Credit Suisse, a Switzerland-based financial services company with operations in 50 countries, recently announced
After Tuesday’s sessions at the the SAM (Semaine Africaine de la Microfinance) conference, Olivier Massart, the General Manager of ADA, and Eric Campos, Managing Director of the Grameen Credit Agricole Microfinance Foundation (GCAMF), signed an agreement to collaborate on their institutions’ service delivery to microfinance institutions. Mr Massart explained that the two Luxembourgish NGOs will work “hand in hand” in areas including the measurement of social impact. ADA specializes in technical assistance, and although GCAMF also provides technical assistance, it is a major local-currency funder of microfinance institutions (MFIs). Both institutions prioritize working with MFIs that serve people in rural areas as well as women in general.
Mr Campos told MicroCapital that a primary motivation for the collaboration is to reduce the workload for MFIs, which are often called upon to submit substantial amounts of overlapping data to funders and other interested parties. He also spoke passionately about how MFIs can maintain market share as fintech
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, is providing
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds lent a total approximately equivalent to USD 31 million to unidentified microfinance institutions (MFIs) in five Asian countries, Bangladesh, Cambodia, India, Kyrgyzstan and Pakistan, as well as three Latin American countries, Ecuador, Mexico and
An entity managed by Switzerland’s responsAbility Investments recently purchased a stake of undisclosed size and price in Fawry, a mobile payments platform in Egypt. Fawry has 20 million customers, whom it enables to pay bills and make retail purchases via mobile phones, credit cards, automatic teller machines, accounts at 23 banks, and point-of-sale machines at 65,000
Developing World Markets (DWM), a fund manager based in the US state of Connecticut, recently announced that
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it will
The Overseas Private Investment Corporation, a self-sustaining agency of the US government, recently agreed to lend USD 20 million to the WaterCredit Investment Fund 3, which will invest in microfinance institutions (MFIs) and other organizations that facilitate the deployment of safe water and sanitation systems. The goal of the fund is to raise USD 50 million to reach 4.6 million people in South and Southeast Asia over
Moeda, a cooperative funded by Brazil-based Cresol, Green Cross Brazil and Unicafes, recently announced the launch
Two firms based in Hong Kong, alternative investor Pacific Alliance Group (PAG) and China-focused Primavera Capital Group, led a recent Series C funding round
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it has provided a loan
UangTeman, an Indonesian firm offering online loans of up to USD 350, recently announced it has secured USD 12 million in Series A funding from
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions and social businesses, recently informed MicroCapital that it has committed to extending two loans denominated in CFA francs to Réseau de Micro-institutions de Croissance de Revenus (RMCR), a savings and credit union in Mali.
The Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), a provider of loans and equity to financial institutions in the Middle East and North Africa, recently announced it will loan USD 20 million to Byblos Bank, a commercial bank based in Lebanon, to on-lend to small and medium-sized enterprises (SMEs).
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it is expanding its “Women in Business” programme to Tajikistan with an investment of USD 10 million.
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it is extending its partnership with QNB Finansbank, a commercial bank in Turkey, with a five-year loan of USD 55 million under EBRD’s “Women in Business” programme.
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services primarily to microfinance institutions, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 3.9 million to KazMicroFinance LLC (KMF) of Kazakhstan, the equivalent of USD 550,000 to Bereke of Kazakhstan, and the equivalent of USD 660,000 to Vasham of Indonesia.
Union Bank of Switzerland (UBS) Wealth Management, a unit of Zurich-based UBS, recently announced that it has raised USD 325 million from its high-net-worth clientele to invest in The Rise Fund, a social impact private equity fund managed by the US-based Texas Pacific Group (TPG).