The project is to extend a Mexican Peso (MXN) line of credit to continue supporting the loan portfolio growth in CEGE Capital S.A.P.I. de C.V., SOFOM, E.N.R. (“Contigo” or the “Company”). The proposed project will reach women micro-entrepreneurs in Mexico and will enhance micro lending competitiveness of the private sector and help deepening the financial sector since a high portion of the sub-borrowers served are outside the formal financial sector.
This is IFC's first investment in Contigo. Contigo is a non-bank financial institution (“Sofom”) specialized in microfinance that seeks to have a positive social impact at the base of the pyramid alongside financial returns. The Company started its operations in 2010 and achieved scale through a combination of organic growth and mergers with other MFIs. Contigo has over 180,000 clients and a total net loan portfolio of MXN 694.5 million as of September 2016.
Contigo’s ownership is comprised by strong institutional and individual shareholders with vast experience in the Mexican financial sector.
CEGE CAPITAL SAPI, de CV offers business loans to women. The company was founded in 2013 and is based in Mexico City, Mexico.
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/