Category: Africa

MICROCAPITAL BRIEF: Developpement international Desjardins (DiD) Supports Lenders of Centre de Traitement Informatise du Senegal in Reaching Clients via SMS Messaging

Développement international Desjardins (DiD), a unit of Canada’s cooperative Desjardins Group that promotes financial services in developing countries, launched a pilot program Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Developpement international Desjardins (DiD) Supports Lenders of Centre de Traitement Informatise du Senegal in Reaching Clients via SMS Messaging Posted in Africa, Mobile Money, Trends/Challenges

MICROCAPITAL BRIEF: DiD Supports Microfinance Institution Kafo Jiginew in Offering “Input Savings” Voucher Plan to Help Farmers in Mali Buy Improved Pesticides

Developpment international Desjardins (DiD), a nonprofit unit of Canada’s cooperative Desjardins Group that promotes financial services in developing countries, recently partnered with Kafo Jiginew, a microfinance institution in Mali, to help it introduce a savings plan intended to address the fact that small-scale farmers often run out of funds between harvest and planting time. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: DiD Supports Microfinance Institution Kafo Jiginew in Offering “Input Savings” Voucher Plan to Help Farmers in Mali Buy Improved Pesticides Posted in Africa, Key Players, Trends/Challenges

MICROCAPITAL BRIEF: “Orange Money” Connects France, Ivory Coast, Mali, Senegal with Mobile Money Transfer

Orange, a France-based telecommunications company, recently expanded “Orange Money”, a mobile money service already used in 14 African countries by approximately 18 million people, to France, allowing customers to transfer money electronically to Ivory Coast, Mali and Senegal. Fees for using Orange Money are EUR 3 for transactions of EUR 100 or less, EUR 5 for transactions of EUR 100.01 to 250 and EUR 8 for transactions of EUR 250.01 to 400 (USD 3.4 for transactions of USD 113.34 or less, USD 5.67 for transactions of USD 113.35 to 283.31 and USD 9.07 for transactions of USD 283.32 to 453.36). The maximum amount per transaction is EUR 400 (USD 453.36). Orange Money has 41 points of sale in France and about 30,000 points of sale in Ivory Coast, Mali and Senegal. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: “Orange Money” Connects France, Ivory Coast, Mali, Senegal with Mobile Money Transfer Posted in Africa

MICROCAPITAL BRIEF: Zambia Passes Secured Transactions Law to Boost Lending to SMEs Based on Movable Collateral

With support from the International Finance Corporation (IFC), a member of the US-based World Bank Group, Zambia recently passed the “Personal Property Security Interest Act”, a law that aims to allow small and medium-sized enterprises (SMEs) to use movable collateral such as equipment, machinery and inventory to access loans. Supporters of the law hope it will “generate USD 2 billion in financing to firms and benefit 6,500 SMEs, 1,200 micro enterprises, and 1,200 women entrepreneurs” by 2020. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Zambia Passes Secured Transactions Law to Boost Lending to SMEs Based on Movable Collateral Posted in Africa

MICROCAPITAL BRIEF: EIB Pledges Venture Capital to Microfinance Institutions, Microfinance Investment Vehicles Operating in the Southern Mediterranean

The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently pledged to create a venture capital scheme to support microfinance institutions and microfinance investment vehicles operating in the Middle East and North Africa within the next four months. Continue reading

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MICROCAPITAL BRIEF: Ericsson, Rwandan Government to Launch “Rwanda Interconnect Switch” Linking Microfinance Institutions, Banks

Telefonaktiebolaget LM Ericsson (Ericsson), a Swedish communications technology and services corporation, recently announced that it has signed an agreement with the Rwandan Ministry of Finance and Economic Planning to launch a national interoperability switch, known as the Rwanda Interconnect Switch (RIS), which is expected to be operational by early 2017. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Ericsson, Rwandan Government to Launch “Rwanda Interconnect Switch” Linking Microfinance Institutions, Banks Posted in Africa

MICROCAPITAL BRIEF: Kenya’s Sidian Bank, Zohari Leasing to Finance Uber Driver’s Vehicles

Uber, a US-based car hailing service, and Sidian Bank, a Kenya-based commercial bank, recently announced they will support Uber drivers in the purchase or lease of new vehicles. Continue reading

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MICROCAPITAL BRIEF: Equator Capital Acquires Minority Interest in Kenya’s Jamii Bora Bank

