MICROCAPITAL BRIEF: Indonesian Government Seeks to Shift KUR Microlending to Agriculture, Fisheries, Manufacturing from Trading, Services

The Indonesian government recently announced it plans to grow the portion of its Kredit Usaha Rakyat (KUR) program that is used for agriculture, fishing and manufacturing from 22 percent of the program total to 40 percent. The remainder of KUR lending is for trading and services. Continue reading

MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $18m in Eurasia, Latin America, Zambia

C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 17.5 million to unidentified providers of financial services in Cambodia, Continue reading

MICROCAPITAL BRIEF: Palestine Monetary Authority Puts Credit Reports Online for Microfinance Institutions, Banks

The Palestine Monetary Authority (PMA), with assistance from Ramallah-based Al-Andalus Software Development, recently released a “credit reports handling system” that allows financial institutions to access to individual’s credit histories electronically. Previously, credit report requests had to be filed in person Continue reading

MICROCAPITAL BRIEF: Tigo Rwanda Launches TigoNshoboza Mobile Microloans on Pilot Basis

Tigo Rwanda Limited, a unit of Sweden’s Millicom that offers mobile telecommunications services, recently announced it has launched its TigoNshoboza Loan Service, which allows users of the Tigo Cash service in Rwanda to access loans via their mobile wallets. TigoNshoboza is in a pilot phase, so the number Continue reading

MICROCAPITAL BRIEF: After Launch in Tanzania, Ecobank Mobile App Available in 33 African Countries

Ecobank Tanzania, a unit of Togo-based Ecobank Group, recently announced its launch of the Ecobank Mobile App, which allows customers to use mobile devices to perform fund transfers, top-up airtime, pay bills, check forex rates, view account statements, make retail payments, and interface with payment cards and checks. Continue reading

MICROCAPITAL BRIEF: IFAD, DiD Renew Cooperation in Cameroon via Youth Agropastoral Entrepreneurship Promotion Program (PEA-Youth)

Développement international Desjardins (DiD), an arm of Canada’s cooperative Desjardins Group, recently announced it has received additional funding from the UN’s International Fund for Agricultural Development (IFAD) continue participating in the Youth Agropastoral Entrepreneurship Promotion Program (PEA-Youth) in Cameroon through 2018. PEA-Youth supports rural Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Advise Microfinance Institution (MFI) Agency for Finance of Kosovo (AFK) on Agricultural Services

The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it will advise the Agency for Finance (AFK), a microfinance institution (MFI) in Kosovo, on lending strategy and methods to finance the development of the country’s agricultural sector. Continue reading

MICROCAPITAL BRIEF: FMO Lends $52.5m to Climate Investor One for Hydro, Solar, Wind Energy Projects in Africa, Asia

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced it will loan USD 52.5 million in two transactions to Climate Investor One (CIO), a facility managed by Netherlands-based Climate Fund Managers. The objective of the loan is for CIO to aid in the development Continue reading

MICROCAPITAL BRIEF: Asian Development Bank Invests $1.5m in Equity in India’s M-CRIL to Expand Ratings in Cambodia, China, Indonesia, Nepal

Micro-Credit Ratings International Limited (M-CRIL), an India-based provider of rating and advisory services to the microfinance industry, recently sold an unspecified portion of its equity to the Asian Development Bank (ADB), a development finance institution with 67 member countries. One goal of the funding is to help M-CRIL expand in Cambodia, China, Indonesia and Nepal. ADB Principal Investment Specialist Anshukant Taneja said the investment will Continue reading

MICROFINANCE EVENT: 9th Consultative Forum on Microinsurance Regulation; March 14, 2017; Singapore

Event Name: Ninth Consultative Forum on Microinsurance Regulation

Event Date: March 14, 2017

Event Location: Theatrette, MAS Building, 10 Shenton Way, Singapore

Summary of Event: The theme of this year’s event is “Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder Continue reading

MICROCAPITAL BRIEF: Accion Venture Lab Sells Equity Stake in Clip, Provider of Payment-card Readers to Retailers in Mexico

Accion Venture Lab, an investment vehicle of US-based NGO Accion, recently sold its stake in Clip, a company that provides Mexican businesses devices that plug in to smartphones, allowing them to accept payments via credit and debit cards. Clip, which has offices in the US and Mexico Continue reading

MICROCAPITAL BRIEF: MicroFinanza Rating Issues 10 Institutional, Social Ratings

During February 2017, Italy-based MicroFinanza Rating issued “microfinance institutional ratings” to the following institutions, all with stable outlooks: Indonesia’s Komida, which was assigned a grade of BB; Albania’s NOA, which earned a BBB; Haiti’s ACME, which was assigned a BB+; Vietnam’s Anh Chi Em (ACE), which got a BB-; and two institutions that each received an A-, Continue reading

MICROCAPITAL BRIEF: In Wake of 2016 Earthquake, Ecuadorean Microfinance Institution D-Miro Leveraging $2m in Equity from The Mission Alliance to Restructure $80m in Debt

Alliance Microfinance, an NGO owned by The Mission Alliance of Norway, recently committed USD 2 million in equity to assist Banco D-Miro of Ecuador in renegotiating USD 80 million in loans to achieve “reduced interest expense and extended amortization.” The Mission Alliance Continue reading

MICROCAPITAL BRIEF: FMO Lending $3m to Philippines’ Microfinance Institution One Puhunan

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it will disburse a loan of USD 3 million from the Dutch government’s MASSIF Fund to the Microfinance Philippines Financing Company, which is also known as One Puhunan. The microfinance institution Continue reading

MICROCAPITAL BRIEF: Thailand’s Group Lease Acquires 30% Equity Stake in Sri Lanka’s Commercial Credit and Finance (CCF) for $70m

Group Lease Public Company Limited, which is listed on the Thailand Stock Exchange, recently acquired a 29.99-percent stake in Commercial Credit and Finance (CCF), which is traded on Sri Lanka’s Colombo Stock Exchange, for LKR 10.6 billion (USD 70 million). Continue reading

MICROCAPITAL BRIEF: Garanti Leasing Borrowing $26m from EFSE to Finance Micro-, Small Enterprises in Turkey

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently announced it is lending EUR 25 million (USD 26.5 million) to Garanti Leasing, a subsidiary of Turkey-based Garanti Bank, to facilitate increased support for micro- and small enterprises in Turkey. Garanti Leasing plans to utilize half Continue reading

MICROCAPITAL BRIEF: Chilean Credit Reporting Firm Destacame Raises Seed Equity from Accion Venture Lab to Expand into Mexico

Destacame, a Chile-based credit scoring firm, recently announced that it has closed its seed round of financing, which was led by Accion Venture Lab, a USD 10 million investment vehicle of US-based NGO Accion. The funds are slated to allow Destacame Continue reading

MICROCAPITAL BRIEF: Arise – Founded by Norfund, FMO, Rabobank to Invest in African Financial Services Providers – Buys 28% Equity Stake in Ghana’s CAL Bank from DPI

Arise, an investment company recently launched in South Africa by three European institutions, has paid an undisclosed price to acquire 27.7 percent of the shares of CAL Bank, a publicly traded financial institution in Ghana. Arise bought the stake from Continue reading