The first of these events – the combined annual meeting of the Social Performance Task Force (SPTF) and Comité d’Echange, de Réflexion et sur les Systèmes d’Epargne-Crédit (CERISE) – is titled Celebrating 10 Years of the Universal Standards for Social and Environmental Performance Management. The first day will include
MICROFINANCE PAPER WRAP-UP: “60 Decibels Microfinance Index,” by Sasha Dichter, Devin Olmack, Ellie Rodgers, Akanksha Singh
Using data from approximately 18,000 beneficiaries of 72 microfinance institutions (MFIs) in 41 countries, the authors of this report rank the participating MFIs based on social impact. The researchers collected the data via surveys administered to 250 randomly selected clients for each MFI. The surveys covered 18 indicators, such as
MICROCAPITAL BRIEF: SAFCO Transforming into For-profit Entity with Microfinance License from Securities and Exchange Commision of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) recently issued a license to Sustainable Actions to Access Financial Capital Opportunities (SAFCO) Microfinance Company, a unit of the SAFCO Support Foundation, allowing it to offer microfinance services. The announcement comes as SECP is
MICROCAPITAL BRIEF: SEWA Affiliate Sitara Raises $20m in Equity from Nordic Microfinance Initiative, Women’s World Banking, Ongoing Shareholders to Improve Housing Conditions for Women in India
SEWA Grih Lin, an Indian affordable housing finance company also known as Sitara, recently raised USD 20 million in equity, including USD 8 million from the Norway-based Nordic Microfinance Initiative (NMI). Sitara sourced the remainder in unspecified portions from
MICROCAPITAL BRIEF: Airtel Africa Establishes Smartcash Payment Service Bank to Offer Payments, Remittances, Deposit to Individuals, Enterprises in Nigeria
Airtel Africa, a UK-based mobile money company active in Africa, recently launched Smartcash Payment Service Bank (PSB), to expand the range of financial services it offers in Nigeria. The move follows Airtel Africa having received a “super-agent” licence from the Central Bank of Nigeria, enabling the company to
MICROCAPITAL BRIEF: I&M Bank of Kenya Secures $15m Guarantee from FMO to Support MSME Growth
Investment and Mortgages (I&M) Bank, a subsidiary of Kenya-based I&M Group, recently signed an agreement with Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, whereby FMO will deploy a guarantee from its Nasira risk sharing facility to encourage USD 15 million in lending by I&M Bank to
MICROCAPITAL BRIEF: LOLC Cambodia Borrows $7m from Nordic Microfinance Initiative to Expand Financial Access in Rural Cambodia
The Norway-based Nordic Microfinance Initiative (NMI) recently announced a subordinated loan of USD 7 million to Lanka Orix Leasing Company (LOLC) Cambodia, a member of the Sri Lanka-based LOLC Group, to expand lending and leasing services for individuals with low incomes who live in rural areas. The deal follows
MICROCAPITAL BRIEF: ElectriFI, Oikocredit Invest $8m in Equity in Solar Panda to Expand Electricity Access for Off-Grid Communities in Kenya
The government-funded Electrification Financing Initiative (ElectriFI) and Dutch cooperative investor Oikocredit recently announced equity investments in Solar Panda, a Canada-based provider of solar technology to households in Kenya. The goal of
MICROCAPITAL BRIEF: BII Lending $20m to Moove, Financier of Ride-hailing, Delivery Vehicles in Africa
British International Investment (BII), the UK government’s development finance institution, recently announced a four-year structured debt package of USD 20 million for Moove, a Nigeria-based financial technology (fintech) firm that helps drivers in Africa acquire motorcycles, cars and trucks to work for passenger and delivery driving services. Moove plans to use the proceeds to buy fuel-efficient cars for drivers in Nigeria to acquire through payments made over periods of up to four years. Moove’s vehicle financing packages include
MICROCAPITAL BRIEF: Fusion Microfinance Borrows $4m from Crédit Agricole CIB for Group Lending to Rural, Women-owned Businesses in India, Guaranteed by GCA Foundation
