“Microfinance is an attractive asset class”
Grameen-Jameel, a social business that serves the Arab microfinance industry, and BlueOrchard, a microfinance investment manager, are co-hosting the region’s first Arab Microfinance Investment Symposium on 30 November 2008 in Dubai.
BlueOrchard accueille un nouveau directeur des finances
BlueOrchard Finance S.A. annonce aujourd’hui l’arrivée d’un nouveau directeur des finances, M Geert Roosen, qui prendra la tête des activités financières et administratives et complètera l’équipe de direction de la société.
BlueOrchard welcomes launch of Sustainable Finance Geneva
Sustainable Finance Geneva - an association of Geneva-based professionals with a common interest in promoting sustainable finance and responsible investment - was launched on 28.10.2008
Grameen-Jameel, a social business that serves the Arab microfinance industry, and BlueOrchard, a microfinance investment manager, are co-hosting the region’s first Arab Microfinance Investment Symposium on 30 November 2008 in Dubai.
Dubai and Geneva, 6 November 2008
Grameen-Jameel, a social business that serves the Arab microfinance industry, and BlueOrchard, a microfinance investment manager, are co-hosting the region’s firstArab Microfinance Investment Symposiumon 30 November 2008 in Dubai.
Scheduled to take place at the Emirates Towers Hotel, the Symposium will bring together investors and microfinance institutions (MFIs) from the region for the first time ever, hence demonstrating the growing importance of microfinance in the Arab World and its emergence as an attractive asset class. The latest figures reveal that the global USD 300 billion microfinance industry achieves average annual growth rates of 40% and investment returns of 25%.
Heather Henyon, General Manager, Grameen-Jameel, said “Microfinance is known to be countercyclical to the macroeconomic environment. As governments across the Arab region begin to create microfinance-friendly regulatory environments, the window for investment is opening.” Mrs Henyon is to deliver a keynote speech on “Microfinance Market and Trends in the Arab World” at the symposium.
The event is a platform for MFIs and investors to share ideas and explore opportunities in the Arab World and Pakistan.Keynote speakers and panellistsinclude Fadi Ghandour, Founder and CEO of Aramex and Chairman of one of the leading MFIs in Jordan, National Microfinance Bank; Fadi Abdul Latif Jameel, Board Director of Grameen-Jameel; Jack Lowe, President of BlueOrchard USA Inc.; Prashant Thakkar, Microfinance Business Head of Standard Chartered Bank; Royston Braganza, CEO of Grameen Capital India; and Deepak Khanna, Senior Program Manager of International Finance Corporation.
Ten microfinance institutionsare being showcased as investment opportunities and are seeking USD 500 million in debt and equity financing over the next three years. The MFI panel discussion will feature Ziad Al Refai, CEO of Tamweelcom in Jordan; Hassan Faried, Executive Director of DBACD in Egypt; Essma Ben Hamida, Executive Director of enda inter-arabe in Tunisia; and Roshaneh Zafar, President of Kashf Foundation in Pakistan. The goal is to demonstrate how microfinance is not just a safe investment vehicle that could be part of a diversified portfolio but also an asset class that is socially responsible.
“Times are tough for almost everyone right now and in the near future. Solidarity with those living in poverty will require a strong commitment and much courage,” said Jean-Pierre Klumpp, CEO of BlueOrchard Finance S.A. “There are still huge possibilities in the Arab world to support micro-entrepreneurship as only an estimated 10% of the needs for financial services for the poor are presently met.”
Grameen-Jameel
Grameen-Jameel is a social business established in 2007 as a joint venture between Grameen Foundation and Bab Rizq Jameel Limited, a subsidiary of Abdul Latif Jameel Group. The for-profit limited company alleviates poverty by supporting the creation of self-sustaining businesses in the Arab World through forming strategic partnerships with microfinance institutions and providing technical and financing support. Grameen- Jameel’s partner microfinance institutions give direct loans to uncollaterized microentrepreneurs. These entrepreneurs create jobs in their poor communities, build wealth, exit poverty and improve their standard of living and that of people around them To date, Grameen-Jameel has facilitated local currency financing of $44 million backed by $20 million in guarantees to its partners. Grameen-Jameel has reached more than 200,000 new microfinance clients through its partners in Morocco, Tunisia, Lebanon, Jordan, Egypt, Yemen, and Saudi Arabia.
