Category: Africa

MICROCAPITAL BRIEF: Urwego Opportunity Bank of Rwanda Receives $514k from Development Bank of Austria, “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation

The Urwego Opportunity Bank (UOB), a microfinance institution (MFI) in Rwanda, will receive a donation of USD 514,000 from the International Finance Corporation (IFC), a member of the US-based World Bank Group, and the Oesterreichische Entwicklungsbank AG (OeEB), Austria’s development bank, to support the provision of financial services – including mobile services – particularly to women and small-scale enterprises [1]. Continue reading

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MICROCAPITAL BRIEF: “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation Donates $2.7m to AccessBank Tanzania, FINCA Democratic Republic of Congo (DRC) for Projects Including Mobile Banking

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently notified MicroCapital that it has launched projects with AccessBank Tanzania (ABT), a member of Germany’s Access Microfinance Holding (AccessHolding), and FINCA DRC, a subsidiary of the US-based nonprofit Foundation for International Community Assistance (FINCA International) that operates in the Democratic Republic of the Congo [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation Donates $2.7m to AccessBank Tanzania, FINCA Democratic Republic of Congo (DRC) for Projects Including Mobile Banking Posted in Africa, Key Players

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $157k of $315k in Loans to Association Inter Instituts Ensemble et Avec (ASIENA) in Burkina Faso

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it has disbursed the first half of a three-year loan of EUR 229,000 (USD 315,000) to Association Inter Instituts Ensemble et Avec (ASIENA), an association of religious congregations that provides entrepreneurship support, mutual health insurance and other forms of microfinance services to its members [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $157k of $315k in Loans to Association Inter Instituts Ensemble et Avec (ASIENA) in Burkina Faso Posted in Africa, Deals

MICROCAPITAL BRIEF: Financial Sector Deepening (FSD) of Kenya, Women’s World Banking of US Partner to Serve Women in Sub-Saharan Africa

Kenya-based Financial Services Deepening (FSD), a trust that provides funding to financial institutions, and US-based Women’s World Banking (WWB), a nonprofit that works with financial institutions to provide financial tools to low-income women in 28 countries, reportedly are partnering to provide financial services to women in Sub-Saharan Africa. Continue reading

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MICROCAPITAL BRIEF: Agence Française de Développement (AFD), Lift Above Poverty Organization (LAPO) Commit $8.3m to Housing Microfinance Project, Lafarge Nigeria to Provide Technical Assistance

Agence Française de Développement (AFD), France’s international development agency, has announced a long-term credit line of NGN 1 billion (USD 6.3 million) to Lift Above Poverty Organization (LAPO), a Nigerian microfinance institution (MFI), to support an affordable housing project that aims to enable low-income families in Nigeria to construct or improve their housing [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Agence Française de Développement (AFD), Lift Above Poverty Organization (LAPO) Commit $8.3m to Housing Microfinance Project, Lafarge Nigeria to Provide Technical Assistance Posted in Africa, Key Players

MICROCAPITAL BRIEF: Oxus Democratic Republic of Congo Opens New Branch, Increases Total Capital to $2.7m

Oxus Democratic Republic of Congo (DRC), a microfinance institution (MFI) that opened in the Democratic Republic of Congo in May 2012, recently raised an unspecified amount of funds to bring its total capital to USD 2.7 million. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Partnerships in Mobile Financial Services; Africa Microfinance Pricing Reports; Impact Assessment of EFC Zambia

Partnerships in Mobile Financial Services: Factors for Success;” by Mark Flaming, Aiaze Mitha, Michel Hanouch, Peter Zetterli and Greta Bull; published by the MasterCard Foundation and the International Finance Corporation (IFC); October 2013; 18 pages; available at http://www.ifc.org/wps/wcm/connect/88486280414940acb54ab79e78015671/Partnerships+in+Mobile+Financial+Services.pdf?MOD=AJPERES

This report presents findings from a study exploring the factors that determine the success of business partnerships among telecommunication firms, financial institutions and other organizations in providing mobile financial services. Continue reading

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MICROFINANCE PAPER WRAP-UP: “The State of Microfinance Investment 2013,” Published by MicroRate

MicroRate, a for-profit microfinance rating agency based in the U.S., has recently released its eighth annual survey of international microfinance investment vehicles (MIVs). Continue reading