Fusion Microfinance, an India-based microfinance institution (MFI), recently borrowed local currency approximately equivalent to USD 4.4 million from Crédit Agricole Corporate and Investment Bank (CIB) India, a unit of France-based Crédit Agricole. The loan, which is guaranteed by the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation, is for
MICROCAPITAL BRIEF: EIB Supporting Technical Assistance for Banque Misr on Financial Inclusion for SMEs, Post-COVID Growth in Egypt
Banque Misr, a financial institution owned by the government of Egypt, recently agreed to work with the EU’s European Investment Bank (EIB) on technical assistance efforts to: (1) enhance Banque Misr’s risk management and company-wide best practices regarding lending to small and medium-sized enterprises (SMEs); and (2) create new financial services through which Banque Misr can support
MICROCAPITAL BRIEF: IFC Loans $105m to CRDB Bank to Increase Funding for MSMEs – Especially Women-owned Enterprises – in Tanzania, Burundi
The World Bank Group’s International Finance Corporation (IFC) recently announced a loan equivalent to USD 100 million – half in local currency – to Tanzania-based Cooperative Rural and Development Bank (CRDB Bank) and a loan of USD 5 million to CRDB Bank Burundi. The goal of the loans to these two members of the CRDB Bank Group, whose head office is in Tanzania, is to
MICROCAPITAL BRIEF: Afrikamart Secures $850k in Equity to Improve Food-delivery Logistics, Boost Purchasing from Smallholder Farmers in Senegal
Afrikamart, a Senegal-based food distribution technology platform, recently secured USD 360,000 from Bloc Smart Africa, an investment fund managed by Luxembourg-based Bamboo Capital Partners, as part of a larger equity package. An additional
MICROCAPITAL BRIEF: World Bank Providing $52m to Lesotho to Boost Financial Access, Resilience of MSMEs – Especially Women-, Youth-owned Enterprises
The World Bank recently issued a USD 45 million loan to the government of the Kingdom of Lesotho, supported by a USD 7.5 million grant from the World Bank’s Global Risk Financing Facility. The purpose of the project is to: (1) provide “business support services and financial products” to 500 micro-, small and medium-sized enterprises (MSMEs), of which half are to women-owned and a quarter are to be youth-owned; and
MICROCAPITAL BRIEF: Accion Venture Lab, Endiya Lead $3m in Equity Funding for AquaExchange for Digitization in Fish Farming, Shrimp Industry in India
AquaExchange, a firm digitizing the operations of India’s fish farming and shrimp industry, recently obtained USD 3 million in equity funding in a round led by Accion Venture Lab, a unit of US-based nonprofit Accion, and Endiya Partners, an India-based venture capital fund, with additional participation from unspecified ongoing shareholders in the company. Neither the breakdown of the funding by investor nor
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $3.4m to Chamroeun for Microfinance in Cambodia
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently announced it has disbursed a loan of USD 3.4 million to Chamroeun, a Cambodia-based microfinance institution (MFI). Chamroeun offers loans for
MICROCAPITAL BRIEF: KOMIDA Secures $3m from Grameen Crédit Agricole Foundation for Microfinance for Women in Rural Indonesia
Koperasi Mitra Dhuafa (KOMIDA), a microfinance institution in Indonesia, recently borrowed local currency equivalent to EUR 3 million (USD 3 million) from the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation. The wholesale loan is to be used to
MICROCAPITAL BRIEF: Khushali Microfinance Bank, Sindh Graduates Association Partner on Financial, Vocational Education for Women in Rural Pakistan
Pakistan’s Khushali Microfinance Bank recently initiated a collaboration with Sindh Graduates Association (SGA), an organization mobilizing university graduates in the Pakistani province of Sindh, on a program intended to increase women’s living standards. In particular, the programme targets the female population in the Sindh village of Mirpurkhas with training in tailoring and financial topics such as how to use