MICROCAPITAL BRIEF: Canadian Government, KfW Contract with Développement international Desjardins (DiD) to Develop Capacity of Benin’s Microfinance Industry

Canada’s Développement international Desjardins (DiD) recently announced it has received funding from the Canadian government and Germany’s KfW (Kreditanstalt für Wiederaufbau) Development Bank to continue its work to strengthen Benin’s financial sector. The Canadian government awarded DiD a six-year contract to support 10 financial institutions and four related organizations Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Canadian Government, KfW Contract with Développement international Desjardins (DiD) to Develop Capacity of Benin’s Microfinance Industry Posted in Africa, Agriculture / Rural Finance, Deals

MICROCAPITAL BRIEF: India’s Microfinance Institutions Network (MFIN) Launches Financial Literacy App in 5 Languages

The Microfinance Institutions Network (MFIN), a self-regulatory organization of 53 Indian microfinance and non-banking financial institutions, recently launched a financial literacy app in English, Hindi, Marathi, Tamil and Telugu. The app offers users their credit histories, interest rates, payment cycles Continue reading

SPECIAL REPORT: African Microfinance Week (SAM) Registration Open for Sessions Starting October 9, 2017, in Addis Ababa, Ethiopia

Registration opened today for African Microfinance Week, also known as Semaine Africaine de la Microfinance (SAM), which will focus on “Creating Value for SMEs.” The event, which will begin on October 9, 2017, in Addis Ababa, Ethiopia, will include research presentations, an Innovation Fair and an Investor’s Fair. Several initiatives will hold events in conjunction with SAM, including ADA, the Africa Board Fellowship, CGAP (the Consultative Group to Assist the Poor), Connexus, Microfact, the Risk Management Initiative in Microfinance, the Social Performance Task Force and the UN’s Food and Agriculture Organization. More details on the agenda will be forthcoming soon.

Although the standard fee to attend is EUR 550, MicroCapital readers may enjoy a rate of Continue reading

MICROCAPITAL BRIEF: Uzbekistan Liberalizes Lending Rules for Microenterprises in Remote Areas, in Regions of High Unemployment or Lacking Established Legal Status

The government of Uzbekistan recently announced that it will allow small-scale entrepreneurs to access loans of up to 20 times country’s monthly minimum wage of UZS 149,775 (USD 40) “without the establishment of legal entit[ies].” Continue reading

MICROCAPITAL BRIEF: Dragon Capital, Ruby Hill Launching Microfinance Institution in Myanmar

Dragon Capital Group, a Vietnam-based investment company with operations in Asia and Europe, and Ruby Hill Financial, a Myanmar-based financial services provider, recently announced that they are launching a microfinance institution called Ruby Hill Microfinance in the city of Yangon, Myanmar. Ruby Hill Financial Continue reading

MICROCAPITAL BRIEF: Iceland’s Creditinfo Launches Credit Bureau in Azerbaijan; 21 Local Financial Institutions Hold Equity Stakes

Creditinfo Group, an Iceland-based operator of credit reporting firms in 25 markets worldwide, recently launched a credit bureau in Azerbaijan that it co-owns with 21 financial institutions in the country. The International Finance Corporation (IFC), a member of the World Bank Group, participated in developing Continue reading

MICROCAPITAL BRIEF: Zimbabwe May Require Banks to Accept Moveable Collateral Such as Livestock, Accounts Receivable, Vehicles in Effort to Boost Financial Inclusion

The party of Zimbabwean President Robert Mugabe recently proposed a law that would require lenders to accept “moveable” assets, such as machinery, vehicles, livestock and accounts receivable, as collateral. Finance Minister, Patrick Chinamasa, said the legislation would “promote Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Zimbabwe May Require Banks to Accept Moveable Collateral Such as Livestock, Accounts Receivable, Vehicles in Effort to Boost Financial Inclusion Posted in Africa, Agriculture / Rural Finance

MICROCAPITAL BRIEF: MicroFinanza Issues 13 Institutional, Credit, TrueLift Ratings to Microfinance Institutions in Haiti, Latin America, Togo

During April 2017, Italy’s MicroFinanza Rating issued four microfinance institutional ratings. Two of these were to affiliates of French NGO Entrepreneurs du Monde: BB- with a stable outlook to Assilassimé Solidarité of Togo and CC “under observation” to Palmis Mikwofinans Sosyal of Haiti. The other two are Continue reading

MICROFINANCE EVENT: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion; May 22 – 23, 2017; Kuala Lumpur, Malaysia; Asian Banking School Training for Practitioners; May 24 – 26, 2017

