Category: Africa

MICROCAPITAL BRIEF: Money Lenders Association of Ghana Signs Memorandum of Understanding to Provide Members with Microinsurance Products

The Money Lenders Association of Ghana (MLAG), an umbrella organization for 350 money-lending organizations in the country, and Star Microinsurance Services Limited, a company that provides microinsurance products to low-income households in Ghana, reportedly have signed a memorandum of understanding to provide MLAG’s clients with microinsurance products, including a funeral policy, micro-healthcare policy and a child education policy [1]. Continue reading

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MICROCAPITAL BRIEF: National Association of Microfinance Banks (NAMB), Central Bank of Nigeria (CBN) Propose Unified Software System for Microfinance Banks (MFB) in Nigeria

The National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently partnered with the Central Bank of Nigeria (CBN), the country’s main financial regulator, to propose a unified software system for all of NAMB’s member institutions. Continue reading

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MICROCAPITAL BRIEF: Association of Microfinance Institutions in Rwanda (AMIR), Child Savings International (Aflatoun), United Kingdom’s Department for International Development Inaugurate Youth Educational Program in Rwanda

The Association of Microfinance Institutions in Rwanda (AMIR), an umbrella organization for Rwandan microfinance institutions (MFIs) and related organizations, recently partnered with Child Savings International (referred to as Aflatoun), a Netherlands-based nonprofit, and the United Kingdom’s Department for International Development (UKDID) to launch an educational program in Rwanda that will teach entrepreneurial, savings and financial skills to youth. Continue reading

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MICROCAPITAL BRIEF: Tanzania Postal Bank (TPB), World Savings Banks Institute (WSBI), Bill and Melinda Gates Foundation to Launch “TPB Popote” to Reach Unbanked Tanzanians

The Tanzania Postal Bank (TPB), a Tanzania-based financial services organization, recently partnered with the World Savings Banks Institute (WSBI), a Switzerland-based international banking association, and the Bill and Melinda Gates Foundation (BMGF), a US-based nonprofit organization, to launch a new mobile banking service called “TPB Popote” that aims to increase the financial inclusion of low-income people in rural regions of Tanzania. Continue reading

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MICROCAPITAL BRIEF: African Insurance Organization (AIO) Inaugurates Microinsurance Committee

The African Insurance Organization (AIO), a Cameroon-based nonprofit that seeks to promote intra-African cooperation in developing Africa’s insurance and reinsurance industry, recently inaugurated a Microinsurance Committee to oversee the growth of microinsurance on the continent. Continue reading

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MICROCAPITAL BRIEF: Ecobank, Lonestar Cell MTN Launch “Mobile Money School Fees Payment Service” in Liberia

Ecobank Transnational Incorporated (ETI), a pan-African banking conglomerate that operates in 33 African countries, and Lonestar Cell Mobile Telecommunications Network (MTN), a member of the multinational telecommunications company MTN Group that has services in 21 countries in Africa, Europe and Middle East, reportedly have launched a partnership in Liberia that will alleviate the costs of waiting to pay for students’ school fees [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: “From Blueprint to Scale: The Case for Philanthropy in Impact Investing;” by Harvey Koh, Ashish Karamchandani and Robert Katz; Published by Monitor Group and Acumen Fund

By Harvey Koh, Ashish Karamchandani and Robert Katz; published by Monitor Group and the Acumen Fund; April 2012; 68 pages; available at: http://www.mim.monitor.com/downloads/Blueprint_To_Scale/From%20Blueprint%20to%20Scale%20-%20Case%20for%20Philanthropy%20in%20Impact%20Investing_Full%20report.pdf Continue reading

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MICROCAPITAL BRIEF: Government of Cameroon Partners with United Nations Development Program (UNDP), International Fund for Agricultural Development (IFAD), United Nations Capital Development Fund (UNCDF) To Consolidate Microfinance Sector

The government of Cameroon recently partnered with three agencies of the United Nations to consolidate the country’s microfinance sector by increasing governmental regulations and mergers of microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $92m to National Microfinance Bank (NMB) of Tanzania for Micro-, Small, Medium-sized Enterprises

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently loaned EUR 70 million (USD 92.4 million) to the National Microfinance Bank (NMB), a Tanzanian microfinance institution (MFI) that is 30-percent government-owned to support micro-, small and medium-sized enterprises (MSMEs) in Tanzania. The transaction is a long-term loan to NMB that will enable NMB to provide medium-term loans to MSMEs. Continue reading

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MICROCAPITAL BRIEF: African Development Bank (AfDB) Loans $17m to Société Nigérienne de Banque (Sonibank) of Niger to Support Private Sector

African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a credit line in the amount of EUR 13 million (USD 17 million) to Société Nigérienne de Banque (Sonibank), a commercial bank in Niger. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $12b by 2020 to African, Caribbean, Pacific Countries for Infrastructure, Private Business, Regional Developments

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it will loan a total of EUR 9 billion (USD 12 billion) by 2020 to institutions in Africa, Caribbean and Pacific (ACP) regions through its ACP Investment Facility, a revolving and risk-bearing fund for private sector investment. Continue reading

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MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), Bill and Melinda Gates Foundation Create “Geospatial Mapping of Financial Institutions” Program in Effort to Boost Inclusion

The Central Bank of Nigeria (CBN), Nigeria’s central bank and main financial regulator, reportedly has partnered with the Bill and Melinda Gates Foundation (BMGF), a US-based nonprofit organization, to form a new initiative called “Geospatial Mapping of Financial Institutions” that aims to increase the financial inclusion of low-income Nigerians [1]. Continue reading

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