Category: Technology

MICROCAPITAL BRIEF: Mobile Bank Accounts in Pakistan Increase 25% to 1.8m over 3 Months

The State Bank of Pakistan (SBP), the central banking authority of the country, recently released data indicating the number of mobile bank accounts in Pakistan increased 25 percent to 1.8 million during the three months ending September 30, 2012. Continue reading

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MICROCAPITAL BRIEF: Millicom, Cherie Blair Foundation for Women, US Agency for International Development Offer Financial Literacy Training, Loans to Rwandan Women to Become Tigo Mobile Money Agents

Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo; the Cherie Blair Foundation for Women, a UK-based charity promoting women’s entrepreneurship; and the United States Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance, have partnered to assist 4,000 women in Rwanda  to become Tigo mobile money agents. Continue reading

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MICROCAPITAL BRIEF: Diamond Bank of Nigeria Introduces ‘Diamond-in-Motion’ Mobile Banking Truck

Diamond Bank Public Limited Company (PLC), a commercial bank in Nigeria, recently launched “Diamond-in-Motion”, a mobile banking service truck that will allow customers to open new accounts, pay bills and use a automated teller machine (ATM) as well as make deposits and withdrawals. Continue reading

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MICROCAPITAL BRIEF: Banks in Indonesia Claim Readiness for Branchless Banking, Pending Regulation Issuance

Banks across Indonesia have reportedly stated that their information technology systems will be ready to handle branchless banking by 2013 pending the issuance of authorizing regulation from Bank Indonesia (BI), the country’s central bank and financial regulator. Continue reading

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MICROCAPITAL BRIEF: Globe Telecom of the Philippines to Expand GCash Mobile Services to Point of Sale (POS)

Globe Telecom, a telecommunications company in the Philippines, is reportedly planning on expanding its GCash mobile services to include point-of-sale (POS). Continue reading

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MICROCAPITAL BRIEF: TransferTo Partners with AT&T, Taiwan Mobile, Korvac Holdings to Allow Customers to Send, Receive Phone Airtime in the Americas and Asia

TransferTo International, a telecommunications company incorporated in Singapore, recently partnered with AT&T, a US-based telecommunications provider, to allow AT&T mobile phone subscribers in the US to execute TransferTo International Top-Ups via short message service (SMS), also known as text messaging. Continue reading

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MICROCAPITAL BRIEF: President Al Bashir, Central Bank of Sudan (CBOS) Plan 500 New Microfinance Services Centers to Employ 1,000 Graduates

President Al Bashir of Sudan recently met with the Governor of the Central Bank of Sudan (CBOS), Mohamed Khair Alzubeir, to discuss the state of the Sudanese economy as well as specifics of a planned expansion of banking services throughout the country. Continue reading

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MICROCAPITAL BRIEF: Renaissance Credit (RenCredit) Launches in Nigeria; Will Offer Deposits, Point-of-Sale Consumer Loans Using T24 Banking Software from Temenos of Switzerland

Renaissance Credit (RenCredit), a new microfinance institution (MFI) offering deposit services and consumer loans in Nigeria, recently began operations using T24, a “cloud-hosted core banking system” offered by Temenos, a Geneva-based banking software provider. Continue reading

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MICROCAPITAL BRIEF: Smart Communications to Launch Mobile Microfinance Service Provider mBank Philippines

Smart Communications, Inc. (Smart), a wireless service provider and subsidiary of the publicly-traded Philippine Long Distance Telephone Company (PLDT), will be launching mBank Philippines, which is billed as the country’s first microfinance bank to offer all of its services only via a mobile platform. Continue reading

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MICROCAPITAL BRIEF: Inklas of Nigeria Automates 136 Ghanaian Rural and Community Banks

ARB Apex Bank, a government-backed institution that inspects and funds rural and community banks (RCBs) under the supervision of the Bank of Ghana, through a contract with Inklas Computers Limited, a Nigerian company that specializes in information technology and financial systems integration, has completed the automation of 136 RCBs with 700 branches throughout Ghana. Continue reading

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MICROCAPITAL BRIEF: Waseela, Mobilink Partner to Offer Branchless Banking in Pakistan

Waseela Microfinance Bank Limited (WMBL), subsidiary of Egypt-based telecommunications company Orascom Telecom Holding (OTH), and Mobilink, an Islamabad-based cellular service provider managed by OTH, recently received approval from the State Bank of Pakistan to offer branchless banking in the country. Continue reading

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MICROCAPITAL BRIEF: US-based MoreMagic, Splash Expand Mobile Money Services in Sierra Leone

Splash Mobile Money Limited, a mobile financial service provider based in Sierra Leone, and MoreMagic Solutions, a US-based technology provider that developed Splash’s service platform, have extended the Splash network in Sierra Leone with the addition of DStv, a satellite television network in the country; Access Bank and Ecobank Microfinance, two commercial banks; and a network of 50 rural banks set up by both the United Nations International Fund for Agricultural Development (IFAD) and the Ministry of Agriculture. Continue reading

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MICROCAPITAL BRIEF: African Development Bank (AfDB) Microfinance Capacity Building Fund (MCBF) Offering up to $500k per Institution

The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently announced its second call for proposals for the Microfinance Capacity Building Fund (MCBF), which was launched by AfDB and the government of Spain to expand the outreach of the African financial sector. Continue reading

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SPECIAL REPORT: European Microfinance Platform Remittances Action Group, GIZ, PHB Development Release Handbook: “Financial Literacy for Remittances and Diaspora Investments”

This afternoon, the Remittances Action Group of the European Microfinance Platform (e-MFP) met to share member experiences, plan future action steps and announce the release of the “Financial Literacy for Remittances and Diaspora Investments” handbook. The document, which is the first of three planned outputs to be completed by the group, was published by German bilateral development agency GIZ, with participation from PHB Development, a Belgium-based consulting firm, and e-MFP, which is a Luxembourg-based membership organization. As the handbook was released as a compact disc and on paper, it is not available online other than via the above link as of today. Details on the other proceedings of the meeting, such as the other planned outputs of the Remittance Action Group and news from action group members, are slated for publication by MicroCapital in a separate brief. Continue reading

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