responsAbility Invests $13.5m in Microfinance Institutions (MFIs) VisionFund Cambodia, Equity Bank of Kenya
September 11th, 2011, MicroCapital, Agriculture & Agri-business, Banking & Finance, Business & Commercial Development
responsAbility Social Investments AG, a Swiss for-profit company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has invested USD 13.5 million in microfinance institutions (MFIs) Equity Bank of Kenya and VisionFund Cambodia. The investments have been made through three MIVs: the responsAbility Global Microfinance Fund (rAGMF), which makes short- and medium-term investments in MFIs and MIVs; the responsAbility Microfinance Leaders Fund (rAMLF), which primarily invests in large MFIs; and the responsAbility Mikrofinanz-Fonds, which provides debt financing to MFIs.
In Kenya, responsAbility Mikrofinanz-Fonds and rAMLF have each invested USD 2.5 million and rAGMF has invested USD 7.5 million in Equity Bank, a deposit-taking MFI. As of December 31, 2010, Equity Bank reported to the US-based Microfinance Information Exchange (MIX), total assets of USD 1.66 billion, a gross loan portfolio of USD 925 million, return on assets (ROA) of 6.43 percent, return on equity (ROE) of 28.6 percent and 525,000 active borrowers. Read more