BlueOrchard
BlueOrchard’s mission is to empower the poor world-wide and to improve their quality of life by promoting income-generating activities through private investments in microfinance. BlueOrchard provides innovative financial instruments and solutions for placements in microfinance, bridging the gap between capital markets and microfinance institutions. BlueOrchard generate profitable returns on investments while supporting the development of millions of promising small enterprises.
BlueOrchard accueille un nouveau directeur des finances
BlueOrchard Finance S.A. annonce aujourd’hui l’arrivée d’un nouveau directeur des finances, M Geert Roosen, qui prendra la tête des activités financières et administratives et complètera l’équipe de direction de la société.
Genève (BlueOrchard), 4 novembre 2008.
BlueOrchard Finance S.A. annonce aujourd’hui l’arrivée d’un nouveau directeur des finances, M Geert Roosen, qui prendra la tête des activités financières et administratives et complètera l’équipe de direction de la société.
De 1999 à 2008 Geert Roosen a travaillé pour McKinsey & Compagnie, Price Waterhouse Coopers, Fortis et Siemens dans diverses capacités liées à la finance et au conseil en gestion. Juste avant son entrée en fonction chez BlueOrchard, Geert Roosen était responsable du groupe de planification de la stratégie financière chez Fortis SA/NV chargé de la stratégie de la société, de la gestion du capital et de la structuration.
« BlueOrchard enrichit son équipe avec l’arrivée de Geert Roosen, un professionnel chevronné de la finance et de la gestion d’entreprise. Il augmentera nos capacités et nos contributions au secteur de la microfinance en assurant un haut niveau de gestion financière et administrative. Sa participation au processus de prise de décision sociétaire ouvrira de nouvelles perspectives et montrera des approches innovatrices à BlueOrchard mais aussi au secteur de la microfinance grâce à ses connaissances diversifiées », selon M Jean-Pierre Klumpp, directeur général de BlueOrchard Finance S.A.
Geert Roosendétient une licence en gestion d’entreprise de l’université de Chicago (USA) et un diplôme en ingénierie commerciale de l’Université catholique de Louvain (Belgique). Il est de nationalité belge avec une expérience professionnelle et personnelle internationale importante. Il est marié et a deux enfants. Sa langue maternelle et le néerlandais, il maîtrise l’anglais et le français et a de bonnes connaissances en italien et allemand.
Pour plus d’informations veuillez contacter Antonella Notari, chef de la communication, BlueOrchard Finance SA, Tél. +41 22 596 4767, courriel : antonella@blueorchard.com. Veuillez aussi consulter www.blueorchard.com
BlueOrchard welcomes launch of Sustainable Finance Geneva
Sustainable Finance Geneva - an association of Geneva-based professionals with a common interest in promoting sustainable finance and responsible investment - was launched on 28.10.2008
Geneva, October 2008
BlueOrchard salutes the creation of a new platform for the promotion of responsible and sustainable investment in Geneva.
The initiative was created by fifteen professionals specialized in socially responsible investment (SRI) for private banking, microfinance, and philanthropy, SRI research professionals, and sustainable development professionals from International organizations. Their objective is to accelerate progress, share knowledge and form an international movement for action in responsible investment.
“We started as a small group of interdisciplinary experts in finance and sustainability meeting to share knowledge and discuss best practice to advance sustainable finance practice in Geneva. We have created Sustainable Finance Geneva (SFG) to provide a space for more finance and sustainability professionals to meet. We found a need in Geneva to create a movement in favour of sustainable investment”, explains Angela de Wolff, former head of SRI at Lombard Odier Darier Hentsch, now co-founder of Conser Invest and SFG’s President.
