MICROCAPITAL BRIEF: International Finance Corporation, Centre International de Développement et de Recherche (CIDR) to Expand Health Microinsurance in Senegal

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Centre International de Développement et de Recherche (CIDR), a nongovernmental organization based in France, recently announced an agreement “to expand micro health insurance in Senegal to low-income and informally employed individuals”[1] through Pool Micro Assurance Santé, a health services provider in Senegal. Continue reading

MICROFINANCE PUBLICATION WRAP-UP: “Spotlight on the Market, The Impact Investor Study;” by Yasemin Saltuk, Ali El Idrissi; published by J.P. Morgan Global Social Finance, Global Impact Investing Network

Spotlight on the Market, The Impact Investor Study;” published by J.P. Morgan Global Social Finance and Global Impact Investing Network; May 2014; 52 pages; available at http://www.jpmorganchase.com/corporate/socialfinance/document/140502-Spotlight_on_the_market-FINAL.pdf

This study, prepared by US-based financial institution J.P. Morgan and US-based nonprofit Global Impact Investing Network (GIIN), details the findings of the organizations’ fourth annual survey about “impact investments,” which are defined as those made “with the intention to generate social and environmental impact alongside a financial return.” Continue reading

MICROFINANCE EVENT: Microcredit Summit Campaign, Mexican Ministry of Economy to Host 17th Microcredit Summit “Generation Next: Innovations in Microfinance,” September 3-5, 2014, Merida, Mexico

Event Name: 17th Microcredit Summit “Generation Next: Innovations in Microfinance”

Event Date: September 3-5, 2014

Event Location: Centro de Convenciones Yucatán Siglo XXI, Merida, Mexico Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $4.8m in Fondo Para el Desarrollo (FONDESA) to Support Financial Inclusion in Dominican Republic

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has disbursed a three-year, DOP 200 million (USD 4.8 million) loan to Fondo Para el Desarrollo Incorporated (FONDESA), a nonprofit microfinance institution in the Dominican Republic. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4m to Mikrofin Banja Luka of Bosnia and Herzegovina for On-lending to 2,000 Micro-, Small Enterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has disbursed a senior loan of EUR 3 million (USD 4.1 million) to microfinance institution Mikrofin Banja Luka of Bosnia and Herzegovina to increase the company’s lending capacity and expand loan services to approximately 2,000 micro- and small enterprises in the country. Continue reading

MICROCAPITAL BRIEF: Nettcash of Zimbabwe Launches Mobile Money Service

Nettcash Zimbabwe, which is owned by Nigeria’s Coporeti Services, reportedly has started offering a service in Zimbabwe that allows customers to send and receive funds to and from users of any participating mobile network provider in Zimbabwe through short message service (SMS, also known as text messaging), a web platform and interactive voice response via telephone. Continue reading

MICROCAPITAL BRIEF: Chinese Unit of Opportunity International (OI) Buys Mambu Cloud Banking Software to Support Lending to Small, Medium-Sized Enterprises (SMEs)

Opportunity International (OI), a US-based nonprofit providing microfinance in 22 countries, has selected Mambu, a German firm offering a cloud-based banking platform, to provide banking software for OI’s lending to small and medium-sized enterprises (SMEs) in China. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers Implementing $27m Western Balkans “Women in Business” Financing Program

The European Bank for Reconstruction and Development (EBRD), a multilateral funder, is considering implementing a Western Balkans “Women in Business Financing Program” (WiB Program) in Albania, Bosnia and Herzegovina, The Former Yugoslav Republic of Macedonia, Kosovo, Montenegro and Serbia. Continue reading

MICROCAPITAL BRIEF: Lok Capital, Creation Investments Invest Total of $13m in Indian Microfinance Institution Equitas Holdings

Two institutional investors, Lok Capital LLC (Lok Capital), a Mauritius-based investment vehicle, and Creation Investments Capital Management Limited Liability Corporation (LLC) (Creation Investments), a US-based alternative investment management company, reportedly have invested a cumulative sum of INR 800 million (USD 13.7 million) in Equitas Holdings Private Limited (Equitas), a Chennai-based microfinance institution (MFI). Continue reading

MICROCAPITAL BRIEF: Amret Receives $10m Loan from Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) for Micro-, Small, Medium-Sized Enterprises (MSMEs) in Cambodia

Amret Microfinance, a Cambodian microfinance institution (MFI), reportedly has borrowed USD 10 million from German development bank Kreditanstalt für Wiederaufbau (KfW) for the purpose of expanding Amret’s financing for small businesses in Cambodia. Continue reading

MICROCAPITAL BRIEF: Uruguayan Financial Inclusion Law Mandates Government Payments be Made Electronically, Gives Tax Brake to Cash-less Transactions

The Uruguayan Parliament reportedly has announced the approval of a new financial inclusion law that mandates that workers and retired people must start receiving their paychecks and work benefits through bank accounts or electronic money services within four years. Continue reading

MICROCAPITAL BRIEF: Vodafone, ICICI Bank of India Launch Mobile Payments of Government Health Care Subsidies via M-Pesa

Vodafone Group Private Limited Corporation, a British mobile network operator, and ICICI Bank, a commercial bank in India, reportedly have launched a pilot service to deliver subsidies to individuals via M-Pesa, a mobile-money system developed by Vodafone from Janani Suraksha Yojna, a government scheme to decrease neo-natal and maternal deaths by providing delivery and post-delivery care. Continue reading