MICROFINANCE PAPER WRAP-UP: “Beyond Wage Digitization: Financial Capability and Economic Empowerment of Cambodian Women Migrant Workers,” Published by Women’s World Banking (WWB)

This report analyzes the financial awareness, financial behaviors and economic empowerment of 2,800 women – mostly migrants – who work in 13 factories in Cambodia and are paid via digital accounts with Wing Bank. The authors’ initial literature review indicated

MICROFINANCE EVENT: FinovateFall; September 12-14, 2022; New York, NY, USA

The goal of the Finovate series is to spotlight innovations in financial technology (fintech) from startups and established leaders alike. Two days of the event will showcase 75 product demonstrations. A separate conference day will focus on selecting technologies to maximize competitiveness. While this year’s agenda has not yet been released, session titles from the 2021 conference include “Harnessing Partnerships to Drive Financial Inclusion & Improve Financial Health,” “The Future of Digital Identity Is Now,” “Harnessing AI [Artificial Intelligence] to Democratise Home Buying,” “Decentralised

MICROCAPITAL BRIEF: Fintech TerraMagna Raises $40m in Debt, Equity from Milenio, Shift, SoftBank to Boost Lending Along Agricultural Value Chains in Brazil

TerraMagna, a Brazilian agricultural financial technology (fintech) company, recently raised USD 30 million in debt and USD 10 million in equity funding from Japan’s SoftBank Group, via its SoftBank Latin America Fund, and two Brazilian finance firms, Milenio Capital and Shift Capital. The breakdown of the investments by investor and the sizes of the stakes taken have not been released. In addition to lending to sellers of agricultural inputs and tools,

MICROCAPITAL BRIEF: Microinvest of Moldova Borrows $3.4m from IIV for Microfinance, SME Lending

Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has lent the second of two tranches to Microinvest, a lender to households as well as small and medium-sized enterprises (SMEs) in Moldova, on behalf of Germany-based Invest in Visions (IIV). The disbursement of EUR 3 million (USD 3.4 million) completes an agreement between the parties valued at

MICROFINANCE EVENT: Impact Investing World Forum; April 28-29, 2022; London, UK

This conference will cover topics such as investing in gender equality and mitigating and adjusting to climate change. The speakers are to include representatives from organizations such as Big Issue, the EU, Goldman Sachs, the Organization for Economic Cooperation and Development, UBS (Union Bank of Switzerland), and the World Bank Group’s International Finance Corporation. Among the session topics are “The Anatomy of a Deal During COVID-19 and Beyond,” “Investing in Housing as Part of Criminal Justice Reform,” “Impact Investing in

MICROCAPITAL BRIEF: Study-abroad Firm Leverage Edu Facilitating Student Access to Finance, Banking Services, Cross-border Remittances

Leverage Edu, which offers platforms for students in India looking to study in other countries, recently launched Leverage Finance, a unit facilitating loans to pay for tuition, cross-border remittances, and remote opening of bank accounts in countries to which students will travel for their education. During the pilot phase of the service, Leverage Finance customers accessed loans totaling INR 750 million (USD 10 million) and opened approximately 500 accounts at banks in Canada and the UK. Going forward, the firm plans to:

MICROCAPITAL BRIEF: EDPYME Alternativa of Peru Borrows $5m from Huruma Fund to Provide Farmers with Asset Finance

Huruma Fund, a Spain-based vehicle supporting rural financial services providers in low- and moderate-income countries, recently lent EUR 4 million (USD 5 million) to Entidad de Desarrollo a la Pequeña y Micro Empresa (EDPYME) Alternativa, a microfinance institution (MFI) in Peru that serves rural populations. The goal of the investment is to assist small-scale farmers through increased outreach and new products focused on farmers’ needs.

Alternativa was founded in 1992 and plans to use the new funds to issue 8,600 loans to farmers, some for fixed assets, with repayment terms as long as

MICROCAPITAL BRIEF: Incofin Lends $1.5m from Fairtrade Access Fund to Lafaza to Support Vanilla Farmers in Sava Region of Madagascar

Belgium’s Incofin Investment Management recently lent USD 1.5 million from the Fairtrade Access Fund (FAF) to Lafaza Trading, a company with offices in Madagascar and the US that buys vanilla and other spices “directly [from 1,000] smallholder farm owners who use organic and sustainable agricultural practices.” Lafaza works with farmers to help them

MICROCAPITAL BRIEF: Verdant Capital Hybrid Fund Closes with $34m from KfW to Invest in Microfinance, SME Lenders in Africa

