MICROCAPITAL BRIEF: IFU, Finnfund, Danish Family Office Invest $8m in BOPA for Asian Microfinance

Base of Pyramid Asia (BOPA), a microfinance investment company in Singapore, recently informed MicroCapital that it has raised a total of USD 8 million in equity funding from the Investment Fund for Developing Countries (IFU), which is owned by the Danish government; the Finnish Fund for Industrial Cooperation (Finnfund), which is backed by the Finnish government; and a Danish family office. Continue reading

MICROFINANCE EVENT: The MasterCard Foundation Symposium on Financial Inclusion, $150k “Clients at the Centre” Prize; November 8-9, 2017; Accra, Ghana

Event Name: The MasterCard Foundation Symposium on Financial Inclusion

Event Date: November 8 – November 9, 2017

Event Location: Accra, Ghana

Cost: This event is open by invitation only

Summary of Event: The symposium will focus on increasing the knowledge of financial service providers regarding the financial lives of poor people in an effort to enable the providers to design and deliver products that are more closely aligned with people’s needs. Continue reading

Written by Comments Off on MICROFINANCE EVENT: The MasterCard Foundation Symposium on Financial Inclusion, $150k “Clients at the Centre” Prize; November 8-9, 2017; Accra, Ghana Posted in Africa, Events, Trends/Challenges

MICROCAPITAL BRIEF: EIB Group’s DCFTA Initiative East, InnovFin Supporting SMEs in Georgia, Moldova, the Ukraine; ProCredit Secures $56m Partial Loan Guarantee

Both arms of the EU-affiliated EIB Group, the European Investment Bank (EIB) and the European Investment Fund (EIF), are implementing two programs intended to fortify the private sectors of Georgia, Moldova and the Ukraine [1]. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: EIB Group’s DCFTA Initiative East, InnovFin Supporting SMEs in Georgia, Moldova, the Ukraine; ProCredit Secures $56m Partial Loan Guarantee Posted in Eastern Europe and Central Asia

MICROCAPITAL BRIEF: Water.org Launches WaterCredit Investment Fund 3 to Facilitate Access to Sanitation, Clean Water in Cambodia, India, Indonesia, the Philippines

WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.” Continue reading

MICROCAPITAL BRIEF: FINCA Armenia Completes $7m Dual-currency Bond Issue

FINCA Armenia, a microfinance institution based in Yerevan, recently issued bonds worth USD 4 million and AMD 1.5 billion (USD 3 million) listed on the NASDAQ OMX Armenia stock exchange. Continue reading

MICROCAPITAL BRIEF: Hedge Fund Route One Buys 0.88% Equity Stake in India’s Bharat Financial Inclusion for $15m

US-based Route One Fund I LP recently spent approximately INR 990 million (USD 15.4 million) to purchase 0.88 percent of the shares of Bharat Financial Inclusion, a for-profit non-banking microfinance institution (MFI) in India, via an open market transaction. Continue reading

MICROCAPITAL BRIEF: Sri Lankans Urge Government to Allow Microfinance Institutions to Offer Microinsurance, Access Credit Information Bureau

M M Attanayake, the president of the 71-member Lanka Microfinance Practitioners’ Association (LMFPA), recently urged policymakers to amend existing law to allow microfinance institutions (MFIs) to offer microinsurance. Continue reading

MICROCAPITAL BRIEF: AgroCenta of Ghana Wins $20k Fincluders Startup Challenge for Online Agricultural Marketplace

Ghana-based AgroCenta recently won USD 20,000 in the Fincluders Startup Challenge, which was created to support new companies seeking to increase financial inclusion. Continue reading

MICROFINANCE BRIEF: Ford Foundation to Invest $1b Over 10 Years in Mission-related Investments Such as Financial Services in Developing Countries, Affordable Housing in the US

The US-based Ford Foundation recently announced plans to disburse USD 1 billion in “mission-related investments” with initial foci on access to financial services in developing countries and affordable housing in the US. Continue reading

Written by Comments Off on MICROFINANCE BRIEF: Ford Foundation to Invest $1b Over 10 Years in Mission-related Investments Such as Financial Services in Developing Countries, Affordable Housing in the US Posted in Investment Funds, Trends/Challenges

