The multilateral European Bank for Reconstruction and Development (EBRD) is rolling out a remote, free-of-charge learning platform called AgriAcademy with a target of educating 10,000 agri-food workers in Ukraine. The goal is
MICROCAPITAL BRIEF: MicroVest Loans $4.5m to Financiera FAMA for MSMEs in Nicaragua
US-based asset manager MicroVest recently reported disbursing a loan of USD 4.5 million to Financiera FAMA, a microfinance institution (MFI) that was founded as Fundación para el Apoyo a la Microempresa. Established in 1991 and headquartered in the city of Managua, FAMA provides
MICROCAPITAL BRIEF: MICT Buys Tingo, Expands Agritech to Ghana & Malawi, Connecting More Farmers with International Markets
MICT, a US-based, publicly traded provider of financial and technology services in Eurasia and the US, recently closed its purchase of Tingo, a US-based provider of technology services to farmers in Africa. Meanwhile, Tingo has expanded its operations into Ghana and Malawi. The firm’s services include access to pricing and markets – domestic and international – as well as an escrow
MICROCAPITAL BRIEF: Woman-owned Fintech Owoafara Accepts Equity Investment from ShEquity to Expand Financial Inclusion via Apps, Payment Cards in Nigeria
Owoafara, a woman-owned financial inclusion firm in Nigeria, recently sold an equity stake of undisclosed size and price to ShEquity, a Mauritius-based investor in African firms owned and led by women. Owoafara’s services include payment cards, a general-purpose financial services app Fara and a peer-to-peer lending app Rouzo. Fara facilitates savings, payment, lending, insurance and pension services.
Owoafara CEO Tale Alimi noted the firm’s plans to expand in West Africa, adding, “Eighty percent of our current loan book are to
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends $525k to Smart Credit for Microfinance in Moldova
Smart Credit, a microfinance institution (MFI) operating 12 branch locations in Moldova, recently accepted a local-currency loan approximately equivalent to USD 525,000 from the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation. Founded in 2010, Smart Credit offers
MICROCAPITAL BRIEF: Agritech SuperZop Nets $2.7m in Equity from Incofin India Progress Fund to Connect More Farmers, Retailers
Incofin Investment Management of Belgium recently invested USD 2.7 million to purchase a stake of undisclosed size in SuperZop, a technology firm that helps farmers and mills sell their whole grain, flour and other staples to restaurants and shops in India. SuperZop also packages food under its Khetika brand and provides
MICROCAPITAL BRIEF: Mintoak of India Rolls Out App for HDFC Bank, Allowing Customers to Accept Electronic Payments
Mintoak, an India-based provider of payment management services for small companies, recently partnered with India’s HDFC Bank to allow the bank’s customers to accept card- and app-based payments via Mintoak’s SmartHub Vyapar app. The service targets
MICROFINANCE EVENT: Microfinance Technology Summit; March 28-29, 2023; Kigali, Rwanda
This event will promote networking among representatives of microfinance institutions (MFIs) and technology firms to leverage innovations that improve
MICROCAPITAL BRIEF: Beneficial Returns Invests in Grupo Murlota to Expand Training, Incubation Capacity for Women Raising Chickens, Selling Organic Eggs in Rural Mexico
Grupo Murlota, a woman-owned provider of chickens and related supplies, financing and training in Mexico, recently borrowed an undisclosed sum from Beneficial Returns, a US-based lender to social enterprises in Latin America and Southeast Asia. The loan will help fund a new building at which Murlota will
MICROFINANCE EVENT: FinovateEurope; March 14-15, 2023; London, UK
This event will focus on financial technology (fintech) that can help financial services providers and their clients to prosper. In addition to 35 product demos, the agenda includes
MICROCAPITAL BRIEF: Soleco, Deetken, IDB Deliver “Women in Solar” Training in Jamaica
Soleco Energy, a solar firm serving Latin America and the Caribbean, recently delivered a three-day “Women in Solar” training to 19 women in Jamaica with the intent of boosting the number of women working in the solar energy industry. There was no cost to participants, who gained exposure to
MICROCAPITAL BRIEF: JuST Institute Opens Doors, Promoting Inclusive Finance for Biodiversity, Climate Adaptation
The Just Sustainability Transitions (JuST) Institute, an NGO based in France, recently launched with the mission of supporting financial services providers (FSPs), consultants and both public and private investors in expanding their work “for the benefit of people and the planet.” In particular, the JuST Institute seeks to facilitate investment flows and capacity building services that support farmers and small-business owners in climate adaptation and conserving biodiversity. The NGO’s initial focus is on
MICROCAPITAL BRIEF: Goodwell Launches uMunthu II Fund for SMEs in Africa
Netherlands-based Goodwell Investments recently launched the uMunthu II fund with USD 52 million raised and a goal for it to reach three times that volume. The fund will target about 35 small and medium-sized businesses reaching underserved consumers in Africa, including about one third financial services providers, one quarter
MICROCAPITAL BRIEF: Cresol Baser of Brazil Borrows $12m from Huruma Fund for Farm Lending, Green Product Development, Impact Measurement
Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s first investment in Brazil, lending EUR 12 million (USD 12.1 million) to Cresol Baser, a cooperative unit of Cresol, which provides savings, loans, training and insurance to individuals, farms and other businesses. The funding is earmarked for agricultural lending, including to help farmers adapt to climate change. Huruma plans to
MICROCAPITAL BRIEF: Sun King Nets $10m from Proparco for Solar Products in Africa via Bond Issue Arranged by Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently arranged a bond issue channeling USD 10 million from the French development finance institution Promotion et Participation pour la Coopération Économique (Proparco) to Sun King, a US-based firm selling solar products in Arica and Asia. Formerly known as GreenLight Planet, Sun King was founded in 2009. Its products include five types of solar lights, four types of home solar electrification kits and an inverter to
MICROFINANCE PAPER WRAP-UP: “The Financial Inclusion Compass 2022,” by Sam Mendelson, Published by e-MFP
This report outlines global trends and areas of future focus in the field of financial inclusion, based on a survey of 112 professionals from 46 countries, representing financial service providers (FSPs), infrastructure organisations and consultancies as well as researchers and investors.
In the quantitative section of the survey, participants were asked to rank what they believe to be the most important
MICROFINANCE EVENT: SuperReturn Africa; December 5-7, 2022; Cape Town, South Africa
The 13th edition of this event will focus on “market trends, challenges and innovations” in Africa. On December 5, the event will feature summits covering three topics: (1) fundraising; (2) infrastructure; and (3) ESG [environmental, social and governance issues] & impact. The remaining days will
SPECIAL REPORT: Saluting MFI Staff, Promoting Flexible Products, “Keeping the Client at the Heart” as European Microfinance Week Closes
A panel of microfinance luminaries shared their moments of pride and disappointment at the closing plenary of this year’s European Microfinance Week. Yannick Milev of the Cambodian microfinance institution Chamroeun expressed his admiration for the staff members of Chamroeun, who continued to work through the COVID-19 pandemic at significant risk to their and their families’ health because “stopping operations completely would have had a terrible effect on us and on our clients.” Mr Milev added that Chamroeun issued many loans during the early days of the pandemic to help clients diversify in response to the economic effects of COVID-19.
Marc Labie of Belgium’s University of Mons described the pandemic as “a chance for the industry to