Category: Africa

MICROFINANCE PUBLICATION ROUND-UP: Responsible Equity Exits in Microfinance; Greenfield Microfinance Models in Africa; Mobile Financial Services Usage Among Rural Women in India, Philippines

“The Art of the Responsible Exit in Microfinance Equity Sales;” by Daniel Rozas, Deborah Drake, Estelle Lahaye, Katharine McKee and Danielle Piskadlo; published by CGAP (Consultative Group to Assist the Poor); April 2014; 32 pages; available at http://www.cgap.org/sites/default/files/Forum-Art-of-the-Responsible-Exit-April-2014.pdf

This paper explores how microfinance investment intermediaries (MIIs) and development finance institutions (DFIs) can exit responsibly from microfinance institutions (MFIs) in which they have invested equity as well as how investors can contribute to healthy development of the overall market. The authors conducted six case studies and interviewed representatives from MIIs, nongovernmental organizations, DFIs, MFIs and merger-and-acquisition specialists. Continue reading

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MICROCAPITAL BRIEF: Airtel Ghana, MicroEnsure, Enterprise Life Roll Out Free Mobile Accident Insurance in Ghana

Airtel Ghana, a subsidiary of Indian telecommunications company Bharti Airtel; MicroEnsure, a UK-based microinsurance company founded by US-based Opportunity International; and Enterprise Life, an insurance company that is part of Ghana-based Enterprise Group, recently announced that 100,000 Airtel Ghana customers have registered for Airtel Insurance. Continue reading

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MICROFINANCE EVENT: Mobile Money and Digital Payments Africa Conference and Workshop, May 20-22, 2014, Johannesburg, South Africa

Event Name: Mobile Money and Digital Payments Africa

Event Date: May 20-22, 2014

Event Location: Hyatt Regency Hotel, Johannesburg, South Africa Continue reading

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Written by Comments Off on MICROFINANCE EVENT: Mobile Money and Digital Payments Africa Conference and Workshop, May 20-22, 2014, Johannesburg, South Africa Posted in Africa, Events

MICROFINANCE PUBLICATION ROUND-UP: Mobile Money Agents in Uganda; Sustainable Microfinance; Mobile Money for the Global Unbanked

“Agent Network Accelerator Survey: Uganda Country Report 2013;” published by Helix Institute of Digital Finance; January 2014; 26 pages; available at http://www.helix-institute.com/data-and-insights/agent-network-accelerator-survey-%E2%80%93-uganda-country-report-2013-0

This document presents the results of a study conducted by the US-based nonprofit Bill and Melinda Gates Foundation and India-based for-profit consultancy MicroSave that seeks to identify the challenges, trends and successes of the mobile money market in Uganda by surveying 2,000 agents. Continue reading

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MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya

The Communications Commission of Kenya (CCK), the regulatory authority for the telecommunications sector of the country, recently granted mobile virtual network operator (MVNO) licenses to Finserve Africa Limited, a subsidiary of Kenya’s Equity Bank, and two Kenyan mobile money transfer services, Tangaza Mobile Pay Limited and Zioncell Kenya Limited. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: Econet of Zimbabwe to Offer Microloans for Entrepreneurs in Informal Sector

Econet Wireless Zimbabwe, a mobile services provider that is a subsidiary of South Africa-based Econet Wireless Group, recently announced that it will launch a microloan program to target entrepreneurs in the informal sector in Zimbabwe. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Econet of Zimbabwe to Offer Microloans for Entrepreneurs in Informal Sector Posted in Africa, Technology

MICROCAPITAL BRIEF: Cooperative Rural Development Bank (CRDB) of Tanzania, International Finance Corporation (IFC) Sign $75m Agreement to Support Small, Medium-Sized Businesses Including Those Owned by Women, Involved in Agriculture

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, recently signed an agreement worth USD 75 million to support financing to small businesses in the country, particularly agribusinesses and companies owned by women. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Cooperative Rural Development Bank (CRDB) of Tanzania, International Finance Corporation (IFC) Sign $75m Agreement to Support Small, Medium-Sized Businesses Including Those Owned by Women, Involved in Agriculture Posted in Africa, Deals, Key Players

MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast

Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits Support Worth $300k to Back Newly Licensed AB Bank Rwanda, 8th Member of Access Microfinance Holding

