Category: Africa

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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MICROCAPITAL BRIEF: OPIC to Support Citi in Loaning up to $200m to Support Small Businesses in Africa, Asia, Eastern Europe, Latin America

Citigroup (Citi), a US-based financial services corporation, and the Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, reportedly have partnered to deliver USD 200 million to Citi’s local and multinational corporate and financial institution clients [1]. Continue reading

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MICROCAPITAL BRIEF: Shell Foundation, GroFin to Provide $100m in Risk Capital, Business Support to Small, Medium-Sized Enterprises in Middle East, Africa

The Shell Foundation, a social investment initiative of Netherlands-based petroleum firm Royal Dutch Shell Private Limited Company, reportedly has partnered with GroFin, a South African small and medium-sized enterprise (SME) financier, to launch a program to provide USD 100 million in risk capital and unspecified business support to SMEs in the Middle East and Africa. Continue reading

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MICROCAPITAL BRIEF: Microfinance Companies in Ghana Allegedly “Reaping Heavily” from Small Businesses via High Interest Rates

Microfinance companies in Ghana reportedly are “reaping heavily” from high interest rates charged to consumers, who are often unaware of the flat-rate interest calculation method used by most microfinance companies that forces borrowers to pay interest on the initial loan amount rather than on their remaining balance. Continue reading

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MICROCAPITAL BRIEF: Ngozi Okonjo-Iweala (NOI) Poll Reveals Mobile Money Not Widely Adopted in Nigeria

A recent survey in Nigeria on the adoption of mobile money services, conducted by the Ngozi Okonjo-Iweala (NOI) Polls, an opinion polling and research organization based in Nigeria, concluded that sixty percent of Nigerians do not know what mobile money is or that it is offered in their country. Continue reading

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MICROCAPITAL BRIEF: Central Bank of Liberia Loans $483k to Three Counties in Western Liberia to Promote Financial Inclusion

The Central Bank of Liberia (CBL), the country’s central bank, reportedly has granted loans totaling LRD 38 million (USD 483,000) to 106 financial institutions located in the Liberian counties of Bomi, Grand Cape Mount and Gbarpolu in an effort to “empower” rural businesses and increase the financial inclusion of rural people [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard Foundation Scholarship Applications for Sustainable Microenterprise and Development Program (SMDP) in Tanzania Due by October 4, 2013

MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, is offering an undisclosed number of full and partial scholarships for African women who have experience in the microenterprise development field to attend the Sustainable Microenterprise and Development Program (SMDP), an educational workshop that will be held in the Tanzanian city of Arusha from November 11-22 of 2013. Continue reading

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