Category: Africa

MICROCAPITAL BRIEF: SME Bank Receives $58m from Government of Namibia to Expand to All 14 Regions of Country

SME Bank, which was founded by the government of Namibia in 2012, is preparing to receive NAD 630 million (USD 58.7 million) in non-reimbursable funding from the government of Namibia to expand its operations to all 14 regions of the country, with the intention of fueling growth among the small and medium-sized enterprises.

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MICROFINANCE PUBLICATION WRAP-UP: “The Microfinance Sector in Morocco: Investment Opportunities After the Crisis;” Published by MicroFinanza Rating

“The Microfinance Sector in Morocco: Investment Opportunities After the Crisis,” published as part of the Insight series by MicroFinanza Rating, May 2014, 4 pages, available at http://www.microfinanzarating.com/images/Insight_Morocco_March_2014.pdf

Performed by Italy’s MicroFinanza Rating in May 2014, this “country screening” analyzes the political, economic and legal frameworks in which microfinance institutions (MFIs) function in Morocco. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which is based in Luxembourg and invests in “social businesses,” recently informed MicroCapital that it has made an investment of USD 500,000 in Nairobi-based Agriculture and Risk Enterprise Limited (ACRE), a microinsurance provider that aims to launch products in East and West Africa in exchange for an 8-percent stake in the company. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance Posted in Africa, Deals, Microinsurance

MICROCAPITAL BRIEF: Biniog Sathi Banking Model Employs Islamic Concept of Zakat in Effort to Minimize Credit Default

Mabroor Mahmood, who operates the online “Ideas for Development” think tank, recently began selling his Biniog Sathi banking model, which incorporates Zakat, a Muslim practice of giving charity, to protect against credit default [1]. Continue reading

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MICROCAPITAL BRIEF: Bank of Ghana Decides Not to Limit Number of Microfinance Licenses, May Raise Capital Requirements

The Bank of Ghana, the central bank of the country, whose responsibility includes regulating microfinance organizations, has chosen not to freeze the number of newly issued microfinance licenses and plans to weigh other alternatives to manage growth in the industry. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Bank of Ghana Decides Not to Limit Number of Microfinance Licenses, May Raise Capital Requirements Posted in Africa, Regulation

MICROCAPITAL BRIEF: “Harry Potter” Cinema Actress Emma Watson to Serve as Goodwill Ambassador for United Nations (UN) Women

United Nations (UN) Women, the UN organization “dedicated to gender equality and the empowerment of women,” has announced Emma Watson, a British actress, will serve as Goodwill Ambassador for the organization. Continue reading

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MICROCAPITAL BRIEF: National Insurance Commission (NAICOM) of Nigeria Approves Microinsurance Products from Mansard Insurance

The National Insurance Commission (NAICOM), the Nigerian insurance regulatory authority, reportedly has given Mansard Insurance, a Nigeria-based insurance company, approval to offer microinsurance plans to the public [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: National Insurance Commission (NAICOM) of Nigeria Approves Microinsurance Products from Mansard Insurance Posted in Africa, Microinsurance, Regulation

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $200k to Mec Fadec of Senegal, $680k to TIAVO of Madagascar

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by French Bank Credit Agricole and Bangladeshi NGO Grameen Trust, recently informed MicroCapital that it has disbursed the second half of a loan in local currency equal to EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI), and a loan of EUR 500,000 (USD 681,000) to Tahiry Ifamonjena Amin’ny Vola (TIAVO), a Madagascar-based MFI. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $200k to Mec Fadec of Senegal, $680k to TIAVO of Madagascar Posted in Africa, Deals

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently signed a cooperation agreement with the Chadian Ministry of Planning and International Cooperation, the governmental body charged with organizing and implementing development projects in the country, to support the development of leasing options for small and medium-sized enterprises (SMEs) in Chad. Continue reading

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MICROFINANCE EVENT: African Center for Peace Building to Host 2nd West African Microfinance Conference, July 23-24, 2014, Accra, Ghana

