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Monday, July 30, 2012

MICROCAPITAL BRIEF: Goodwell West Africa Microfinance Development, Adlevo, Omidyar, Acumen, Capricorn Fund Expansion of Paga Money Transfers Across Nigeria

Paga, a Nigerian money-transfer service that was launched in February 2011, has received new equity investments both from its previous investor, Goodwell West Africa Microfinance Development Company, a branch of Dutch company Goodwell Investment, and from new investors Adlevo Capital, a Mauritius-based private equity fund manager; Omidyar Network, a US-based nonprofit investment firm; Acumen Fund, a US nonprofit venture fund; and Capricorn Investment Group, a privately owned, US-based investment manager. Continue Reading »

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Monday, July 23, 2012

MICROCAPITAL BRIEF: Overseas Private Investment Corporation to Support Financing SMEs in Emerging Markets Through GATE Impact Investment Platform

The Overseas Private Investment Corporation (OPIC), a US government agency that works with private-sector firms in the US to invest in emerging markets, has selected GATE (Global Alternative Trading Engine) Impact, a New York-based financial services company, to establish the Impact Investment Platform for the Enterprise Development Network, an OPIC effort intended to help finance and otherwise support small and medium-sized enterprises (SMEs) doing business in emerging markets overseas. Continue Reading »

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Wednesday, July 18, 2012

MICROCAPITAL BRIEF: Ingenico Partners with Microfinance Institution Finada of Benin on Branchless Banking

Ingenico, an electronic payment solutions company based in France, has partnered with Finada, a Beninese microfinance institution (MFI), in an effort to offer banking services such as deposits and bill payment through Ingenico terminals at shopping centers, pharmacies and gasoline stations. Continue Reading »

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Wednesday, July 11, 2012

MICROCAPITAL BRIEF: India’s Financial Information Networks and Operation (FINO) Purchases Mobile Payment Business from Nokia

Financial Information Networks and Operation (FINO), an Indian for-profit technology provider to microbanks and other financial service providers, reportedly has purchased the Indian mobile payment services business of Nokia, a Finnish handset provider, for an undisclosed amount of cash. Continue Reading »

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Thursday, June 28, 2012

MICROCAPITAL BRIEF: Mifos Microfinance Software Update “Vinolia I” Adds Accounting Module, Embedded Reports

The Community for Open Source Microfinance, a US-based nonprofit that has taken over leadership of maintaining the open-source microfinance software package Mifos from the US-based Grameen Foundation, recently announced the release of Mifos 2.4. Continue Reading »

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Wednesday, June 27, 2012

MICROCAPITAL BRIEF: Safaricom’s M-Pesa Mobile Money Partners with PesaPoint to Increase Financial Access in Kenya

Safaricom, a Kenyan mobile network operator that runs the mobile money service M-Pesa, recently signed a deal with Paynet Group, an information technology company operating in Kenya and Zimbabwe, allowing customers of the 28 Kenyan institutions on the group’s PesaPoint automated teller machine (ATM) network to move funds via mobile phone. Continue Reading »

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Monday, June 25, 2012

MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Multilateral Investment Fund (MIF), CAF Development Bank of Latin America Issue Call for Proposals for Technologies for Financial Inclusion Program

The Inter-American Development Bank (IDB), a US-based multilateral financial institution, the Multilateral Investment Fund (MIF), an autonomous fund administered by IDB, and the CAF Development Bank of Latin America, a multilateral financial institution formerly known as the Corporacion Andino de Fomento, have released a call for project proposals for the Technologies for Financial Inclusion Program. Continue Reading »

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Thursday, June 21, 2012

MICROCAPITAL BRIEF: USAID, Citi to Bring Mobile Money Technology to Colombia, Haiti, Indonesia, Kenya, the Philippines

The US Agency for International Development (USAID) and Citi, a US-based bank, recently announced a partnership that will focus on increasing financial inclusion in developing countries through “mobile money” technology. Continue Reading »

