MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Lending $5m to Accion’s Early Dawn Microfinance to Support Women Entrepreneurs in Myanmar

The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently agreed to loan Myanmar-based Early Dawn Microfinance Company Limited USD 5 million. Dawn lends to low-income women in living in urban and peri-urban areas.

MICROCAPITAL BRIEF: Ant Financial, Emtek to Launch Mobile Payment Service in Indonesia

Ant Financial Services Group, a member of China’s Alibaba Group and the parent company of Alipay, and Elang Mahkota Teknologi (Emtek), an Indonesia-based media company, recently announced plans to launch a mobile payment platform in Indonesia. The new service will run on BlackBerry Messenger (BBM)

MICROCAPITAL BRIEF: Advans Myanmar Disburses First Group Microfinance Loan from Branch in Amarapura

The Advans Group, which operates a network of 10 microfinance institutions from offices in France and Luxembourg, recently opened the first branch of Advans Myanmar in the city of Amarapura. Advans Myanmar is offering loans of up to MMK 1 million (USD 740) to groups of three to six traders and salaried workers.

MICROFINANCE PUBLICATION ROUND-UP: Sectoral Migration Among Microenterprises in Madagascar, Tanzania Postal Bank’s Popote Digital Financial Services, Insurance Regulation in the Philippines

“Financial Constraint, Entrepreneurship and Sectoral Migrations: Evidence from Madagascar,” by Pierrick Baraton and Florian Léon, published by Making Finance Work for Africa, July 2016, 50 pages, available at https://www.mfw4a.org/nc/knowledge-center/resources/documents/documents-details/file/financial-constraint-entrepreneurship-and-sectoral-migrations-evidence-from-madagascar.html

The authors of this paper analysed data from 3,017 micro- and small enterprises that were clients of a microfinance institution (MFI) in Madagascar between 2008 and 2014.

MICROCAPITAL BRIEF: India’s Microfinance Institutions Network (MFIN) Launches Financial Literacy App in 5 Languages

The Microfinance Institutions Network (MFIN), a self-regulatory organization of 53 Indian microfinance and non-banking financial institutions, recently launched a financial literacy app in English, Hindi, Marathi, Tamil and Telugu. The app offers users their credit histories, interest rates, payment cycles

MICROCAPITAL BRIEF: Dragon Capital, Ruby Hill Launching Microfinance Institution in Myanmar

Dragon Capital Group, a Vietnam-based investment company with operations in Asia and Europe, and Ruby Hill Financial, a Myanmar-based financial services provider, recently announced that they are launching a microfinance institution called Ruby Hill Microfinance in the city of Yangon, Myanmar. Ruby Hill Financial

MICROCAPITAL BRIEF: Iceland’s Creditinfo Launches Credit Bureau in Azerbaijan; 21 Local Financial Institutions Hold Equity Stakes

Creditinfo Group, an Iceland-based operator of credit reporting firms in 25 markets worldwide, recently launched a credit bureau in Azerbaijan that it co-owns with 21 financial institutions in the country. The International Finance Corporation (IFC), a member of the World Bank Group, participated in developing

MICROFINANCE EVENT: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion; May 22 – 23, 2017; Kuala Lumpur, Malaysia; Asian Banking School Training for Practitioners; May 24 – 26, 2017

Event Name: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion

Dates: May 22 – May 23, 2017

Location: Kuala Lumpur, Malaysia

Summary of Event: This symposium will consist of discussions and presentations on scaling up through innovative channels, deploying digital credit, design thinking, using “big data,” and credit risk assessment and risk management [1]. Following the symposium, the Asian Banking School is offering a three-day training

MICROCAPITAL BRIEF: Ant Financial, Ayala Buy Equity Stakes in Globe’s Mynt, Operator of the Philippines’ GCash, Fuse Lending

Ant Financial Services Group (Ant Fin), a member of China’s Alibaba Group, and Ayala Corporation, a Philippine conglomerate, recently announced their purchases of minority stakes in Globe Fintech Innovations, a financial technology (fintech) affiliate of Globe Telecom that uses the trade name Mynt. Mynt operates GCash, a mobile money