MICROFINANCE BRIEF: Carolina Trivelli to Chair CGAP (Consultative Group to Assist the Poor) Executive Committee

The executive committee of US-based nonprofit CGAP (Consultative Group to Assist the Poor) recently elected Carolina Trivelli to be its new chair as of June 30. Continue reading

Written by Comments Off on MICROFINANCE BRIEF: Carolina Trivelli to Chair CGAP (Consultative Group to Assist the Poor) Executive Committee Posted in Key Players, Latin America

MICROFINANCE BRIEF: Pakistan’s Khushhali Microfinance Bank Borrows $20m from ADB for Farmers, MSMEs

The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently announced it will loan USD 20 million to Khushhali Microfinance Bank Limited of Pakistan to “expand access to credit for agriculture-related borrowers and small businesses.” Continue reading

MICROCAPITAL BRIEF: Vodacom Paying $2.6b to Its Majority Shareholder, Vodafone, for 35% Equity Stake in Owner of Kenya’s M-Pesa Mobile Money Service, Safaricom

Vodacom, a unit of UK-based Vodafone Group Plc that provides mobile communications services to 61 million subscribers in Africa, is paying Vodafone ZAR 34.6 billion (USD 2.6 billion) for a 34.94-percent stake in Safaricom, a Kenyan mobile network operator. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Vodacom Paying $2.6b to Its Majority Shareholder, Vodafone, for 35% Equity Stake in Owner of Kenya’s M-Pesa Mobile Money Service, Safaricom Posted in Africa, Deals, Mobile Money

MICROCAPITAL BRIEF: EBRD Lending $2m to Microfinance Institution Microfund for Women (MFW) for Entrepreneurs, Syrian Refugees in Jordan

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan USD 2 million in local currency to Microfund for Women (MFW), a microfinance institution in Jordan, to support female entrepreneurs in that country. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: EBRD Lending $2m to Microfinance Institution Microfund for Women (MFW) for Entrepreneurs, Syrian Refugees in Jordan Posted in Deals, Middle East

MICROCAPITAL BRIEF: EFSE Lending $25m to Turkey’s Yapi Kredi Leasing for Micro-, Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently indicated that it intends to lend USD 25 million to Turkey’s Yapi Kredi Leasing, “the largest subsidiary of Yapi Kredi Bank.” Continue reading

MICROCAPITAL BRIEF: Incofin Sells Equity Stakes in Microfinance Institution Financiera Confianza of Peru, Affiliate of Fundacion BBVA MicroFinanzas

Belgium’s Incofin Investment Management (Incofin IM) recently informed MicroCapital that three of its funds, Incofin CVSO, Volksvermogen and Rural Impulse Fund I, have sold their stakes in Financiera Confianza, a Peruvian microfinance institution (MFI) affiliated with Fundacion BBVA MicroFinanzas, which in turn was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 2007. While the sizes and prices of the stakes, which included all Confianza shares held by Incofin IM funds, remain confidential, Incofin IM reports that the funds earned “over Continue reading

MICROFINANCE EVENT: Global Social Impact Investment Steering Group (GSG) Impact Summit; July 9-12, 2017; Chicago, Illinois, USA

Event Name: GSG Impact Summit 2017

Event Date: July 9 – July 12, 2017

Event Location: Sheraton Grand Chicago; Chicago, Illinois, USA

Summary of Event: This event will address the state of the impact investment sector and strategies for creating further impact. Session topics will include influencing government policy Continue reading

Written by Comments Off on MICROFINANCE EVENT: Global Social Impact Investment Steering Group (GSG) Impact Summit; July 9-12, 2017; Chicago, Illinois, USA Posted in Events

MICROCAPITAL BRIEF: Tunisia’s Union Internationale de Banques (UIB) Borrows $45m from EBRD for SMEs

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently announced it will loan EUR 40 million (USD 44.9 million) to Union Internationale de Banques (UIB), a Tunisian bank, to support small and medium-sized enterprises’ (SMEs’) “lending activities and expand access to finance for underserved Continue reading