MICROCAPITAL BRIEF: Tigo Tanzania Distributes $2.5m in Profit to Customers, Agents of Digital Payment Platform Tigo Pesa

Tigo Tanzania, a brand of Swedish telecom provider Millicom, recently announced it paid TZS 5.6 billion (USD 2.5 million) of its profits to Tigo Pesa users. Continue reading

MICROCAPITAL BRIEF: IDFC Bank Acquires India’s Grama Vidiyal Micro Finance

The Infrastructure Development Finance Company (IDFC) Bank, an Indian for-profit private company providing banking and other financial services, recently acquired Grama Vidiyal Micro Finance, a microfinance institution (MFI) headquartered in the Indian state of Tamil Nadu, increasing its rural and semi-urban customer base by 1.2 million. Continue reading

MICROCAPITAL BRIEF: Sanad Fund for MSME Announces $10m Loan to Moroccan Microfinance Institution Albaraka

The Sanad Fund for MSME (Micro Small and Medium Enterprises), a provider of loans and equity to financial institutions in the Middle East and North Africa, recently announced a partnership with Albaraka, a Moroccan microfinance institution (MFI), Continue reading

MICROCAPITAL BRIEF: Tanzania’s National Microfinance Bank Lists $18m in Bonds on Dar Es Salaam Stock Exchange

The National Microfinance Bank (NMB), an institution backed by the government of Tanzania, recently announced that it has listed TZS 41.4 billion (USD 18.8 million) in three-year retail bonds on the Dar es Salaam Stock Exchange (DSE), the listing surpassed its initial retail bond target by 107 percent. Continue reading

MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $15m in Equity as Aavishkaar Goodwell Exits

Suryoday Micro Finance Private Limited , a non-banking finance company providing microfinance services in India, recently raised INR 1 billion (USD 15 million) from investors including the Infrastructure Development Finance Company (IDFC) Bank; ASK Pravi; the Housing Development Finance Corporation (HDFC) Standard Life Insurance; Arpwood Investment Advisors; Kiran Vyapar, the investment arm of LN Bangur Group; Polaris Banyan Holding and Dr. Aravind Srinivasan [2]. Continue reading

MICROCAPITAL BRIEF: Canadian Government Donates $6.7m to DID, Sanasa to Establish Entrepreneur Financial Centre (EFC) Offering Microfinance in Sri Lanka

The Canadian government recently announced a donation of CAD 8.8 million (USD 6.7 million) to be disbursed over four years for the creation of an Entrepreneur Financial Centre (EFC) in Sri Lanka, jointly implemented by Développement International Desjardins (DID), a unit of Canadian cooperative Desjardins Group that promotes financial services in developing countries, and Sanasa Development Bank PLC, a Sri Lankan bank that provides low-income people with loans, voluntary savings, leasing and fund transfer services. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

MICROCAPITAL BRIEF: Developing World Markets Closes Debt Investments Totaling $8.3m in Armenia, Colombia, India, Nicaragua

Developing World Markets (DWM), a US-based asset manager and investment bank, recently announced that it issued loans in February and March 2016 to four unidentified financial institutions serving microentrepreneurs, including a Colombian bank and non-banking financial institutions (NBFIs) in Armenia, India and Nicaragua. Continue reading

MICROCAPITAL BRIEF: Symbiotics Group Issues “Impact” Finance Bonds of $9m for India’s Fusion Microfinance Private Limited, $7.5m to Sri Lanka’s LOMC, $3.5m to India’s Saija

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

MICROFINANCE PUBLICATION ROUND-UP: Household Responses to Village Bank Access in Laos; Mobile Banking in Kenya; The Role of Banks in Driving Financial Inclusion

“Household Responses to Access to Finance Through GIZ-AFP Village Banks;” published by the Laos-Australia Development Learning Facility; February 2016; 50 pages; available at: http://ladlf.org/images/publications/030516_LADLF_GIZ_HH_Response_to_A2F_Final.pdf Continue reading

MICROCAPITAL BRIEF: Asian Development Bank Bond Sale Raises $30m to Boost Local Microenterprises Served by Credo Microfinance, FINCA Georgia

The Asian Development Bank (ADB), a multilateral development banking institution based in the Philippines, recently announced it has raised GEL 64 million (approximately USD 30 million) through a sale of bonds denominated in Georgian lari. Continue reading

MICROCAPITAL BRIEF: Nigeria to Disburse $462m in Loans to 1.7m Traders, Artisans, Farmers; $231m in Conditional Cash Transfers

The Nigerian government recently announced that NGN 68.7 billion (approximately USD 231 million) of its NGN 500 billion (approximately USD 1.7 billion) social investment programme will be used as a conditional cash transfer (CCT) scheme for 1 million “extremely poor and vulnerable Nigerians”[2]. Continue reading

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MICROCAPITAL BRIEF: Controversy Brews as For-Profit Fintech Provider MyBucks Buys 6 African Microfinance Organizations from Nonprofit Opportunity International

The sale of microfinance institutions (MFIs) in Ghana, Kenya, Malawi, Mozambique, Tanzania and Uganda over the first half of 2016 by US-based NGO Opportunity International to Luxembourg-based financial technology company MyBucks has raised concerns both that these MFIs’ clients could be negatively impacted and that these transactions signal that the sector’s overall direction has shifted toward profit-making. Continue reading

MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $12m to Microfinance Institutions (MFIs) in Asia, Latin America, Tanzania

During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in Continue reading

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $5m to Cambodia’s Chamroeun, AMK, LOLC Micro Credit

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has disbursed the following loans to Cambodian microfinance institutions (MFIs): the local-currency equivalent of USD 540,000 to Chamroeun Microfinance; a pair of transactions totaling USD 2.2 million to Angkor Mikroheranhvatho Kampuchea (AMK), which was founded by Ireland-based NGO Concern Worldwide; and USD 2.2 million to the Lanka Orix Leasing Company Micro Credit Limited (LOMC), which was formerly known Continue reading

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Releases Categorization System for “Non-interest Islamic Microfinance Banks”

The Central Bank of Nigeria (CBN), the country’s central banking authority, recently released a new categorization system for “Non-Interest Islamic Microfinance Banks” (NIMFBs). Such institutions operate under Islamic principles that prohibit charging interest, instead using arrangements such as the sharing of profit and loss. Continue reading

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MICROCAPITAL BRIEF: Philippine Department of Education (DepEd) Introduces Training on Financial Literacy for Senior High School Students

The Philippine Department of Education (DepEd) recently announced that financial literacy training will be included in the curriculum of senior high school students. Continue reading

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $555k to Indonesia’s Koperasi Mitra Dhuafa (Komida)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women. Continue reading