Category: Africa

MICROCAPITAL BRIEF: Financial Sector Development Program (FSD) Africa to Invest $2m in Microinsurance Innovation Laboratory of International Labor Organization’s (ILO’s) Impact Insurance Facility

The Financial Sector Development Program (FSD) Africa, a project funded by the UK’s Department for International Development (DfID), will invest USD 1.8 million over the next four years in the “microinsurance innovation laboratory” by the Impact Insurance Facility (IIF) of the International Labor Organization (ILO), an agency of the United Nations. Continue reading

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MICROCAPITAL BRIEF: Africa Board Fellowship on Financial Inclusion Accepting Applications Through February 29, 2016

The Center for Financial Inclusion (CFI), an affiliate of the US-based nonprofit Accion that aims to promote universal financial access, is seeking board members and chief executives of organizations that work toward financial inclusion in sub-Saharan Africa to enroll in its six-month Africa Board Fellowship. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Africa Board Fellowship on Financial Inclusion Accepting Applications Through February 29, 2016 Posted in Africa, Events

MICROFINANCE EVENT: Middle East Global Advisors (MEGA) to Host 2nd International Forum on Islamic Finance (IFIF), November 24-25, 2015, Khartoum, Sudan

Event Name: 2nd International Forum on Islamic Finance

Event Dates: February 9-10, 2016

Event Location: Al Salam Rotana Hotel, Khartoum, Sudan Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: ING’s Billion to Gain: Geographic Variations in Microfinance Impact; Indian Mobile Wallet Market Growth; Profiting From Financial Inclusion

“A Billion to Gain? Microfinance Clients Are Not Cut from the Same Cloth,” G. Hieminga, R. Budjhawan, S. Eriksen, I. Unger; published by ING Bank; November 2015; 8 pages; available at: http://www.ingcb.com/insights/research/microfinance-emancipating-the-worlds-poorest Continue reading

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MICROCAPITAL BRIEF: Central Bank of West African States, Islamic Corporation for the Development of the Private Sector to invest $30m in small, medium-sized enterprises (SMEs)

Banque Centrale des Etats de L’Afrique (BCEAO), the central bank for eight West African countries, and the Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution affiliated with the Saudi Arabia-based Islamic Development Bank, recently agreed to provide USD 30 million to small and medium-sized enterprises (SMEs) in the West African Economic and Monetary Union (WAEMU). Continue reading

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MICROCAPITAL BRIEF: Luxembourg Directorate for Development and Cooperation (LuxDev) Donates $219k to Support Microfinance Institution (MFI) Asusu Of Niger to Train 550 Young Entrepreneurs

The Luxembourg Directorate for Development and Cooperation (LuxDev), a government-owned institution encouraging international development, has awarded a donation of EUR 200,000 (USD 218,000) to ADA, a Luxembourg-based nonprofit organization formerly known as Appui au Developpement Autonome. The donation is intended to assist Asusu, a Niger-based microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: World Vision UK, VisionFund International Prepare for El Niño Response in Africa with $3m “Returnable” Donation from UK Government’s Department for International Development (DFID)

The UK government’s Department for International Development (DFID) recently awarded a “returnable” grant of GBP 2 million (USD 3 million) to World Vision UK, a branch of US-based NGO World Vision International, and VisionFund International, a microfinance organization owned by World Vision, to help families in six African countries recover from anticipated severe weather caused by El Niño, a phenomenon of warmer than average waters in the eastern Pacific Ocean. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: World Vision UK, VisionFund International Prepare for El Niño Response in Africa with $3m “Returnable” Donation from UK Government’s Department for International Development (DFID) Posted in Africa, Investment Funds Tagged with ,

MICROCAPITAL BRIEF: Omidyar Network Leads Investment in eCurrency Mint to Support Technology That Enables Central Banks in Issuing Digital Currency

Omidyar Network, a US-based  investment firm, recently made an investment of undisclosed amount in eCurrency Mint (eCM), an Ireland-based company that has developed a technology that enables central banks to issue digital currency, called eCurrency. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Global Financial Development Report 2015/2016,” Published by the World Bank

“Global Financial Development Report 2015/2016,” published by the World Bank, September 2015, 211 pages, available at http://www.worldbank.org/en/publication/gfdr/report Continue reading

