India’s Ujjivan Small Finance Bank (SFB) recently filed paperwork with the Securities and Exchange Board of India in preparation for an initial public offering (IPO). Ujjivan SFB seeks to raise
Category: South Asia, East Asia and Pacific
MICROCAPITAL BRIEF: India-based Microfinance Institution Spandana Sphoorty Raises $167m in IPO
Spandana Sphoorty Financial Limited, a microfinance institution (MFI) in India backed by Mumbai-based Kedaara Capital, held a three-day initial public offering (IPO) this month. It met its goal of raising INR 12 billion (USD 167 million) to augment its capital base and fund general operations.
Spandana shares debuted at INR 825 (USD 11.44) per share, a discount to their issue price of INR 856 (USD 11.94). At the end of the bidding, the IPO was subscribed by
MICROCAPITAL BRIEF: Beneficial Returns Issues Loan to ATEC Biodigesters to Launch Pay-as-you-go Model in Cambodia, Boosting Usage of Renewable Energy, Organic Fertilizer
ATEC Biodigesters International, an Australia-registered clean technology (cleantech) company that is active in Cambodia, recently accepted an unspecified amount of debt financing from US-based investor Beneficial Returns. ATEC plans to use the loan to launch a
MICROFINANCE PAPER WRAP-UP: “Smallholder Households: Distinct Segments, Different Needs;” published by CGAP
By Jamie Anderson, Ramesh Karrupusamy, Paul Enrico Neumann, Howard Miller and Ram Tamara; published by CGAP; April 2019; 12 pages; available at https://www.cgap.org/sites/default/files/publications/2019_04_Focus_Note_Smallholder_Households_Distinct_Segments_Different_Needs.pdf
To ensure that financial service providers (FSPs) are able to: (a) identify opportunities to serve smallholder households; (b) provide services that are tailored to smallholders’ needs;
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $25m to Kashf Foundation to Expand Microfinance for Women in Pakistan
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently approved a loan of USD 25 million to support the operations of Kashf Foundation, a provider of microfinance services in Pakistan. The loan is intended to help expand access to
MICROCAPITAL BRIEF: Government of India May Waive Microfinance Debt for “Small Distressed Borrowers”
The Indian government reportedly is planning a debt waiver program for “small distressed borrowers” under the country’s insolvency and bankruptcy code. While the criteria under which a borrower would qualify for the program remain under discussion, potential parameters include
MICROCAPITAL BRIEF: Invest in Visions’ IIV Mikrofinanzfonds Lends $21.4m to Microfinance Institutions in Bolivia, Cambodia, Kosovo, Moldova, Tajikistan – Including $11.1m to Eskhata Bank
Germany-based Invest in Visions (IIV) recently loaned EUR 10 million (USD 11.1 million) to Eskhata Bank, a provider of microfinance and traditional financial services in Tajikistan, in an effort to stimulate economic development in the country, including in rural areas. The investment is one of a group of loans totaling
MICROCAPITAL BRIEF: Sahmati Account Aggregator Platform to Allow Borrowers to Share Credit Histories Digitally with Microfinance Lenders in India
Four financial regulators in India recently began work on Sahmati, a digital account aggregator (AA) platform that is to allow loan applicants to encrypt their financial data and transmit it to lenders. Sahmati users will be able to
MICROCAPITAL BRIEF: Government of Malaysia Launches National Strategy for Financial Literacy
Malaysia recently launched a National Strategy for Financial Literacy for the years 2019 through 2023. The strategy outlines the following priority areas:
MICROFINANCE EVENT: Sa-Dhan National Conference; September 16-17, 2019; New Delhi, India
The 20th annual iteration of this event offers sessions such as “Insurance: the Missing Link in Financial Inclusion;” “Augmenting Good Governance and Promoting Respectable Finance;” “Integrating Digital Finance, Strengthening Cybersecurity;” and “Microfinance and Clean Energy: Untapped Opportunity.” Speakers represent organizations including the National Bank for Agriculture and Rural Development
MICROCAPITAL BRIEF: BNP Paribas Disburses 2-year, $7m Loan to Madura Micro Finance of India
BNP Paribas, a France-based bank, recently informed MicroCapital that it has issued a loan to Madura Micro Finance of India for the first time. The bank lent INR 500 million (USD 7 million) to the Chennai-based microfinance institution (MFI), which is scheduled to repay the loan in eight
MICROCAPITAL BRIEF: Flutterwave, Alibaba Group’s Alipay to Offer Digital Payments Between Africa, China
Flutterwave, a US-based business-to-business (B2B) payments service that focuses on Africa, recently began collaborating with Alipay, a payments unit of the Chinese technology conglomerate Alibaba Group, to provide digital payments from Africa to China and
MICROCAPITAL BRIEF: MCE Social Capital Funding $3.3m Loan from Yoma Bank to Proximity Finance for Microfinance in Myanmar
Myanmar-based Yoma Bank recently agreed to lend MMK 5 billion (USD 3.32 million) to Proximity Finance, a microfinance institution (MFI) operating in Myanmar. MCE Social Capital, a US-based NGO, is funding
MICROFINANCE PAPER WRAP-UP: “The Inclusion Imperative: A Call to Action. Recommendations for Policy Makers and Regulators from FDC’s Inclusive Growth and Development Initiatives;” by Shawn Hunter
By Shawn Hunter; published by FDC; May 2019; 25 pages; available at https://docs.wixstatic.com/ugd/309bf5_bc2c238a402e45b0aa3125a058f136b6.pdf
Aimed at policy makers and regulators, this report sets out 11 recommendations intended to aid “inclusive growth and development efforts” in the Asia-Pacific region, in line with the financial inclusion priorities
MICROFINANCE EVENT: Uniglobal Asia Pacific Microfinance Forum; October 22-23, 2019; Singapore
The second annual iteration of this conference will focus on the influence of financial technology (fintech) on the barriers to entry, efficiency and costs of microfinance institutions (MFIs), including how to implement and optimize various technologies. Sessions will cover skills such as
MICROCAPITAL BRIEF: Microfinance Institution VisionFund, UK Department for International Development (DFID) to Expand Mobile Banking in Rural Myanmar
VisionFund Myanmar, a microfinance institution (MFI) operating within the nonprofit VisionFund International, is partnering with the UK’s Department for International Development (DFID) on a USD 1.7 million project to expand mobile banking in Myanmar. The effort is intended to provide
MICROCAPITAL BRIEF: Woman-owned Fintech Tez of Pakistan, Green Girls Organization of Cameroon Win $200k in Visa Everywhere Initiative
Tez Financial Services, a private firm in Pakistan, and Green Girls Organization, an NGO in Cameroon, each recently won prizes of USD 100,000 in the inaugural iteration of the Women’s Global Edition of the Visa Everywhere Initiative, a program of US-based payments technology company Visa that is intended to
MICROCAPITAL BRIEF: PBU Invests $15m in Nordic Microfinance Initiative’s NMI Fund IV to Invest in Women in Africa, Asia
Paedagogernes Pension (PBU), Denmark’s Pension Fund of Early Childhood Teachers, recently invested approximately USD 15 million, denominated in kroner, in NMI Fund IV, which is managed by the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions in developing countries.
The goal of the investment is