Triple Jump with Desjardins in Africa

Nov 2011
Amsterdam, the Netherlands, November, 09 2011 - Triple Jump established a long-term partnership with Développement international Desjardins (DID) by signing agreements for three equity investments this week. DID is part of theDesjardins Group, Canada's leading cooperative financial group.

Through DID, Desjardins actively supports microfinance organizations in Africa, Asia, Latin America and Europe with equity, technical assistance and hands-on management.

DID invited Triple Jump, through the ASN-Novib Microkredietfonds, to become a shareholder in two African microfinance institutions (MFIs) and one Latin American MFI operated by DID. Anne Gaboury, President and Chief Executive Officer and Claude Royer, Vice-president Investments and management contracts of DID, visited Triple Jump’s Head Office in Amsterdam this week to formalize the new partnership.

Mark van Doesburgh, Managing Director of Triple Jump, sees cooperation with strong networks such as DID as the best way to increase the ASN-Novib Microkredietfonds presence in Africa. With its experience, DID contributes to a significant reduction of the risks which normally accompany an equity investment in Africa.

Mrs Gaboury of DID is very happy with this new cooperation. She says that this partnership will create added value for both investors and the MFIs being financed, with a final result of improving access to financial services for the disadvantaged in developing countries.

On behalf of ASN-Novib Microkredietfonds, Triple Jump will invest in MFIs operated by DID in Tanzania, Zambia and Panama. The ones in Tanzania and Zambia are the first equity investments of Triple Jump in Africa. Claude Royer, of DID, explains that these MFIs are specifically dedicated to supporting small entrepreneurs, whose businesses are the main source of jobs in their countries and play a central role in community development.

Triple Jump already has equity investments in Latin America and Asia, and is now speeding up the pace. ‘Equity is becoming more and more important for Triple Jump because of its real impact on the development of microfinance institutions’, says Erik Geurts, Senior Equity Investment Officer at Triple Jump. Triple Jump currently manages equity stakes in Bai Tushum in Kyrgyzstan, in Hatha Kaksekar Limited in Cambodia, in IMON in Tajikistan, in Al Sol in Mexico and in Edpyme Solidaridad in Peru.

Triple Jump is one of the 10 leading microfinance fund managers in the world. Currently it has investments with 165 microfinance institutions in nearly 60 countries in Africa, Asia, Latin-America and Europe, for a total invested capital of over EUR 240 million. Triple Jump reaches half a million micro entrepreneurs, of which over 75 per cent are women.

Source : Triple Jump

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