Equator Capital Partners LLC, a US-based fund manager, through its fund Shore Cap II Limited, recently acquired a minority interest in Jamii Bora Bank Limited, a commercial bank based in Kenya whose customer base is made up primarily of micro-savers and borrowers. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Equator Capital Acquires Minority Interest in Kenya’s Jamii Bora Bank Posted in Africa, Deals

MICROCAPITAL BRIEF: MoneyGram Expands Operations in Equatorial Guinea Through 15 BANGE Branches

MoneyGram International, a US-based money transfer company, recently announced it has expanded its operations in Equatorial Guinea by launching services at 15 locations of Banco Nacional de Guinea Ecuatorial (BANGE), a government-controlled bank. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: MoneyGram Expands Operations in Equatorial Guinea Through 15 BANGE Branches Posted in Africa

MICROCAPITAL BRIEF: FINCA, First Access Partner in Africa on Alternative Credit Scoring, Incorporating Mobile Phone Usage

FINCA Microfinance Holding Company, an arm of US-based nonprofit microfinance network FINCA International, and First Access, a US-based financial technology company, recently partnered to create an alternative credit-scoring system to serve the Democratic Republic of Congo, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. This system aims to “establish credit scores for low-income clients who lack sufficient formal credit history to secure small loans to build businesses or support emerging personal needs.” Specific information on exactly how this system works is unavailable, but First Access typically analyzes demographic, geographic, financial and social aspects of clients’ mobile phone usage to predict credit risk. Continue reading

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MICROCAPITAL BRIEF: Ecobank, Old Mutual Partner to Distribute Microinsurance in Africa

Ecobank Group, an arm of Togo-based Ecobank Transnational Incorporated (ETI), and Old Mutual Emerging Markets, an arm of South Africa’s Old Mutual Group, recently announced an agreement to provide Ecobank’s customers with Old Mutual’s “life insurance, savings and short-term insurance solutions across a greater network on the African continent.” Specific plans for the rollout have not been released. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Ecobank, Old Mutual Partner to Distribute Microinsurance in Africa Posted in Africa

MICROCAPITAL BRIEF: ResponsAbility Investments Loans $15m to Trustco of Namibia for Education Funding

ResponsAbility Investments AG, a Swiss company specializing in investments in areas such as fair trade, recently informed MicroCapital that it has agreed to loan USD 15 million to Trustco Group Holdings Limited (Trustco), a company based in Windhoek, Namibia, that specializes in microfinance, micro-insurance and financial education. Continue reading

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MICROCAPITAL BRIEF: Tanzania’s National Microfinance Bank (NMB) Selling $9m in Bonds for On-lending

The National Microfinance Bank (NMB), an institution backed by the government of Tanzania, recently began offering retail bonds in amounts starting at TZS 500,000 (USD 228) with a 13 percent interest rate per annum. The bond issuance, which has been approved by the country’s Capital Markets and Securities Authority (CMSA), will remain open until June 8, 2016. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Tanzania’s National Microfinance Bank (NMB) Selling $9m in Bonds for On-lending Posted in Africa

MICROCAPITAL BRIEF: IFC Invests $25m in Debt in First National Bank Zambia, Primarily For Agricultural SMEs

International Finance Corporation (IFC), a member of the World Bank Group, recently loaned USD 25 million to First National Bank Zambia (FNB Zambia), a subsidiary of FirstRand Group South Africa. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: IFC Invests $25m in Debt in First National Bank Zambia, Primarily For Agricultural SMEs Posted in Africa, Key Players

MICROCAPITAL BRIEF: World Bank, Rabobank Foundation Seek to Replicate Consolidation of Agricultural Cooperatives in Albania

The World Bank, member of US-based multilateral World Bank Group, and the Rabobank Foundation, the “social fund” of the Dutch bank Rabobank, recently teamed up to consolidate agricultural cooperative financial institutions (CFIs), organizations set up by farmers to gain access to financing. Continue reading

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MICROCAPITAL BRIEF: Canadian Government Appoints Développement international Desjardins (DiD) to Run FARM (Agricultural and Rural Financing) in Mali Project

The Canadian government recently appointed Développement international Desjardins (DiD), a nonprofit supporting the community finance sector in emerging economies, to run the Agricultural and Rural Financing in Mali Project, which is also known by its French acronym FARM.  Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Canadian Government Appoints Développement international Desjardins (DiD) to Run FARM (Agricultural and Rural Financing) in Mali Project Posted in Africa