded in 2004 by the local affiliate of Switzerland-based NGO CARE International, HUMO and Partners is a microfinance institution that serves micro- and small businesses in Tajikistan. In 2009, the organization reported to MIX total assets of USD 6.2 million, a gross loan portfolio of USD 3.3 million, approximately 7,700 borrowers, return on assets (ROA) of 6.8 percent and return on equity (ROE) of 24.8 percent.
By Rick Altieri, Research Associate
About responsAbility Social Investments AG: Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. According to calculations based on data from the Microfinance Information Exchange (MIX) from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Microfinance Leaders Fund: The responsAbility Microfinance Leaders Fund (rAMLF) invests in large microfinance institutions (MFIs) through debt securities and equity investments. LuxFLAG, an independent organization that certifies that microfinance vehicles actually invest in the microfinance sector, renewed rAMFL’s label as of April 2010. In 2009, rAMLF claimed fund assets totaling USD 193 million including a microfinance portfolio of USD 154 million.
About FINCA International: Founded in 1984 by Dr John Hatch, a pioneer of the village banking model, the Foundation for International Community Assistance (FINCA) International is a global microfinance network based in Washington, DC, serving approximately 700,000 people through its subsidiaries in 21 countries. As of 2009, it had total assets of USD 467 million, with an operating profit of USD 742,000.
About FINCA Kyrgyzstan: FINCA Kyrgyzstan is a branch of FINCA International, a US-based microfinance organization that was established in 1995 with a USD 6.2 million grant from the United States Agency for International Development (USAID), a US government agency that supports global economic and humanitarian assistance. According to FINCA Kyrgyzstan, approximately 70 percent of the unemployed in Kyrgyzstan are women, which is why the organization mainly targets female bazaar workers as its clients. As of March 2011, FINCA Kyrgyzstan reported loans outstanding of USD 50 million and 110,000 clients.
About HUMO and Partners: Based in Tajikistan and founded in 2004 by the local affiliate of Switzerland-based NGO CARE International, HUMO and Partners is a microfinance institution (MFI) that serves micro- and small businesses. In addition to microcredit services, HUMO offers consulting services such as cash flow analysis and business plan development. In 2009, HUMO reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 6.2 million, a gross loan portfolio of USD 3.3 million, approximately 7,700 borrowers, return on assets (ROA) of 6.8 percent and return on equity (ROE) of 24.8 percent.
Sources and Additional Resources:
Data submitted by responsAbility Social Investments AG to MicroCapital, May 2011
Microcapital’s Microfinance Universe Profile: responsAbility, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe Profile: responsAbility Microfinance Leaders Fund (rAMLF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Microfinance+Leaders+Fund+%28rAMLF%29
MicroCapital’ Microfinance Universe Profile: FINCA International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+International
MicroCapital’s Microfinance Universe Profile: FINCA Kyrgyzstan, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+Kyrgyzstan
MicroCapital’s Microfinance Universe Profile: HUMO and Partners, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=HUMO+and+Partners
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