Category: Deals

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan Morocco’s Banque Centrale Populaire (BCP), Affiliates $133m for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a loan of up to EUR 100 million (USD 133 million) to Banque Centrale Populaire, a member of the Moroccan mutual banking group Groupe Banque Centrale Populaire (GBCP), as well as to 10 affiliated “regional popular banks”[1]. Continue reading

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MICROCAPITAL BRIEF: Philippine Long Distance Telephone Company Purchases 10% Equity Stake in Rocket Internet for $445m with Eye on Mobile Payments

The Philippine Long Distance Telephone Company (PLDT), a Philippines-based telecommunications company, reportedly has purchased a 10-percent stake in Rocket Internet, a Germany-based web service provider and e-commerce investment firm, for EUR 333 million (USD 445 million). Continue reading

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MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana Partners with Microfinance Institutions (MFIs) in Ghana to Improve Mobile Money Systems

Mobile Telecommunications Network (MTN) Ghana, the Ghanaian arm of South Africa-based MTN, reportedly has partnered with several unspecified microfinance institutions (MFIs) in Ghana to allow the MFIs’ customers to use the MTN Mobile Money service to make loan payments. Continue reading

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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Loan $100m to El Salvador for On-Lending to Micro-, Small and Medium-sized Enterprises (MSMEs)

The Inter-American Development Bank (IDB), a US-based multilateral finance institution operating in Latin America and the Caribbean, reportedly has approved a loan of USD 100 million to promote lending to micro-, small and medium-sized enterprises (MSMEs) in El Salvador. Continue reading

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MICROCAPITAL BRIEF: Janalakshmi Financial Services to Buy $90m in Products, Services From International Business Machines (IBM)

Janalakshmi Financial Services (JFS), a Bangalore-based microfinance institution (MFI) that offers lending and insurance services, and International Business Machines (IBM), a US-based information technology consulting company, have signed a six-year agreement worth INR 5.5 billion (USD 90 million) to provide JFS with IBM products and services in support of the MFI’s proposed growth in India. Continue reading

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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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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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MICROCAPITAL BRIEF: Symbiotics Issues $30m in Bonds to MicroCred China; India’s Arohan, Grameen Koota, Annapura Microfinance

Symbiotics, a Switzerland-based investment company that focuses on emerging markets, has completed bond transactions worth a total of USD 30 million with MicroCred China, an affiliate of the France-based MicroCred and PlaNet Finance groups; Arohan Financial Services Private Ltd., an Indian financial services company; Grameen Financial Services Private Ltd., a Bangalore-based microfinance institution (MFI) also known as Grameen Koota; and Annapurna Microfinance Private Ltd., an MFI based in the Indian state of Odisha. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $8m to Mongolia’s Khan Bank for On-Lending to Support Value Chains That Include Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, reportedly has issued a loan of MNT 15 billion (USD 8 million) to Khan Bank, a commercial bank based in Mongolia, as the final tranche of a total of MNT 47 billion (USD 25 million) to be on-lent by Khan Bank to suppliers of micro-, small and medium enterprises (MSMEs) in Mongolia.  Continue reading

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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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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: Absolute Portfolio Management’s Vision Microfinance Funds Loan $14m to Microfinance Institutions (MFIs) in Armenia, China, India, Peru, Tajikistan

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits in several currencies that total approximately the equivalent of USD 13.5 million to unspecified microfinance institutions (MFIs) in Armenia, China, India, Peru and Tajikistan through its Dual Return Fund-Vision Microfinance and Dual Return Fund-Vision Microfinance Local Currency. Continue reading

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MICROCAPITAL BRIEF: AccessBank Azerbaijan Receives $15m Loan from Green for Growth Fund for Financing Energy-Efficient Projects

AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, has borrowed USD 15 million from the Green for Growth Fund, Southeast Europe (GGF), a European public-private partnership that focuses on improving energy efficiency and promoting renewable energy sources in Southeastern Europe, with the aim of increasing AccessBank’s financing of energy-efficient projects. Continue reading

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MICROCAPITAL BRIEF: World Bank Group (WBG) Loans $12m, Donates $12m to Government of Mozambique for Financial Sector Reform, Including to Boost Financial Inclusion

The World Bank Group (WBG), a US-based multilateral financial institution recently approved a USD 25 million financing package consisting of a loan of USD 12.5 million and a grant of USD 12.5 million to support the “First Programmatic Financial Sector Development Policy Operation (DPO)”[1] of the government of Mozambique. Continue reading

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MICROCAPITAL BRIEF: Mentors International Implements Mambu’s Cloud Banking Software to Support Lending to Small, Medium-sized Enterprises in El Salvador, Guatemala, Honduras, Peru, Philippines

Mentors International, a US-based nonprofit microfinance institution (MFI) that seeks to help poor people in developing countries become self-sufficient, recently has signed on to use the banking software of Mambu, a Germany-based technology company that offers cloud-based banking solutions. Continue reading

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MICROCAPITAL BRIEF: European Investment Fund (EIF) to Guarantee Loans Disbursed by UniCredit Bulbank to Microenterprises in Bulgaria Under Progress Microfinance Facility

The European Investment Fund (EIF), a provider of finance to organizations that lend to micro-, small and medium-sized enterprises (MSMEs) in Europe, and UniCredit Bulbank, a Bulgarian banking unit of UniCredit Group of Italy, have announced a guarantee agreement that will enable UniCredit Bulbank to support increased financial inclusion of approximately 270 microenterprises in the country [1]. Continue reading

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MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Rwanda, Kenya Commercial Bank Group (KCB), Kenya’s I&M Bank, Rwanda’s RSwitch to Offer Cardless ATM Banking Services in Rwanda

Mobile Telecommunications Network (MTN) Rwanda, the Rwandan branch of South Africa-based mobile telecommunications company MTN, reportedly has announced a partnership with Kenya Commercial Bank Group (KCB) and I&M Bank, which both offer corporate and retail banking services in Kenya, and RSwitch, an electronic payment service firm based in Rwanda, to offer cardless automated teller machine (ATM) services in Rwanda. Continue reading

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