Event Name: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion

Dates: May 22 – May 23, 2017

Location: Kuala Lumpur, Malaysia

Summary of Event: This symposium will consist of discussions and presentations on scaling up through innovative channels, deploying digital credit, design thinking, using “big data,” and credit risk assessment and risk management [1]. Following the symposium, the Asian Banking School is offering a three-day training Continue reading

MICROCAPITAL BRIEF: European Investment Bank (EIB) Provides Credit Lines Totaling $101m for Equity Bank, HFC to Support Microfinance in DRC, Kenya, Tanzania, Uganda

The EU’s European Investment Bank (EIB) recently announced it has opened two new credit lines to support small-scale enterprises in the Democratic Republic of Congo, Kenya, Tanzania and Uganda. The larger credit line is in the amount of EUR 75 million (USD 80 million) in the name of Equity Bank, a Kenya-based Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Investment Bank (EIB) Provides Credit Lines Totaling $101m for Equity Bank, HFC to Support Microfinance in DRC, Kenya, Tanzania, Uganda Posted in Africa, Investment Funds

MICROCAPITAL BRIEF: Ant Financial, Ayala Buy Equity Stakes in Globe’s Mynt, Operator of the Philippines’ GCash, Fuse Lending

Ant Financial Services Group (Ant Fin), a member of China’s Alibaba Group, and Ayala Corporation, a Philippine conglomerate, recently announced their purchases of minority stakes in Globe Fintech Innovations, a financial technology (fintech) affiliate of Globe Telecom that uses the trade name Mynt. Mynt operates GCash, a mobile money Continue reading

MICROFINANCE EVENT: Social Performance Task Force (SPTF) Annual Meeting; June 6 – 8, 2017, Mexico City, Mexico

Event Name: Social Performance Task Force 2017 Annual Meeting

Event Date: June 6 – June 8, 2017

Event Location: Mexico City, Mexico

Summary of Event: This meeting will include plenary speeches, working group meetings and networking sessions relating to financial inclusion regulation, social outcomes data collection, and analysis and advances in “client-centric” technology [2]. The event will begin with an introductory session on the Universal Standards for Social Performance Management (SPM) and the resources available to financial service providers for measuring and improving their social performance. This is the first time this event is taking place in Latin America since 2013. Continue reading

MICROFINANCE EVENT: Dot Finance Africa Presents Its Second Fintech Conference on May 17 – 18, 2017 in Kigali, Rwanda

Event Name: Dot Finance Africa

Event Date: May 17 – May 18, 2017

Event Location: Kigali, Rwanda

Summary of Event: This event will include speeches and discussions on financial technology (fintech) topics including artificial intelligence, blockchain databases, client protection, collaboration, Continue reading

MICROCAPITAL BRIEF: World Bank Providing $130m for Financial Inclusion Effort in Pakistan

The government of Pakistan recently announced the start the Pakistan Financial Inclusion and Infrastructure Project with funding totaling USD 130 million from two arms of the World Bank, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Three Pakistani organizations will carry out the project: the Pakistan Microfinance Investment Company, a new organization funded by Continue reading

MICROCAPITAL BRIEF: C-Quadrat’s Vision Microfinance Funds Loan $46m, Largely in Asia, Panama, Tanzania

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 46 million to unidentified providers of financial services in Cambodia, India, Panama, Sri Lanka, Tanzania and Continue reading

MICROCAPITAL BRIEF: Financiera FINCA Nicaragua Launches $10m Bond Offering to Expand Microfinance Lending

Financiera FINCA Nicaragua, an affiliate of US-based microfinance NGO FINCA International, recently registered a bond program totaling the equivalent of USD 10 million from which it subsequently issued one- and three-year bonds totaling USD 1.1 million. Investors over-subscribed Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Financiera FINCA Nicaragua Launches $10m Bond Offering to Expand Microfinance Lending Posted in Deals, Latin America

MICROFINANCE EVENT: 5th European Research Conference on Microfinance; June 12 – 14, 2017; Portsmouth, UK

Event Name: 5th European Research Conference on Microfinance

Event Date: June 12 – June 14, 2017

Event Location: Portsmouth, United Kingdom Continue reading

MICROCAPITAL BRIEF: Tala Raises $30m in Series B Equity from IVP, Ribbit Capital, Existing Investors to Expand Mobile Phone Microlending in Asia, Latin America

Tala, a US-based microlender serving East Africa and Southeast Asia via mobile phone apps, recently raised USD 30 million through its Series B equity round in order to expand its services into South Asia and Latin America. Tala provides loans between USD 10 Continue reading