The Switzerland-based, nonprofit Global Alliance for Improved Nutrition (GAIN) recently launched a partnership with Belgium’s Incofin Investment Management to create the Nutritious Food Financing Facility (N3F), which is intended to boost access to healthy food in sub-Saharan Africa. It will engage small and medium-sized enterprises (SMEs) operating in “food value chains by
Category: Africa
MICROFINANCE EVENT: International Investors Forum for Financial Service Providers; March 9-10, 2020; Accra, Ghana; March 12-13, 2020; Lagos, Nigeria
These two events will bring together representatives of microfinance banks, NGOs, insurers and financial technology firms (fintechs) to meet with domestic and international investors. Speakers will include practitioners, researchers and government representatives. The goal is to
MICROFINANCE EVENT: Mondato Summit Africa; Maputo, Mozambique – POSTPONED
Please note that the start of this event was rescheduled from March 31, 2020, to September 23, 2020, and then to a date to be determined in 2021.
The seventh annual Mondato Summit Africa will center on the theme “Beyond Access: Generating Value Through Digital Inclusion.” The organizer chose Mozambique as the venue due to the fast growth of the country’s financial technology sector. Participants will attend
MICROFINANCE EVENT: Second International Interest-free Banking & Takaful Forum; February 18-20, 2020; Addis Ababa, Ethiopia
On February 18, this event includes speakers on investment opportunities and other potential benefits of Islamic finance, which employs mechanisms such as the sharing of both profit and loss
MICROCAPITAL BRIEF: CDC Group of UK Investing $2.6b in Africa Over 2 Years; $387m Announced for MSMEs, Mid-caps, Renewable Energy, Technology
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has committed to investing GBP 2 billion (USD 2.6 billion) in African businesses over the next two years. This follows its recent announcement
MICROFINANCE EVENT: Fintex Africa; February 12-13, 2020; Kigali, Rwanda
Fintex Africa will cover financial technology (fintech) innovations in Africa, with representatives from over 300 companies and more than 20 countries. Vendors will exhibit developments in
MICROFINANCE PAPER WRAP-UP: “Young People in Africa: Research Showing Opportunities for Financial Service Providers in Morocco, Nigeria and Senegal,” Published by World Savings Banks Institute
By Lise Paaskesen and Steven Peachey, published by the World Savings Banks Institute (WSBI), October 2019, 45 pages, available at
https://www.wsbi-esbg.org/SiteCollectionDocuments/0587_ESBG_BRO_CENTRALREPORT%20(004).pdf
The Scale2Save initiative of WSBI and the Mastercard Foundation is intended to contribute to improving financial services for people aged 15 to 30 years by examining their access to services, support structures and entrepreneurship opportunities in three rapidly growing African countries – Morocco, Nigeria and Senegal. Part of this work is to
MICROCAPITAL BRIEF: US International Development Finance Corporation (DFC) Launches, Combining Efforts of OPIC, USAID’s DCA with Investment Cap of $60b to Focus on Low-income, Lower Middle-income Countries
The government-backed US International Development Finance Corporation (DFC) recently launched with goals to “help businesses expand into emerging markets, foster growth and improve lives in the developing world, while reinforcing US foreign policy and national security interests.” DFC is taking over the work of the Overseas Private Investment Corporation, which had similar goals and an investment cap of USD 29 billion, and the
MICROCAPITAL BRIEF: FMO Invests $7.5m in Acumen Resilient Agriculture Fund to Finance Early-stage Enterprises in Africa
The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently invested USD 7.5 million in the Acumen Resilient Agriculture Fund (ARAF), an entity
MEDIA OF THE MONTH: Digital Exhibit – Exemplary Women Addressing Social, Economic, Environmental Challenges – “Little Big Movement” from BNP Paribas
In celebration of 30 years of supporting microlending, BNP Paribas has created an exhibit showcasing women who are making positive changes in their communities: https://group.bnpparibas/en/microfinance30years.
This is the first of a monthly series from MicroCapital on quality media that might not have fit into our usual news format. Enjoy!
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.
