Category: Africa

MICROCAPITAL BRIEF: Gates Foundation, International Finance Corporation (IFC), MicroSave, United Nations Development Program (UNDP) Partner to Create Helix Institute of Digital Finance

The Bill and Melinda Gates Foundation, a US-based nonprofit that provides grants to organizations; the International Finance Corporation (IFC), a member of the US-based World Bank; MicroSave, an India-based for-profit consulting center; and the United Nations Development Program (UNDP), the global development network of the United Nations, have partnered to create the Helix Institute of Digital Finance, an online platform that will train mobile network operators, financial institutions and third-party providers in an effort to increase the efficiency and impact of their digital and financial services [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: “The International Bank of Bob,” by Bob Harris; published by Walker Publishing

“The International Bank of Bob;” by Bob Harris; published by the Walker Publishing Company, Inc.; March 2013; 400 pages, http://www.bloomsbury.com/us/the-international-bank-of-bob-9781620405222/

This book stems from the moment that US-based author Bob Harris met a group of South Asian day laborers while on assignment for ForbesTraveler.com in Dubai. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $515k of $872k in Loans to Mec Fadec of Senegal, Réseau National des Caisses Villageoises d’Épargne et de Crédit Autogérées (RENACA) of Benin

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it has disbursed the first half of a 30-month loan of EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI) [1]. Continue reading

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MICROCAPITAL BRIEF: Airtel, Tanzania Postal Bank (TPB) Partner to Offer Mobile Banking Services

Airtel Tanzania, a subsidiary of Indian telecommunications company Bharti Airtel, and Tanzania Postal Bank (TPB), a Tanzania-based bank that provides financial services to people in rural areas who do not have access to traditional banks, reportedly are partnering to offer free mobile financial services to their customers. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Lessons Learned from Morocco’s Microcredit Crisis; Using Microinsurance to Promote Universal Coverage; Remittances and Post-Conflict Economic Growth

“Lessons Learned from the Moroccan Crisis;” by Nadine Chehade and Alice Negre; published by CGAP (Consultative Group to Assist the Poor); 2013; 4 pages; available at http://www.cgap.org/sites/default/files/Brief-Lessons-Learned-from-the-Moroccan-Crisis-July-2013_0.pdf

This report presents the results of a study conducted by US-based NGO CGAP (Consultative Group to Assist the Poor) that explored the Moroccan microcredit downturn, focusing on outlining “lessons learned from the rise, fall, and ongoing recovery of the Moroccan microcredit sector that may be useful when adapted in other countries in similar situations.” Continue reading

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MICROCAPITAL BRIEF: Majority of Ghanaian Microfinance Institutions (MFIs) Allegedly Lack Operating Licenses, Bank of Ghana to Increase Surveillance

Ghanaian Radio XYZ Online, an online news publication, reportedly has discovered from an undisclosed source that of approximately 550 operating microfinance institutions (MFIs) in Ghana, only an estimated 200 are licensed. Continue reading

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MICROCAPITAL BRIEF: Habitat for Humanity International, MasterCard Foundation Partner to Support Housing Microfinance in Kenya

Habitat for Humanity, a US-based nonprofit that seeks to provide poor people with clean, safe and affordable housing, and MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, reportedly are partnering to build the capacity of three unidentified Kenyan financial institutions to expand housing microfinance products over the next five years [1] [2]. Continue reading

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MICROCAPITAL BRIEF: Goodwell West Africa Invests Equity in MicroCred Microfinance Bank Nigeria

Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be investing equity of an unspecified amount in Microcred Microfinance Bank (MFB) Nigeria, a member of the France-based MicroCred Group [1]. Continue reading

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MICROCAPITAL BRIEF: Kenya’s Credit Information Sharing (CIS) Mechanism Expanded to Deposit-Taking Microfinance Institutions, Savings and Credit Cooperative Societies, Expected to Lower Interest Rates

A Credit Information Sharing (CIS) feature that was implemented by Kenyan financial institutions in 2010 reportedly has been expanded to include deposit-taking microfinance institutions (DTMs) and savings and credit cooperative societies (SACCOS) in an effort to increase information sharing among financial institutions [1]. Continue reading

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MICROCAPITAL BRIEF: Goodwell West Africa Invests Equity in Mainstreet Microfinance Bank of Nigeria

Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be making an equity investment of an unspecified amount in Mainstreet Microfinance Bank (MFB), a microfinance institution in Nigeria [1]. Continue reading

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MICROCAPITAL BRIEF: South Africa’s Futuregrowth Asset Management to Curtail Investments in Microlenders Distributing “Unsecured” Loans

Futuregrowth Asset Management, a South-Africa based investment company, recently announced that it will curtail its investments in microlenders that advance “unsecure” loans without collateral, which allegedly often results in borrowers receiving loans that they are unable to repay [1]. Continue reading

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MICROCAPITAL BRIEF: World Bank’s International Development Association (IDA) Approves $300m Credit to Support “Housing Finance Project,” Housing Microfinance, in Nigeria

The International Development Association (IDA), the arm of US-based World Bank that provides interest-free credits and grants for programs in the poorest countries, has approved credit of USD 300 million to support Nigeria’s Housing Finance Project, which intends to provide access to long-term home financing for low-income people, including microentrepreneurs as well as those with higher incomes who are buying homes for the first time [1]. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Distributes $675k Loan to Cambodian MFI Chamroeun,Takes 20% Stake and Gives Funding to Senegalese Senegalaise des Filieres Alimentaires SA (SFA)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based financial service provider for microfinance institutions (MFIs) and social business projects, recently reported to MicroCapital that it has distributed the second tranche of a three-year loan of EUR 500,000 (USD 675,000) to Chamroeun, a Cambodian MFI that offers savings, loans and microinsurance [1]. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Microfinance and Mobile Banking, Financing Incremental Housing Improvements, Middle East and North Africa (MENA) 2012 Microfinance Snapshot

“Microfinance and Mobile Banking: Blurring the Lines?”; by Michel Hanouch and Sarah Rotman; published by CGAP (Consultative Group to Assist the Poor); 2013; 20 pages; available at http://www.cgap.org/sites/default/files/Focus-Note-Microfinance-and-Mobile-Banking-August-2013.pdf

This report presents the results from a study conducted by US-based NGO CGAP (Consultative Group to Assist the Poor) that explored the impact of mobile banking services on the microfinance market. Continue reading

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MICROCAPITAL BRIEF: Moody’s Analytics Partners with Africa Microfinance Network (AFMIN) to Deliver Social Performance Assessments (SPAs) in Sub-Saharan Africa

The Africa Microfinance Network (AFMIN), a Benin-based association of 1,100 African microfinance institutions (MFIs) serving 20 million clients, recently partnered with Moody’s Analytics, a US-based financial risk management company that provides risk management, credit analysis, research and training tools for financial institutions, to deliver Social Performance Assessments (SPAs) in Sub-Saharan Africa. Continue reading

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