Lazika Capital strengthens partnership with the EMF Microfinance fund, advised by Enabling Qapital, with a new USD 1 million long-term loan to support the micro entrepreneurs in Georgia.
Microfinance institutions have a crucial role at a time when the COVID-19 crisis severely hits the economy in emerging markets. The new investment from Enabling Qapital is a recognition of Lazika’s strong resilience in overcoming the difficult crisis (as proved several times during its 20-year history of operations) and a demonstration of the strong and impactful partnership between the institutions.
About Lazika Capital
JSC Lazika Capital was founded by Oxfam GB in 2000 to facilitate the access for low and middle income entrepreneurs to financial services adapted to their needs. Since becoming a separate, non-bank financial institution in 2007, Lazika has been among the leaders in the microfinance sector, maintaining its mission to empower low-income entrepreneurs in rural areas with access to financial services and promote economic development in Georgia.
Headquartered in Zugdidi, Lazika is presented with 18 branches in the West Georgia. 100% of Lazika’s portfolio consists of loans disbursed to various businesses and income generating activities, 51% out of which are concentrated on agricultural sector. As of December 31, 2020, Lazika Capital has a loan portfolio of $16.5 million serving over 13,900 clients, represented by 51% of women and 76% of rural micro and SME entrepreneurs.
Lazika has a long track record of successful partnership with international investors since 2007. Currently Lazika is funded by the leading impact investment funds, such as: BlueOrchard, Bank im Bistum Essen, Enabling Qapital, Grameen Credit Agricole Microfinance Foundation, Incofin, MCE Social Capital, responsAbility, Symbiotics, Triple Jump and others.
About Enabling Qapital
Enabling Qapital Ltd. (EQ) is a Swiss Impact Investment Advisory Company with strong ties in the impact investment sector, deep expertise in finance, and a proven investment management track record. Enabling Qapital has built an innovative, state-of-the-art approach to investing with impact. By joining forces, the Founding Partners have combined a unique set of skills that combine to a 100+ year successful track record. EQ is the exclusive advisor to the Enabling Microfinance Fund (EMF).
Enabling Qapital has a global footprint with teams based in Switzerland, Liechtenstein, Africa, Central Asia, East Asia and Latin America. The key strength of EQ’s business model is its people – combining a local presence in the regions where they work with experienced Investment Officers who originate, execute and monitor impact investments.
About EMF Microfinance Fund
The EMF Microfinance Fund was founded in 2008 as an instrument to catalyze access to capital where it is needed most and to promote financial inclusion to people in developing economies currently overlooked by the financial system. People looking for opportunities, for access to small loans, for skills and the formalisation of their work environment.
The aim of the fund is to support promising, responsible, profitable and sustainable Micro, Small and Medium Enterprises, financing Intermediaries that focus on achieving social impact.
