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Friday, August 16, 2013

MICROCAPITAL BRIEF: Western Union, eTranzact Launch Mobile Money Product in Nigeria

The Western Union Company, a US-based financial services company, reportedly is partnering with eTranzact, a Nigeria-based mobile money service provider, to launch a mobile money service in Nigeria. The service is expected to allow customers on the eTranzact mobile money platform, PocketMoni, to receive mobile money transfers from 23 “sender” countries using their mobile phones. Continue Reading »

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Sunday, August 11, 2013

MICROCAPITAL BRIEF: Belgium’s Incofin Investment Management, Amsterdam’s Agora Microfinance Collect Equity Stakes in Cambodia’s Angkor Mikroheranhvatho Kampuchea

Incofin Investment Management, a Belgium-based microfinance investment fund manager, and Agora Microfinance NV (AMNV), an Amsterdam-based microfinance holding company, have acquired minority stakes in Angkor Mikroheranhvatho Kampuchea (AMK), a microfinance institution (MFI) that distributes loans to approximately 300,000 clients in Cambodia [1]. Continue Reading »

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Saturday, August 10, 2013

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $27m Loan to BaltCap Private Equity Fund II for Small, Medium-Sized Enterprises in the Baltic Region

The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a EUR 20 million (USD 26.7 million) loan facility for the BaltCap Private Equity Fund II for investments in equity-related securities of small and medium-sized enterprises (SMEs) and small and mid-cap enterprises (SMCs) in the Baltic region. Continue Reading »

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Friday, August 9, 2013

MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $6m to Asian MFIs ASA Philippines Foundation, Mitra Bisnis Keluarga Ventura of Indonesia

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed a total local-currency equivalent of USD 5.7 million to ASA Philippines Foundation (ASA) and Mitra Bisnis Keluarga Ventura (MBK) of Indonesia. Continue Reading »

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Thursday, August 8, 2013

MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $13m to Indian MFIs Janalakshmi Financial Services Private Limited, Ujjivan Financial Services Private Limited

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed local-currency loans equivalent to USD 13 million to Janalakshmi Financial Services Private Limited (JFS) and Ujjivan Financial Services Private Limited (UFS). Continue Reading »

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Wednesday, August 7, 2013

MICROCAPITAL BRIEF: Muhammad Yunus, Grameen Foundation, Grameen Bank, Brazil Foods (BRF) to Invest in Small Businesses, Genetically-Modified Organisms (GMOs) in Haiti

Nobel Peace Prize winner Dr Muhammad Yunus reportedly announced in June 2013 a new partnership between the Grameen Foundation, a US-based nonprofit of which Yunus serves is a board member, the Grameen Bank, a Bangladesh-based microfinance institution (MFI) founded by Dr Yunus, and Brazil Foods (BRF), a Brazil-based food production and processing company, to offer an unspecified amount of money through microfinance loans to small businesses in Haiti that are engaged in the production of genetically-modified organisms (GMOs), particularly in the poultry industry [1,2]. Continue Reading »

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Tuesday, August 6, 2013

MICROCAPITAL BRIEF: WorldRemit Launches Direct Worldwide Money Transfer Service through Telesom’s Zaad Service

WorldRemit Limited, a UK-based online money transfer service that enables customers to send remittances to family and friends in approximately 100 receiving countries, reportedly has partnered with Somaliland-based communications company Telesom’s Zaad, a mobile banking service that allows customers to use their mobile phones for money transfers and purchases, to launch a mobile money transfer program. Continue Reading »

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Tuesday, August 6, 2013

MICROCAPITAL BRIEF: Money Lenders Association of Ghana Signs Memorandum of Understanding to Provide Members with Microinsurance Products

The Money Lenders Association of Ghana (MLAG), an umbrella organization for 350 money-lending organizations in the country, and Star Microinsurance Services Limited, a company that provides microinsurance products to low-income households in Ghana, reportedly have signed a memorandum of understanding to provide MLAG’s clients with microinsurance products, including a funeral policy, micro-healthcare policy and a child education policy [1]. Continue Reading »

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Thursday, August 1, 2013

MICROCAPITAL BRIEF: Aeon Financial Service Company Limited Launches Consumer Credit Services Subsidiary Aeon Microfinance (Myanmar) Company

Aeon Financial Service Company Limited (Aeon), a Japanese-based credit and financial services provider, recently announced that it has launched Aeon Microfinance (Myanmar) Company, a consumer credit services subsidiary based in the Myanmar State of Yangon. Continue Reading »

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Monday, July 29, 2013

MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $50m to AccessBank of Azerbaijan for Micro-, Small, Medium-sized Enterprises in Rural Areas

AccessBank, an Azerbaijani for-profit microfinance institution (MFI), recently notified MicroCapital that the Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, will provide a USD 50 million five-year senior loan facility to AccessBank. Continue Reading »

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Friday, July 26, 2013

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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Thursday, July 25, 2013

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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Thursday, July 25, 2013

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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Wednesday, July 24, 2013

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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Monday, July 22, 2013

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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Saturday, July 20, 2013

MICROCAPITAL BRIEF: AG Finance of the Philippines Embarks on Initial Public Offering (IPO) of $3.4m

AG Finance, a Philippines-based microfinance institution (MFI), recently announced that it will embark on an initial public offering (IPO) of PHP 150 million (USD 3.4 million). Continue Reading »

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Friday, July 19, 2013

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Siddhartha Bank Limited (SBL) Purchase 440k Shares of Rural Microfinance Development Center (RMDC) of Nepal Via Initial Public Offering (IPO)

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently purchased 300,000 shares at NPR 180 (USD 1.87) per unit from an initial public offering (IPO) by the Rural Microfinance Development Center (RMDC), a Nepal-based wholesale microcredit lender. Continue Reading »

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Thursday, July 18, 2013

MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs

Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network. Continue Reading »

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