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MICROCAPITAL BRIEF: M-Kopa Solar Raises $19m in Private Equity Investment to Expand Pay-As-You-Go Model in East Africa

M-Kopa Solar, a Kenya-based “pay-as-you-go” solar energy supplier for homes in Africa that do not have traditional electricity connections, has raised KES 2 billion (USD 19 million) in an equity round led by London-based Generation Investment Management LLP. Continue reading

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MICROCAPITAL BRIEF: Dahabshiil’s “MicroDahab-MFI”, SolarGen Technologies Announce “Lease to Purchase” Energy Product for Low-Income Somali Farmers, Small-scale Entrepreneurs in Somalia

MicroDahab-MFI, the microfinance institution (MFI) that serves as the corporate social responsibility arm of the United Arab Emirates-based conglomerate Dahabshiil Group, and SolarGen Technologies, a Somalia-based distributor of renewable energy technologies, have announced a joint energy project in Somalia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Dahabshiil’s “MicroDahab-MFI”, SolarGen Technologies Announce “Lease to Purchase” Energy Product for Low-Income Somali Farmers, Small-scale Entrepreneurs in Somalia Posted in Africa, Deals

MICROCAPITAL BRIEF: FMO Disburses $10m to VisionFund International to Support Inclusive Finance in Africa

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced that it will disburse a five-year loan of USD 10 million to VisionFund International, a US-based affiliate of the Christian humanitarian organization World Vision International, aiming to support female clients and clients in rural areas via microfinance organizations (MFIs) in VisionFund’s network. Continue reading

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MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines

The Bank of Sierra Leone, the central bank of the country, has partnered with United Nations Development Program (UNDP), a member of the UN that invests knowledge and other resources into developing countries, and United Nations Capital Development Fund (UNCDF), a UN agency that works to increase access to microfinance and other forms of capital in developing countries, to launch the first mobile financial services guidelines in Sierra Leone [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines Posted in Africa, Mobile Money, Regulation, Transparency

MICROCAPITAL BRIEF: Opportunity International Selling 6 Banks in Sub-Saharan Africa to Financial Technology Company MyBucks

Opportunity International, a microfinance NGO based in the US city of Chicago, has announced that it intends to sell six of its banks that are located in unspecified sub-Saharan Africa to MyBucks Group, a financial technology company in Luxembourg. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Opportunity International Selling 6 Banks in Sub-Saharan Africa to Financial Technology Company MyBucks Posted in Africa, Deals

MICROCAPITAL BRIEF: Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), Arab Tunisian Lease Partner to Mobilize $5m for 750 Firms in Tunisia

The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Arab Tunisian Lease (ATL), a Tunisia-based company that provides lease financing for equipment, vehicles and real estate, signed a senior loan agreement for USD 5 million to support micro-, small and medium-sized enterprises (MSMEs) in Tunisia. This funding is slated to expand ATL’s portfolio by an additional 750 MSMEs. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), Arab Tunisian Lease Partner to Mobilize $5m for 750 Firms in Tunisia Posted in Africa, Deals

MICROCAPITAL BRIEF: International Labor Organization’s (ILO’s) Impact Insurance Facility, Africa Reinsurance Corporation (Africa Re) Partner to Promote African Microinsurance

The Impact Insurance Facility (IIF) of the International Labor Organization (ILO), an agency of the United Nations, and Africa Reinsurance Corporation (Africa Re), a Nigeria-based corporation that assists reinsurance institutions and invests in the African insurance sector, have agreed to partner to promote inclusive microinsurance markets for the financially excluded population in Africa[1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Labor Organization’s (ILO’s) Impact Insurance Facility, Africa Reinsurance Corporation (Africa Re) Partner to Promote African Microinsurance Posted in Africa, Deals, Microinsurance

MICROCAPITAL BRIEF: Safaricom, MTN Rwanda Partner to Enable Transactions Between Kenya’s M-Pesa, MTN Mobile Money

Safaricom, a Kenya-based telecommunications company, recently has partnered with MTN Rwanda, the Rwandan branch of South Africa-based multinational telecommunications provider Mobile Telecommunications Network Group (MTN), to enable cross-border transactions. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Safaricom, MTN Rwanda Partner to Enable Transactions Between Kenya’s M-Pesa, MTN Mobile Money Posted in Africa, Mobile Money, Technology