Geneva is an internationally recognized banking centre. Geneva is also a centre for international organizations addressing global issues and sustainable development. Last not least, Geneva is one the world’s most important hubs for commercial microfinance, one of the avenues of investing towards the social and economic development of poor and marginalised people and communities in a sustainable manner.
To find out more about Sustainable Finance Geneva seewww.sfgeneva.org.
First direct investment of BlueOrchard Private Equity in India goes to Asmitha Microfin Limited
BlueOrchard Private Equity invested INR 250 million in Asmitha Microfin Limited, the fourth largest non-banking financial company in India
Geneva/Hyderabad, October, 2008
On September 30, BlueOrchard Private Equity, the private equity arm of BlueOrchard microfinance investment managers, invested INR 250 million (USD 5.3 million) and purchased a minority stake in Asmitha Microfin Limited , the fourth largest non-banking financial company in India. This will be BlueOrchard’s first equity investment deal with an Indian microfinance institution (MFI).
With the new investment, Asmitha intends to expand its capital base and to bolster its borrowing capacity in order to shore up its microfinance lending operations. The new partnership is a strategic development for BlueOrchard, which hopes to consolidate its presence in India in the coming years.
“We are very proud to have been invited by Asmitha Microfin Ltd. Promoters as their first key external stakeholder,” said Jean-Philippe de Schrevel, CEO of the Private Equity arm of BlueOrchard. “We intend to support Asmitha’s growth ambitions financially and strategically, always keeping in mind the necessary dual returns—social and financial—intrinsic to the very success of microfinance.”
Dr. Vidya Sravanthi, Chairperson and Managing Director of Asmitha, said, “it is a great moment for Asmitha, and we are pleased to partner with BlueOrchard, an institution that understands the vision and commitment of our company. We look forward to a challenging future of impacting the microfinance sector in India. While taking initiatives for future growth, Asmitha will continue in the pursuit of achieving highest standards both in operations and systems.”
BlueOrchard, the global leader in commercial asset management in microfinance, chose to partner with Asmitha Microfin Limited in order to support its development in the coming years. BlueOrchard is the first external strategic partner invited by the founders of Asmitha Microfin. The company is presently serving 850,000 clients in thirteen Indian states and has ambitious expansion strategies.
BlueOrchard Private Equity’s Indian strategy is aligned with the fund’s overall objectives: to support MFIs’ leaders in their plans for expansion at national and regional levels through organic growth and acquisition strategies. Consequently, BlueOrchard will invest in promising emerging companies complementing other portfolio investments through additional geographic coverage or different client segments. An additional fund of funds approach further consolidates local presence, market understanding, local co-investment and partnership opportunities.
Building on its team’s vast experience and in-depth market knowledge gained through the relationships established with MFIs in the past 8 years, BlueOrchard launched a private equity fund at the end of 2007. With the aim of forging long-term partnerships with MFIs world-wide, the Swiss-based advisory company acquires minority stakes in the MFIs’ capital. It assumes an active governance role within the MFIs by sharing international experience, information, networks, knowledge and by actively participating in the decision-process at board level. Through this approach, BlueOrchard strives to achieve strong tangible social returns along with market economic returns.
Additional Resources:
BlueOrchard Private Equity Fund
The BlueOrchard Private Equity Fund is a SICAV registered in Luxemburg in December 2007. It is entirely managed by its General Partner BlueOrchard Capital Sarl, Luxembourg. BlueOrchard Investments Sarl, Geneva, is the investment advisor of the General Partner. As at 1 September 2008, total assets under management of the fund were USD 111 million. The parent company, BlueOrchard Finance S.A,. is a Swiss company based in Geneva whose mission is to manage microfinance investment funds. It helps investors gain access to investment opportunities in the microfinance sector through a diversified range of products and services.
