Category: Technology

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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MICROCAPITAL BRIEF: Applied Industrial Logic Adds Microinsurance Capabilities to Open-source Software “OpenQuote”

Applied Industrial Logic (AIL), UK-based information technology company specializing in serving the insurance market, recently informed MicroCapital that it is currently building OpenQuote 2.0, an open-source software package with features intended to be of particular interest to microinsurance firms including microinsurance-specific policy administration, claims management, reporting and distribution channel support. Continue reading

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MICROCAPITAL BRIEF: Vodafone’s M-Pesa Mobile Money Service to Expand International Options with HomeSend Partnership

Vodafone, a UK-based telecommunications company, and Safaricom, a Kenya-based cell phone service provider, reportedly plan to expand its mobile money program M-Pesa by linking it with HomeSend, a Belgian-based service that increases the inter-compatibility of money transfer systems. Continue reading

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MICROCAPITAL BRIEF: World Council of Credit Unions, Boom Financial to Offer Mobile Banking to Credit Unions Worldwide

The World Council of Credit Unions (WOCCU), a US-based trade association and support organization for credit unions, and Boom Financial, a US-based mobile banking, payments and money transfer provider, have partnered in an effort to assist credit unions worldwide in offering mobile banking services to their customers. Continue reading

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MICROCAPITAL BRIEF: Appui au Developpement Autonome, BSB, Confederation des Institutions Financieres Partner on Microinsurance in West Africa

Appui au Developpement Autonome (ADA), a Luxembourg-based nonprofit organisation, recently partnered with Confédération des Institutions Financières (CIF), a Burkina-Faso-based association of six West African savings cooperatives, to implement microinsurance projects across five countries in West Africa. Continue reading

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