Incofin, a Belgium-based investor in lower-income countries, recently invested EUR 7.5 million (USD 7.8 million) through its Water Access Acceleration Fund (W2AF) in Rite Water Solutions, a company seeking to improve access to clean drinking water in India. Founded in 2006, Rite Water specializes in
Tag: Incofin
MICROCAPITAL BRIEF: Microfinance Institution PEBCo-Bethesda of Benin Borrows $2m from Incofin via Agricultural Liquidity Fund
Incofin, a Belgium-based investor, recently disbursed a loan of EUR 2 million (USD 2.1 million) to PEBCo-Bethesda, a microfinance institution in Benin, from the Agricultural Liquidity Fund (ALF).
MICROCAPITAL BRIEF: LOLC Buys 28% Equity Stake in Unguka Bank, Provider of Microfinance in Rwanda, from Incofin
Lanka Orix Leasing Company (LOLC) Holdings, a Sri Lankan unit of the Japanese conglomerate Orix, recently paid an undisclosed sum to Belgium’s Incofin Investment Management to acquire 28 percent of the shares of Rwanda’s Unguka Bank. Unguka provides deposit, lending and other services to individuals as well as micro-, small and medium-sized enterprises (MSMEs). The bank has 15 service locations in the capital and three provinces. It serves 1,700 clients with total assets of USD 29 million. Unguka received its license from the National Bank of Rwanda in 2005.
Geert Peetermans, Co-CEO of Incofin commented: “From the time we
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: Incofin Closes India Progress Fund with $77m to Promote Financial Inclusion, Agricultural Value Chains
The Belgium-based investment firm Incofin recently completed the final close of its India Progress Fund with a total of USD 77 million raised to support financial services providers and actors in
MICROCAPITAL BRIEF: Bailyk Finance Borrows from Incofin for On-lending to Small-scale Entrepreneurs, Farmers in Kyrgyzstan
Belgium’s Incofin Investment Management recently provided a loan of an undisclosed amount to Kyrgyzstan-based Bailyk Finance to support the microlender’s mission “to create affordable financial solutions for rural and small cities’ residents to improve their quality of life.” Established in 2011, Bailyk provides microloans and associated insurance for consumption, enterprise, farming, housing, solar energy, medical and other purposes to 45,000 consumers – mostly women – through 43 offices. The company’s loan formats include
MICROCAPITAL BRIEF: Incofin Lends $1.5m from Fairtrade Access Fund to Lafaza to Support Vanilla Farmers in Sava Region of Madagascar
Belgium’s Incofin Investment Management recently lent USD 1.5 million from the Fairtrade Access Fund (FAF) to Lafaza Trading, a company with offices in Madagascar and the US that buys vanilla and other spices “directly [from 1,000] smallholder farm owners who use organic and sustainable agricultural practices.” Lafaza works with farmers to help them
MICROCAPITAL BRIEF: Incofin Raises $60m for India Progress Fund, Bringing Equity Investments to Rural Entrepreneurs, Value Chains from DFIs, Family Offices, King Baudouin Foundation, Korys, SDG Frontier Fund
Belgium-based Incofin Investment Management recently announced it has raised USD 60 million for the first close of the Incofin India Progress Fund (IPF). The fund will issue private equity investments that support
MICROCAPITAL BRIEF: IIV Disburses $18m to Khan Bank of Mongolia, Including for On-lending to MSMEs Developing Post-COVID Business Models
Germany’s Invest in Visions (IIV), under the advice of Belgium-based Incofin Investment Management, recently lent USD 18 million to Khan Bank of Mongolia from the fund IIV Mikrofinanzfonds. The proceeds primarily are slated for on-lending to micro-, small and medium-sized enterprises (MSMEs), especially
MICROCAPITAL BRIEF: Incofin Loans $2m to Bina Artha for Microfinance, Small Business Loans for Rural Women in Indonesia
Recently, Belgium-based Incofin Investment Management (IM) lent USD 2 million from its Incofin CVSO fund to Bina Artha, a microfinance institution (MFI) in Indonesia. Incofin IM acknowledges that
MICROCAPITAL BRIEF: Incofin Assists SOPROCOPIV Coffee Cooperative with Fairtrade Certification, COVID-19 Adjustment in Democratic Republic of Congo (DRC)
Incofin, an investment management firm based in Belgium, recently launched a technical assistance project for Solidarité pour la Production et la Commercialisation des Produits Industriels et Vivriers (SOPROCOPIV), a coffee cooperative in the Democratic Republic of Congo (DRC). The goal is to help SOPROCOPIV become certified by Germany’s Fairtrade International by
MICROCAPITAL BRIEF: Incofin Lending $1m to EFC Uganda to Support Micro-, Small, Medium-Sized Enterprises; to Advise on Social Performance
Belgium-based Incofin Investment Management recently disbursed the initial USD 1 million of a “multi-million dollar” loan package for Entrepreneur Financial Centre (EFC) Uganda. EFC Uganda’s target market is micro-, small and medium-sized enterprises (MSMEs). Incofin made the investment through its agriculture-focused fund, agRIF. I&M Burbidge Capital, a Nairobi based company was the lead advisor to EFC Uganda for this transaction.
