35e Midi de la microfinance et de l'inclusion financière
Over a period of ten years, investments in microfinance have increased from a few million dollars to over 10 billion dollars’ worth of assets managed by the private sector. It has to be said that the financial markets are currently being disrupted by an abundance of liquidity, which is reducing bond yields. In this context, investing in microfinance becomes particularly attractive since Microfinance Investment Vehicles (MIV) provide a decent return and, in particular, represent added social value. Today, more than 40% of investments in MFIs are made through MIVs. In Luxembourg alone there are more than 40 different MIVs, which represents close to 50% of all microfinance assets!
The speakers at 35th Midi (Lunchtime Conference): Kaspar Wansleben, from the Luxembourg Microfinance and Development Fund and Martin Heimes, from ResponsAbility, one of the leading microfinance funds, have presented the current market trends, including the challenges to be overcome and the opportunities to be seized.
The debate was moderated by Arnaud Gillin from Innpact, and concluded by Sarah Canetti from ADA.
The 35th edition of the Midi de la microfinance et de l’inclusion financière was organized with the support of the Directorate for Development Cooperation and Humanitarian Affairs, the InFiNe.lu network, and in collaboration with the Banque de Luxembourg.
Martin, graduate in economics and social anthropology, has extensive experience in managing microfinance funds, acquired by working for the European Fund for Southeast Europe (Eastern Europe) and for Jaida Microfinance (Morocco). He subsequently worked for two years at headquarters of ResponsAbility in Zurich, specifically in the department of Equity Investments.
Currently, Martin coordinates the activities of investment debt of local ResponsAbility offices. In addition, he is responsible of debt investment and due diligence for financial institutions and for processes and tool development within ResponsAbility.
Kaspar Wansleben is the Managing Director of LMDF. Before joining LMDF, Kaspar has been involved in microfinance since 2006 as a member of the credit committee of the finance program of MFIs: LUXMINT, managed by ADA. He also worked at the Intenational Labour Organisation (2002) and at PlanetRating (2004). Kaspar is a visiting lecturer at the University of Luxembourg on social entrepreneurship and a board member of MFX Solutions Inc, the provider of currency risk solutions to the microfinance sector.
Kaspar Wansleben is chartered accountant and joined KPMG in 2005 where he was specialized during 6 years in the industrial and financial sectors as advisor in finance and auditor. He graduated in Business and Finance from the Euromed in Marseille and the University of Bremen. He is of German nationality and has lived in many Asian countries.
Arnaud Gillin is Partner and co-founder of Innpact which provides services to impact finance projects initiators from Development Finance institutions, Government or Investment Banks to specialised impact advisors, foundations, networks or not-for-profits.
Arnaud is leading the fund setup services including feasibility analysis, definition of investment strategies, market studies, financial modelling and operational and legal implementation. With over 15 funding structures designed in Luxembourg, Mauritius, Singapore, Pakistan or Morocco, Arnaud has developed a strong expertise in the structuring of impact investment funds which account today for more than USD 4bn invested in sectors such as microfinance, SME finance, climate change, energy efficiency, education, housing, agriculture, biodiversity or social entrepreneurship.
With fifteen years of experience in the financial services sector, prior to founding Innpact, Arnaud worked as consultant in financial services and investment funds with Accenture and as risk manager and project manager at the Banque de Luxembourg. He holds a MSc. in Management from the Louvain School of Management in Belgium and Master in Microfinance from the Solvay Business School, Brussels.
Sarah has 8 years of working experience in Inclusive Finance. She is currently head of investments within ADA, managing the portfolio of a Luxembourg investment fund “Luxembourg Microfinance and Development Fund”.
Previously, Sarah was Head of Strategic Planning at Microcred, an investment company specialized in private equity in Microfinance. During the 5 years she spent at this company, she held several middle management positions in its Greenfields in Latin America and Africa. Prior to that, Sarah worked in the fields of development and microfinance in South Africa, Uganda, Peru and France.
Sarah holds a Master in Finance & Management from the French business school : Ecole Supérieure de Commerce et Développement 3A. Sarah lived abroad for 5 years, both in Africa and Latin America.