Category: Africa

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $200k to Mec Fadec of Senegal, $680k to TIAVO of Madagascar

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by French Bank Credit Agricole and Bangladeshi NGO Grameen Trust, recently informed MicroCapital that it has disbursed the second half of a loan in local currency equal to EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI), and a loan of EUR 500,000 (USD 681,000) to Tahiry Ifamonjena Amin’ny Vola (TIAVO), a Madagascar-based MFI. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $200k to Mec Fadec of Senegal, $680k to TIAVO of Madagascar Posted in Africa, Deals

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently signed a cooperation agreement with the Chadian Ministry of Planning and International Cooperation, the governmental body charged with organizing and implementing development projects in the country, to support the development of leasing options for small and medium-sized enterprises (SMEs) in Chad. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad Posted in Africa, Deals

MICROFINANCE EVENT: African Center for Peace Building to Host 2nd West African Microfinance Conference, July 23-24, 2014, Accra, Ghana

Event Name: 2nd West African Microfinance Conference

Event Date: July 23-24, 2014

Event Location: The Miklin Hotel, Accra, Ghana  Continue reading

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Written by Comments Off on MICROFINANCE EVENT: African Center for Peace Building to Host 2nd West African Microfinance Conference, July 23-24, 2014, Accra, Ghana Posted in Africa, Events

MICROCAPITAL BRIEF: Econet Wireless Accused of Monopolistic Practices Regarding Mobile Money Service

Econet Wireless Zimbabwe, a subsidiary of the South Africa-based telecommunications company Econet Wireless Group, reportedly is being investigated by Zimbabwe’s Competitions and Tariffs Commission (CTC), the authority charged with regulating trade in the country, over allegations of monopolistic business practices [1][2]. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Cooperation and Development Fund of Taiwan (TaiwanICDF) Loan Tunisie Leasing $14m to Fund Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, and the International Cooperation and Development Fund of Taiwan (TaiwanICDF), the principal body that oversees Taiwan’s overseas development programs, have jointly disbursed a loan of EUR 10 million (USD 13.7 million) to Tunisie Leasing, a financial institution that offers leasing services in Tunisia and Algeria. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Cooperation and Development Fund of Taiwan (TaiwanICDF) Loan Tunisie Leasing $14m to Fund Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia Posted in Africa, Deals

MICROCAPITAL BRIEF: National Social Security Authority (NSSA) of Zimbabwe Losing License for Capital Bank, Seeks to Establish Microfinance Institution (MFI)

The Reserve Bank of Zimbabwe (RBZ), the authority that supervises the financial sector and formulates monetary policy in Zimbabwe, reportedly has canceled the operating license of Capital Bank Corporation Limited (Capital Bank), a financial institution in Zimbabwe that offers corporate banking, wealth management, trade finance and financial advisory services, due to insufficient liquidity. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: National Social Security Authority (NSSA) of Zimbabwe Losing License for Capital Bank, Seeks to Establish Microfinance Institution (MFI) Posted in Africa, Regulation

MICROCAPITAL BRIEF: BNP Paribas, Orange to Allow Money Transfers Between Bank Accounts, Mobile Money Accounts in Cote D’Ivoire

BNP Paribas, a France-based financial services provider with operations in 84 countries, and Orange, a French telephone and Internet service provider, have announced that their customers in Cote D’Ivoire will now be able to transfer money between their bank accounts and their accounts with Orange Money, Orange’s mobile money service. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $9.4m to Microfinance Institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka, Tanzania

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits worth approximately USD 9.4 million through its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka and Tanzania. Continue reading

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MICROCAPITAL BRIEF: Kaah Express, Silatech, American Refugee Committee (ARC) to Launch Kaah Islamic Microfinance Services in Somalia

Kaah Express, a US-based international remittances company, reportedly has partnered with Silatech, a Qatar-based enterprise focused on increasing employment and entrepreneurship among youth in the Middle East and North Africa, and the American Refugee Committee (ARC), a US-based nonprofit that offers humanitarian aid across the globe, to create Kaah Islamic Microfinance Services (KIMS), a commercial microfinance institution (MFI) in Somalia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kaah Express, Silatech, American Refugee Committee (ARC) to Launch Kaah Islamic Microfinance Services in Somalia Posted in Africa

MICROCAPITAL PUBLICATION ROUND-UP: Microcredit Summit Campaign Report; responsAbility Financial, Social Impact Assessment; Microinsurance Education in Zambia

