Finance Proposal

IMF BAOBAB RDC S.A. - $5 million Debt

IMF Baobab RDC S.A. aims to broaden access to funding among those underserved by tranditional banks. The microfinance instuttion proves micro-loans and SME loans up to USD200K to businesses in urban areas with individual liability. MASSIF funds will be used for on-lending to micro and SME companies.

Kashf Foundation - $15 million Debt

Kashf Foundation is a Pakistani microfinance institution established in 1996 targeting women micro-entrepreneurs to get access to finance. Kashf aims to bridge the financing gap for women by contributing both on the supply and the demand side of financing women owned micro enterprises. Furthermore, Kashf has 14% of its portfolio in small-scale agri and plans to expand to rural areas, thereby providing access to underserved micro enterprises in Pakistan.

Dashen Bank - $10 million Debt

Dashen Bank is the oldest and second largest privately owned bank in Ethiopia. Dashen is a universal bank, serving more than 3.9 million customers across the country, with over 800 branches and more than 10.000 members of staff. The bank’s portfolio is focused on the corporate and SME banking in the agriculture, trade and domestic services industries. This pipeline investment pertains to an 'uncommitted tranche' of our current exposure with Dashen.

Dvara KGFS - $5 million Debt

Dvara KGFS is a non-deposit taking NBFC headquartered in Chennai, India. Dvara KGFS aims to maximise the financial wellbeing of individuals and small enterprises in India by providing access to financial services. It uses a customer-centric, technology-enabled business strategy to provide financial products to women and microenterprises in rural /semi-rural areas. MASSIF funding will be used to grow Dvara's microfinance portfolio and optimize its performance. The debt investment is proposed as subordinated debt, which is considered Tier 2 capital.

Total

$35 million

Clearance in Principal 

Greenland Fedha - $10 million Debt

Greenland Fedha is a non-deposit taking unlicensed microfinance institution in Kenya, fully owned by Kenya Tea Development Agency, a leading private tea management agency managing 54 tea factories in Kenya’s small-scale tea sub-sector. Established in 2009, GFL provides affordable credit services to tea farmers associated with KTDA Holdings, benefiting over 300,000 farmers with loans for school fees, farm inputs, tea farming improvements, and microbusiness support. FMO funding will contribute to supporting financing of small-scale tea farmers.

WIC Capital Fund II - $3 million Equity

Women's Investment Club Senegal (WIC Senegal) is a non-profit woman-led initiative established in 2016 by four Senegalese female entrepreneurs whose objective is to promote women’s participation in economic growth of Africa through investing in Women-led MSMEs (WMSMEs)

Lendable Inc. - $10 million Equity

Lendable Inc. is the first debt platform designed specifically for African alternative lenders – non-banking, asset backed finance providers operating in microfinance, and a range of Pay-as-you-go (PayGo) services including energy.

Total

$23 million