Category: Africa

MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $6m to Enda Inter-Arabe of Tunisia for Young Entrepreneurs, Micro, Small, Medium-sized Enterprises in Rural Areas

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently loaned the local-currency equivalent of USD 6 million to Enda Inter-Arabe (Enda), a financial services provider and Tunisia-based arm of non-governmental organization Enda Third-World, to support Enda’s expansion into poor rural areas of Tunisia; increase product offerings to young entrepreneurs; provide financial services to micro, small and medium-sized enterprises; and promote the empowerment of women. The loan is Sanad’s first debt investment in the country [1]. Continue reading

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MICROCAPITAL BRIEF: Standard Bank, Systemanalyse und Programmentwicklung (SAP) To Launch “AccessBanking” to Reach Unbanked in South Africa

Standard Bank, a South Africa-based financial services company, recently partnered with Systemanalyse und Programmentwicklung (SAP), a Germany-based business software provider, to launch AccessBanking, a new service that enables low-income people in South Africa without access to traditional banking services to set up bank accounts with Standard Bank using their mobile phones [1]. Continue reading

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MICROCAPITAL BRIEF: Unit Trust of Tanzania (UTT) to Split into UTT Microfinance, UTT Asset Management and Investor Service (UTT AMIS), UTT Project and Infrastructure Development (UTT PID)

Unit Trust of Tanzania (UTT), a government-owned trust fund established in 2003, reportedly has decided to split into three separate firms: UTT Microfinance, UTT Asset Management and Investor Service (UTT AMIS) and UTT Project and Infrastructure Development (UTT PID) [1]. Continue reading

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MICROCAPITAL BRIEF: MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs)

MicroCredit Enterprises (MCE), a US-based NGO microfinance fund manager, and Freedom from Hunger, a US-based NGO that aims to alleviate hunger and poverty, are collaborating on a project that will offer “health-related education, loans, savings, insurance and linkages to local healthcare providers” in hopes that it will alleviate loan defaults caused by poor health and strengthen clients’ abilities to endure income-producing activities [1]. Continue reading

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MICROCAPITAL BRIEF: FMO, International Finance Corporation (IFC), KfW Entwicklungsbank Invest $5.4m in AccessBank Rwanda

The Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that aims to promote growth in the economies of developing countries; the International Finance Corporation (IFC), a member of the World Bank Group that offers assistance to private companies with the goal of alleviating poverty in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned German development bank, have invested RWF 3.5 billion (USD 5.4 million) in AccessBank Rwanda (ABR), the eighth member of Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard, Nigeria National Identity Management Commission (NIMC) to Produce 13 Million “National Identity Smart Cards”

MasterCard, a US-based payment solutions company, recently announced a new partnership with the Nigerian National Identity Management Commission (NIMC), an initiative of the Nigerian government to enroll all citizens and permanent residents into a national identity database, to produce 13 million “National Identity Smart Cards” that can be used as both identification cards as well as an electronic payment solution. Continue reading

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MICROCAPITAL BRIEF: Association of Microfinance Institutions in Uganda (AMFIU), National Network of People Living with HIV Uganda (PLHIV), Stop Aids Now, Humanist Institute for Development Cooperation (Hivos), Agency for Co-operation in Research and Development (ACORD) to Support MFI Clients Affected by HIV/AIDS in Uganda

The Association of Microfinance Institutions in Uganda (AMFIU), an umbrella organization for Ugandan microfinance institutions (MFIs) and related organizations, recently announced four new partnerships in an effort to support clients affected by HIV and AIDS illnesses in Uganda. Continue reading

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MICROCAPITAL BRIEF: Depositors Withdraw Savings from Microfinance Firms in Kumasi, Ghana amid Lack of Safety Nets for Clients

High rates of deposit withdrawals reportedly are occurring in Ghanaian city of Kumasi, which allegedly is attributed to the lack of safety nets protecting depositors in case firms are shut down by the Bank of Ghana (BoG), the country’s main financial regulator. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union Launch $3m “Small Business Support” Facility to Bring Technical Assistance to Firms in Egypt

The UK-based European Bank for Reconstruction and Development (EBRD) and the European Union (EU) recently launched a Small Business Support (SBS) facility with EUR 2.4 million (USD 3 million) in financial support from the EU for approximately 50 projects in Egypt. Continue reading

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MICROCAPITAL BRIEF: Sudan’s Northern Darfur Ministry of Finance Seeking to Improve Women’s Access to Microfinance

According to a statement attributed to Abu Daoud Suleiman, the Minister of Finance, Economy, and Civil Service of the Sudanese state of North Darfur, his state reportedly will seek to increase rural women’s access to funds from microfinance institutions because “women demonstrate commitment to repaying installations on time.” Continue reading

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MICROCAPITAL BRIEF: Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO) to Loan $10m to Societe Generale Ghana, Part for Small, Medium-Sized Enterprises (SMEs)

Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO), a French public-private development finance institution, reportedly has signed a seven-year USD 10 million loan agreement with Societe Generale (SG) Ghana, a Ghanaian bank that is a subsidiary of the French-owned Groupe Societe Generale, for on-lending to small and medium-sized enterprises (SMEs) as well as larger corporations. Continue reading

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MICROCAPITAL BRIEF: Advans SA to Create Tunisian Microfinance Institution Advans Tunisie

Advans SA SICAR (Advans SA), a microfinance investment vehicle managed by Horus Development Finance of France, recently announced plans to start Advans Tunisie, a microfinance institution (MFI) that will apply for a license from the Tunisian Ministry of Finance with the aim of launching before December 2013. Continue reading

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