MICROCAPITAL BRIEF: Grab Offering Insurance, Training People with Disabilities as Mobile Money Agents in Indonesia

Grab, a technology company founded in Singapore, recently partnered with Indonesia’s Communications and Information Ministry and the Indonesian Inclusive Connections Community, an NGO also known as Konekin, to found a program to train disabled people to

MICROCAPITAL BRIEF: Mastercard Buying 3.8% Equity Stake in Mobile Money Unit of Airtel Africa for $100m

Mastercard, a US-based financial services company, recently agreed to pay USD 100 million for a 3.75-percent equity stake in Airtel Mobile Commerce, a subsidiary of the telecommunications company Airtel Africa that uses the trade name Airtel Money. Mastercard and Airtel Money plan to deepen their ongoing partnership in the areas of

MICROCAPITAL BRIEF: Fintech Appzone of Nigeria Raises $10m in Funding Round Led by CardinalStone Capital Advisers

Appzone, a Nigeria-based financial technology firm, recently raised USD 10 million (NGN 3.8 billion) in its Series A round of funding, which was led by Nigeria-based private equity investor CardinalStone. The other participating investors were US-based Lateral Investment Partners and three Nigeria-based firms:

MICROCAPITAL BRIEF: Comviva, Logiq Tie Up on Mobile Money in Indonesia

US-based Logiq Incorporated recently launched its PayLogiq digital wallet in Indonesia, using the Mobiquity Pay platform of Comviva Technologies, which is controlled by India’s Mahindra Group. Logiq also leverages Comviva’s Yabx service to lend to merchants and finance their customers’ purchases. Among Logiq’s distribution partners is

MICROCAPITAL BRIEF: Belize Bank, Wallet Factory to Launch Digital Payment Service E-kyash

Wallet Factory, a financial technology company based in the UK, recently partnered with Belize Bank Limited, a commercial bank in Belize, to create E-kyash, a digital payment platform aiming to ease financial transactions for people without bank accounts. E-kyash’s offerings include utility bill payments, retail payments via

MICROCAPITAL BRIEF: Pngme, Data Processor for Lenders in Africa, Raises $3m in Seed Equity Round Led by EchoVC, Lateral Capital, Radical Ventures, Raptor Group

Pngme, a US-based financial data firm focused on African markets, recently announced it has closed its seed fundraising round at a volume of USD 3 million. Pngme offers an application program interface (API) that allows financial institutions to access and analyze

MICROCAPITAL BRIEF: DFC to Guarantee $10m in Borrowing by Trine to Invest in Solar Power in Latin America, Caribbean

The US government’s International Development Finance Corporation (DFC) recently agreed to cover half of potential losses on USD 20 million being raised by Trine AB, a Sweden-based solar investment platform, to support industrial solar ventures as well as mini-grids in Latin America and the Caribbean. This funding is sufficient to supply renewable energy to approximately 600,0

MICROCAPITAL BRIEF: IDB Launches Program to Connect Women’s MSMEs in Latin America, Caribbean with Value Chains, International Trade

The Inter-American Development Bank (IDB), a multilateral financial institution that promotes economic development in Latin America and the Carribbean, has partnered with six large companies to launch a program promoting the integration of women-owned businesses “into foreign trade and regional value chains” as a way to: (1) stimulate the region’s economy as it adjusts to the COVID-19 pandemic; and (2) increase job opportunities and decrease economic and other gaps between men and women. The private firms, whose roles have yet to be clearly defined, are Ireland-based Accen

MICROCAPITAL BRIEF: Apis Partners, JG Summit Commit $108m for Minority Equity Stakes in TymeBank to Expand Microinsurance, Payment Card Services to Individuals, SMEs in South Africa

TymeBank, the South African unit of Singapore-based TymeGlobal, has secured commitments totaling ZAR 1.6 billion (USD 108 million) from the Filipino conglomerate JG Summit Holdings and UK-based asset manager Apis Partners. Although the exact terms of the deal have not been released, TymeBank has so far received

MICROFINANCE PAPER WRAP-UP: “Helping Low- and Moderate-income Malaysians Save: Insights from UNCDF’s Work With GoGet and Pod,” Published by UNCDF

Data from Bank Negara Malaysia, the country’s central bank, illustrate a downward trend in household savings from 2018 through the beginning of the COVID-19 pandemic. The latest data available indicate that “two thirds of self-employed respondents have savings equivalent to one month’s expenses, while 83 percent

MICROFINANCE PAPER WRAP-UP: “Reaching Financial Equality For Women;” Published by Women’s World Banking, World Bank, Better Than Cash Alliance, UNSGSA, UN Women, UNCDF

This action plan is intended to help governments, businesses, and NGOs “rebuild stronger” after the COVID-19 pandemic by reducing gender inequality. UN Women estimates that at least 47 million more women and girls will fall below the poverty line in 2021 due to COVID-19. The following actions, which are prioritized equally, aim to

MICROCAPITAL BRIEF: Fintech Platform Nomanini Secures $500k from FMO; Connecting MSMEs to Retail Distributors, MSME Customers to Financial Services in Africa

Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently invested USD 500,000 in financial technology (fintech) platform Nomanini in the form of a convertible loan. FMO disbursed the funding from MASSIF, a fund it manages for

MICROCAPITAL BRIEF: Fiji Passes National Payment System Act, Seeking to Boost Fintech

The Reserve Bank of Fiji (RBF) recently announced the passage of a National Payment System Act to “upgrade national payment and settlement systems” with the intent of improving electronic payments, which can be safer and cheaper for both businesses and households. The targeted solutions include

MICROCAPITAL BRIEF: Mastercard, Razorpay to Increase Access to Recurring Payments for Startups, SMEs in India

US-based company Mastercard and India-based financial technology firm (fintech) Razorpay recently partnered to increase access to mobile payments for small and medium-sized enterprises (SMEs) in India. The partnership will combine “Razorpay’s payment processing capabilities with Mastercard’s trusted and secure dig

MICROCAPITAL BRIEF: Switzerland Capacity Building Facility (SCBF) to Support Hapa Cash of Kuunda, Expanding Liquidity for FINCA, M-Pesa Agents in Tanzania

The government-funded Switzerland Capacity Building Facility (SCBF) recently agreed to disburse an unspecified amount of grant funds to Kuunda Digital, a financial services provider based in Mauritius, to help expand its Hapa Cash product, which supplies

MICROCAPITAL BRIEF: ESCAP, SHE Investments, UNCDF Build Bookkeeping App Kotra Riel to Assist Women Microentrepreneurs in Cambodia

The UN Economic and Social Commission for Asia and the Pacific (ESCAP), the UN Capital Development Fund (UNCDF) and Cambodia’s SHE (Support Her Enterprise) Investments recently released a bookkeeping app, Kotra Riel,’ targeting

MICROCAPITAL BRIEF: Central Bank of Iran Planning NFC System to Allow Retail Payments via Mobile Devices in Lieu of Cards

The Central Bank of Iran reportedly is developing a contactless payment system using near-field communication (NFC) technology that will allow customers to make retail payments using mobile phones. Among the goals of the effort is to reduce: (1) costs for banks and their customers; (2) the use of payment cards, which are gene