Category: Africa

MICROCAPITAL BRIEF: Arise – Founded by Norfund, FMO, Rabobank to Invest in African Financial Services Providers – Buys 28% Equity Stake in Ghana’s CAL Bank from DPI

Arise, an investment company recently launched in South Africa by three European institutions, has paid an undisclosed price to acquire 27.7 percent of the shares of CAL Bank, a publicly traded financial institution in Ghana. Arise bought the stake from Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Impact of M-Pesa Mobile Money; Microinsurance in Sri Lanka; Women’s Financial Diaries in India, Kenya, Mexico

“The Long-run Poverty and Gender Impacts of Mobile Money”; by Tavneet Suri and William Jack; published in Science; December 8, 2016, 4 pages; available at http://science.sciencemag.org/content/354/6317/1288.full/

This article reviews a study that assessed the impact of the M-Pesa mobile payment service in Kenya. Continue reading

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MICROCAPITAL BRIEF: Success Microfinance Bank (Formerly Collarhedge Finance) Acquires Deposit-taking License from Reserve Bank of Zimbabwe

Success Microfinance Bank, a financial institution in Zimbabwe formerly known as Collarhedge Finance, recently received a license from the Reserve Bank of Zimbabwe allowing it to accept deposits. Microfinance banks in the country Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Success Microfinance Bank (Formerly Collarhedge Finance) Acquires Deposit-taking License from Reserve Bank of Zimbabwe Posted in Africa, Regulation

MICROCAPITAL BRIEF: FMO Investing $15m in Equity in Sanad Fund for MSME for On-lending in the Middle East, North Africa

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it will place equity of USD 15 million in the debt sub-fund of the Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), which disburses “medium- and long-term” loans to financial institutions that serve MSMEs Continue reading

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MICROFINANCE EVENT: Young Africa Works Summit; February 16 – 17, 2017; Kigali, Rwanda

Event Name: Young Africa Works Summit

Event Date: February 16 – February 17, 2017

Event Location: Kigali, Rwanda

Summary of Event: This second iteration of this event will convene young agricultural entrepreneurs with leaders of NGOs and government agencies to address how young people Continue reading

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MICROCAPITAL BRIEF: AYo Offers Free Mobile Health, Life Insurance to MTN Phone Subscribers in Uganda: “Recharge with Care” & “Send with Care”

AYo, which is a joint venture between two South African firms, insurer MMI Holdings and the MTN (Mobile Telecommunications Network) Group, recently launched its first two products, both in Uganda: (1) Recharge with Care, which provides life and/or hospitalization insurance when an MTN phone subscriber buys airtime; and (2) Send with Care, which Continue reading

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MICROFINANCE EVENT: 38th Midi de la Microfinance et de l’Inclusion Financière; March 8, 2017; Luxembourg

Event Name: 38th Midi de la Microfinance et de l’Inclusion Financière

Event Date: March 8, 2017

Event Location: Banque de Luxembourg, 14 Boulevard Royal, Luxembourg

Summary of Event: This 38th “Midi,” which is titled “Entreprenante Afrique: The Age of SMEs” consists of a one-hour discussion on the role that investors can play in the development of small and medium-sized enterprises Continue reading

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Written by Comments Off on MICROFINANCE EVENT: 38th Midi de la Microfinance et de l’Inclusion Financière; March 8, 2017; Luxembourg Posted in Africa, Events, Key Players

MICROCAPITAL BRIEF: EBRD Lends $8.7m to Compagnie Internationale de Leasing to Support MSMEs in Tunisia

The European Bank for Reconstruction and Development (EBRD), a UK-based financial institution, recently announced that it is providing a senior unsecured loan of TND 25 million (USD 8.8 million) to Compagnie Internationale de Leasing (CIL), a Tunisian company that rents and leases industrial equipment and goods. The loan is intended to allow CIL Continue reading

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MICROCAPITAL BRIEF: Zimbabwe Loosens Microfinance Regulations in Effort to Boost Investment; Deliver Range of Services to More Women, Youth

