Category: Deals

MICROCAPITAL BRIEF: International Finance Corporation, Microfinance Center of Poland Hire Cultural Consultant in Financial Literacy in Azerbaijan

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced a partnership with the Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, a 110-member network based in Poland, to attempt to improve financial literacy in Azerbaijan. Continue reading

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MICROCAPITAL BRIEF: Gulf African Bank of Kenya to Receive Advisory Services Under International Finance Corporation’s Africa Micro, Small, and Medium Enterprise Finance Program

The International Finance Corporation, the private-investment arm of the US-based World Bank Group, has announced that the Gulf African Bank (GAB), which offers Shariah-compliant products and services in Kenya, has become a member of its Africa Micro, Small, and Medium Enterprise Finance Program. Continue reading

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MICROCAPITAL BRIEF: Russian Payday Lender Bistrodengi Selects Diasoft’s Flextera Banking Software

Bistrodengi, a Russian payday lender that offers payday loans of RUB 1,000 to RUB 16,000 (USD 28 to USD 453) for periods of seven to 16 days, recently selected Flextera Loans, a core banking solution from Diasoft, to support its lending and accounting operations. Diasoft’s software is used by approximately 340 financial institutions worldwide. The company is headquartered in Russia, and it also has offices in China, Cyprus, Ukraine and the United Kingdom. Continue reading

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MICROCAPITAL BRIEF: Lok Capital Sextuples Investment With Partial Exit from Indian “Socio-commercial” Outsourcing Firm RuralShores

Lok Capital (Lok), a Mauritius-based venture fund focused on the microfinance and social business sectors in India, reportedly has sold part of its equity stake in RuralShores Business Services, an India-based company offering business process outsourcing to public and private clients in the microfinance, banking, insurance, telecom and information technology sectors. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Allocates $5.3m to Test, Develop Social Impact Bond Market in Latin America, Caribbean

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced that it has allocated USD 5.3 million for the testing, development and implementation of social impact bond (SIB) programs in Latin America and the Caribbean. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $69m to UniCredit Bank Serbia

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently announced that it is considering loaning EUR 50 million (USD 69 million) to UniCredit Bank Serbia, a subsidiary of Italy-based financial services company UniCredit Group. Continue reading

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MICROCAPITAL BRIEF: EBRD, EFSE to Loan $16m to FINCA Azerbaijan to Support Micro-, Small, Medium-sized Enterprises (MSMEs), Agricultural Lending

Through two unrelated transactions, the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network, received local-currency loans totaling USD 16 million from the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, and the European Fund for Southeast Europe (EFSE), a government-backed microfinance investment vehicle based in Luxembourg. Continue reading

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MICROCAPITAL BRIEF: Raiffeisen Bank Arranges $60m Loan to Microfinance Institution Access Bank of Azerbaijan

Raiffeisen Bank International, an Austria-based parent organization of financial service providers in 15 countries, has arranged a syndicated loan of USD 60 million with participation from 16 banks to AccessBank, a microfinance institution (MFI) in Azerbaijan. Continue reading

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MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya

The Communications Commission of Kenya (CCK), the regulatory authority for the telecommunications sector of the country, recently granted mobile virtual network operator (MVNO) licenses to Finserve Africa Limited, a subsidiary of Kenya’s Equity Bank, and two Kenyan mobile money transfer services, Tangaza Mobile Pay Limited and Zioncell Kenya Limited. Continue reading

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MICROCAPITAL BRIEF: Seven International Lending Institutions Launch Council on Smallholder Agricultural Finance (CSAF)

The Council on Smallholder Agricultural Finance (CSAF), an alliance focused on creating a sustainable financial market for small agricultural businesses, recently was launched by seven international lending institutions at the 11th Skoll World Forum on social entrepreneurship in Oxford, United Kingdom. Continue reading

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MICROCAPITAL BRIEF: State Bank of Pakistan (SBP), World Bank (WB) to Develop National Financial Inclusion Strategy for Pakistan

The State Bank of Pakistan (SBP), the nation’s central banking authority, and the World Bank (WB), a US-based multilateral institution, reportedly have announced a partnership to develop a National Financial Inclusion Strategy (NFIS) for Pakistan. Continue reading

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MICROCAPITAL BRIEF: Cooperative Rural Development Bank (CRDB) of Tanzania, International Finance Corporation (IFC) Sign $75m Agreement to Support Small, Medium-Sized Businesses Including Those Owned by Women, Involved in Agriculture

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, recently signed an agreement worth USD 75 million to support financing to small businesses in the country, particularly agribusinesses and companies owned by women. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), IFC Capitalization Fund Invest $15m in Subordinated Debt in Nicaragua-based Banco de Finanzas (BDF)

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced a USD 15 million subordinated bond investment in Banco de Finanzas, a Nicaragua-based commercial bank that is a wholly-owned subsidiary of Panama-based bank holding company Grupo Banco de Finanzas. Continue reading

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MICROCAPITAL BRIEF: Macedonia-based Aspekt to Supply Microfinance Software to Georgia-based Microlender Credit Plus

Aspekt, a Macedonia-based information and computer technology company, recently signed a deal to provide their microfinance portfolio management software tool, “Microfinance Software Solution,” to Credit Plus, a Georgia-based microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast

Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits Support Worth $300k to Back Newly Licensed AB Bank Rwanda, 8th Member of Access Microfinance Holding

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has announced a deal worth USD 300,000 to support AB Bank Rwanda Limited, which was licensed in December 2013 to operate as a microfinance bank (MFB)[1][2]. Continue reading

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MICROCAPITAL BRIEF: EIF, EBRD, European Commission, DEG to Allocate $19.8m for Small, Medium-Sized Enterprises (SMEs) Via Western Balkans Enterprise Expansion Fund (ENEF)

The European Investment Fund (EIF), a public-private partnership that provides risk capital to small and medium-sized enterprises (SMEs), and the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced an agreement to allocate a total of EUR 14.5 million (USD 19.8 million) to support investing in SMEs in the Western Balkans region through the Western Balkans Enterprise Expansion Fund (ENEF). Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Lends $4m to Arvand of Tajikistan, Bina Artha Ventura of Indonesia, Thaneakea Phum of Cambodia

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs), recently announced the disbursement of the first tranche of a 54-month loan of EUR 1.04 million (USD 1.43 million) to Arvand, a financial institution that provides microcredit to low-income individuals in Tajikistan. Continue reading

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