Category: Technology

MICROCAPITAL BRIEF: Orange, Visa Partner to Enhance Orange Money Mobile Payment System in Botswana

Orange, a France-based telecommunications corporation, recently partnered with Visa Incorporated, a US-based payments technology company, to launch an enhanced system of mobile payment services for subscribers of Orange Money, Orange’s mobile money service, in Botswana. Continue reading

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MICROCAPITAL BRIEF: Palestine Monetary Authority (PMA), Banking Production Centre (BPC) Banking Technologies Group Partner to Provide Electronic Money in Palestine

The Palestine Monetary Authority (PMA), the territory’s central bank, with the help of the Banking Production Centre (BPC) Banking Technologies Group, a Russia-based e-payment solutions provider for the financial industry, plans to launch a national electronic payment system in an effort to transition Palestine away from its current cash and check system. Continue reading

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MICROCAPITAL BRIEF: Macedonian Aspekt, Bosnian EKI Sign Deal to Implement Microfinance Software

Aspekt, a Macedonia-based computer technology company, has signed an agreement with Microcredit Foundation EKI, a Bosnia-based microcredit foundation that aims to reduce poverty in Bosnia and Herzegovina, to implement Aspekt’s microfinance software solution to support EKI’s microcredit services [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard, South African Social Security Agency (SASSA) Distribute 10m Biometrically Secured Debit Cards to Social Grant Beneficiaries

MasterCard Incorporated, a US-based global payments and technology company, and the South African Social Security Agency (SASSA), a government-funded organization that distributes social grant funds, have distributed 10 million active MasterCard debit cards to individual beneficiaries in South Africa, replacing cash payments. Continue reading

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MICROCAPITAL BRIEF: Australia and New Zealand Banking Group (ANZ), Fiserv Extend Mobile Money Services to Papua New Guinea, Samoa, Solomon Islands, Vanuatu

Australia and New Zealand Banking Group Limited (ANZ), an Australia-based bank, and Fiserv, a US-based financial services technology provider, reportedly have partnered to provide mobile money services to people lacking access to traditional financial services in Papua New Guinea, Samoa, the Solomon Islands and Vanuatu.  Continue reading

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MICROCAPITAL BRIEF: Beneficiaries of Jamaica’s Program of Advancement Through Health and Education (PATH) to Receive Mobile Money Payments

The Jamaican government reportedly has announced a plan to begin disbursing mobile money payments to beneficiaries of its Program of Advancement Through Health and Education (PATH), a conditional cash transfer (CCT) program established in partnership with the US-based World Bank Group that provides grants for health and education to qualified need-based applicants. Continue reading

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MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana Launches “ATM Cash Out” Service to Mobile Money Subscribers

The Ghanaian arm of Mobile Telecommunications Network (MTN) Group Limited, a telecommunications service provider based in South Africa, has launched its “Automatic Teller Machine (ATM) Cash Out” service in Ghana, allowing subscribers of MTN Mobile Money, an electronic wallet service offered by MTN, to withdraw money from ATMs without a card.  Continue reading

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MICROCAPITAL BRIEF: Western Union, eTranzact Launch Mobile Money Product in Nigeria

The Western Union Company, a US-based financial services company, reportedly is partnering with eTranzact, a Nigeria-based mobile money service provider, to launch a mobile money service in Nigeria. The service is expected to allow customers on the eTranzact mobile money platform, PocketMoni, to receive mobile money transfers from 23 “sender” countries using their mobile phones. Continue reading

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MICROCAPITAL BRIEF: Rwanda’s Bank of Kigali Announces New ‘mVisa’ Mobile Banking Service

The Bank of Kigali (BK), a commercial bank based in the Rwandan capital of Kigali, reportedly has announced the development of a new mobile banking product, ‘mVisa’, that is expected to allow rural populations to gain access to banking services that historically have been inaccessible to rural Rwandans. According to a statement attributed to Lawson Naibo, the chief operations officer of BK, the service will aim to allow rural clients to easily access their bank account through their mobile phone and encourage higher banking participation rates in rural Rwandan communities where bank branches are often not present. Continue reading

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MICROCAPITAL BRIEF: Muhammad Yunus, Grameen Foundation, Grameen Bank, Brazil Foods (BRF) to Invest in Small Businesses, Genetically-Modified Organisms (GMOs) in Haiti

Nobel Peace Prize winner Dr Muhammad Yunus reportedly announced in June 2013 a new partnership between the Grameen Foundation, a US-based nonprofit of which Yunus serves is a board member, the Grameen Bank, a Bangladesh-based microfinance institution (MFI) founded by Dr Yunus, and Brazil Foods (BRF), a Brazil-based food production and processing company, to offer an unspecified amount of money through microfinance loans to small businesses in Haiti that are engaged in the production of genetically-modified organisms (GMOs), particularly in the poultry industry [1,2]. Continue reading

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MICROCAPITAL BRIEF: WorldRemit Launches Direct Worldwide Money Transfer Service through Telesom’s Zaad Service

WorldRemit Limited, a UK-based online money transfer service that enables customers to send remittances to family and friends in approximately 100 receiving countries, reportedly has partnered with Somaliland-based communications company Telesom’s Zaad, a mobile banking service that allows customers to use their mobile phones for money transfers and purchases, to launch a mobile money transfer program. Continue reading

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MICROCAPITAL BRIEF: Jamaica National Small Business Loans Limited (JNSBL) Launches “I Support Jamaica” Website to Fund Microentrepreneurs

Jamaica National Small Business Loans Limited (JNSBL), a microfinance institution established in 2000, in partnership with the Jamaica National (JN) Foundation, a Jamaica-based social development organization, recently announced the launch of “I Support Jamaica,” a fundraising website that provides money for entrepreneurs in the country to start micro- and small businesses [1]. Continue reading

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MICROCAPITAL BRIEF: National Association of Microfinance Banks (NAMB), Central Bank of Nigeria (CBN) Propose Unified Software System for Microfinance Banks (MFB) in Nigeria

The National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently partnered with the Central Bank of Nigeria (CBN), the country’s main financial regulator, to propose a unified software system for all of NAMB’s member institutions. Continue reading

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MICROCAPITAL BRIEF: Tanzania Postal Bank (TPB), World Savings Banks Institute (WSBI), Bill and Melinda Gates Foundation to Launch “TPB Popote” to Reach Unbanked Tanzanians

The Tanzania Postal Bank (TPB), a Tanzania-based financial services organization, recently partnered with the World Savings Banks Institute (WSBI), a Switzerland-based international banking association, and the Bill and Melinda Gates Foundation (BMGF), a US-based nonprofit organization, to launch a new mobile banking service called “TPB Popote” that aims to increase the financial inclusion of low-income people in rural regions of Tanzania. Continue reading

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MICROCAPITAL BRIEF: Ecobank, Lonestar Cell MTN Launch “Mobile Money School Fees Payment Service” in Liberia

Ecobank Transnational Incorporated (ETI), a pan-African banking conglomerate that operates in 33 African countries, and Lonestar Cell Mobile Telecommunications Network (MTN), a member of the multinational telecommunications company MTN Group that has services in 21 countries in Africa, Europe and Middle East, reportedly have launched a partnership in Liberia that will alleviate the costs of waiting to pay for students’ school fees [1]. Continue reading

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