MICROCAPITAL BRIEF: 15 Mobile Money Firms Acquire Licenses from Central Bank of Nigeria
The governor of the Central Bank of Nigeria, Godwin Emefiele, reportedly has announced that, “We have so far provided 15 licenses to several mobile money operators who are working to increase access to finance using digital channels.” This is part of an effort to open 500,000
MICROCAPITAL BRIEF: EBRD Loans $16m to Banco Sabadell Casablanca to Increase Lending to SMEs in Morocco
The UK-based European Bank for Reconstruction and Development (EBRD) recently issued a loan of MAD 165 million (USD 16 million) to the local unit of Spain-based Banco Sabadell SA to increase the financing of small and medium-sized enterprises (SMEs) in Morocco. Founded in 2009, Banco Sabadell Casablanca is primarily involved in Morocco’s SME market. The entity earned a profit of EUR 1.2 million (USD 1.4 million) during 2018. As of June 2019, it held total assets of MAD 1.1 billion (USD 110 million).
MICROCAPITAL BRIEF: FMO Loans $10m to DRC Arm of Nigeria’s Access Bank for SME Lending
The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently issued a loan of USD 10 million to the unit of Nigeria’s Access Bank Plc that operates in the Democratic Republic of Congo (DRC) to increase its financing of small and medium-sized enterprises (SMEs).
MICROFINANCE EVENT: Sankalp Africa Summit; February 27 – 28, 2020; Nairobi, Kenya
The aim for the seventh Sankalp Africa Summit is to “discuss, define, and drive forward the critical levers of entrepreneurial success for the Sustainable Development Goals to be achieved by 2030 in Africa.” The summit will focus on challenges,
MICROFINANCE PAPER WRAP-UP: “A Tale of Two Sisters: Microfinance Institutions and PAYGo Solar;” by Waldron, Sotiriou, Winiecki; published by CGAP
By Daniel Waldron, Alexander Sotiriou and Jacob Winiecki; published by CGAP (the Consultative Group to Assist the Poor); November 2019; 24 pages; available at https://www.cgap.org/sites/default/files/publications/2019_11_Focus_Note_Paygo_Two_Sisters_2.pdf
In Sub-Saharan Africa, the popularity of acquiring access to solar products in pay-as-you-go (PAYGo) formats is growing. This report assesses options available to microfinance institutions (MFIs) to engage with this market, which is largely dominated by new financial technology (fintech) companies. Devices that use PAYGo technology can be enabled and disabled remotely based on the payments their users make to the financiers of the devices.
The report primarily draws on
MICROCAPITAL BRIEF: Tightened Regulation in Zimbabwe Makes Directors, Officers, Shareholders Personally Liable to Microfinance Institution Depositors in Case of Negligence
A new law in Zimbabwe tightens the requirements for microfinance institutions (MFIs) in the country. Each of Zimbabwe’s 205 MFIs will have to pay a yearly fee to maintain its registration with the government. The law also provides for the creation of a Microfinance Advisory Council (MAC), which will report to Minister of Finance and Economic Development on strategic and governance issues. The council membership will include government officials as well as representatives of the banking industry, the microfinance industry and “a reputable
MICROFINANCE PAPER WRAP-UP: “Landscape of Microinsurance in Africa 2018,” published by Microinsurance Network
By Alice Merry, published by the Microinsurance Network, November 2019, 27 pages, available at https://microinsurancenetwork.org/sites/default/files/Landscape%20of%20Microinsurance%20in%20Africa%202018_LR.pdf
This iteration of the Landscape series provides insights into the microinsurance industry based on data from 2017 supplied by 100 insurers in 16 countries in Africa, focusing on changes since a similar study published in 2015. Overall, as of December 2017,
MICROCAPITAL BRIEF: Nigerian Fintech Firm OPay Raises $120m in Equity Funding for Digital Payments, Ride Hailing, Food Delivery
OPay, a Nigerian mobile platform for making payments, arranging car rides and ordering deliveries from restaurants, recently raised USD 120 million in equity from 10 investors to scale up in Nigeria and expand to countries such as Ghana, Kenya and South Africa. OPay’s transportation arm, ORide, facilitates up to