Category: Africa

MICROFINANCE PUBLICATION ROUND-UP: Household Responses to Village Bank Access in Laos; Mobile Banking in Kenya; The Role of Banks in Driving Financial Inclusion

“Household Responses to Access to Finance Through GIZ-AFP Village Banks;” published by the Laos-Australia Development Learning Facility; February 2016; 50 pages; available at: http://ladlf.org/images/publications/030516_LADLF_GIZ_HH_Response_to_A2F_Final.pdf Continue reading

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MICROCAPITAL BRIEF: Nigeria to Disburse $462m in Loans to 1.7m Traders, Artisans, Farmers; $231m in Conditional Cash Transfers

The Nigerian government recently announced that NGN 68.7 billion (approximately USD 231 million) of its NGN 500 billion (approximately USD 1.7 billion) social investment programme will be used as a conditional cash transfer (CCT) scheme for 1 million “extremely poor and vulnerable Nigerians”[2]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Nigeria to Disburse $462m in Loans to 1.7m Traders, Artisans, Farmers; $231m in Conditional Cash Transfers Posted in Africa

MICROCAPITAL BRIEF: Controversy Brews as For-Profit Fintech Provider MyBucks Buys 6 African Microfinance Organizations from Nonprofit Opportunity International

The sale of microfinance institutions (MFIs) in Ghana, Kenya, Malawi, Mozambique, Tanzania and Uganda over the first half of 2016 by US-based NGO Opportunity International to Luxembourg-based financial technology company MyBucks has raised concerns both that these MFIs’ clients could be negatively impacted and that these transactions signal that the sector’s overall direction has shifted toward profit-making. Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $12m to Microfinance Institutions (MFIs) in Asia, Latin America, Tanzania

During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in Continue reading

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MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Releases Categorization System for “Non-interest Islamic Microfinance Banks”

The Central Bank of Nigeria (CBN), the country’s central banking authority, recently released a new categorization system for “Non-Interest Islamic Microfinance Banks” (NIMFBs). Such institutions operate under Islamic principles that prohibit charging interest, instead using arrangements such as the sharing of profit and loss. Continue reading

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MICROCAPITAL BRIEF: Financial Technology Start-up iNuka Pap of Kenya Selected For First Barclays Africa Accelerator Program

iNuka Pap Limited, a Kenyan start-up technology company that enables members of local Savings and Credit Cooperatives (SACCOs) “to conveniently deposit, withdraw and access instant micro-loans as well as access other credit services”[3], is one of ten early-stage financial technology firms selected to participate in the first Barclays Africa Accelerator program. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Financial Technology Start-up iNuka Pap of Kenya Selected For First Barclays Africa Accelerator Program Posted in Africa, Technology

MICROCAPITAL BRIEF: Swedish International Development Cooperation Agency (SIDA), Financial Sector Deepening Zambia (FSDZ) Signs $3.4m Women’s Financial Inclusion Agreement (WIN)

The Swedish International Development Cooperation Agency (SIDA), a government organization that manages approximately half of Sweden’s budget for development aid, recently signed an agreement with Financial Sector Deepening Zambia (FSDZ), a Zambian nonprofit organization that “provides information, innovation, and impact to increase financial inclusion”[4] local development organization that also operates in Kenya, to “build the financial capabilities of women and youths and reduce the gender gap”[1] as well as to increase financial inclusion in Zambia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Swedish International Development Cooperation Agency (SIDA), Financial Sector Deepening Zambia (FSDZ) Signs $3.4m Women’s Financial Inclusion Agreement (WIN) Posted in Africa

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $420k to Burkina Faso’s ASIENA, $330k to Agora Microfinance Zambia

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs), recently informed MicroCapital that it is loaning the local-currency equivalent of EUR 380,000 (USD 422,000) over three years to Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $420k to Burkina Faso’s ASIENA, $330k to Agora Microfinance Zambia Posted in Africa, Deals, Investment Funds

SPECIAL REPORT: Pre-qualification of Candidates to Provide Services for Africa Agriculture and Trade Investment Fund

Invitation for Expressions of Interest: Pre-qualification of candidates for full investment management services and/or distribution services for the Africa Agriculture and Trade Investment Fund, deadline: 19 August 2016 at 15:00 Central European Time.

The Africa Agriculture and Trade Investment Fund is an innovative public-private partnership established with the objective to realise Africa’s agricultural potential for the benefit of the poor by improving food security and providing additional employment and income to farmers, entrepreneurs and labourers. The Fund provides patient and responsible financing Continue reading

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MICROCAPITAL BRIEF: Tanzania Launches Mobile Money Monitoring (M3) Platform, Regulates Mobile Money Transactions

The Tanzania Communications Regulatory Authority (TCRA) recently launched a Mobile Money Monitoring (M3) platform, a technology-enabled tool that monitors mobile money services in Tanzania. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Tanzania Launches Mobile Money Monitoring (M3) Platform, Regulates Mobile Money Transactions Posted in Africa, Regulation, Technology

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $2.4m in Kenya to Juhudi Kilimo, Musoni Kenya, ECLOF

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 1.2 million (USD 1.3 million) to Continue reading

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MICROCAPITAL BRIEF: Bâtisseur de Richesse (BR SARL) Among 50 Microfinance Institutions Closed in Gabon, David Mapakou Arrested For Alleged Savings Fraud

The Ministry of Economy of Gabon recently froze the activities of 50 microfinance institutions that lacked  approval to offer microfinance services. Continue reading

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MICROCAPITAL BRIEF: KCB Bank, GoSwiff Roll Out Mobile Payments Solution in Rwanda

Kenya Commercial Bank (KCB), a Kenya-based publicly traded financial services company, and GoSwiff, a Singapore-based payment facilitation firm, recently rolled out a mobile payment solution for merchants in Rwanda. Continue reading

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MICROCAPITAL BRIEF: The MasterCard Foundation Donates $12m to Microcred to Increase its Client Reach in Ivory Coast, Madagascar, Senegal to 1.2m by 2019

The Microcred Group, a France-based for-profit microfinance company and member of Positive Planet, recently announced it has been funded by The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, to launch a financial inclusion programme in Ivory Coast, Madagascar and Senegal. Continue reading

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

Developpement 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