The German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft (DEG) recently lent USD 750,000 to Husk Power Systems, an India-based supplier of small-scale electricity generation and distribution networks, to construct
Category: Deals
MICROCAPITAL BRIEF: African Fintech Nala Expands Remittance Service to EU, Launches Business Platform
Nala, a payments company launched in Tanzania in 2018, recently added 19 EU nations to the range of markets from which its users may send money transfers. The app targets
MICROCAPITAL BRIEF: B2B Fintech Clowd9 Chooses Netcetera for Payments Security
Clowd9, a UK-based payment processing platform, recently hired the Switzerland-based software company Netcetera to augment its digital payment security. Clowd9 connects
MICROCAPITAL BRIEF: Fintech Robos, General Arab Insurance Federation (GAIF) Partner on Events Promoting Financial Literacy, Savings, Social Insurance, Pensions
The Egypt-based General Arab Insurance Federation (GAIF) recently agreed to support Bahrain-based Fintech Robos in its production of the following annual events: (1) Arab Savings & Financial Literacy Conference; (2) the Arab Pension & Social Insurance Conference; and (3) the Arab Actuarial Conference. Fintech Robos CEO Ebrahim K Ebrahim noted that one of the goals of the partnership is
MICROCAPITAL BRIEF: FMO, Proparco Lend $125m to NMB for MSME, Agriculture, Green Financing in Tanzania
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently led a senior loan package of USD 125 million in favor of Tanzania’s National Microfinance Bank (NMB). NMB is a commercial bank offering
MICROCAPITAL BRIEF: MicroVest Loans $4.2m to RoCredit for SME Financing in Romania
US-based asset manager MicroVest recently reported lending EUR 4 million (USD 4.25 million) to RoCredit, a nonbank financial institution serving small and medium-sized enterprises (SMEs) in Romania. Established in 2007 and
MICROCAPITAL BRIEF: EBRD Loans KICB $7m for MSME Financing in Kyrgyzstan
The multilateral European Bank for Reconstruction and Development (EBRD) recently lent the local-currency equivalent of USD 7 million to Kyrgyz Investment and Credit Bank (KICB) to finance micro-, small and medium-sized enterprises (MSMEs) in Kyrgyzstan. The loan is part of
MICROCAPITAL BRIEF: Zanaco Borrows $50m from BII to Support MSMEs, Climate-change Mitigation in Zambia
Zambia National Commercial Bank (Zanaco) recently borrowed USD 50 million from British International Investment (BII), the UK government’s development finance institution, with the goal of funding micro-, small and medium-size enterprises (MSMEs) as well as climate-focused initiatives such as renewable energy generation. BII is looking to
MICROCAPITAL BRIEF: Lulalend Raises $4.7m for SMEs in South Africa via Symbiotics Social Bond
Lulalend, a funder of small and medium-sized enterprises (SMEs) in South Africa, recently partnered with Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, to issue bonds supplying USD 4.7 million to Lulalend. The bond issue is deemed socially responsible per the
MICROCAPITAL BRIEF: Investors Buy $173m in Equity in Fusion Microfinance of India; IPO Allows Exits by Early Shareholders, Promoters
In the run-up to the recent IPO by India’s Fusion Microfinance, 17 investors paid approximately INR 3.3 billion (USD 40 million) for equity stakes in the microlender. The actual IPO was oversubscribed by a factor of two, as Fusion raised INR 6 billion (USD 72 million) in fresh cash, and early investors and promotors sold shares for a total of INR 5 billion (USD 61 million). Among those selling their entire holdings in the company was
MICROCAPITAL BRIEF: DFC to Support Mastercard Community Pass Program to Expand Access to Digital Services in Africa, India
The International Development Finance Corporation (DFC), which is backed by the US government, recently agreed to collaborate with the US-based financial technology firm Mastercard to strengthen Mastercard’s Community Pass program. Community Pass supports digital connectivity, smartphone penetration and identification systems in rural parts of India, Kenya, Mauritania, Mozambique, Tanzania and Uganda. DFC has agreed to invest up to USD 50 million in
MICROCAPITAL BRIEF: MicroVest Loans $4.5m to Financiera FAMA for MSMEs in Nicaragua
US-based asset manager MicroVest recently reported disbursing a loan of USD 4.5 million to Financiera FAMA, a microfinance institution (MFI) that was founded as Fundación para el Apoyo a la Microempresa. Established in 1991 and headquartered in the city of Managua, FAMA provides
MICROCAPITAL BRIEF: MICT Buys Tingo, Expands Agritech to Ghana & Malawi, Connecting More Farmers with International Markets
MICT, a US-based, publicly traded provider of financial and technology services in Eurasia and the US, recently closed its purchase of Tingo, a US-based provider of technology services to farmers in Africa. Meanwhile, Tingo has expanded its operations into Ghana and Malawi. The firm’s services include access to pricing and markets – domestic and international – as well as an escrow
MICROCAPITAL BRIEF: Woman-owned Fintech Owoafara Accepts Equity Investment from ShEquity to Expand Financial Inclusion via Apps, Payment Cards in Nigeria
Owoafara, a woman-owned financial inclusion firm in Nigeria, recently sold an equity stake of undisclosed size and price to ShEquity, a Mauritius-based investor in African firms owned and led by women. Owoafara’s services include payment cards, a general-purpose financial services app Fara and a peer-to-peer lending app Rouzo. Fara facilitates savings, payment, lending, insurance and pension services.
Owoafara CEO Tale Alimi noted the firm’s plans to expand in West Africa, adding, “Eighty percent of our current loan book are to
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends $525k to Smart Credit for Microfinance in Moldova
Smart Credit, a microfinance institution (MFI) operating 12 branch locations in Moldova, recently accepted a local-currency loan approximately equivalent to USD 525,000 from the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation. Founded in 2010, Smart Credit offers
MICROCAPITAL BRIEF: Agritech SuperZop Nets $2.7m in Equity from Incofin India Progress Fund to Connect More Farmers, Retailers
Incofin Investment Management of Belgium recently invested USD 2.7 million to purchase a stake of undisclosed size in SuperZop, a technology firm that helps farmers and mills sell their whole grain, flour and other staples to restaurants and shops in India. SuperZop also packages food under its Khetika brand and provides
MICROCAPITAL BRIEF: Beneficial Returns Invests in Grupo Murlota to Expand Training, Incubation Capacity for Women Raising Chickens, Selling Organic Eggs in Rural Mexico
Grupo Murlota, a woman-owned provider of chickens and related supplies, financing and training in Mexico, recently borrowed an undisclosed sum from Beneficial Returns, a US-based lender to social enterprises in Latin America and Southeast Asia. The loan will help fund a new building at which Murlota will
MICROCAPITAL BRIEF: Cresol Baser of Brazil Borrows $12m from Huruma Fund for Farm Lending, Green Product Development, Impact Measurement
Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s first investment in Brazil, lending EUR 12 million (USD 12.1 million) to Cresol Baser, a cooperative unit of Cresol, which provides savings, loans, training and insurance to individuals, farms and other businesses. The funding is earmarked for agricultural lending, including to help farmers adapt to climate change. Huruma plans to