Verdant Capital, an African corporate finance firm, recently announced the first close of its Verdant Capital Hybrid Fund (VCHF), with USD 36 million in public and private commitments. Verdant will deploy investments from VCHF to support funders of micro-, small and medium-sized enterprises (MSMEs). Its goals are the “creation of employment and income generation” in keeping with “high

MICROCAPITAL BRIEF: In Response to COVID-19 Pandemic, Khalti Broadens E-commerce Platform to Offer Deliveries from MSMEs to Customers in Nepal

Khalti, a Nepal-based provider of digital financial services, has modified its digital platform to support micro-, small and medium-sized enterprises (MSMEs) in Nepal, including small shops known as kirana stores, with the support of the UN Capital Development Fund (UNCDF). Before the COVID-19 pandemic, Khalti offered a service through which enterprises could open digital storefronts to sell their services and collect payments. In adjusting to the pandemic, Khalti started

MICROCAPITAL BRIEF: Incofin Investment Management Names Buysens, Peetermans Co-CEOs

The Belgian impact investing firm Incofin Investment Management announced today that it has promoted two of its senior staff members to lead the company as co-CEOs: Paul Buysens, who joined Incofin in 2018 as its COO, and Geert Peetermans, who has 20 years of service as

MICROFINANCE EVENT: World Finance Conference; August 1-3, 2022; Turin, Italy

This conference promotes the exchange of ideas in research, teaching and managerial practices relating to finance, economics and banking. Although the detailed agenda for this year has not yet been finalized, the last iteration of the event included topics such as microsavings, interest rates,

MICROCAPITAL BRIEF: Empire, Mosabi, Orange, UNCDF Seek to Boost Financial Inclusion in Sierra Leone with Focus on Financial Literacy, Recruiting Women as Mobile Money Agents

The UN Capital Development Fund (UNCDF) recently embarked on a partnership with France-based Orange Mobile Finance (Orange Money); Mosabi, a US-based digital education and finance platform; and Empire Solutions, a digital microfinance institution in Sierra Leone, in an effort to boost access to finance for low-income people – including women and youth – in Sierra Leone by increasing:

MICROCAPITAL BRIEF: Symbiotics Partners with Cooperative CACPECO on $14m Bond for Housing, MSME Lending in Ecuador

Symbiotics, a Switzerland-based impact investing firm, recently partnered with Cooperativa de Ahorro y Crédito de la Pequeña Empresa de Cotopaxi (CACPECO), a cooperative in Ecuador, to fund it with the proceeds of a bond in the amount of USD 14 million, for a term of 4 years. The funds are to be used for: (1) housing loans with 15-year terms and interest rates of 9.9 percent per year; and (2) business loans of up to USD 1 million for micro-, small and medium-sized enterprises (MSMEs). Of the MSME loans,

MICROFINANCE EVENT: Webinar: How Technology Drives Financial Inclusion in Tajikistan – A Case Study of Humo Lab; January 20, 2022

Sponsored by Gojo & Company: Gojo is hosting this webinar to share how Microfinance Deposit Organization Humo, its newest partner company, has established Humo Lab to spearhead digitalization and innovation. At Humo Lab, several products have been developed and launched, including mobile banking apps, payment apps, kiosks and more. The webinar will focus

MICROCAPITAL BRIEF: FMO Lends $5.7m to Fin’Elle of Groupe Cofina to Support Women-led MSMEs in Agriculture Sector of Côte d’Ivoire

La Finance pour Elle (Fin’Elle), a unit of the Côte d’Ivoire-based Groupe Cofina, recently borrowed EUR 5 million (USD 5.7 million) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. Fin’Elle Board President Marema Bao commented that the partnership will

MICROCAPITAL BRIEF: Medical Credit Fund Raises $37m from the Netherlands’ Government, Philips, European DFIs to Boost Financing for SMEs to Fight Malaria, Boost Maternal Health in Africa

Medical Credit Fund (MCF), one of the four nonprofit members of the Netherlands-based PharmAccess Group, recently raised a mix of equity and debt totaling EUR 32.5 million (USD 36.7 million) to “expand the Fund’s presence and support to healthcare providers in sub-Saharan Africa.” In particular, the new funding is slated for investment in

MICROCAPITAL BRIEF: EBRD Loans $5.6m to Banka per Biznes to Boost Competitiveness of SMEs in Kosovo

The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution, recently loaned EUR 5 million (USD 5.6 million) to Banka per Biznes, a commercial bank based in the city of Pristina, Kosovo. The loan is a joint initiative of EBRD and the EU under the Western Balkans SME Competitiveness Support Programme, which supports small and medium-sized enterprises (SMEs) in accessing markets in the Western Balkans – and Europe in general – by encouraging investment in “environmental