"Emerging MFIs" are microfinance institutions that have good prospects for attaining financial sustainability within the next several years. These institutions are generally smaller and frequently newer organizations that are growing rapidly, providing products and services in particularly challenging regions or difficult market segments. They often pilot or introduce new or innovative products, services, and distribution channels. Frequently these institutions are transforming from non-governmental organization ("NGO") status and have not yet attracted significant investment from domestic or international capital markets or worked closely with international institutional investors.
Focus: Sub-Saharan Africa and South- and South East Asia
The Fund invests in Sub-Saharan Africa and South- and South East Asia, focusing on specific countries in order to develop and contribute in the most effective way. The focus countries for the Fund are Cameroon, Ghana, Kenya, Madagascar, Mozambique, Senegal, Tanzania, Uganda, Zambia, India and Indonesia. The Fund may also consider investments outside of these focus countries.
In-depth knowledge of the market is developed based on NMI’s experienced management team and tools such as Technical Assistance to focus on balancing long-term positive social and economic impact with sound financial returns.
Fund III may provide equity or debt to emerging MFIs, with a general orientation toward equity investments. With its equity investments, the Fund will take substantial minority positions and be an active investor.