Established in 2002, Hyderabad-based Asmitha Microfin Limited is an MFI that provides collateral-free micro-loans to low-income rural women in order to generate for them self-sustaining livelihoods and incomes. Asmitha serves 850,000 clients in thirteen Indian states . As of March 31, 2008 , the MFI possessed USD 83.7 million in its gross loan portfolio and USD 104.8 in total assets. Its return on assets was 1.43 percent and its return on equity was 17.87 percent. Its total debt-equity ratio was 1015.7 percent. Forbes magazine ranked Asmitha 29th best among the top 50 MFIs in the world , and the MIX Market , the microfinance information clearinghouse, rated of the level of Asmitha’s financial disclosure as three out of five stars.
Dexia Micro-Credit Fund receives LuxFLAG microfinance investment vehicle label again
The Luxembourg Fund Labeling Agency (LuxFLAG) renewed the label delivered in 2007 to the Dexia Micro-Credit Fund.
Geneva(BlueOrchard), 24 July 2008
The Luxembourg Fund Labeling Agency (LuxFLAG) renewed the label delivered in 2007 to theDexia Micro-Credit Fund.
The Dexia Micro-Credit Fund is the oldest microfinance fund in Luxembourg, with a track record going back to 1998. It is promoted by Dexia Banque International in Luxembourg (BIL) with RBC-Dexia as custodian of the fund and Dexia Asset Management as manager of the fund for liquidities. The microfinance portfolio manager is BlueOrchard Finance S.A., a Geneva based investment manager specialising in microfinance.
The purpose of the LuxFLAG label is to promote the raising of capital in microfinance by reassuring investors that the MIV really invests in microfinance. It is not a guarantee of performance nor does it constitute a recommendation to invest.
In order to obtain the Luxflag Microfinance Label, the investment vehicle must meet a number of criteria, the principal of which are that it must:
·be subject to supervision by a national regulator;
·have a microfinance portfolio corresponding to at least 50% of total assets;
·have at least 25% of its microfinance portfolio invested in MFIs rated by a microfinance rating agency recognised by Luxflag.
The Luxflag Label is intended for MIVs which have a commercial objective; the Label is currently not granted to donor entities.
The Luxembourg Fund Labeling Agency is an independent entity whose Charter Members represent the private sector, the NGO sector and the State of Luxembourg. The Charter Members are the State of the Grand Duchy of Luxembourg;European Investment Fund (EIF - member of the European Investment Bank Group);Luxembourg Bankers’ Association (ABBL) ; Appui au Développement Autonome (ADA) ;Association of the Luxembourg Fund Industry (ALFI); Financial Technology Transfer Agency (ATTF); Luxembourg Stock Exchange.
Editorial notes
BlueOrchard Finance S.A.is a Swiss company based in Geneva whose mission is to manage microfinance investment funds. It helps investors gain access to investment opportunities in the microfinance sector through a diversified range of products and services.
To do so,
BlueOrchard grants loans to leading microfinance institutions who in turn provide micro-credits and other financial services to families and small businesses with no access to regular credit providers.
For enquiries, please contact Antonella Notari Vischer, Head of Corporate Communication,
antonella.notari@blueorchard.com
or tel. +41 22 596 47 67 (during office hours except Friday afternoons).
At LuxFLAG, please contact:Daniel Daxor Saskia Ventujol, daniel.dax@alfi.lu / saskia.ventujol@luxflag.org,tel : +352 22 30 26 – 1. More details are available on LuxFLAG’s website: www.luxflag.org. This site also contains details of eligibility criteria to obtain a label and a form that can be downloaded by entities wishing to apply for the Label.
BlueOrchard Finance S.A offsets carbon emissions for 2007 in myclimate’s Indian “electricity from biomass” project
BlueOrchard has compensated 423 tons of CO2 emissions produced in 2007 by air travel and office power consumption by contributing to an Indian project of power production from biomass run under the auspices of myclimate.
Geneva(BlueOrchard), 22 July 2008
BlueOrchard Finance S.A. has compensated 423 tons of CO2 emissions produced in 2007 by its staff’s air travel and office power consumption by contributing almost SFR 16,500 to project of power production from biomass in Bihar, India, run under the auspices of the Swiss organisation for climate protection myclimate.
