Recent cases of fraud threaten to undermine trust in money transfers by mobile phone, a service which has increased financial inclusion in many countries. Continue Reading »

FirstBank of Nigeria PLC (FirstBank), a financial service provider in Nigeria, has signed a memorandum of understanding (MoU) with Airtel Networks Limited (Airtel Nigeria), Globacom Limited Nigeria (GLO) and Etisalat Nigeria, three mobile phone service providers, to work together in an effort to provide secure, affordable and user-friendly mobile financial services in Nigeria. Continue Reading »

Swaziland’s Ministry of Finance reportedly will present a National Credit Bill to “promote fair and non-discriminatory access to consumer credit and improve the standards of consumer information” and “curb unfair lending practices.” Continue Reading »

The Central Bank of Sudan (CBOS) reportedly announced that for two years it will pay the salaries of up to 1,000 new graduates entering employment in the microfinance sector. Continue Reading »

Zantel Tanzania, a telecommunications company owned by Etisalat of the United Arab Emirates, has launched the “Ezy Pesa” mobile payment service, a re-branded version of its Z-Pesa service. Continue Reading »

Zimbabwean Reserve Bank Governor Gideon Gono has reportedly cited various problems affecting the Zimbabwe microfinance sector, including the absence of a credit reference bureau for the 157 licensed microfinance institutions (MFIs) in the country. Continue Reading »

According to the National Bank of Rwanda (NBR), assets in the microfinance sector grew 12.1 percent from RWF 43 billion (USD 70.1 million) in 2010 to RWF 48.2 billion (USD 78.6 million) in December 2011 due to increases in both deposits and loans. Continue Reading »

Zambian health, life and pension products provider Professional Life Assurance has launched a microinsurance program called Bantu Bonse for low-income clients in Zambia. Continue Reading »

Sudanese governor Abdul Rahman reportedly announced the establishment of a Microfinance Council for the state of Khartoum, Sudan. Continue Reading »

Jamii Bora Bank of Kenya recently received KES 200 million (USD 2 million) in loans from the Kenya-based Women Enterprise Fund (WEF), a government agency that provides credit to support the start-up and expansion of women-owned businesses. Continue Reading »

Event Name: Africa Information and Communications Technology Exhibition and Conference (AITEC) Banking & Mobile Money – Common Market for Eastern and Southern Africa (COMESA) 2012

Event Date: March 7 – March 8, 2012

Event Location: Kenyatta International Conference Centre (KICC), Nairobi, Kenya Continue Reading »

The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, announced at the recent sixth Annual Microfinance Conference and Entrepreneurship Awards that it plans to create an investment fund targeting women entrepreneurs. Continue Reading »

As the number of microfinance institutions (MFIs) in Ghana has grown over the last five years, there have been mixed reviews of the impact of microfinance. Continue Reading »

Citibank Nigeria and Citi Foundation, two arms of US-based financial services provider Citigroup, have announced the creation of the Citi Microenterprise Development for Rural Farmers Initiative (CMDRFI), a capacity-building and microlending scheme for smallholder farmers in Nigeria. Continue Reading »

Banks in Nigeria reportedly have been rejecting third-party cheques from microfinance banks (MFBs). Continue Reading »

The Ugandan arm of India’s Airtel launched its mobile money platform on Tuesday, January 31, 2012, allowing its customers to use e-money to pay bills, pay for mobile credit, and receive money via mobile network. Continue Reading »

Consistent with news reported by MicroCapital in January 2011, Nigeria’s federal government and the Central Bank of Nigeria (CBN) still plan to create a Microfinance Development Fund (MDF) with the intent of increasing financial inclusion and improving the operations of microfinance institutions. Continue Reading »

Event Name: “Mobile Money Connected Africa Forum Conference & Expo”

Event Date: May 14 – 17, 2012

Event Location: Johannesburg, South Africa Continue Reading »