2016. Q1 Portfolio Company Updates
In Latin America, our rural MFI based in Ecuador is now working with “Servipagos”, a money transfer and payment company that offers basic payment services (water, power, phone bills etc.) for clients in rural areas.
In Mexico, our education finance company disbursed MXN 82M (USD 4.7M) in student loans, and our affordable housing company just signed a contract for 200 new homes.
In Ecuador, our sustainable food company increased its quarterly sales by 21% and developed a new product line of healthy teas for young mothers.
In Africa, new loan of USD 500K to finance the expansion of a solar company into Rwanda, which sold 700+ solar systems in 2016.Q1.
After the discontinuation of their 1st product, our health micro-insurance company is developing a collaboration with a leading Kenyan bank to provide third-party insurance administration services in 2016, but we’ve impaired loan interests until they start generating revenues again.
Our agriculture company in Kenya secured a contract with the leading retailer in East Africa, and saw its quarter-on-quarter sales increase by 33%.
One of our agriculture companies in Uganda successfully completed their first harvest.