Joliba Capital of Côte d’Ivoire recently raised EUR 55 million (USD 57.8 million) for its newly launched Joliba Capital Fund. The participants in this first close of the fund are the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); the International Finance Corporation (IFC),
Tag: PROPARCO
MICROCAPITAL BRIEF: DFIs Invest $109m in Horizon Capital IV to Support SMEs in Ukraine, Moldova
Six public-sector organizations recently invested in the second funding round of Horizon Capital IV with the goal of enabling the equity fund to supply more working capital to “fast-growing, technology-enabled small and medium-size businesses” in Ukraine and Moldova. The fund also seeks to
MICROCAPITAL BRIEF: Sun King Nets $10m from Proparco for Solar Products in Africa via Bond Issue Arranged by Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently arranged a bond issue channeling USD 10 million from the French development finance institution Promotion et Participation pour la Coopération Économique (Proparco) to Sun King, a US-based firm selling solar products in Arica and Asia. Formerly known as GreenLight Planet, Sun King was founded in 2009. Its products include five types of solar lights, four types of home solar electrification kits and an inverter to
MICROCAPITAL BRIEF: BRAC Raising Debt from Global Partnerships, Proparco; Seeking to Expand Microfinance Outreach, Including into 3 New Countries
To grow its microfinance operations, BRAC International, which operates in a range of African and Asian countries, recently launched a programme to source debt from multiple investors, the first of which are Global Partnerships, an investment fund manager based in the US city of Washington, and Proparco, a development finance institution backed by the French government. With the new funding, BRAC International aims to grow its client base, which is made up almost entirely of women, and
MICROCAPITAL BRIEF: Major Development Funders Launch “Alliance for Entrepreneurship in Africa” to Support SMEs – Especially Those Run by Women, Youth
A group of organizations involved in international development recently launched the Alliance for Entrepreneurship in Africa (AforE) with the aim of supporting the growth of small and medium-sized enterprises (SMEs), particularly those owned or operated by youth and female entrepreneurs. The alliance seeks to
MICROCAPITAL BRIEF: Khan Bank of Mongolia Borrowing $120m from FMO, Atlantic Forfaitierungs, DEG, IIB, PROPARCO – Part for MSME Loans, Green Capacity
Khan Bank, which serves individuals and companies of all sizes in Mongolia, recently agreed to accept a borrowing package of USD 120 million arranged by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. FMO is funding
MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa
Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting
MICROCAPITAL BRIEF: The Currency Exchange Fund (TCX) Raises $200m in Equity from EU, IFC, KfW, PROPARCO to Manage FX Risk for Microfinance, Other Impact Investments
The Currency Exchange Fund (TCX) recently raised a total of USD 200 million in equity financing that it will use to lower the foreign-exchange risk of third-party impact investments in developing nations. TCX hedges emerging-market currencies to support investments
MICROCAPITAL BRIEF: AFD Loans $356m to IFAD to Assist Rural Farmers in Developing Sustainable Agriculture, Accessing Microfinance, Fighting Hunger, Responding to Climate Change, Enduring COVID-19 Pandemic
Agence Française de Développement (AFD), the overseas development agency of the French government, recently loaned EUR 300 million (USD 356 million) to the UN’s International Fund for Agricultural Development (IFAD) to assist small-scale rural farmers in developing nations. The funds are intended for managing natural resources,
MICROCAPITAL BRIEF: Hatton National Bank Borrows $60m from PROPARCO for SMEs in Sri Lanka
Hatton National Bank (HNB), a Sri Lanka-based financial institution, recently agreed to borrow USD 60 million from Promotion et Participation pour la Coopération Économique (PROPARCO),
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: FMO, PROPARCO Loan $80m to Banco Supervielle of Argentina for SMEs
The Dutch development bank, which is known by the acronym FMO, recently assembled a loan of USD 80 million for Banco Supervielle, a bank in Argentina, to finance small and medium-sized enterprises (SMEs) amid the recession in Argentina. The loan is funded in equal parts by
MICROCAPITAL BRIEF: BIO, EIB, PROPARCO Participating in $2.6m agTAF Technical Assistance Fund Launched by Incofin for Rural Entrepreneurs
Belgium-based impact investor Incofin Investment Management recently signed agreements with three government-backed institutions, the European Investment Bank (EIB), Société de Promotion et de Participation pour La Coopération Economique (PROPARCO) of France and the Belgian Investment Company for Developing Countries (BIO), to commit