Production 2019


Access Bank RD Congo SA - USD 5 mln loan

Access Bank DRC is a subsidiary of long-standing client Access Bank Plc of Nigeria. Access Bank DRC strives to deliver financial services for sustainable economic growth that is profitable, environmentally responsible, and socially relevant. This loan will facilitate the finance of Access Bank's SME portfolio in DRC. The project has a strong emphasis on social and environmental safeguards, particularly on potential human rights impacts.


Accion Venture Lab, L.P. - USD 5 mln equity

Accion Venture Lab (“AVL”) is a fintech venture capital fund, part of Accion International. AVL makes seed and early stage venture capital investments in fintech companies that employ business models to enhance financial inclusion for the underbanked and unbanked populations in emerging markets globally.


ACTB Savings and Loans Ltd - LCY-equivalent USD 1.5 mln loan

ACTB Savings and Loans Limited is one of the largest regulated microfinance institutions in Sierra Leone. ACTB offers a broad range of products to the micro and SME segment. They aim to support economic growth and reduce inequalities by providing financial solutions to the people and communities in Sierra Leone that are regularly excluded. FMO is the first DFI to support ACTB.


Advans S.A. SICAR - EUR 1.7 mln equity

Advans SA is a venture capital investment company. Their mission is to build a network of microfinance institutions in developing and emerging countries to cater to the financial needs of micro, small, and medium sized enterprises, which have limited or no access to formal banking services.


Agora Microfinance Zambia Limited - LCY-equivalent USD 2.5 mln loan

Agora Microfinance Zambia is a microfinance institution dedicated to serving low-income, rural households in Zambia. The funds will be used for on-lending to small farmers and small entrepreneurs, majority of whom are women.


Cathay AfricInvest Innovation Fund LLC - EUR 4.4 mln equity

AfricInvest in affiliation with Cathay Innovation launched their first pan-African Innovation Fund. This partnership capitalizes on the pan-African presence of AfricInvest teams and their in-depth knowledge of the entrepreneurial networks across Africa, as well as the experience and depth of Cathay Innovation's global platform that connects the several large technological ecosystems.


Compagnie Financiere Africaine ("COFINA") Senegal - EUR 5 mln loan

COFINA Senegal is a young microfinance institution providing financial products and services customized for MSMEs whose needs are too large for smaller MFIs and whose structure is too informal or risky for commercial banks, thereby targeting the “missing-middle”.


Dawn Myanmar Microfinance Pte - EUR 1.1 mln equity

Dawn Microfinance Company is one of Myanmar's leading microfinance institutions serving female entrepreneurs. MASSIF has been an equity investor in Early Dawn since 2014 and also provided a first-time loan to the entity in 2016.


Dopay International Holdings Ltd - EUR 1 mln loan

Dopay International Holdings Ltd. offers Egyptian SMEs a digital payroll platform that helps removing cash from their operations and improves payroll payment efficiency. FMO aims to support Dopay in growing its Egyptian activities and replicating the business in other MENA markets as well as further business development.


Financiera FAMA S.A. - LCY-equivalent EUR 4.5 mln loan

Financiera FAMA is the second largest microfinance institution (MFI) in Nicaragua. FAMA was founded by ten entrepreneurs with the aim of establishing and/or improving access to finance for micro-entrepreneurs in Nicaragua's urban areas.


Financiera FDL S.A. - USD 3 mln loan

Financiera FDL is the largest microfinance institution (MFI) in Nicaragua. FDL was founded with the aim of establishing and/or improving access to finance for micro-entrepreneurs in Nicaragua's rural areas. This loan will be used to continue funding clients in underserved areas of Nicaragua.


First Microfinance Company - LCY-equivalent USD 0.7 mln loan

First Microfinance Company Egypt (FMF-E) is a non-profit MFI in Egypt. Established in 2005 as an NGO by Aga Khan Association for Microfinance (AKAM), the MFI transformed from an NGO to a company at the end of 2018. FMF-E focuses on rural clients in Egypt, particularly youth and women (app. 60% of loan portfolio).


