Category: Africa

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), National Association of Microfinance Banks to Establish Technical Committee to Address Implication of Microfinance Policy, Including Recapitalization of MFBs

The Central Bank of Nigeria (CBN), the country’s central bank, and the National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently agreed to establish a technical committee to address the recapitalization and other steps that some MFBs must undertake to comply with the Revised Microfinance Policy Framework that took effect January 1. Continue reading

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MICROCAPITAL BRIEF: New Urban Finance Facility for Africa Invests $100m in Housing Microfinance in Africa, Middle East

The New Urban Finance Facility for Africa (NUF), an impact investing facility that supports housing microfinance, is investing USD 100 million to fund microfinance housing schemes in Africa and the Middle East, with initial investments going to Ghana, Kenya, Tanzania, Uganda and the West Bank. Continue reading

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MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $2m to Microfinance Institution Palestine for Credit and Development

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative of the German development bank Kreditanstalt fur Wiederaufbau Entwicklungsbank that invests in financial institutions in the Middle East and North Africa, recently agreed to disburse a senior loan facility of USD 2 million to Palestine for Credit and Development, a microfinance institution (MFI) based in Palestine’s West Bank that is known as Faten in Arabic. Continue reading

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MICROCAPITAL BRIEF: National Insurance Commission of Ghana Announces New Regulatory Regime, New Book Released on Promoting Microinsurance in the Country

The National Insurance Commission (NIC) of Ghana, the country’s regulatory authority for the industry, reportedly has announced a new set of regulations that aims to formalize and facilitate the sale of microinsurance products. Continue reading

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MICROFINANCE EVENT: AITEC Banking and Mobile Money West Africa, July 10 – 11, 2013, Accra, Ghana

Event Name: African Information & Communication Technology Exhibition & Conference’s (AITEC’S) Banking and Mobile Money in West Africa 2013: “Consolidating and monetizing the gains of innovation”

Event Date: July 10 – 11, 2013

Event Location: Accra International Conference Centre, Accra, Ghana Continue reading

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MICROCAPITAL BRIEF: Smaller Microfinance Banks in Nigeria Want 2 More Years to Raise Capital or Close Branches

The National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, reportedly issued a statement calling for a deadline extension for the implementation of the revised Microfinance Policy Framework, the regulatory guidelines established in August 2011 by the Central Bank of Nigeria (CBN), the country’s apex bank. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Briefing Note: The Landscape of Microinsurance in Africa 2012” by Michael J. McCord, Roland Steinmann and Molly Ingram; published by GIZ and Munich Re Foundation; 2012; 11 pages

By Michael J. McCord, Roland Steinmann and Molly Ingram; published by Deutche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Munich Re Foundation; 2012; 11 pages; available at: http://www.microinsurancecentre.org/resources/documents/doc_download/918-briefing-note-the-landscape-of-microinsurance-in-africa-2012.html

This report presents an analysis of the status and characteristics of the microinsurance industry in Africa. Continue reading

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MICROCAPITAL BRIEF: Centum, Cassia Acquire 45% Stake in Parent of Platinum Credit, Lender in Kenya, Uganda, Tanzania

Centum Investment Company (Centum), a private Kenyan investment company, and Cassia Capital Partners, a US-based investment advising company, recently acquired a 45-percent stake in Platcorp Holdings Limited, the parent company of Platinum Credit Limited, a lender that operates in Kenya, Uganda and Tanzania. Continue reading

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MICROCAPITAL BRIEF: Number of Mobile Money Subscribers in Kenya Down 1%, Total Transaction Value Up 7% During Quarter Ending September 2012

The Communications Commission of Kenya (CCK), a state-owned regulatory authority for the communications industry in the country, has released a report showing that the number of mobile money service subscribers dropped by 200,000 to 19.3 million between July and September 2012. Continue reading

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MICROCAPITAL BRIEF: Mobile Money Agents in Uganda Call for Improvements to Network Infrastructure

Chairman Moses Ihoza of the Uganda Mobile Money Agents Association (UMMAA), which represents 12,000 Ugandan Businesses that allow users of mobile money services to upload and withdraw cash, reportedly said the organization is calling for improvements to network infrastructure to aid the growth of the industry. Continue reading

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