by Anaya Jhaveri -

MICROCAPITAL BRIEF: Verdant Capital Hybrid Fund Lending $9m to LOLC to Finance MSMEs in Africa

The German subsidiary of Verdant Capital recently agreed to lend USD 9 million from the Verdant Capital Hybrid Fund to support subsidiaries of Sri Lanka’s Lanka Orix Leasing Company (LOLC) Holdings that offer savings and loans in Africa. These institutions, which serve Democratic Republic of Congo,

by Anaya Jhaveri -

MICROCAPITAL BRIEF: AIA Commits $200m to LeapFrog Investments Seeking Positive Social, Environmental Impact

AIA, a Hong Kong-based firm formerly known as American International Assurance, recently announced plans to invest USD 200 million in LeapFrog Investments, a US-based company investing in firms that deliver low-income customers

by Rohit Dayanand -

MICROCAPITAL BRIEF: Tokyo Offering $900k to Asset Managers, Fintechs to Open “Green Finance” Office in Japan

Japan’s Tokyo Metropolitan Government is accepting applications for the Green
Finance Subsidy for Tokyo Market Entry, a financial and technical assistance initiative
intended to attract foreign green finance companies to Tokyo. The program is open to

by Renata Samadova -

MICROCAPITAL BRIEF: FSPs in Ecuador to Evaluate Role of Bias in Financial Access for Women-led MSMEs with Support from IDB Invest, RFD

Red de Instituciones Financieras de Desarrollo (RFD), a network of 53 banks, cooperatives and nonprofit financial services providers (FSPs) in Ecuador, recently agreed to partner with IDB Invest, a member of the Inter-American Development Bank (IDB) Group, to offer RFD members advisory services relating to boosting their financing of female-led micro-, small and medium-sized enterprises (MSMEs). RFD will distribute an online survey designed by the IDB Group to address

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Mogo Kenya Borrowing $7m from Verdant Capital Hybrid Fund to Boost Vehicle Ownership

Mauritius-based Verdant Capital recently announced that it will lend USD 7 million from its Verdant Capital Hybrid Fund to Mogo Kenya, a subsidiary of Latvia-based Eleving Group, to fund two-, three- and four-wheeled vehicles – some powered by electricity – for self-employed taxi and delivery drivers. The loan is structured in two tranches,

by Elva Montelongo -

MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda 

Norway’s Spenn Technology recently expanded its partnership with the Rwandan unit of Kenya’s Investments & Mortgages (I&M) Bank to allow users of the Spenn mobile application to send money to any financial services provider in Rwanda, including banks and competing mobile money services. The app’s other features include

by Elva Montelongo -

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $760k to Microfinance Institution Oxus Tajikistan

Grameen Credit Agricole (GCA) Foundation, which has offices in France and Luxembourg, recently lent Oxus Tajikistan, one of three microfinance institution (MFI) affiliates of the France-based Oxus Development Network, local currency approximately equivalent to USD 760,000. The purpose is to

by Elva Montelongo -

MICROCAPITAL BRIEF: Reefy Microfinance Borrows $6.5m from EBRD for Youth-led MSMEs in Egypt

Reefy Microfinance Enterprise Services, an Egypt-based microfinance institution (MFI), recently agreed to accept a loan of EGP 200 million (USD 6.5 million) from the UK-based European Bank for Reconstruction and Development (EBRD). The loan is part of EBRD’s

by Vaughn Rajah -

MICROFINANCE PAPER WRAP-UP: “Determinants of Choice of Credit Source Among Clients of Microfinance Systems in the Upper West Region of Ghana,” by Paul Bata Domanban et al

The authors of this article examined which groups of people in northwestern Ghana were more and less likely to borrow money from microfinance institutions (MFIs). The authors conducted

by Rohit Dayanand -

MICROCAPITAL BRIEF: First City Monument Bank of Nigeria Offers Asset Financing Starting at $600 

First City Monument Bank (FCMB) of Nigeria has begun offering loans of NGN 500,000 (USD 600) to NGN 3 million (USD 3,600) with terms of one year to four years for businesses to finance purchases of equipment and machinery. FCMB reports that it also may grant customers – in certain circumstances –

by Vaughn Rajah -

MICROFINANCE PAPER WRAP-UP: “Predictors of Microfinance Sustainability: Empirical Evidence from Bangladesh,” by Maeenuddin et al

This article examines the financial sustainability of microfinance institutions (MFIs) in Bangladesh. Using data from the MIX Market database, the authors develop a

by Elva Montelongo -

MICROCAPITAL BRIEF: Mi-Bospo of Bosnia and Herzegovina Borrowing $2.2m from Grameen Credit Agricole Foundation for Microfinance Lending

Microcredit Foundation Mi-Bospo of Bosnia and Herzegovina recently agreed to borrow EUR 2 million (USD 2.2 million) from the Grameen Credit Agricole (GCA) Foundation, which has offices in France and Luxembourg. Mi-Bospo serves 26,000 clients, mostly women who live in rural areas. Its offerings include

by Rohit Dayanand -

MICROFINANCE EVENT: 2nd Annual Environmental Social Governance (ESG) Africa Conference; October 4-5, 2023; Sandton, South Africa

This conference offers opportunities to collaborate on incorporating environmental, social and corporate governance (ESG) goals into organizations’ operations. The themes are: (1) Investment and Financing; (2) Measurement and Reporting; (3) Governance, Leadership and Culture; and (4) Legal. The itinerary for Day One of the event includes

by Ben Barba -

MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia

Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently facilitated a bond issue channeling USD 10 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia, to support UN Sustainable Development Goal (SDG) 5: Gender Equality. Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, bought the bond through its Vision

by Vaughn Rajah -

MICROFINANCE PAPER WRAP-UP: “Mind the Gap in Financial Inclusion! Microcredit Institutions Fieldwork in Peru;” by Pilar Lopez-Sancheza, Elena Urquia-Grande

Microfinance providers in Peru carry a combined outstanding loan portfolio equivalent to USD 12.7 billion, serving 5 million borrowers. Dr Lopez-Sancheza and Dr Urquia-Grande conducted a qualitative analysis of these loans based on