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MICROCAPITAL BRIEF: JP Morgan Chase “Catalyst for Growth” Reports Improved Performance of Small and Medium-Sized Enterprises (SMEs) in South Africa

JP Morgan Chase, a US-based investment and banking firm, recently announced that the 20 small and medium-sized enterprises (SMEs) that are participating in its two-year pilot programme Catalyst for Growth (C4G), have reported increases of: 43 percent in overall average revenue; 19 percent in permanent employees; and 13 percent in accessing capital for their businesses [1]. Continue reading

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SPECIAL REPORT: Why Microfinance Institutions Offer Unprofitable Housing Loans

On November 14, the closing day of the European Microfinance Platform’s (e-MFP’s) European Microfinance Week, Wilson Twamuhabwa, CEO of Uganda’s Ugafode Microfinance Limited, explained that his organization began to offer housing loan products partly because its clients were using 30 percent of their loans for housing anyway. Continue reading

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MICROCAPITAL BRIEF: Kenya Commercial Bank, Safaricom’s M-Pesa Launch Mobile App KCB M-Benki to Increase Financial Inclusion

Kenya Commercial Bank (KCB), a publicly-traded financial services company in Kenya, has partnered with Safaricom, a Kenyan mobile service provider that operates the mobile money service M-Pesa, to launch a mobile banking application called KCB M-Benki in Kenya and five other East African countries serviced by KCB [1]. Continue reading

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SPECIAL REPORT: Overcoming Barriers to Agricultural Microfinance

At European Microfinance Week, which is hosted by Luxembourg’s 140-member European Microfinance Platform (e-MFP), Daniela Rottger, a consultant to German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft (DEG), spoke Wednesday about her study of the agricultural lending products offered by several African banks and microlenders. Continue reading

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SPECIAL REPORT: Women Microfinance Clients Often Save More, Are More Loyal to Lenders

At today’s session on gender at European Microfinance Week in Luxembourg, panelists eschewed the idea that lenders have a moral obligation to serve a greater proportion of women. Instead, Anne-Marie Chidzero of South Africa and Anna Gincherman of the US-based Women’s World Banking (WWB) network both argued strenuously that lenders are leaving money on the table by failing to reach out to women. Continue reading

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MICROCAPITAL BRIEF: Habitat for Humanity Introduces Microcredit Program for Housing in Costa Rica

Habitat for Humanity, a US-based nonprofit that seeks to provide poor people with clean, safe and affordable housing, reportedly is launching a program in Costa Rica to provide microloans to people without access to traditional housing loans. Continue reading

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MICROCAPITAL BRIEF: Gates Foundation, International Finance Corporation (IFC), MicroSave, United Nations Development Program (UNDP) Partner to Create Helix Institute of Digital Finance

The Bill and Melinda Gates Foundation, a US-based nonprofit that provides grants to organizations; the International Finance Corporation (IFC), a member of the US-based World Bank; MicroSave, an India-based for-profit consulting center; and the United Nations Development Program (UNDP), the global development network of the United Nations, have partnered to create the Helix Institute of Digital Finance, an online platform that will train mobile network operators, financial institutions and third-party providers in an effort to increase the efficiency and impact of their digital and financial services [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: “The International Bank of Bob,” by Bob Harris; published by Walker Publishing

“The International Bank of Bob;” by Bob Harris; published by the Walker Publishing Company, Inc.; March 2013; 400 pages, http://www.bloomsbury.com/us/the-international-bank-of-bob-9781620405222/

This book stems from the moment that US-based author Bob Harris met a group of South Asian day laborers while on assignment for ForbesTraveler.com in Dubai. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $515k of $872k in Loans to Mec Fadec of Senegal, Réseau National des Caisses Villageoises d’Épargne et de Crédit Autogérées (RENACA) of Benin

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it has disbursed the first half of a 30-month loan of EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI) [1]. Continue reading

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MICROFINANCE EVENT: African Microfinance Week, Arusha, Tanzania, December 2-6, 2013

Event Name: African Microfinance Week: “Regulation of the African Microfinance Sector: 20 Years After”

Event Date: December 2-6, 2013

Event Location: The Ngurdoto Mountain Lodge (Victoria Conference Hall), Arusha, Tanzania Continue reading

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