Category: Africa

MICROCAPITAL BRIEF: African Development Bank (AfDB) Issues $80m in Local- Currency Bond in Nigeria’s Capital Market

The African Development Bank (AfDB), a multilateral finance institution based in Tunisia and gives loans and grants to governments and private companies in Africa, reportedly has raised NGN 12.95 billion (USD 80 million) by issuing a 7-year local-currency bond in the Nigerian market. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: African Development Bank (AfDB) Issues $80m in Local- Currency Bond in Nigeria’s Capital Market Posted in Africa

MICROCAPITAL BRIEF: Bank of Ghana Demands Photos of Owners of Microfinance Institutions to Deter Theft of Deposits

The Bank of Ghana (BoG), the central bank of the country, reportedly has implemented more stringent regulations for microfinance institutions (MFIs) in an effort to address an increase in failed microbanks and stolen customer deposits, which have been attributed to “bad management practices, increasing non-performing loans, fraudulent activities and expansion without a commensurate increase in capacity.” Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Bank of Ghana Demands Photos of Owners of Microfinance Institutions to Deter Theft of Deposits Posted in Africa, Regulation

MICROCAPITAL BRIEF: Econet’s EcoCash, MasterCard to Provide Debit Cards to Mobile Money Users in Zimbabwe

EcoCash, a mobile money service offered by South Africa-based mobile communications company Econet Wireless, and MasterCard Incorporated, a US-based payments and technology company, reportedly have reached an agreement to issue approximately 3 million MasterCard debit cards to EcoCash customers in Zimbabwe over the next five years. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Econet’s EcoCash, MasterCard to Provide Debit Cards to Mobile Money Users in Zimbabwe Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: United Nations Relief and Works Agency (UNRWA) Launches India-based InfrasoftTech’s OMNIEnterprise Microfinance Software in Gaza, Jordan, Syria, West Bank

InfrasoftTech, a financial software firm that was founded in 1995 and is based in Mumbai, India, reportedly has announced that the microfinance department of the United Nations Relief and Works Agency (UNRWA), which provides education, health care, social services has adopted InfrasoftTech’s OMNIEnterprise Microfinance Solution, a banking software system across its operations in: Gaza, Jordan, Syria and the West Bank. Continue reading

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MICROCAPITAL BRIEF: Accion’s Frontier Investments Invests Equity in Britain’s Eseye, Provider of Machine-to-Machine “M2M” Services That Can Facilitate Utility Service to Low-Income Households

Accion’s Frontier Investments Group, a venture-equity initiative that seeks to invest in companies serving financially excluded populations, has invested an undisclosed amount in Eseye Limited, a UK-based machine-to-machine (M2M) technology provider, during Eseye’s series-B financing round, which raised a total of USD 9 million. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Accion’s Frontier Investments Invests Equity in Britain’s Eseye, Provider of Machine-to-Machine “M2M” Services That Can Facilitate Utility Service to Low-Income Households Posted in Africa, Deals, Technology

MICROFINANCE EVENT: AlHuda Center of Islamic Banking and Economics to Host 4th Global Islamic Microfinance Forum, November 1-4, 2014, Dubai, UAE

Event Name: 4th Global Islamic Microfinance Forum

Event Date: Conference: November 1-2, 2014; Post-conference workshop: November 3-4, 2014

Event Location: Dubai, United Arab Emirates  Continue reading

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MICROFINANCE PAPER WRAP-UP: “Self-Selection into Credit Markets: Evidence from Agriculture in Mali;” by Lori Beaman, Dean Karlan, Bram Thuysbaert, Christopher Udry

“Self-Selection into Credit Markets: Evidence from Agriculture in Mali;” by Lori Beaman, Dean Karlan, Bram Thuysbaert and Christopher Udry; released as a working paper by Poverty Action Lab; May 2014; 36 pages; available at http://www.povertyactionlab.org/evaluation/self-selection-credit-markets-mali

In Mali, as in many parts of the developing world, agriculture sustains the livelihood of the vast majority of citizens. Continue reading

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Written by Comments Off on MICROFINANCE PAPER WRAP-UP: “Self-Selection into Credit Markets: Evidence from Agriculture in Mali;” by Lori Beaman, Dean Karlan, Bram Thuysbaert, Christopher Udry Posted in Africa

MICROCAPITAL BRIEF: Infinity Microfinance Bank, Partnership for Transforming Health Systems 2 (PATHS2) to Expand Micro Health Insurance Coverage in Nigeria

