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.
Zurich, 25 September 2017 — Two energy funds managed by responsAbility and Mobisol, a leading player in decentralized solar electrification, have signed an off-balance-sheet debt deal. This cooperation will fuel the continued growth of Mobisol in Tanzania and provide financing for electrifying more than 15,000 households and small businesses. The deal is one of the largest special purpose vehicle debt transaction structures in the off-grid solar sector.
Zurich, 04 September 2017 — Two responsAbility-managed investment vehicles have jointly taken a 9% stake in Center-Invest, a leading local bank headquartered in Rostov-on-Don, in the southern Russian Federation. The bank provides universal banking services to small to medium-sized companies as well as retail clients.
Zurich, 16 August 2017 — Two new Nordic equity investments will support African countries to increase their clean energy production. The Nordic Development Fund and Norfund have approved a total of USD 19 million of equity investments in a responsAbility-managed Energy Holding focusing on Sub-Saharan African countries. Other investors in the company are Germany’s KfW and Switzerland’s responsAbility Investments AG.
Zurich, 15 August 2017 — The responsAbility-managed energy fund that focuses on climate financing in developing countries is further expanding its portfolio. A newly constructed solar photovoltaic farm in Rosh Pinah, Namibia, has just gone operational. By feeding 13.5 GWh of electricity into the national grid on an annual basis, the plant will help to enhance energy security and reduce Namibia’s dependence on electricity imports.