Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently paid USD 3.1 million to acquire a 39.4 percent stake in Juhudi Kilimo, a Kenyan microlender offering
Tag: Nordic Microfinance Initiative
MICROCAPITAL BRIEF: Tugende Raises $17m in Debt from Symbiotics, Goldfinch, Nordic Microfinance Initiative, Lendahand to Expand Vehicle, Equipment Financing for MSMEs in Kenya, Uganda
Tugende, a financial technology (fintech) firm specializing in vehicle finance in Uganda and Kenya, recently raised USD 17 million in debt funding. The firm plans to use USD 12 million of the fresh cash to support growth in
MICROCAPITAL BRIEF: Triple Jump via ASN Microkredietpool, NMI, Incofin Place $9.4m in Equity in Light Microfinance for Financial Inclusion of Women in Rural India
Light Microfinance, a non-banking finance institution in India, recently raised equity from three European organizations: USD 4 million from Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership active in Africa and Asia; USD 3 million from ASN Microkredietpool, a microfinance fund managed by Netherlands-based Triple Jump; and EUR 2 million (USD 2.4 million) from
MICROCAPITAL BRIEF: Proximity Finance Raises $14m in Equity from Finnfund, Nordic Microfinance Initiative, Proparco to Support Farmers in Myanmar
Proximity Finance, a unit of Myanmar-focused social enterprise Proximity Designs, recently agreed to a package of equity investments totaling USD 14 million in equal shares from three European institutional investors, Proparco (Promotion et Participation pour la Coopération Économique), the Nordic Microfinance Initiative (NMI) and Finnfund. The deal, which is pending regulatory approval, would support Proximity Finance’s services to small-scale, rural farmers in Myanmar, including plans to disburse 1.5 million loans within four years and expand
MICROCAPITAL BRIEF: Nordic Microfinance Initiative Raises $5m from Lauritzen Fonden to Invest in Women in Africa, Asia
Denmark-based Lauritzen Fonden recently invested USD 5 million in “Fund IV” of the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that invests in microfinance institutions and agricultural initiatives in developing countries. The new investment is specific to microfinance, mainly for women in Africa and Asia.
Lauritzen describes itself as a “commercial foundation.” It earns income from shipping concerns and investments in real estate, technology, software and equipment and then disburses approximately DKK 40 million (USD 6 million) per year to support youth and