Production capacity development

Contracts CD 2018

 

Above and Beyond: EUR 34,500 – CD project.

The project is a top-up investment to contract Above and Beyond Tech LLC (renamed ‘FinConecta’) as a content provider for the ‘Embracing Fintech Program’. The latter aims at supporting MFIs in the MENA region and the top up focused on consisted the follow-up session in Jordan.

 

Above and Beyond: EUR 26,300 - CD project

Initial financing for the first workshop in Cairo of 'Embracing FinTech Program', which brought together a group of 20 different MFIs from across the MENA region and focused on developing their digital transformation strategy. FMO organised the session together with its partners Sanad, Sanabel and FinConecta; a follow-up session took place in Jordan in November.

 

Accion International: EUR 12,000 – Top up of a CD project.

This project targeted the Centre for Financial Inclusion (CFI) event and hosted by Accion, a global non-profit organisation supporting microfinance institutions. CFI is an action-oriented think tank working towards full global financial inclusion. MASSIF is supporting CFI in creating a board development program for Africa, which aims to build leadership and governance capacity among the leaders of the continent's microfinance institutions.

 

Accion Internacional: EUR 55,000 – CD project

The Center for Financial Inclusion at ACCION (CFI) is an action-oriented think tank that pursues a comprehensive vision for financial inclusion. The funding supports the CFI Fellows program research on how small and mediumsized financial institutions can overcome challenges and transaction costs associated with finding, entering into, and leveraging Fintech partnerships for customer outcomes.

 

Accion Internacional: EUR 87,000 – CD project.

The aim of this project is to make the Fintech CEO Forum and Fintech for Inclusion event possible in 2019. This will provide the CEO participants with the opportunity to learn how other leaders are tackling the most pressing and relevant problems in fintech and financial inclusion.

 

Apollo Agriculture: EUR 213,147 - Convertible grant

Apollo is a start-up based in Kenya, operating at the intersection of AgriTech and FinTech. It is supplying small farmers with high-quality farming inputs on credit, crop insurance and voice-based training. Apollo uses a unique ‘high tech, low touch’ model by leveraging advances in mobile money, machine learning and remote sensing technology including satellite data.

 

Fairtrade Access Fund: EUR 200,000 – CD project.

Fairtrade Access Fund (FAF) is an impact investing fund that benefits smallholder farmers by providing debt to well-run producers that are Fairtrade certified or have applied for certification. FAF is introduce a unique one-stop shop that will provide trade finance, working capital, and long-term loans.

 

FeedSol EUR 300,000 - convertible grant

FeedSol provides quality animal fodder to smallholder dairy farmers, who are unable to buy commercial size forage. Quality feed has a significant impact on the quantity of milk that a cow will produce. FeedSol will provide forage on credit with repayments coming from milk deliveries to Engro Foods. The investment is a good example of how FMO supports its larger clients to be impactful and provide smallholder farmers with goods and services that allow them to grow and prosper.

 

Financera FAMA: EUR 16,000 – top up of a CD project.

MFI Financiera FAMA provides support through credit and training to the micro and small business sector in Nicaragua. The current support is a top-up to the undergoing efforts to update the MIS and ICT platforms of the client, to make it more modern and robust and to enable it to be compliant with the regulator's requirements for a deposit taking institution.

 

Frankfurt School of Finance: EUR 46,450 – CD project.

This is a project for Massif client JSC MFO Crystal, a Georgian based MFI. The project aims to strengthen thein-house credit risk capacity and develop an initial credit scoring model for the micro- and consumer credit and to support to the implementation of the new business line of Green Finance at JSC MFO Crystal Georgia. The project is part of the MASSIF-CD framework agreement with Frankfurt School of Finance.

 

Frontier Markets, Women in Energy: EUR 300,000 – repayable grant.

Frontier Markets is a last-mile sales, marketing and after-sales service distribution company bringing clean energy products to rural India. The project focuses on reducing inequalities by supporting financial product innovation for those currently excluded of financial and energy services, especially focusing on including women.

 

Gazelle: EUR 75,000 - CD project

Gazelle focuses on supporting SMEs in and provides growth-oriented risk capital to SMEs in the Eurasia region. MASSIF funding supports Gazelle in vetting its investees by co-funding a Technical Assistance facility together with Triple Jump. Prospect portfolio companies and portfolio companies, depending on their size and revenues will receive a zero-interest loan or a TA-grant (only for PCs). MASSIF funds this project because it is in line with its aims to support SMEs that have high-growth potential but lack the collateral or sufficient cash flow that banks require for lending purposes.

 

Huozhi: EUR 250,000 – convertible grant.