MICROCAPITAL BRIEF: World Bank Providing $130m for Financial Inclusion Effort in Pakistan

The government of Pakistan recently announced the start the Pakistan Financial Inclusion and Infrastructure Project with funding totaling USD 130 million from two arms of the World Bank, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Three Pakistani organizations will carry out the project: the Pakistan Microfinance Investment Company, a new organization funded by

MICROCAPITAL BRIEF: C-Quadrat’s Vision Microfinance Funds Loan $46m, Largely in Asia, Panama, Tanzania

C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 46 million to unidentified providers of financial services in Cambodia, India, Panama, Sri Lanka, Tanzania and

MICROCAPITAL BRIEF: Tala Raises $30m in Series B Equity from IVP, Ribbit Capital, Existing Investors to Expand Mobile Phone Microlending in Asia, Latin America

Tala, a US-based microlender serving East Africa and Southeast Asia via mobile phone apps, recently raised USD 30 million through its Series B equity round in order to expand its services into South Asia and Latin America. Tala provides loans between USD 10

MICROCAPITAL BRIEF: CreditAccess Asia Raises $103m in Equity from Investors Including Asian Development Bank, Istituto Atesino di Sviluppo, Olympus Capital

CreditAccess Asia, which is based in the Netherlands and provides microfinance services in four countries in Asia, recently acquired new equity investments totaling EUR 95 million (USD 103 million). The investors include the Asian Development Bank (ADB) and Italian private equity firm Istituto Atesino di Sviluppo. Olympus Capital Asia, a previous equity investor in CreditAccess, was among the investors increasing their stakes through the conversion

MICROCAPITAL BRIEF: Incofin’s agRIF Raises $27m for Financial Inclusion in Agriculture from Investors Including AXA, KBC, Korys, Invest in Visions, MRBB

Belgium’s Incofin Investment Management recently informed MicroCapital that its agRIF, the successor to the Rural Impulse Funds I and II, has raised USD 27 million in unspecified portions from multiple investors, bringing its size

MICROFINANCE PUBLICATION ROUND-UP: Alternative Financing in Africa, Middle East; Interoperability of Digital Financial Systems; Financial Inclusion in Kerala, India

“The Africa and Middle East Alternative Finance Benchmarking Report”; by The Cambridge Centre for Alternative Finance (CCAF) and Energy4Impact; published by CCAF; February 2017; 64 pages; available at https://www.scribd.com/document/338995486/CCAF-Africa-and-Middle-East-Alternative-Finance-Report-2017#download&from_embed/

This report focuses on assessing the types and prevalence of alternative financing in Africa and the Middle East.

MICROCAPITAL BRIEF: Quona Capital Management Raises $141m for Accion Frontier Inclusion Fund from Chase, MaserCard, AXA, Prudential, MetLife

Quona Capital Management, which is based in the US city of Washington, recently announced that it has raised USD 141 million from multiple investors for the Accion Frontier Inclusion Fund (AFIF), a fund backed by the US-based nonprofit Accion and managed by Quona Capital. The participating funders are US-based corporates including JP Morgan Chase & Co., MasterCard, Prudential Financial

MICROCAPITAL BRIEF: Whole Foods Market’s Whole Planet Foundation Raises $2.2m to Support Microfinance Institution Partnerships in 11 Countries, Including Expanding Work with Grameen America to New York, Miami

The Whole Planet Foundation, an affiliate of US-based grocer Whole Foods Market, announced it has secured donations of USD 2.2 million (as of March 17) towards its goal of raising USD 3.2 million by the end of March 2017 to grant for microlending through

MICROCAPITAL BRIEF: TriLinc Approves $36.8m in Term Loans, Trade Finance for SMEs in Africa, Latin America, Southeast Asia

TriLinc Global Impact Fund (TriLinc) recently announced that it has approved the disbursal of USD 36.8 million to fund term loans and trade finance transactions for small and medium-sized enterprises (SMEs). The term loans will be disbursed to 10 different companies