Sa-Dhan’s 18th annual conference will focus on alleviating poverty through financial inclusion and associated services, including: (1) Microinsurance; (2) Micropensions; (3) Health; (4) Water and Sanitation; (5) Clean Energy and Climate Change; (6) Digitization;
Tag: Housing
MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
Incofin, a Belgian investor in lower-income countries, has invested INR 350 million (USD 4.3 million) to take an equity stake of undisclosed size in Varashakti Housing Finance (VHF), a firm active in
MICROCAPITAL BRIEF: KEPFIC Member Pension Funds Invest $61m in Acorn Holdings, Kenya Mortgage Refinance Company (KMRC) to Boost Affordable Housing
Kenya’s Acorn Holdings Africa and the Kenya Mortgage Refinance Company (KMRC) recently won investments from members of the Kenya Pension Funds Investment Consortium (KEPFIC), a group of funds that collaborate to invest in alternative assets. In particular, KEPFIC pension funds placed
MICROCAPITAL BRIEF: Inmobiliaria Ruba Borrowing Up to $75m from IDB Invest to Increase Access to, Affordability of Housing in Mexico
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, recently agreed to lend MXN 1.5 billion (USD 75 million) to Mexico-based housing developer Inmobiliaria Ruba to expand access to low- and middle-income housing in Mexico. Along with the funding, IDB Invest will assist Ruba in: (1) becoming less impactful on the environment; and (2) strengthening its relationships with smaller suppliers by providing them with short-term finance via “reverse factoring.” One third of the funding from IDB Invest is for
MICROCAPITAL BRIEF: IFC Lending $124m to Absa to Increase Access to Housing in South Africa
The World Bank Group’s International Finance Corporation (IFC) recently agreed to loan Absa Group Limited up to ZAR 2 billion (USD 124 million) to increase access to housing loans for “thousands” of low- and middle-income families in South Africa. In addition to its home country of South Africa,
MICROCAPITAL BRIEF: Symbiotics Partners with Cooperative CACPECO on $14m Bond for Housing, MSME Lending in Ecuador
Symbiotics, a Switzerland-based impact investing firm, recently partnered with Cooperativa de Ahorro y Crédito de la Pequeña Empresa de Cotopaxi (CACPECO), a cooperative in Ecuador, to fund it with the proceeds of a bond in the amount of USD 14 million, for a term of 4 years. The funds are to be used for: (1) housing loans with 15-year terms and interest rates of 9.9 percent per year; and (2) business loans of up to USD 1 million for micro-, small and medium-sized enterprises (MSMEs). Of the MSME loans,
MICROCAPITAL BRIEF: CDC, Futuregrowth Participate in $36m Funding Package for Divercity Urban Property Fund to Build 2,500 Sustainable Housing Units in South Africa
The CDC Group, a development finance institution backed by the UK government, has announced a commitment of ZAR 500 million (USD 36 million) from it and other investors to the Divercity Urban Property Fund, a for-profit entity based in South Africa that invests in high-density urban areas. The funding is designated for
MICROCAPITAL BRIEF: DFC to Invest $40m in Housing, Microfinance, SME Lending, Agriculture in Guatemala
The government-backed US International Development Finance Corporation (DFC) recently agreed to invest USD 40 million in Guatemala in the following segments: (1) a loan of USD 19.5 million to Guatemala-based real estate company Destino Desarrollos to aid in the construction of “approximately 2,000 homes and associated infrastructure” deemed “affordable” in the cities of Coban, Fraijanes and Quetzaltenango; (2) with support from the US Agency for International Development (AID), a loan guarantee of USD 15 million to Guatemala-based bank Interbanco, to cover the local-currency equivalent of USD
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $225m to Banco Agromercantil de Guatemala (BAM) to Expand Lending for Housing; Small, Medium-sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, recently disbursed a loan of USD 225 million to Banco Agromercantil de Guatemala (BAM), a subsidiary of Colombia-based Grupo Bancolombia. The loan is for on-lending by BAM for housing as well as
MICROFINANCE EVENT: 8th Global Housing Summit: “Breaking the Mold – New Ideas for Financing Affordable Housing”; May 29 – June 1, 2018; Washington, DC, USA
Event Summary: This event will review how technology, government policies and other factors are affecting the financing of housing for people with low incomes. The program on May 29 includes a visit to the World Bank’s headquarters and pre-conference sessions such as the