Category: Africa

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

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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: 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

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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

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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: 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

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MICROCAPITAL BRIEF: SureBüddy, Provider of Free Funeral and Handset Insurance, Expands to Uganda

South African technology firm AxMe International Services recently expanded its SureBüddy insurance application to Uganda, allowing users in that country to view advertisements in return for no-cost insurance for their mobile phone screens. Continue reading

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MICROCAPITAL BRIEF: Apply by June 5 for The MasterCard Foundation’s $150k “Clients at the Centre” Prize

The MasterCard Foundation, which is based in Canada, is accepting applications through June 5 for its 2017 “Clients at the Centre” Prize, which includes a cash award of USD 150,000. Continue reading

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MICROCAPITAL BRIEF: Fidelity Bank Ghana Borrows $54m for SME Lending from FMO, BIO, Symbiotics, Oikocredit, Incofin

Two government-backed entities, the Netherlands’ Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) and the Belgian Investment Company for Developing Countries (BIO), recently announced they are leading a senior loan package of USD 54 million to be onlent by Fidelity Bank Ghana to small and medium-sized enterprises (SMEs). The loan comprises USD 25 million from FMO Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Fidelity Bank Ghana Borrows $54m for SME Lending from FMO, BIO, Symbiotics, Oikocredit, Incofin Posted in Africa, Investment Funds

MICROFINANCE EVENT: 7th Annual Africa Banking and Finance Conference; May 30 – 31, 2017; Kigali, Rwanda

Event Name: Seventh Annual Africa Banking and Finance Conference (ABFC)

Event Date: May 30 – May 31, 2017

Event Location: Serena Hotel, Kigali, Rwanda

Summary of Event: The theme of this year’s Annual Banking and Finance Conference is “Making Financial Inclusion a Reality in Africa: Connecting People to Banking Continue reading

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Written by Comments Off on MICROFINANCE EVENT: 7th Annual Africa Banking and Finance Conference; May 30 – 31, 2017; Kigali, Rwanda Posted in Africa, Events, Technology

MICROFINANCE PUBLICATION ROUND-UP: Sectoral Migration Among Microenterprises in Madagascar, Tanzania Postal Bank’s Popote Digital Financial Services, Insurance Regulation in the Philippines

“Financial Constraint, Entrepreneurship and Sectoral Migrations: Evidence from Madagascar,” by Pierrick Baraton and Florian Léon, published by Making Finance Work for Africa, July 2016, 50 pages, available at https://www.mfw4a.org/nc/knowledge-center/resources/documents/documents-details/file/financial-constraint-entrepreneurship-and-sectoral-migrations-evidence-from-madagascar.html

The authors of this paper analysed data from 3,017 micro- and small enterprises that were clients of a microfinance institution (MFI) in Madagascar between 2008 and 2014. Continue reading

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MICROCAPITAL BRIEF: Canadian Government, KfW Contract with Développement international Desjardins (DiD) to Develop Capacity of Benin’s Microfinance Industry

Canada’s Développement international Desjardins (DiD) recently announced it has received funding from the Canadian government and Germany’s KfW (Kreditanstalt für Wiederaufbau) Development Bank to continue its work to strengthen Benin’s financial sector. The Canadian government awarded DiD a six-year contract to support 10 financial institutions and four related organizations Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Canadian Government, KfW Contract with Développement international Desjardins (DiD) to Develop Capacity of Benin’s Microfinance Industry Posted in Africa, Agriculture / Rural Finance, Deals

SPECIAL REPORT: African Microfinance Week (SAM) Registration Open for Sessions Starting October 9, 2017, in Addis Ababa, Ethiopia

Registration opened today for African Microfinance Week, also known as Semaine Africaine de la Microfinance (SAM), which will focus on “Creating Value for SMEs.” The event, which will begin on October 9, 2017, in Addis Ababa, Ethiopia, will include research presentations, an Innovation Fair and an Investor’s Fair. Several initiatives will hold events in conjunction with SAM, including ADA, the Africa Board Fellowship, CGAP (the Consultative Group to Assist the Poor), Connexus, Microfact, the Risk Management Initiative in Microfinance, the Social Performance Task Force and the UN’s Food and Agriculture Organization. More details on the agenda will be forthcoming soon.

Although the standard fee to attend is EUR 550, MicroCapital readers may enjoy a rate of Continue reading

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MICROCAPITAL BRIEF: Zimbabwe May Require Banks to Accept Moveable Collateral Such as Livestock, Accounts Receivable, Vehicles in Effort to Boost Financial Inclusion

The party of Zimbabwean President Robert Mugabe recently proposed a law that would require lenders to accept “moveable” assets, such as machinery, vehicles, livestock and accounts receivable, as collateral. Finance Minister, Patrick Chinamasa, said the legislation would “promote Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Zimbabwe May Require Banks to Accept Moveable Collateral Such as Livestock, Accounts Receivable, Vehicles in Effort to Boost Financial Inclusion Posted in Africa, Agriculture / Rural Finance

MICROCAPITAL BRIEF: MicroFinanza Issues 13 Institutional, Credit, TrueLift Ratings to Microfinance Institutions in Haiti, Latin America, Togo

During April 2017, Italy’s MicroFinanza Rating issued four microfinance institutional ratings. Two of these were to affiliates of French NGO Entrepreneurs du Monde: BB- with a stable outlook to Assilassimé Solidarité of Togo and CC “under observation” to Palmis Mikwofinans Sosyal of Haiti. The other two are Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) Provides Credit Lines Totaling $101m for Equity Bank, HFC to Support Microfinance in DRC, Kenya, Tanzania, Uganda

The EU’s European Investment Bank (EIB) recently announced it has opened two new credit lines to support small-scale enterprises in the Democratic Republic of Congo, Kenya, Tanzania and Uganda. The larger credit line is in the amount of EUR 75 million (USD 80 million) in the name of Equity Bank, a Kenya-based Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Investment Bank (EIB) Provides Credit Lines Totaling $101m for Equity Bank, HFC to Support Microfinance in DRC, Kenya, Tanzania, Uganda Posted in Africa, Investment Funds

MICROFINANCE EVENT: Dot Finance Africa Presents Its Second Fintech Conference on May 17 – 18, 2017 in Kigali, Rwanda

Event Name: Dot Finance Africa

Event Date: May 17 – May 18, 2017

Event Location: Kigali, Rwanda

Summary of Event: This event will include speeches and discussions on financial technology (fintech) topics including artificial intelligence, blockchain databases, client protection, collaboration, Continue reading

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MICROCAPITAL BRIEF: Tala Raises $30m in Series B Equity from IVP, Ribbit Capital, Existing Investors to Expand Mobile Phone Microlending in Asia, Latin America

Tala, a US-based microlender serving East Africa and Southeast Asia via mobile phone apps, recently raised USD 30 million through its Series B equity round in order to expand its services into South Asia and Latin America. Tala provides loans between USD 10 Continue reading

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MICROCAPITAL BRIEF: Senegal’s Banque Régionale de Marché to Launch “eCFA”  Digital Currency

In partnership with US-based eCurrency, Senegal’s Banque Régionale de Marché (BRM) is planning to launch a digital version of CFA francs, the currency used by the West African Economic and Monetary Union (WAEMU), which comprises Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. The currency is described as Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Senegal’s Banque Régionale de Marché to Launch “eCFA”  Digital Currency Posted in Africa, Mobile Money