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Tuesday, June 19, 2012

MICROCAPITAL BRIEF: Invest Africa Launches Website Allowing Individuals to Loan $25 or More to Micro- and Small Enterprises in Benin, Ghana, South Africa

Invest Africa, a micro venture capital platform, recently launched a website to allow individuals to loan money to micro- and small-scale entrepreneurs in Africa. Continue Reading »

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Wednesday, June 6, 2012

MICROCAPITAL BRIEF: Smart Payment Solutions to Offer Debit, Prepaid Cards in Zimbabwe

Smart Payment Solutions, a Zimbabwe-based company, is introducing a cashless banking system that will allow paperless transactions through the use of prepaid and debit cards issued through retail and community agents. The fee structure and related details are unavailable. Continue Reading »

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Tuesday, June 5, 2012

MICROCAPITAL BRIEF: Microinsurance Network Launches Capacity Building Tools Inventory

The Microinsurance Network, an organization based in Luxembourg that aims to promote the development of insurance products for low-income populations, has launched a Capacity Building Tools Inventory providing training modules and handbooks for microinsurance operations. Continue Reading »

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Monday, June 4, 2012

MICROFINANCE EVENT: Oliver Kinross Presents “Cards, Payments & Mobile Banking Africa Summit 2012 and The Mobile Banking Africa Awards 2012”, June 11 – 12, 2012, Johannesburg, South Africa

Event Name: Cards, Payments & Mobile Banking Africa Summit 2012 and The Mobile Banking Africa Awards 2012

Event Date: June 11 – June 12, 2012

Event Location: Johannesburg, South Africa Continue Reading »

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Monday, June 4, 2012

MICROFINANCE EVENT: IBC Asia Presents 6th Annual “Mobile Financial Services Asia Pacific Summit 2012”, September 10 – 12, 2012, The Philippines

Event Name: Mobile Financial Services Asia Pacific Summit 2012

Event Date: September 10 – September 12, 2012

Event Location: Manila, The Philippines Continue Reading »

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Saturday, June 2, 2012

MICROCAPITAL BRIEF: World Bank’s Findex: 16% of Sub-Saharan Africans Transfer Money via Mobile Phones

According to “Measuring Financial Inclusion: the Global Findex Database,” a new World Bank study, 16 percent of the population in sub-Saharan Africa makes money transfers via mobile phones, compared with 3 percent in the rest of the world. Continue Reading »

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Friday, June 1, 2012

MICROCAPITAL BRIEF: Allianz to Use Satellites to Insure Small-scale Farmers in Asia

Allianz, a German-based insurance provider, reportedly announced a three-year pilot project using satellite technology to manage crop insurance sold to rice farmers in Bangladesh, Cambodia, India, Indonesia, Thailand, the Philippines and Vietnam. Continue Reading »

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Thursday, May 24, 2012

MICROCAPITAL BRIEF: Khushhali Bank of Pakistan Takes Branches Online Allowing Customers to Be Served at Multiple Branches

Khushhali Bank, a microfinance institution (MFI) based in Pakistan, reportedly has launched an online banking system that “makes the customer of one branch, a client of the entire bank, enabling him to avail its services irrespective of location.” Continue Reading »

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Wednesday, May 23, 2012

MICROCAPITAL BRIEF: Grameen Foundation, KfW Bankengruppe, Access Africa Fund Invest in Mobile Microfinance Institution Musoni Kenya

Grameen Foundation, a US-based nonprofit that aims to help poor people access business opportunities and financial and information services; KfW Bankengruppe, the German development bank; and the Access Africa Fund, a US-based for-profit limited liability company launched by nonprofit CARE International, have each purchased a 25-percent stake in Musoni Kenya, a Kenyan MFI that provides financial services via mobile phone. Continue Reading »

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Tuesday, May 22, 2012

MICROCAPITAL BRIEF: Online Microfinance Firm Lenddo Receives $8m in Equity to Support Its Lending in The Philippines, Colombia

Lenddo, a Philippines-based online microfinance firm, reportedly has received approximately USD 8 million in equity from undisclosed US investors. Continue Reading »

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