Microfinance institutions (MFIs) in Rwanda reportedly are calling for the government to change tax laws affecting microfinance such that MFIs are taxed as traditional commercial banks. Continue Reading »

“Microfinance Institution Tier Definitions;” published by MicroRate; April 2013; 2 pages; available at http://www.microrate.com/media/downloads/2013/04/MicroRate-White-paper-Microfinance-Institution-Tier-Definitions.pdf

This report proposes a “tier system that defines microfinance institution [MFI] peer groups by institutional maturity to provide a foundation for industry analysis and informed dialogue.” Continue Reading »

The Alliance for Financial Inclusion (AFI), a Thailand-based network of financial policymakers from approximately 85 countries, recently launched the African Mobile Phone Financial Services Policy Initiative (AMPI), which will aim to address barriers to the “uptake of mobile financial services” in Africa. Continue Reading »

The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa. Continue Reading »

The African Guarantee Fund (AGF), a Kenya-based organization that aims to increase financial access by underwriting commercial bank lending to small and medium-sized enterprises (SMEs) in Africa, recently reached an agreement with Commercial Bank of Africa (CBA), a bank based in Kenya, for a KES 200 million (USD 2.3 million) guarantee and with Kenya-based bank Investments & Mortgages Limited (I&M Bank) for a guarantee of KES 100 million (USD 1.2 million) to support the banks’ on-lending to SMEs. Continue Reading »

The National Insurance Commission (NIC), Ghana’s regulatory authority for the industry, reportedly has instituted a new regulatory framework  that is intended to promote the microinsurance sector. Continue Reading »

It is reported that the First National Bank (FNB), a subsidiary of South African financial services provider FirstRand Limited, has announced the launch of a mobile money transfer service between South Africa and Zimbabwe. Continue Reading »

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit research and policy center, the Grameen Foundation, a US-based nonprofit that seeks to increase business opportunities and telecommunication services for poor people in rural areas, and Mobile Telecommunications Network (MTN) Uganda, the Ugandan arm of South African telecommunications company MTN Group, recently announced plans to launch an initiative to research and develop new mobile financial products. Continue Reading »

The Nigeria Deposit Insurance Corporation (NDIC), a quasi-independent agency of the federal government that insures deposit-taking financial institutions, recently announced that it will grant an undisclosed amount of financial assistance to distressed microfinance banks (MFBs) and primary mortgage banks (PMBs) recently closed by the Central Bank of Nigeria (CBN). Continue Reading »

Luxembourg-based telecommunication firm Millicom International Cellular, also known as Tigo, has launched A mobile banking operations in Chad.  Continue Reading »

MicroFinance Transparency (MFTransparency), a US-based NGO, is bringing its “Transparent Pricing Initiative” to Morocco.  Continue Reading »

Virtual Terminal Network (VTN), a Nigerian mobile payment company, is reportedly partnering with Western Union Company, a US-based financial services company, to allow VTN customers to deposit Western Union money transfers directly into their VTN VCash accounts for access via their mobile phones.  Continue Reading »

By Jan Meissner; published by Ghana’s National Insurance Commission (NIC) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ); 2013; 243 pages; available at: http://www.microfinancegateway.org/gm/document-1.9.61118/Promoting%20Microinsurance%20in%20Ghana_Full%20Book.pdf

This book analyzes potential ways to enhance the development of the microinsurance sector in Ghana, providing an overview of inclusive financial market development in the country as well as a series of recommended best practices for microinsurance development. Continue Reading »

Opportunity International, a US-based development nonprofit, and its subsidiary MicroEnsure, a UK-based nonprofit microinsurance intermediary, have announced the launch in Malawi of a savings-linked education insurance product called EduSave.  Continue Reading »

Event Name: International Conference on Bancassurance in Africa

Event Date: June 11-13, 2013

Event Location: La Palm Beach Royal Hotel, Accra, Ghana Continue Reading »

The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, and Yunus Social Business (YSB) Global Initiatives, a Germany-based company that aims to fight poverty by promoting businesses that solve social problems, recently announced that they have established the Holistic Social Business Movement (HSBM). Continue Reading »

Mobile Telecommunications Network (MTN) Mobile Money, an arm of South African telecommunications company MTN Group, reportedly has partnered with Mobile Financial Services (MFS) Africa, a for-profit firm based in Mauritius, to launch KwikAdvance in Ghana. Continue Reading »

Ears Earth Environment Monitoring Limited, a subsidiary of the Netherlands-based remote sensing company Ears Holding, is offering its Food Early Solutions for Africa (FESA) microinsurance system free of charge to microinsurance providers. Continue Reading »