Category: Technology

MICROCAPITAL BRIEF: Financial Information Network and Operations (FINO) of India Looks to Boost Financial Inclusion in Nigeria in Partnership With ZaaEdge Resources

Financial Information Network and Operations (FINO), an India-based for-profit technology provider, and ZaaEdge Resources Limited, a for-profit company that aims to promote financial inclusion technology in Nigeria, have entered into a partnership with the goal of improving financial inclusion in Nigeria. Continue reading

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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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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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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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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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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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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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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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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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