Infinity Microfinance Bank, a Nigerian microbank, and the Partnership for Transforming Health Systems 2 (PATHS2), a program intended to improve Nigeria’s health system that is funded by the UK’s Department for International Development (DFID), reportedly will collaborate to expand PATHS2’s “Micro Health Insurance Scheme” (MHIS) in the country. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Infinity Microfinance Bank, Partnership for Transforming Health Systems 2 (PATHS2) to Expand Micro Health Insurance Coverage in Nigeria Posted in Africa, Microinsurance

MICROFINANCE EVENT: 10th Clinton Global Initiative Annual Meeting, September 21-24, 2014, New York, USA

Event Name: 10th Clinton Global Initiative (CGI) Annual Meeting

Event Date: September 21-24, 2014

Event Location: New York, New York, USA Continue reading

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MICROCAPITAL BRIEF: Nigerian Government Exempts Microfinance Banks (MFBs) from Value-Added Tax

The Federal Inland Revenue Service (FIRS), the Nigerian government agency in charge of tax policy and collection, reportedly has revised the country’s tax laws to exempt microfinance banks (MFBs) from paying value-added tax (VAT) in an attempt to support the income of MFBs. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Nigerian Government Exempts Microfinance Banks (MFBs) from Value-Added Tax Posted in Africa, Regulation

MICROCAPITAL BRIEF: Sanad Fund for MSME Lends $9m to Tunisie Leasing to Support Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), a Germany-based fund providing loans in the Middle East and North Africa, has agreed to loan EUR 7 million (USD 9.4 million) to Tunisie Leasing, a Tunisian leasing company that focuses on serving MSMEs in Tunisia and Algeria. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Sanad Fund for MSME Lends $9m to Tunisie Leasing to Support Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia Posted in Africa, Deals

MICROFINANCE PUBLICATION ROUND-UP: Effects of Female Leadership on Microfinance Institutions (MFIs); Impact of Microcredit in Morocco; Social Performance Management Guide

Female Leadership, Performance, and Governance in Microfinance Institutions;” by Reidar Øystein Strøm, Bert D’Espallier and Roy Mersland; published by Elsevier; 2014; 16 pages; available for purchase at http://www.sciencedirect.com/science/article/pii/S0378426614000284

This report examines the relationship between the performance of microfinance institutions (MFIs) and whether women occupy high management positions, including CEO, chair or director, in those MFIs. Continue reading

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MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Implements Bank Verification Number (BVN) Identification System for Customers in Lagos

The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has initiated the first phase of a nationwide identification system upgrade for bank branches in Lagos. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Implements Bank Verification Number (BVN) Identification System for Customers in Lagos Posted in Africa, Events, Regulation, Technology

MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State

A Senator representing Ontario, Canada, recently announced on behalf of Christian Paradis, the country’s Minister of International Development and La Francophonie, that the government of Canada will be providing unspecified financial support to “a new project that will increase job opportunities and promote entrepreneurship among young people in Nigeria.” Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State Posted in Africa, Investment Funds

MICROCAPITAL BRIEF: responsAbility Loans $13m to Microfinance Institution FONDEP of Morocco

ResponsAbility Investments, a company based in Zurich that primarily invests in developing economies, recently notified MicroCapital that is has disbursed EUR 10 million (USD 13 million) in senior refinancing to Fondation pour le Développement Local et le Partenariat Micro-Crédit (FONDEP), a Moroccan MFI with the mission “to use microcredit to help women and youth create their own microenterprises and generate income.” Continue reading

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MICROCAPITAL BRIEF: Egyptian Payment Platform Fawry to Facilitate Provision of Electronic Government Services

Fawry, an Egyptian electronic payment company, reportedly has partnered with the Egyptian government with the aim of improving financial inclusion and expanding payment options to an increased proportion of the country’s population through digital communication channels. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Egyptian Payment Platform Fawry to Facilitate Provision of Electronic Government Services Posted in Africa, Technology

MICROCAPITAL BRIEF: Government-Backed Dutch Good Growth Fund Launches with $950m, Aims to Support Small, Medium-sized Enterprises (SMEs) in the Netherlands, Developing Nations

The Dutch Good Growth Fund (DGGF), a Netherlands-based loan fund that is funded with EUR 700 million (USD 947 million) from the Dutch Ministry of Foreign Affairs, has opened for business as of July 2014. Continue reading

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