Zurich, 15 January 2018 — A responsAbility-managed private equity vehicle focusing on agriculture and food has completed its first investment and taken a significant minority stake in Samunnati, an Indian Non Banking Financial Company. Using a unique cash-flow-based lending technology for value chains, Samunnati is providing affordable quality financial services for small and marginal farmers and small and medium-sized businesses active across the agriculture value chain.
Zurich, 14 December 2017 — A responsAbility-managed energy company, Norfund and Vineyard have teamed up to incorporate New Africa Power. The new energy joint venture plans to develop a 65 MW portfolio of small-scale run-of-the-river hydropower projects in Zambia.
Zurich, 6 December, 2017 — Development investments specialist responsAbility is dedicating its latest publication to the topic of green lending in developing countries, analysing the opportunity, risks and entry barriers for financial institutions on developing a loan product for energy efficiency and renewable energy.
Zurich, 30 November 2017 — A responsAbility-managed energy fund focusing on facilitating energy access participates in a large multi-currency syndicated loan to provide scalable financing to West African solar company PEG Africa. The USD 13.5 m in funding, provided through a combination of debt and Series B equity financing, will be used to accelerate growth in Ghana and Ivory Coast where PEG Africa targets to reach 500,000 people.
Zurich, 21 November 2017 — The latest edition of responsAbility’s annual Micro and SME Finance Market Outlook highlights the potential of debt investments in micro and SME finance against the background of macroeconomic trends. An analysis of risk-return profiles shows that spreads for investments in microfinance portfolios are in line with or higher than those of securities rated Ba3 by Moody’s. This rating system and systematic impact measurement provide investors with transparency on micro and SME finance portfolios.
Zurich and Singapore, 6 November 2017 — A responsAbility-managed climate fund and Singapore-based solar energy provider Cleantech Solar have signed an agreement for a USD 20m long-term corporate loan to finance new pan-Asia rooftop solar power plants.
Zurich, 19 October 2017 — A responsAbility-managed energy fund and Sri Lanka’s Pan Asia Bank have closed a new USD 13 m facility agreement. The seven year senior unsecured loan brings the total funding agreement to USD 33 m, which will be utilized to promote green lending initiatives in Sri Lanka. The fund, which focuses on climate financing, has been a partner of Pan Asia Bank in its efforts on mitigating climate change since 2013.
Leading off-grid solar company SolarNow and investors SunFunder, Oikocredit and responsAbility Investments announce a new syndicated receivables financing facility amounting to USD 6 million. Structured as a bankruptcy-remote special purpose vehicle, the facility will enable SolarNow to deploy solar home systems to a broad section of Uganda’s off-grid population by offeri
Zurich, 11 October 2017 — A responsAbility-managed private equity vehicle has completed the acquisition of a 4.99% shareholding in Utkarsh Small Finance Bank. Focusing on rural and semi-urban areas, the non-listed Varanasi-based company operates in 10 Indian states, with a strong presence in the large states of Uttar Pradesh, Bihar, Maharashtra and Madhya Pradesh.
Zurich and Cairo, 3 October 2017 — A responsAbility-managed private equity company has invested in Fawry, the leading mobile payments platform in Egypt. Over the next few years, mobile payments are expected to generalize in the country and offer attractive growth opportunities for operators in the field. Through the capital increase, Fawry aims to fast-track the expansion of cashless payments and financial inclusion by leveraging their mobile platform and distribution network.