Category: Africa

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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MICROCAPITAL BRIEF: Citing Bank Delays, Kenya’s Youth Enterprise Development Fund (YEDF) to Boost Direct Lending to Young Entrepreneurs

The Youth Enterprise Development Fund (YEDF), a Kenyan state corporation established in 2006 that provides loans for youth-owned or youth-focused enterprises, reportedly has applied for a deposit-taking microfinance license from the Central Bank of Kenya, and will increase its focus on providing loans directly to young entrepreneurs in Kenya. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Guarantee $664m to Vnesheconom Bank (VEB) for Financing Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to guarantee loans of EUR 500 million (USD 664 million) to be disbursed by Vnesheconombank (VEB), a development bank owned by the government of Russia, to provide funding for micro-, small and medium-sized enterprises (MSMEs) through partner banks. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considering $100m in Loans for National Bank of Egypt for Micro-, Small, Medium-Sized Enterprises; Trade Finance

The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a finance facility of up to USD 100 million for the National Bank of Egypt (NBE), which is wholly owned by the Egyptian government. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Final Impact Evaluation of the ‘Saving for Change’ Program in Mali, 2009-2012;” by the Bureau of Applied Research in Anthropology at the University of Arizona and Innovations for Poverty Action; published by Oxfam America and Freedom from Hunger

By the Bureau of Applied Research in Anthropology at the University of Arizona and Innovations for Poverty Action, published by Oxfam America and Freedom from Hunger, April 2013, 216 pages, available at: https://www.freedomfromhunger.org/sites/default/files/SavingforChangeMaliResearchFullReportMay2013.pdf

This study was funded by Freedom from Hunger, a US-based non-governmental organization that works to alleviate hunger in 19 countries, and Oxfam America, a member of Oxfam International that seeks to reduce poverty worldwide. The study evaluated the impacts of Saving for Change (SfC), a savings-group (SG) program that was co-created in 2005 by Freedom from Hunger, Oxfam America and the Stromme Foundation, a Norway-based international development organization. Continue reading

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MICROCAPITAL BRIEF: Caterpillar Foundation Donates $19m to Opportunity International to Reach 17m People in Africa, Asia and Latin America

Opportunity International, a US-based nonprofit organization that provides financial services to poor people in 24 countries, recently announced that Caterpillar Foundation, the philanthropic arm of US-based equipment manufacturer Caterpillar Inc., has granted Opportunity two multi-year donations totaling USD 19.2 million [1]. Continue reading

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MICROCAPITAL BRIEF: Sanad Fund for MSME to Loan $2m to Al Majmoua of Lebanon for Microenterprises

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 agreed to grant a senior loan facility of USD 2 million to Al Majmoua, a Lebanese nongovernmental organization (NGO) that lends to microenterprises. Continue reading

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MICROCAPITAL BRIEF: World Council of Credit Unions (WOCCU) Receives $2.45m from UN’s MicroLead for Liberia Credit Union National Association

The World Council of Credit Unions (WOCCU), a US-based association of credit union trade groups in 54 countries, recently received a four-year, USD 2.45 million grant from the United Nations Capital Development Fund’s (UNCDF’s) MicroLead program that it will direct to its new member organization, the Liberia Credit Union National Association (LCUNA), a network of 300 credit unions in Liberia that serve 36,000 individuals. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), European Investment Bank (EIB), Agence Française de Développement (AFD), European Commission Establish $380m Middle East, North Africa Small, Medium-Sized Enterprises Facility

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it is partnering with the European Investment Bank (EIB), the long-term lending bank of the European Union (EU); Agence Française de Développement (AFD), France’s international development agency; and the European Commission, the legislative body of the EU, via the Neighborhood Investment Facility (NIF), to establish a USD 380 million financing facility for small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA). Continue reading

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