Ufone Global System for Mobile Communications (GSM), a subsidiary of Pakistan Telecommunication Company Limited, reportedly has purchased all of the shares of Rozgar Microfinance Bank, a Pakistani microfinance institution (MFI), as part of an effort to offer branchless banking throughout the country. Continue Reading »

The World Bank Group, a US-based institution whose aim is to reduce poverty, recently released a report titled “General Guidelines for the Development of Government Payment Programs” that aims to assist governments and other stakeholders in developing efficient electronic government-payment systems. Continue Reading »

First Bank of Nigeria, a commercial bank listed on the Nigerian Stock Exchange (NSE) recently introduced a cardless Automated Teller Machine (ATM) transfer service across the country that intends to facilitate the transfer of funds to people without bank accounts or payment cards. Continue Reading »

By Yassir Ahmed Hassan Jamie, published by MDG (Millennium Development Goals) Achievement Fund; Microfinance Unit, Central Bank of Sudan; United Nations Development Programme, May 2012, 103 pages, available at http://www.microfinancegateway.org/gm/document-1.9.57618/Youth%20Financial%20Inclusion%20Policy%20Reform%20Study%20FINAL.pdf Continue Reading »

“Latin American and the Caribbean Microfinance Market Trends 2006-2011;” by Renso Martinez Ramirez; published by Microfinance Information Exchange; June 2012; 22 pages; available at: http://www.themix.org/publications/mix-microfinance-world/2012/06/latin-american-and-caribbean-microfinance-market-trends- Continue Reading »

Accion, a US-based nonprofit organization, recently launched a service called Avanza that manages retail microfinance portfolios for banks and microfinance institutions (MFIs). Continue Reading »

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 »

Zidisha, a US-based nonprofit microlending service, reached the milestone of USD 300,000 raised for 500 different businesses on July 18, 2012. Continue Reading »

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 »

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 »

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 »

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 »

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 »

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 »

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 »

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 »

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 »

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 »