Grofin SGB Fund Limited Partnerships - USD 5 mln loan

GroFin is a private development finance institution specialized in financing and supporting small and growing businesses across Africa and the Middle East by combining medium-term loan capital and value-added business support. The funding will be fully used to finance women owned SMEs.


Jordan Micro Finance Company Ltd - JOD 0.9 mln risk sharing facility

Tamweelcom is the 2nd largest MFI in Jordan. Its mission is to improve the economic productivity in Jordan, by providing a variety of responsible financial solutions to licensed, semi-licensed, and non-licensed micro and small businesses, which represent a large majority of economic activities. One of its target groups are youth and women entrepreneurs, which they expanded to Syrian migrant entrepreneurs.


Liwwa Inc - USD 2.1 mln equity

Liwwa is a technology enabled SME-lending company with proprietary marketplace, operational in Jordan. Liwwa fulfils the working capital need of un(der)served SMEs by funding the purchase of trade goods and fixed assets based on bank statement, discounting of invoices and working capital based on proven sales.


Maha Agriculture Public Co, Ltd - LCY-equivalent USD 3 mln loan

Maha Agriculture Microfinance is a young microfinance institution, focused on agriculture in rural Myanmar. The USD 3mln in local currency equivalent will support Maha in reaching out to its farmers and small business owners in rural Myanmar. With this funding Maha can realize its growth ambitions in a challenging market where funding is scarce.


Mercapital de Nicaragua S.A. - USD 5 mln loan

Mercapital de Nicaragua S.A. (Mercapital) is the financial arm of Mercon Coffee Group (MCG) in Nicaragua. The funds will be utilized to build a portfolio with long- and short-term loans to Arabica and Robusta coffee farmers for purposes such as farm renovation & new plantings, to cover labour costs and farm inputs and will strengthen the capital position of Mercapital.


MF Banka a.d. Banja Luka - USD 0.5 mln equity

MF Banka is a specialized SME bank in Bosnia and Herzegovina operating just above the MFI-segment. Compared to MFIs, they can offer the whole range of banking services including deposits. This is a pro rata capital increase.


Nomisma Mobile Solutions Pvt. Ltd. - INR 70 mln equity

Nomisma Mobile Solutions Private Limited (“FtCash”) is a fintech company based in Mumbai. FtCash offers micro, small and medium sized (MSME) merchants payment solutions and access to financial services by underwriting loans based on digital payments data and collecting them from card payments.


Sajida Foundation - USD 7.5 mln loan

Sajida aims to improve the quality of life in the communities through sustainable and effective intervention in Bangladesh. Apart from microfinance programs, Sajida also offers a vast array of social development programs. FMO's long term financing will enhance the balance sheet of the institution through diversified and stable funding.


The First Microfinancebank Afghanistan - LCY-equivalent EUR 3.5 mln loan

FMFB-A is the largest MFI and among the top 3 commercial banks in Afghanistan. FMFB-A contributes to poverty alleviation and economic development through the provision of sustainable financial services to micro and small business and househoulds. In 2016, FMFB-A introduced the first female branch in Afghanistan providing financial services to women.


Thitsar Ooyin Company Limited - LCY-equivalent USD 1 mln loan

Thitsar Ooyin is a socially-driven microfinance institution in Myanmar. It is currently active in some of the most isolated regions of Myanmar, providing microloans primarily to women, with a particular focus on rural areas. The MFI uses group-lending methodology, but it also provides individual loans to previously succesful group borrowers. Its model makes it possible to build a strong client base in difficult circumstances, thereby creating a significant impact on rural people's livelihoods. This loan will support the institution in its future loan growth plans.


Validus Investment Holdings Pte. Ltd. - USD 5 mln equity

Validus Holdings Pte. Ltd. operates as a Peer-to-Peer lending platform that connects SME borrowers looking to fund their short-term working capital requirements with accredited and institutional investors wanting to invest in higher yielding loan portfolio. The main funding objective is to support the growth of Validus in Indonesia which will allow it to take its SME Finance product in Southeast Asia.