ProCredit Holding AG & Co. KGaA
BIO has invested € 3 M in equity in Procredit Holding, which supports SME banks in Eastern Europe and Ecuador.
Amount
€ 3,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Financial inclusion
Beneficiary locations
Investment field
Financial Institutions
Activity
Organisation
ProCredit Holding AG & Co. KGaA
Website
https://procredit-holding.com/Domicile
ProCredit Holding is an investment company that supports SME banks in Eastern Europe and Ecuador. Its mission is to provide financial services to SMEs and low-income individuals which are excluded from the formal banking sector.
Development impacts
-
Local economic growth
Procredit invests in local microfinance institutions. In addition, MFIs provide small local entrepreneurs with a stable and relatively cheap source of finance. The target sector is small and micro enterprises (maximum 10 persons employed).
-
Financial inclusion
MFIs also offer other financial services to the local low-income population, such as the possibility of opening current accounts or term deposits, or making national and international payments. Around 180,000 clients currently use these services.
Made possible through this investment
NovoBanco
Mozambique
Formed in 1999, NovoBanco has 4 branches.
Confia
Nicaragua
Confia was formed in early 2000 from the merger between the private financial institution financiera, Interfin, and the NGO, Fundación Chispa.
Micro Credit National
MCN is a Haitian MFI
Financiera Caja Los Andes
Bolivia
Caja Los Andes was formed from the NGO ProCredito in 1995. it has 13 branches and a staff of over 300.
Sakaman Savings & Loans Compan
Ghana
SSLC began operations in June 2001.
Micro Enterprise Bank
Philippines
MEB began operations in 2001 in Davao.
Sociedad Financiera Ecuatorial
Ecuador
SFE began operations on 2001.
Financiera Calpia
El Salvador
The Financiera Calpia dates back to 1995, when it became the first formal microfinance institution in El Salvador.
View more of our investments in this region
Investment Companies & Funds
AfricInvest SME Fund
10,000,000.00
Algeria, Egypt, Kenya, Morocco, Nigeria
09/12/2024
Equity