SHAREHOLDERS
AfriCap is privileged to have created enduring partnerships with some of the world's leading organizations. We benefit through a strong shareholder group with unparalleled experience in both microfinance and the private sector. Besides unsurpassed expertise and invaluable understanding, AfriCap's investors share a far greater characteristic: dedication to the alleviation of poverty in the world's most stricken communities. AfriCap's crowning achievements are possible through this group of esteemed organizations committed to the development of struggling economies and to taking corporate social responsibility to the next level.
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ACCION International specializes in the development of sustainable microfinance institutions (MFIs) capable of attaining scale and reaching hundreds of thousands, if not millions, of clients. In order to surmount industry bottlenecks and achieve microfinance breakthroughs, ACCION pairs investment with strategic consulting and technical assistance. This unique combination of services positions ACCION and its partners at the forefront of financial services for the poor. In 2007, ACCION invested in the recapitalization of AfriCap through its Gateway Microfinance Investment Vehicles Fund. ACCION, together with Calmeadow, was a founding investor of Africap in 2001 and is pleased to participate in this expansion of the Fund’s activities. ACCION and Calmeadow will share a Board seat enabling the non-profit community to maintain a voice and governance presence on AfriCap’s Board of Directors.
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AfriCap Sweden AB is a private investment company sponsored by Sida and exists solely to invest in AfriCap. The AfriCap Sweden share holding in AfriCap is likely to be transferred to Nordic Microcap during 2008.
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Commercial and sustainable refinancing of microfinance institutions worldwide BlueOrchard's mission is to promote private investments in enterprises that contribute to sustainable development of emerging economies by supporting micro-entrepreneurs. Our actions are grounded in the conviction that development must be beneficial to all its stakeholders in order to be sustainable.
The global leader in private funds for microfinance
BlueOrchard's proven track record has convinced an ever-growing number of investors to choose the quality and profitability of a win-win investment: they earn a stable and competitive financial return on their investments while delivering effective social impact in emerging markets by encouraging entrepreneurship at the micro level.
A bridge for investors to microfinance
BlueOrchard manages a comprehensive package of services and products for investors who wish to engage in the microfinance sector. It performs the initial identification and examination of credible microfinance institutions (MFIs) world wide, and pursues the monitoring of their activities and performance once a relationship has been established. Creating value for our partners through solid relationships BlueOrchard is committed to building long-term relationships with microfinance institutions and all its partners, by sharing information, knowledge and risks, and by jointly contributing to the development of the microfinance sector. By fostering mutual trust, listening actively and constantly interacting with all our partners, we are able to successfully tailor products and services to their needs.
Some fact and figures
BlueOrchard presently works with 107 microfinance institutions in 36 countries. It has offices in Switzerland, Peru and the United States of America. It manages a total of USD 711 million of assets coming from private and institutional investors or multilateral organization. It manages several microfinance investment funds and closed three groundbreaking Collateralized Debt Obligations in recent years.
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Calmeadow is a Canadian Registered Charity founded on the assumption that providing access to affordable, responsive and sustainable financial services to low income self-employed people in underdeveloped regions of the world can make a positive and lasting contribution to their economic and social well being. Calmeadow supports through investments and grants, worthwhile initiatives that advance the development of the microfinance sector, specifically those that facilitate the direct involvement of the commercial sector. Calmeadow, the Sponsor and initially the largest investor in AfriCap as well as owner of the Management Company operating the Fund and its sister Technical Assistance Facility, continues today to be a significant investor and to contribute to the Governance of the Company though its participation in the board of directors.
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For over 12 years, Calvert Social Investment Foundation, a nonprofit 501(c)(3) organization, has been working to make community investment a safe and logical option for all investors seeking to make a positive social impact. To make community investment accessible to a wider audience, Calvert Foundation has removed critical barriers by creating investment products that blend both financial and social returns. With more than $170 million in assets, Calvert Foundation focuses on using investment capital, rather than conventional philanthropy, to create a sustainable, scalable model that enables nonprofit organizations, microfinance institutions and social enterprises to address critical social problems.
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European Investment Bank
www.eib.org
The European Investment Bank, was created by the Treaty of Rome in 1958, as the long-term lending bank of the European Union. The task of the Bank is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States. The EIB raises substantial volumes of funds on the capital markets, which it lends on favorable terms to projects furthering EU policy objectives. The EIB continuously adapts its activity to developments in EU policies.
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Finnfund is a Finnish development finance company that provides long-term risk capital for profitable projects in developing countries and transition economies outside the EU. We finance private projects that involve a Finnish interest. Apart from co-investing with Finnish companies Finnfund also promotes the development of the financial
sector in developing countries by investing in the microfinance sector - such as AfriCap.
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FMO's core business is to furnish long-term financing to private companies and financial institutions in Eastern Europe, Asia, Latin America and Africa. FMO makes use of financial products such as (subordinated) loans, mezzanine and equity investments and are able to provide them in local currency and/or in combination with capacity development. The lending and guarantee operations include project and housing finance, corporate loans and lines of credit to financial institutions through which SMEs are also reached.
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Grayghost is connecting private investors with microfinance. By sharing investment experience, creating vehicles, and testing investment and divestment models, Grayghost is demonstrating to investors the viability of microfinance as an investment option. For Gray Ghost, microfinance offers a unique opportunity to align and integrate personal values with financial goals.
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International Finance Corporation
www.ifc.org
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC's vision is that underprivileged people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries.
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Nordic Microcap Investment AB is a private investment company investing in Microfinance. The shareholders are institutions, organizations and individuals that are primarily from Sweden. Nordic Microcap is a 12,4% shareholder in AfriCap.
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The Norwegian Investment Fund for Developing Countries (Norfund) was created in 1997 to contribute, through investment capital, loans and guarantees, to the development of profitable and sustainable business activities in developing countries. Norfund's objective is to contribute risk capital for investment as well as knowledge in order to enhance value creation in the private sector. Its attention is focused on those countries that have made the least development progress, and where its capital will have the biggest effect. Norfund's operations are divided into Direct Investment, Financial Institutions and Funds.
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Swedfund offers risk capital and competence for investment in Africa, Asia, Latin America and Eastern Europe (non-EU members). Our vision is to contribute to the development of profitable companies and thereby stimulate sustainable economic development in the countries in which we invest. Swedfund has been an investor in AfriCap since 2007.
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The Hivos-Triodos Fund Foundation, founded in 1994, is a joint initiative of the Humanist Institute for Development Cooperation (Hivos) and Triodos Bank. With this Fund the two organizations make it possible for Dutch people to become involved, through special savings accounts and by giving guarantees, in microfinance activities worldwide. The Hivos-Triodos Fund is managed by Triodos Investment Management BV and is supervised by a Supervisory Board, appointed by Hivos. Total portfolio at 31 December 2007: EUR 44 million.
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