The multilateral Asian Development Bank (ADB) and the Canadian government’s FinDev Canada recently announced a partnership to support projects in Asia and the Pacific that further FinDev Canada’s priority areas of “women’s economic empowerment, climate action and local market development.” In addition to identifying deals to co-finance, the organizations plan
MICROCAPITAL BRIEF: Sanad Fund for MSME Raises $26m from ASN Bank, Calvert Impact to Boost Financial Inclusion, Resilience in MENA
The Luxembourg-domiciled Sanad Fund for MSME recently agreed to borrow EUR 15 million (USD 16.5 million) from Algemene Spaarbank voor Nederland (ASN) Bank, a retail banking member of the Netherlands’ de Volksbank, and USD 10 million from the US-based NGO Calvert Impact Capital. Sanad intends to use the fresh funds to facilitate
MICROCAPITAL BRIEF: Futu Expanding Digital Investment, Financial Education Platform to Malaysia
The Hong Kong-based wealth management company Futu Holdings is adding Malaysia to the list of countries whose residents can access its investment platform Moomoo, following the firm’s local subsidiary receiving preliminary regulatory approval for the service. Moomoo allows
MICROCAPITAL BRIEF: Cubo Raises $3.5m in Debt, Equity to Boost Acceptance of Digital Payments by Microenterprises in Central America
El Salvadoran startup Cubo, in an effort to bring its digital payments solutions to Guatemala, Panama and Costa Rica, recently raised USD 3.5 million in seed financing from investors including IDB Lab, a member of the Inter-American Development Bank (IDB) Group, and three venture capital firms, Colombia-based Latin Leap, Peru’s Seedstars and India’s Soma Capital. Cubo expects the new funding to allow it to reach about
MICROCAPITAL BRIEF: MicroVest Lending $3.4m to Financiera Finexpar for Agriculture, SME Lending in Paraguay
MicroVest, an asset management subsidiary of US-based DAI Global, recently issued a loan of USD 3.4 million to the Paraguay-based microfinance institution (MFI) Financiera Finexpar to support the MFI’s lending activities, specifically the funding of small and medium-sized enterprises (SMEs) engaged in
MICROFINANCE EVENT: ANDE Annual Conference; September 12-14, 2023; Accra, Ghana
This event will observe the “half-way point” towards the 2030 target of achieving the 17 Sustainable Development Goals (SDGs) of the United Nations. It is themed “Accelerating Action: Small Business Solutions and the SDGs,” and is to focus on cataloging the progress and ongoing needs of small and
MICROCAPITAL BRIEF: Temenos Launches Artificial Intelligence Platform for Mortgage Lenders
Temenos, a Switzerland-based provider of software to financial institutions, recently expanded its product portfolio with a mortgage processing solution that leverages artificial intelligence (AI). Its aim is to “help lenders to deliver a personalised
MICROFINANCE EVENT: Africa Fintech Summit (AFTS); November 2-3, 2023; Lusaka, Zambia
Twice a year, this event convenes to promote collaboration on entrepreneurship as well as issues and opportunities regarding financial technology (fintech) in Africa. Following a pre-event dinner on November 1, the first day will include a
MICROFINANCE PAPER WRAP-UP: “Impact of Microcredit on Household Consumption and Assets in Nepal;” by Shalik Ram Pokhrel
Dr Pokhrel hypothesized that microcredit is a sustainable tool for poverty reduction, based on the idea that access to microcredit can improve household income and employment opportunities, thus leading to increases in household consumption and asset ownership. The study employed data from
MICROFINANCE EVENT: Fintech Summit Latam; August 31 – September 1, 2023; Mexico City, Mexico
This event will focus on trends and solutions relating to banks and mobile operators providing digital financial services. This can range from becoming a virtual bank to offering a new service, such as
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine
The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently disbursed a local-currency loan approximately equivalent to USD 3.2 million to the microfinance institution (MFI) Palestine for Credit and Development, which is also known by its Arabic name Faten. Founded in 1999 and based in Palestine’s West Bank, Faten is an NGO that seeks to
MICROFINANCE PAPER WRAP-UP: “Microfinance in India: Issues, Challenges and Opportunities;” by Mohammad Abu Saleh, Zubair Ahmad
Based on a review of existing literature on microfinance in India, the authors of this study seek to: (1) analyze the size and growth of the domestic microfinance market; (2)
MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Microfinance Institution Baobab Senegal, Retains Holding in Parent Company
Abler Nordic, a partnership of public and private investors based in Denmark and Norway, recently sold its stake in Baobab Senegal for an undisclosed price to the latter’s parent company, Baobab Group, which operates microfinance institutions (MFIs) in Africa and China. Abler, known at the time as the Nordic Microfinance Initiative, bought the stake in 2012. Abler continues to hold a stake in Baobab Group.
“As we hand the baton on, we are very pleased with how the company has grown, the impressive social results they have achieved, and
MICROCAPITAL BRIEF: M-Kopa Raises $250m to Expand Financing of Mobile Phones, Solar Equipment in Africa
M-Kopa, a Kenya-based company serving 3 million customers in four African countries, recently announced that it has raised approximately USD 250 million in fresh funds to expand its facilitation of financial and digital inclusion. In particular, the firm finances devices that it sells, such as
MICROCAPITAL BRIEF: G20, SME Finance Forum Showcase Digital Finance Solutions for MSMEs Via Online Database, Seek Submissions
The Group of Twenty (G20), an association of the world’s larger economies, recently released a digital database hosting descriptions of “innovative financial products and services” – other than lending – that are available to micro-, small and medium-sized enterprises (MSMEs) across the globe. The entries are classified as offering Cash Management, Credit Guarantees
MICROFINANCE PAPER WRAP-UP: “Green Energy Finance and Gender Disparity: The Case of Mountain Areas in Bangladesh,” by Sakib Bin Amin et al, Published by Copenhagen Business School
The authors of this study conducted a household-level analysis to examine the relationships among electricity access, green finance and gender disparity in the Chittagong Hill Tracts (CHT) of Bangladesh. Although access to electricity can
MICROCAPITAL BRIEF: Network International Unveils “Networkpay” Tools for SMEs in Egypt to Accept Digital Payments
UAE-based Network International recently rolled out its “networkpay” brand to bring its “direct-to-merchant” payment systems to Egypt. The service menu includes tools allowing retailers to accept point-of-service and
MICROFINANCE EVENT: Unlocking Solar Capital (USC) Africa; May 31 – June 1, 2023; Kampala, Uganda
The fifth iteration of this event will promote partnerships between investors and project developers to work toward universal energy access. The event will include sessions such as: (1) Integrated Energy Planning & Smart Subsidies to Achieve