Event Name: 2nd West African Microfinance Conference

Event Date: July 23-24, 2014

Event Location: The Miklin Hotel, Accra, Ghana  Continue reading

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Written by Comments Off on MICROFINANCE EVENT: African Center for Peace Building to Host 2nd West African Microfinance Conference, July 23-24, 2014, Accra, Ghana Posted in Africa, Events

MICROCAPITAL BRIEF: Econet Wireless Accused of Monopolistic Practices Regarding Mobile Money Service

Econet Wireless Zimbabwe, a subsidiary of the South Africa-based telecommunications company Econet Wireless Group, reportedly is being investigated by Zimbabwe’s Competitions and Tariffs Commission (CTC), the authority charged with regulating trade in the country, over allegations of monopolistic business practices [1][2]. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Cooperation and Development Fund of Taiwan (TaiwanICDF) Loan Tunisie Leasing $14m to Fund Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, and the International Cooperation and Development Fund of Taiwan (TaiwanICDF), the principal body that oversees Taiwan’s overseas development programs, have jointly disbursed a loan of EUR 10 million (USD 13.7 million) to Tunisie Leasing, a financial institution that offers leasing services in Tunisia and Algeria. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Cooperation and Development Fund of Taiwan (TaiwanICDF) Loan Tunisie Leasing $14m to Fund Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia Posted in Africa, Deals

MICROCAPITAL BRIEF: National Social Security Authority (NSSA) of Zimbabwe Losing License for Capital Bank, Seeks to Establish Microfinance Institution (MFI)

The Reserve Bank of Zimbabwe (RBZ), the authority that supervises the financial sector and formulates monetary policy in Zimbabwe, reportedly has canceled the operating license of Capital Bank Corporation Limited (Capital Bank), a financial institution in Zimbabwe that offers corporate banking, wealth management, trade finance and financial advisory services, due to insufficient liquidity. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: National Social Security Authority (NSSA) of Zimbabwe Losing License for Capital Bank, Seeks to Establish Microfinance Institution (MFI) Posted in Africa, Regulation

MICROCAPITAL BRIEF: BNP Paribas, Orange to Allow Money Transfers Between Bank Accounts, Mobile Money Accounts in Cote D’Ivoire

BNP Paribas, a France-based financial services provider with operations in 84 countries, and Orange, a French telephone and Internet service provider, have announced that their customers in Cote D’Ivoire will now be able to transfer money between their bank accounts and their accounts with Orange Money, Orange’s mobile money service. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $9.4m to Microfinance Institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka, Tanzania

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits worth approximately USD 9.4 million through its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka and Tanzania. Continue reading

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MICROCAPITAL BRIEF: Kaah Express, Silatech, American Refugee Committee (ARC) to Launch Kaah Islamic Microfinance Services in Somalia

Kaah Express, a US-based international remittances company, reportedly has partnered with Silatech, a Qatar-based enterprise focused on increasing employment and entrepreneurship among youth in the Middle East and North Africa, and the American Refugee Committee (ARC), a US-based nonprofit that offers humanitarian aid across the globe, to create Kaah Islamic Microfinance Services (KIMS), a commercial microfinance institution (MFI) in Somalia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kaah Express, Silatech, American Refugee Committee (ARC) to Launch Kaah Islamic Microfinance Services in Somalia Posted in Africa

MICROCAPITAL PUBLICATION ROUND-UP: Microcredit Summit Campaign Report; responsAbility Financial, Social Impact Assessment; Microinsurance Education in Zambia

“Resilience: The State of the Microcredit Summit Campaign Report, 2014;” published by RESULTS Educational Fund; 2014; 68 pages; available in web format at http://stateofthecampaign.org/2014-report-executive-summary/or for purchase as a PDF or in print form at http://www.scribd.com/doc/229959504/Resilience-The-State-of-the-Microcredit-Summit-Campaign-Report-2014

This report examines the reach and effectiveness of microfinance institutions (MFIs) on a global scale using data as recent as from 2012. Continue reading

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