Grameen Crédit Agricole Microfinance Loans $1.2m to Kenyan Juhudi Kilimo, Uganda Microcredit Foundation (UMF), Uganda’s Encot

Tuesday, January 20, 2015

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following three loans: (1) EUR 482,000 (USD 555,000) over a two-year period to to Juhudi Kilimo, a for-profit provider of microloans and microinsurance in Kenya; (2) EUR 293,000 (USD 339,000) over a three-year period to Uganda Microcredit Foundation (UMF), a microfinance institution offering financial services to “economically active” Ugandans; and (3) EUR 257,000 (USD 297,000) over a three-year period to Encont, a provider of microloans to rural enterprises in Uganda [1].

As of the quarter ending June 2014, Juhudi Kilimo reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 9.4 million, a gross loan portfolio of USD 6.6 million outstanding to approximately 18,000 borrowers, return on assets (ROA) of -14.47 percent and a return on equity (ROE) of -89.39 percent. Juhudi does not accept deposits. Juhudi Kilimo is a for-profit Kenyan microlender that started operations in 2004 within the Kenya Rural Enterprise Program (K-Rep) Development Agency (KDA), a nonprofit microfinance development organization in Kenya.

UMF serves 3,811 borrowers, but financial data on the organization are not available.

As of 2013, Encot reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 762,000 and a gross loan portfolio of USD 625,000 outstanding to approximately 3,770 borrowers, return on assets (ROA) of 12.53 percent and a return on equity (ROE) of 21.44 percent. Encot does not accept deposits.

As of December 2013, Crédit Agricole Microfinance Foundation reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.

Source: MicroCapital (link opens in a new window)

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financial services, lending, microfinance, microinsurance