“Resilience: The State of the Microcredit Summit Campaign Report, 2014;” published by RESULTS Educational Fund; 2014; 68 pages; available in web format at http://stateofthecampaign.org/2014-report-executive-summary/or for purchase as a PDF or in print form at http://www.scribd.com/doc/229959504/Resilience-The-State-of-the-Microcredit-Summit-Campaign-Report-2014

This report examines the reach and effectiveness of microfinance institutions (MFIs) on a global scale using data as recent as from 2012. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), MasterCard Foundation, Tigo to Expand Mobile Financial Services in Ghana

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group; the MasterCard Foundation, a Canadian nonprofit founded by US-based global payment processing company MasterCard that aims to promote youth learning and financial inclusion in emerging markets; and Tigo Ghana, a unit of Luxembourg-based telecommunication firm Millicom International Cellular, recently announced that they have signed an agreement worth USD 2 million to provide advisory services to support Tigo Ghana “to develop and expand mobile financial services in support of wider financial inclusion”[1] in Ghana. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC), MasterCard Foundation, Tigo to Expand Mobile Financial Services in Ghana Posted in Africa, Deals, Key Players

MICROCAPITAL BRIEF: Kenyan Mobile Money Service Providers Finserve Africa, Zioncell, Tangaza Acquire Mobile Virtual Network Operator (MVNO) Licenses, will Access Airtel’s Wireless Network

The Communications Authority of Kenya, the regulatory body for the country’s telecommunications sector, reportedly has granted mobile virtual network operator (MVNO) licenses to three mobile money transfer service providers based in Kenya: Finserve Africa Limited, Zioncell Kenya Limited, and Tangaza Mobile Pay Limited. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kenyan Mobile Money Service Providers Finserve Africa, Zioncell, Tangaza Acquire Mobile Virtual Network Operator (MVNO) Licenses, will Access Airtel’s Wireless Network Posted in Africa, Mobile Money

MICROCAPITAL BRIEF: Gambia Women’s Finance Association Adopts Towerplane Software to Enable Doorstep Microfinance

The Gambia Women’s Finance Association (GAWFA), a nonprofit organization in Gambia with approximately 49,000 members, reportedly has adopted software developed by Towerplane, a Spanish software company, that allows the microfinance institution to provide services outside of bank branches using mobile devices. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Gambia Women’s Finance Association Adopts Towerplane Software to Enable Doorstep Microfinance Posted in Africa, Technology

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Signs Deals with AB Bank Rwanda, IHS Holding of Nigeria, Urwego Opportunity Bank of Rwanda to Expand Microfinance, Telecommunications

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has signed deals with AB Bank Rwanda (ABR), a microfinance bank (MFB) affiliated with Access Microfinance Holding of Germany; IHS Holding Limited, a mobile services infrastructure company based in Nigeria that operates in five African countries; and Urwego Opportunity Bank (UOB), a foreign-owned Rwandan MFB, in an effort to increase access to telecommunications and financial opportunities in Rwanda. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Signs Deals with AB Bank Rwanda, IHS Holding of Nigeria, Urwego Opportunity Bank of Rwanda to Expand Microfinance, Telecommunications Posted in Africa, Deals

MICROCAPITAL BRIEF: Tigo, Airtel, Zantel Link Mobile Money Systems in Tanzania

Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo; Airtel Tanzania, a subsidiary of Indian telecommunications company Bharti Airtel; and Zantel Tanzania, a telecommunications company owned by Etisalat of the United Arab Emirates, recently announced an agreement to allow customers of the three firms’ mobile money services to send and receive money to and from users of all three systems. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $1m to Première Agence de Microfinance au Burkina Faso, $239k to Biotropical of Cameroon

Grameen Credit Agricole, a Luxembourg-based organization that provides financing to microfinance institutions (MFIs), recently informed MicroCapital that it has granted a 3-year loan of EUR 770,000 (USD 1.05 million) to the Première Agence de Microfinance au Burkina Faso (PAMF-BF), an MFI in Burkina Faso, and a loan of EUR 175,000 (USD 239,000) to Biotropical, a Cameroon-based fruit company that works with small farmers. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $1m to Première Agence de Microfinance au Burkina Faso, $239k to Biotropical of Cameroon Posted in Africa, Deals

MICROCAPITAL BRIEF: Commercial Bank of Africa, Vodacom Tanzania Launch Mobile Money Service “M-Pawa”

The Commercial Bank of Africa (CBA), a privately owned bank that operates in Kenya, Tanzania and Uganda, and Vodacom Tanzania, a subsidiary of UK-based telecommunications company Vodafone Group, recently announced the launch of a money mobile service called M-Pawa. Continue reading

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