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

MICROFINANCE PUBLICATION ROUND-UP: Impact of M-Pesa Mobile Money; Microinsurance in Sri Lanka; Women’s Financial Diaries in India, Kenya, Mexico

“The Long-run Poverty and Gender Impacts of Mobile Money”; by Tavneet Suri and William Jack; published in Science; December 8, 2016, 4 pages; available at http://science.sciencemag.org/content/354/6317/1288.full/

This article reviews a study that assessed the impact of the M-Pesa mobile payment service in Kenya. Continue reading

MICROCAPITAL BRIEF: Microbank LOLC (Cambodia) Authorized to Offer Leasing Services

LOLC (Cambodia) Plc, a microfinance institution (MFI) that is 60-percent owned by LOLC Micro Investment of Sri Lanka, recently received approval from the National Bank of Cambodia to offer leasing services. It is reportedly the first MFI to gain such permission. Beginning in March, LOLC (Cambodia) expects to offer both businesses and Continue reading

MICROCAPITAL BRIEF: IFC Syndicates $44m in Debt from BIB, Incofin, MicroVest, Symbiotics for KazMicroFinance (KMF) of Kazakhstan

KazMicroFinance (KMF), a microfinance institution operating in Kazakhstan, recently borrowed USD 44 million syndicated by the World Bank Group’s International Finance Corporation (IFC) in an effort to enable KMF to expand its lending to small businesses. Of the total, IFC is providing USD 5 million Continue reading

MICROCAPITAL BRIEF: India’s Muthoot Raises $20m in Equity from Creation Investments Amidst Plans to Open 500 New Microfinance Branches

Creation Investments Capital Management, a US-based alternative investment company, recently announced that it has placed an equity investment of USD 20 million in Muthoot Microfin Limited, a unit of Indian conglomerate Muthoot Pappachan Group. Muthoot Microfin Continue reading

MICROCAPITAL BRIEF: Success Microfinance Bank (Formerly Collarhedge Finance) Acquires Deposit-taking License from Reserve Bank of Zimbabwe

Success Microfinance Bank, a financial institution in Zimbabwe formerly known as Collarhedge Finance, recently received a license from the Reserve Bank of Zimbabwe allowing it to accept deposits. Microfinance banks in the country Continue reading

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MICROCAPITAL BRIEF: FMO Investing $15m in Equity in Sanad Fund for MSME for On-lending in the Middle East, North Africa

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it will place equity of USD 15 million in the debt sub-fund of the Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), which disburses “medium- and long-term” loans to financial institutions that serve MSMEs Continue reading