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has announced a deal worth USD 300,000 to support AB Bank Rwanda Limited, which was licensed in December 2013 to operate as a microfinance bank (MFB)[1][2]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits Support Worth $300k to Back Newly Licensed AB Bank Rwanda, 8th Member of Access Microfinance Holding Posted in Africa, Deals

MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in Uganda Slow to Apply for Credit From Microfinance Support Center (MSC)

The Microfinance Support Center (MSC), an arm of the government of Uganda, reportedly is urging groups such as village savings and credit cooperative organizations (SACCOs), microfinance institutions, and small and medium enterprises, to apply for credit from the company “yet demand for it has been low” [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in Uganda Slow to Apply for Credit From Microfinance Support Center (MSC) Posted in Africa, Key Players

MICROCAPITAL BRIEF: National Bank of Rwanda (BNR) Maintains Repurchase (Repo) Rate at 7%

The National Bank of Rwanda, which is known by its French acronym BNR, has announced that it will maintain the key repurchase (repo) rate, the rate at which commercial banks borrow from the central bank, at 7 percent. Continue reading

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MICROCAPITAL BRIEF: American Refugee Committee (ARC) Sells Liberia-based Liberty Finance to DCRB Investments

The American Refugee Committee (ARC), a US-based nonprofit that provides humanitarian assistance in Africa, Asia, Haiti, and the Middle East, recently announced that it has sold its Liberia-based microfinance institution, Liberty Finance, to DCRB Investments (DCRB), a private investment company based in Liberia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: American Refugee Committee (ARC) Sells Liberia-based Liberty Finance to DCRB Investments Posted in Africa, Deals

MICROCAPITAL BRIEF: responsAbility Investments Lends $4m to Opportunity International Bank of Malawi

ResponsAbility Investments AG, a Swiss-based investor in microfinance and other sectors, recently announced the disbursement of a loan of USD 4 million to Opportunity International Bank of Malawi Limited (Opportunity Malawi), a member of the US-based Opportunity International network. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Investments Lends $4m to Opportunity International Bank of Malawi Posted in Africa, Deals

MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund

AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund Posted in Africa, Deals, Investment Funds, Key Players

MICROCAPITAL BRIEF: Grameen Foundation Receives Innovation Grant from GSMA’s mWomen

The Global Systems for Mobile Association (GSMA), a London-based association of 1,000 mobile operators and associated companies, recently announced that its mWomen programme has awarded the Grameen Foundation, a US-based nonprofit organization, its Innovation Fund grant of an undisclosed amount. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Foundation Receives Innovation Grant from GSMA’s mWomen Posted in Africa

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union to Provide Technical Assistance to Small, Medium-sized Enterprises (SMEs) in Tunisia

The Small Business Support (SBS) team of the European Bank for Reconstruction and Development (EBRD), a UK-based financial institution, recently began operations in Tunisia, with plans to provide small and medium-sized enterprises (SMEs) with technical tools and management skills in order to help them innovate, increase efficiency and boost productivity. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union to Provide Technical Assistance to Small, Medium-sized Enterprises (SMEs) in Tunisia Posted in Africa, Key Players

MICROCAPITAL BRIEF: Microfinance Market in Sudan Reaches 700k Borrowers, $352m in Funding

The Sudan Vision, a Sudanese daily newspaper, recently reported that, as of the end of 2013, the outreach of the country’s microfinance sector had grown to approximately 700,000 borrowers, up from approximately 490,000 the year before and 244,000 in 2011. Continue reading

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MICROCAPITAL BRIEF: Kenya Women’s Finance Trust (KWFT) Receives $16m in Equity Investments from Incofin’s Rural Impulse Fund II (RIF II), Norwegian Microfinance Initiative (NMI) Fund III, NMI Frontier Fund

Kenya Women’s Finance Trust (KWFT), a Kenyan microfinance institution (MFI) that was established in 1982, recently announced that it has received equity investments totaling KES 1.37 billion (USD 16 million) from three funds: a total of KES 692 million (USD 8 million) from the Norwegian Microfinance Initiative (NMI) Frontier Fund and NMI Fund III, with the remaining KES 692 million (USD 8 million) placed by the Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kenya Women’s Finance Trust (KWFT) Receives $16m in Equity Investments from Incofin’s Rural Impulse Fund II (RIF II), Norwegian Microfinance Initiative (NMI) Fund III, NMI Frontier Fund Posted in Africa, Deals, Investment Funds