MICROCAPITAL BRIEF: Développement international Desjardins (DID), Financière agricole du Québec-Développement international (FADQDI) to Offer Agricultural Microinsurance, Training in Colombia

Développement international Desjardins (DID), a Canadian nonprofit providing technical support and investment for the community finance sector in emerging economies, and Financière agricole du Québec – Développement international (FADQDI), a Canadian nonprofit that aims to promote rural economic development, recently announced that they will launch a joint project with the aim of supporting the agricultural sector in Colombia. Continue reading

MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Enables “Small Finance Banks” in Effort to Promote Financial Inclusion

The Reserve Bank of India (RBI), the country’s central banking authority, recently issued guidelines for the licensing of “small finance banks,” which are intended to provide credit and savings services to small businesses, small-scale farmers and other entities in the “unorganized sector.” Continue reading

MICROCAPITAL BRIEF: Foundation for International Community Assistance (FINCA) Launches Microfinance Operations in Owerri, Nigeria

The Foundation for International Community Assistance (FINCA), a US-based nonprofit microfinance network, has formally launched the operations of FINCA Microfinance Bank (FINCA MfB) in Owerri, Imo, Nigeria, following the issuance of its license by the Central Bank of Nigeria (CBN) on October 30, 2014. Continue reading

MICROFINANCE EVENT: Sankalp Africa Summit 2015: Accelerating Innovation and Entrepreneurship Towards an Inclusive Africa; February 5 – February 6, 2015; Nairobi, Kenya

Event Name: Sankalp Africa Summit 2015

Event Date: February 5 – February 6, 2015

Event Location: Strathmore Business School, Nairobi, Kenya

Cost: The cost to register is USD 500 with a rate of USD 250 available for entrepreneurs. Additional information regarding costs and fees may be found at: http://www.eventbrite.com/e/sankalp-africa-summit-2015-nairobi-kenya-tickets-13381531521?aff=SFWeb

Summary of Event: This conference is the second edition of Sankalp Africa Summit. This year, the theme is “Accelerating Innovation and Entrepreneurship Towards an Inclusive Africa”. It will include dialog among African entrepreneurs, investors and corporate and government representatives. Ten African social businesses will win Sankalp Africa Awards. Continue reading

MICROFINANCE EVENT: Microfinance and Microentrepreneurship: A Paradigm Shift for Skill Development; February 27-28, 2015; New Delhi, India

Event Name: Microfinance and Microentrepreneurship: A Paradigm Shift for Skill Development

Event Date: February 27-28, 2015

Event Location: Bhagat Phool Singh Mahila Vishwavidyalaya, Kanpur Kalan, Sonepat, India

Cost: The cost to register is INR 5,000 for Indians and USD 250 for those from other countries. Discounts are available for academics and all who register by December 31. Registration closes January 31.

Summary of Event: The hosts of this conference invite academicians, policy makers and representatives of NGOs to work together to promote the adoption of policies for creating economically and financially enabling environments in developing countries. It is also meant to serve as a platform for economists, administrators and practitioners to address issues relating to entrepreneurial microfinance and financial inclusion. Participants will discuss strategies for eradicating poverty and strengthening growth through microentrepreneurship. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4.2m to Agricultural Cooperative Bank of Armenia (ACBA) Leasing for On-lending to Micro-, Small Enterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it is disbursing a senior loan of EUR 3.4 million (USD 4.17 million) to Agricultural Cooperative Bank of Armenia (ACBA) Leasing, a subsidiary of ACBA, for on-lending to micro- and small enterprises (MSEs). Continue reading

MICROFINANCE EVENT: Financial Inclusion: The Next Move Forward; January 19, 2015; London, UK

Event Name: Financial Inclusion: The Next Move Forward

Event Date: Monday, January 19, 2015

Event Location: America Square Conference Centre, London, UK

Cost: The cost is GBP 595 (USD 963) for representatives of the private sector and GBP 295 (USD 477) for those from the public sector.

Summary of Event: Conference participants will have the opportunity to observe and analyze the progress that has been made, and examine future moves, in promoting financial inclusion throughout the United Kingdom, as well as internationally. There will also be coverage of digital and mobile technologies and trade finance as well as funding for small and medium-sized enterprises (SMEs) Continue reading

MICROCAPITAL BRIEF: Développement international Desjardins (DiD) Establishes Local Group Automating Microfinance Institution Operations in Senegal

Développement international Desjardins (DiD), a Canada-based nonprofit organization that focuses on providing technical support and investment to community financial institutions, recently announced the successful completion of a five-year long project to expand the computerization of the operations of microfinance institutions (MFIs) in Senegal. Continue reading

MICROCAPITAL BRIEF: CDC, Creation Investments, DEG, International Finance Corporation (IFC), FMO Acquire 40% Equity Stake in India’s Equitas for $51.4m

The Commonwealth Development Corporation (CDC), which is owned by the UK government; Creation Investments Capital Management (Creation Investments), a US-based alternative investment management company; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution offering long-term project and company financing; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that they will invest a total of INR 325 cores (USD 51.4 million) to acquire 40 percent of the shares of Equitas Holdings, an Indian microfinance lender. Continue reading

MICROFINANCE PAPER WRAP-UP: Peru, Colombia, the Philippines Top 2014 Global Microscope on Microfinance Business Environment

According to the Global Microscope on the Microfinance Business Environment 2014, a recent report by the UK-based Economist Intelligence Unit (EIU), Peru is the top country in enabling microfinance for the seventh consecutive year. Continue reading

MICROCAPITAL BRIEF: Credit Suisse to Fund Opportunity International’s “Empowering Generational Change Through Education” in Africa, Asia, Latin America

Credit Suisse, a Swiss global financial services company with operations in 50 countries, has agreed to donate an undisclosed sum to Opportunity International, a US-based nonprofit providing microfinance in 22 countries, to launch a three-year program entitled “Empowering Generational Change Through Education” that focuses on lending for education initiatives. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $18m to Peru-based La Positiva Seguros Generales through Convertible Subordinated Loan to Expand Insurance to Poor People

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will provide USD 18 million to La Positva Seguros Generales, a Peru-based insurance company, through a convertible subordinated loan to expand the availability of insurance to disadvantaged populations within Peru. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $6.2m to Alter Modus for Disbursal as Micro-, Small Loans in Montenegro

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a senior loan of EUR 5 million (USD 6.2 million) to Alter Modus, a Montenegro-based microfinance institution (MFI), for lending to micro- and small enterprises (MSEs) within Montenegro. Continue reading

MICROCAPITAL BRIEF: Millicom’s Tanzanian Arm Distributes Profits of $1.8m to Tigo Pesa Mobile Money Customers

Millicom International Cellular, a Luxembourg-based telecommunications company that operates the brand Tigo, recently announced that its Tanzanian unit will distribute third quarter profits of TZS 3 billion (USD 1.8 million) to users and agents of Tigo Pesa, a mobile money service accessed by 3.6 million customers. Continue reading

MICROCAPITAL BRIEF: UK Department for International Development (DFID), Bill and Melinda Gates Foundation to Create Digital Financial Services Unit in Pakistan

The Department for International Development (DFID), a development agency of the British government, and the Bill and Melinda Gates Foundation, a US-based nonprofit that supports innovations in health and education, recently signed a memorandum of understanding (MoU) at the International Branchless Banking Conference 2014 in Pakistan. Continue reading