Huozhi is a social impact enterprise that provides a vehicle for donations of safe and direct financial assistance to ‘unbankable’ people. Huozhi’s purpose is to enable more families to stay in their home country with dignity, allow survival of local businesses to survive, and support donors to optimize value for money while reducing the risk of financial crime. The Huozhi system allows aid to reach those who need it the mos:t at the bottom of the pyramid in fragile states. This convertible grant will support Huozhi in their start-up phase.

 

Intellecap Advisory Services: EUR 40,000 - CD project.

Intellecap Advisory Services is an Indian Consultancy firm that aims to foster businesses delivering market-based solutions to poverty reduction. The objectives of this project are to create visibility for FMO in the South-East Asian Fintech sector support Intellecap with an in-depth assessment of the Fintech Sector by mapping out potential investment opportunities.

 

Lendable Inc.: EUR 35,000 - CD project

Lendable is a FinTech platform using cash-flow predictions to offer adapted services to alternative lenders such as off-grid energy and (non-bank) finance companies that target un(der)served MSME. Funding is provided to support responsible lending workshops organised by Lendable on Client Protection Principles in Africa. This initiative is in line with FMO’s and MASSIF’s mandate to promote and stimulate responsible finance on topics such as transparency and avoidance of cross-indebtedness.

 

Lendable Inc: EUR 388,149 - convertible grant.

The convertible grant to the Kenya-based FinTech platform provides a first loss backstop that is expected to unlock an additional USD 4.5 mln from commercial investors. This will be strengthem Lendable's funding potential to alternative lender clients (mainly FinTechs and off-grid energy companies) across Africa.

 

Liwwa: EUR 18,800 - CD project.

Liwwa is a Jordanian FinTech start-up that operates a crowdfunding platform to provide trade finance to un(der)served small businesses in Jordan. The project has three objectives i) Strenthening KnowYourCustomer and Anti Money-Laundering practices ii) Assessing the legal framework and iii) Assessing Liwwa’s lending activities against Client Protection Practices and provide recommendations for improvements.

 

Maha Agriculture Public Co: EUR 80,000 - CD project.

Maha is a microfinance institution focused on agriculture in rural Myanmar. It aims to increase access to appropriate finance for Myanmar’s farmers through the implementation of a solution developed by Agri Fintech Harvesting. The project will scale Maha’s farmer lending operations, through implementation of a digital field application. It is of strategic relevance given MASSIF's focus on rural livelihoods and smallholder farmer financial inclusion.

 

Milan Innovincy: EUR 500,000 – convertible grant.

Milan Innovincy, (MI) a Dutch based technology compan yfocusing on spatiotemporal computing. It is active in eight countries across Sub-Saharan Africa. The funding will support the creation of a digital plot technology and further develop products linking plot data to geo-data, which is relevant for service providers such as plantation managers, agri input suppliers, banks and insurance companies.

 

MASSIFxChange SEF - Agora Microfinance Zambia: EUR 1,750 – CD project.

FMO supported a learning exchange between FMO’s Massif client SEF and Agora Microfinance Zambia in Lusaka, Zambia. The primary objective of the exchange was to learn best practices for SME lending and to guide SEF’s Larger Loan Pilot (LLP).

 

NpM Innovator's Challenge: EUR 192,000 - CD project

The objective of the Innovator’s Challenge is to incentivize technology companies to come up with solutions linking geodata to rural financing. FMO’s contribution will support the cash prize for one of the enterprise winners.

 

Small Entreprise Foundation (SEF): EUR 21,735 top up of existing CD project

The goal of this project is to support SEF in designing and launching a Total Quality Management system that will ensure quality and compliance, accompanied by a set of tools to monitor activity on a regular basis.

 

Meloy Fund: EUR 219,273  - CD project.

The Meloy Fund is the world’s first impact investment fund dedicated to supporting sustainable coastal fisheries in Asia. The funding objective of the project is three-fold: i) to develop a business and Corporate Governance training curricula, in order to support investees in developing the requisite coastal fisheries ecosystem ii) to train small-scale fisheries on how to adopt better fishing techniques, iii) to co-develop the first globally recognized protocol for Monterey Bay’s Seafood Watch certification.

 

Vision Fund International (VFI): EUR 98,000 - CD project.

Vision Fund International is a global network of 32 MicroFinance Institutions. This project will support VFI to further develop its innovative African and Asian Resilience in Disaster Investment Scheme (A2RDIS). Incepted in January 2018, ARDIS enables VFI’s investees to be increase their financial stability in case of disaster, by offering immediate funding to restore livelihoods through recovery lending programmes.

 

Board memberships: EUR 167,885 - Corporate Governance Project

 

Remuneration for 10 MASSIF's nominated boardmembers

  

Capacity Development

2018

Number of CD projects

25

CD funding

EUR 3.4 mln