MICROCAPITAL BRIEF: IFU, Incofin Invest $4.2m in Equity in Ningxia Dongfang Huimin Microfinance of China to Boost Financial Inclusion for Rural Women
Belgium-based Incofin Investment Management and the government-owned Investment Fund for Developing Countries, which is known by its Danish acronym IFU, recently invested USD 2.1 million each in Ningxia Dongfang Huimin Microfinance Corporation Limited to further Huimin’s provision of financial services to female farmers in China’s Ningxia province. Incofin placed the investment through its agRIF fund
MICROCAPITAL BRIEF: ADA Microfinance Launching 10-year “Smallholder Safety Net” Program Targeting Agricultural Value Chains, 3m Households; Partnering with 5 Impact Investors
ADA Microfinance, a Luxembourg-based NGO, recently announced a new program called the Smallholder Safety Net Upscaling Programme (SSNUP) to assist: (1) smallholder farmers in accessing insurance and implementing agricultural practices that increase productivity in a “climate-smart” manner; (2) actors in agricultural value chains in adopting “more sustainable environmental and social business practices;” and (3) boosting investment in agricultural value chains. The investors Grameen Credit Agricole Foundation, Incofin, Oikocredit, responsAbility and Symbiotics have agreed to participate by
MICROCAPITAL BRIEF: Incofin Loans $3m to Cooperativa Pacifico for Microfinance in Peru
Belgium-based Incofin Investment Management (IM) recently disbursed a loan of USD 3 million from one of its funds, Incofin CVSO, to Cooperativa Pacifico to allow the Peruvian microfinance institution to expand
MICROCAPITAL BRIEF: Incofin Loans $1.1m to SAVE, Provider of Rural Microfinance, Agent Banking, Toll-road Payment Services in India
Belgium-based Incofin Investment Management (IM) recently disbursed a senior loan of EUR 1 million (USD 1.1 million) from its fund Incofin CVSO to the Society for Advancement of Village Economy (SAVE), which “plans to utilise the…funding to support its two non-banking financial companies providing rural credit services” in India. SAVE’s other units offer
MICROCAPITAL BRIEF: Incofin; Microfinance Institutions Fundenuse, Fundeser, MiCrédito Operate Satellite-based Weather-index Microinsurance for Coffee, Grain Farmers in Nicaragua
Belgium’s Incofin Investment Management recently launched an insurance plan with Nicaraguan microfinance institutions (MFIs) Fundacion para el Desarrollo de Nueva Segovia (Fundenuse), Financiera Fundeser and MiCrédito to help 6,000 coffee and grain farmers be better prepared for climate change. The program utilizes “satellite imagery to
MICROCAPITAL BRIEF: Fusion Microfinance Raises $72m in Equity from Warburg Pincus, Creation Investments; Provides Exits to Incofin, Nordic Microfinance Initiative, SIDBI, BIO
US-based investors Warburg Pincus and Creation Investments recently placed INR 520 crore (USD 72 million) in equity in Fusion Microfinance, a provider of group loans and financial literacy training to women in rural areas of northern and central India. As part of the funding round, the following investors sold their stakes in the