Category: Africa

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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MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $6m to Enda Inter-Arabe of Tunisia for Young Entrepreneurs, Micro, Small, Medium-sized Enterprises in Rural Areas

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently loaned the local-currency equivalent of USD 6 million to Enda Inter-Arabe (Enda), a financial services provider and Tunisia-based arm of non-governmental organization Enda Third-World, to support Enda’s expansion into poor rural areas of Tunisia; increase product offerings to young entrepreneurs; provide financial services to micro, small and medium-sized enterprises; and promote the empowerment of women. The loan is Sanad’s first debt investment in the country [1]. Continue reading

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MICROCAPITAL BRIEF: Standard Bank, Systemanalyse und Programmentwicklung (SAP) To Launch “AccessBanking” to Reach Unbanked in South Africa

Standard Bank, a South Africa-based financial services company, recently partnered with Systemanalyse und Programmentwicklung (SAP), a Germany-based business software provider, to launch AccessBanking, a new service that enables low-income people in South Africa without access to traditional banking services to set up bank accounts with Standard Bank using their mobile phones [1]. Continue reading

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MICROCAPITAL BRIEF: Unit Trust of Tanzania (UTT) to Split into UTT Microfinance, UTT Asset Management and Investor Service (UTT AMIS), UTT Project and Infrastructure Development (UTT PID)

Unit Trust of Tanzania (UTT), a government-owned trust fund established in 2003, reportedly has decided to split into three separate firms: UTT Microfinance, UTT Asset Management and Investor Service (UTT AMIS) and UTT Project and Infrastructure Development (UTT PID) [1]. Continue reading

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MICROCAPITAL BRIEF: MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs)

MicroCredit Enterprises (MCE), a US-based NGO microfinance fund manager, and Freedom from Hunger, a US-based NGO that aims to alleviate hunger and poverty, are collaborating on a project that will offer “health-related education, loans, savings, insurance and linkages to local healthcare providers” in hopes that it will alleviate loan defaults caused by poor health and strengthen clients’ abilities to endure income-producing activities [1]. Continue reading

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MICROCAPITAL BRIEF: FMO, International Finance Corporation (IFC), KfW Entwicklungsbank Invest $5.4m in AccessBank Rwanda

The Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that aims to promote growth in the economies of developing countries; the International Finance Corporation (IFC), a member of the World Bank Group that offers assistance to private companies with the goal of alleviating poverty in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned German development bank, have invested RWF 3.5 billion (USD 5.4 million) in AccessBank Rwanda (ABR), the eighth member of Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard, Nigeria National Identity Management Commission (NIMC) to Produce 13 Million “National Identity Smart Cards”

MasterCard, a US-based payment solutions company, recently announced a new partnership with the Nigerian National Identity Management Commission (NIMC), an initiative of the Nigerian government to enroll all citizens and permanent residents into a national identity database, to produce 13 million “National Identity Smart Cards” that can be used as both identification cards as well as an electronic payment solution. Continue reading

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MICROCAPITAL BRIEF: Association of Microfinance Institutions in Uganda (AMFIU), National Network of People Living with HIV Uganda (PLHIV), Stop Aids Now, Humanist Institute for Development Cooperation (Hivos), Agency for Co-operation in Research and Development (ACORD) to Support MFI Clients Affected by HIV/AIDS in Uganda

The Association of Microfinance Institutions in Uganda (AMFIU), an umbrella organization for Ugandan microfinance institutions (MFIs) and related organizations, recently announced four new partnerships in an effort to support clients affected by HIV and AIDS illnesses in Uganda. Continue reading

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MICROCAPITAL BRIEF: Depositors Withdraw Savings from Microfinance Firms in Kumasi, Ghana amid Lack of Safety Nets for Clients

High rates of deposit withdrawals reportedly are occurring in Ghanaian city of Kumasi, which allegedly is attributed to the lack of safety nets protecting depositors in case firms are shut down by the Bank of Ghana (BoG), the country’s main financial regulator. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union Launch $3m “Small Business Support” Facility to Bring Technical Assistance to Firms in Egypt

The UK-based European Bank for Reconstruction and Development (EBRD) and the European Union (EU) recently launched a Small Business Support (SBS) facility with EUR 2.4 million (USD 3 million) in financial support from the EU for approximately 50 projects in Egypt. Continue reading

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