The government of Zimbabwe recently liberalized its Microfinance Act with provisions such as extending the validity of microfinance institution (MFI) license renewals from one to three years. Zimbabwe’s Finance Minister, Patrick Chinamasa, was quoted as saying financial institution “charges are just too high. With MFIs, it mostly has to do with the fact that investment in the sector is just too low, so companies just end up passing their costs to clients…. Zimbabwe seeks to unlock economic opportunities, especially for the women and youths by expanding access to savings, Continue reading

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MICROCAPITAL BRIEF: FMO, IFC Invest $16m in Equity in Mobisol to Finance Solar Power in Kenya, Rwanda, Tanzania

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that is placing equity investments totaling EUR 9.2 million (USD 9.9 million) in Mobisol, a Germany-based provider of solar home systems in East Africa. The investments are funded by two entities FMO manages in partnership with the Dutch government: MASSIF and the Access to Energy Fund. These investments were accompanied by an equity placement of EUR 5.4 million (USD 5.8 million) by Continue reading

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MICROCAPITAL BRIEF: IFC to Advise FINCA DRC on Boosting Access to Credit, Mobile Banking in the Democratic Republic of the Congo, with Funding from The MasterCard Foundation

The World Bank Group’s International Finance Corporation (IFC) recently agreed to provide two years of advisory services, valued at USD 1 million, to FINCA DRC, a unit of US-based FINCA Microfinance Holding Company that provides savings and credit services to 256,000 customers in the Democratic Republic of Congo. The goal is to Continue reading

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MICROCAPITAL BRIEF: Solar Financier PEG Africa Offers Customers in Ghana Free Hospitalization Insurance via Bima

PEG Africa, which offers “rent-to-own” financing for solar products in Cote d’Ivoire and Ghana, recently arranged to offer select customers no-cost insurance cover via Bima, a microinsurance service of Sweden’s Milvik. The rollout across Ghana follows a pilot project that served 2,000 families. PEG will enroll customers that meet certain criteria relating to loyalty and timeliness of repayment. The insurnace will pay out for Continue reading

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MICROCAPITAL BRIEF: Jumo Sells Microenterprise, Consumer Lender afb Ghana to Letshego

Letshego Holding Limited, which is based in Botswana and offers deposit and lending services in 10 African countries, recently paid an undisclosed price to Jumo World Limited, a financial technology firm registered in Mauritius, for all of the shares of afb Ghana, which has 60,000 customers and total assets of GHS 97 million (USD 23 million) as of December 2016. Both afb and Letshego lend for Continue reading

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SPECIAL REPORT: Semaine Africaine de la Microfinance (SAM, also known as African Microfinance Week) Scheduled for October 9 – October 13, 2017, in Addis Ababa, Ethiopia

Luxembourgish NGO ADA, 27-member African Microfinance Transparency and the 71-member Microfinance African Institutions Network recently announced that they will hold the Semaine Africaine de la Microfinance Continue reading

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MICROFINANCE EVENT: MENA Governance and Strategic Leadership Seminar; March 7 – 9, 2017; Amman, Jordan

Event Name: MENA Governance and Strategic Leadership Seminar

Event Date: March 7 – March 9, 2017

Event Location: Sheraton Amman Al Nabil Hotel, Fifth Circle, Amman, 11184, Jordan

Summary of Event: The goal of this event is to strengthen boards of directors of microfinance institutions in the Middle East and North Africa (MENA) region Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $63m to Various MFIs

Austria’s C-Quadrat Asset Management informed MicroCapital today that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 63.5 million during December to unspecified microfinance institutions (MFIs) in countries including Ghana, Indonesia, Kenya, Mongolia and Sri Lanka. The Continue reading

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MICROCAPITAL BRIEF: Invest in Visions Lends $2m to Beige Capital Savings and Loans of Ghana

Germany’s Invest in Visions Mikrofinanzfonds, a fund advised by Belgium’s Incofin, recently agreed to loan up to USD 5 million to Beige Capital Savings and Loans, a unit of Ghana’s Beige Group, which offers banking, pension, insurance and investment services. Among Beige Capital’s goals is to “be the [small and medium-sized enterprise] bank of choice across Ghana.”

As part of the process of considering Continue reading

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