“As a leader in the sustainable development world, we must strive to be coherent with our social mission at all levels. This also means taking a more active part in managing our environmental impact. Compensating our carbon footprints through a renewable-energy project facilitated by a reputable organisation like myclimate is a positive way for us to assume responsibility,” says Jack Lowe, CEO of BlueOrchard Finance S.A.
In the coming years, BlueOrchard plans to include its new satellite offices in Lima, Peru and New York, USA in the calculations of the carbon off-setting programme.
BlueOrchard Finance S.A.is a Swiss company based in Geneva whose mission is to manage microfinance investment funds. It helps investors gain access to investment opportunities in the microfinance sector through a diversified range of products and services.To do so,BlueOrchard grants loans to leading microfinance institutions who in turn provide micro-credits and other financial services to families and small businesses with no access to regular credit providers.
For enquiries, please contact Antonella Notari Vischer, Head of Corporate Communication, antonella.notari@blueorchard.com or tel. +41 22 596 47 67 (during office hours except Friday afternoons).
For further information on myclimate's projects and activities see: www.myclimate.org
BlueOrchard’s Jean-Philippe de Schrevel joins World Economic Forum’s Global Agenda Council on Philanthropy and Social Investing
The council, consisting of the 15-30 most knowledgeable and authoritative personalities in the field, will address the crucial challenges of humankind to ensure that connections between global issues are fully explored.
Geneva (BlueOrchard), 22 July 2008
Jean-Philippe de Schrevel, co-founder of BlueOrchard Finance, CEO of BlueOrchard Investments and CEO of Bamboo Finance became a member of the World Economic Forum’s Global Agenda Council on Philanthropy and Social Investing .
This council, consisting of the 15 to 30 most knowledgeable and authoritative personalities in the field, is integrated into the World Economic Forum’s Network of Global Agenda Councils addressing all the crucial challenges of humankind so as to ensure that connections between global issues are fully explored. The councils will interact through WELCOM (World Electronic COMmunity) a secure online networking platform,,which will allow continuous, secured, video-based communication among global decision-makers from all walks of life.
The Network of Global Agenda Councils will have a major impact on shaping the global agenda by monitoring and prioritizing world-wide challenges, by elaborating solutions and by being available in crisis management situations. It will also act as an advisory board to the World Economic Forum and other interested parties, such as governments and international organizations.
The Inaugural Summit on the Global Agenda will be held in Dubaifrom 7 to 9 November 2008 , in partnership with the Government of Dubai.
“The World Economic Forum’s network of Global Agenda Councils represents a transformational innovation in global governance,” said Klaus Schwab, Founder and Executive Chairman of the Forum. “The inaugural Summit on the Global Agenda in Dubai is a unique opportunity for the world’s most innovative and influential thinkers to share ideas and collaboratively develop solutions to address some of the most pressing issues on the global agenda.”
Notes to the Editors:
BlueOrchard Finance S.A.is a Swiss company based in Geneva whose mission is to manage microfinance investment funds. It helps investors gain access to investment opportunities in the microfinance sector through a diversified range of products and services.To do so,BlueOrchard grants loans to leading microfinance institutions who in turn provide micro-credits and other financial services to families and small businesses with no access to regular credit providers. As at March 31, 2008, BlueOrchard Finance S.A. managed a total loan portfolio of USD 617 million invested with more than 160 microfinance institutions (MFIs) in about 40 countries.
BlueOrchard Investmentsis managing the BlueOrchard Private Equity Fund, a new investment vehicle launched by the BlueOrchard group to make global capital investments in MFI.
Bamboo Financeis managing the Oasis Fund, a new investment vehicle making debt and equity investments in fast growth social entrepreneurs’ companies working at the sustainable delivery of essential goods and services to low income people at grassroots level in the field of energy, education, health, water access, agriculture, etc.
For enquiries, please contact Antonella Notari Vischer, Head of Corporate Communication, antonella.notari@blueorchard.com or tel. +41 22 596 47 67 (during office hours except Friday afternoons).
