MICROCAPITAL BRIEF: Habitat for Humanity International, MasterCard Foundation Partner to Support Housing Microfinance in Kenya

Habitat for Humanity, a US-based nonprofit that seeks to provide poor people with clean, safe and affordable housing, and MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, reportedly are partnering to build the capacity of three unidentified Kenyan financial institutions to expand housing microfinance products over the next five years [1] [2]. Continue reading

MICROCAPITAL BRIEF: Members of Développement International Desjardins’ Proxfin Issue “Lusaka Declaration” Pledging Increased Access to Finance for Micro-, Small, Medium-sized Enterprises (MSMEs)

Proxfin, a network of the 29 community finance institution partners of Canada’s corporation Développement International Desjardins (DID), recently released the “Lusaka Declaration on the Contribution of Community Finance Institutions towards Increasing Access to Adequate Financing for Small Entrepreneurs” [1]. Continue reading

MICROCAPITAL BRIEF: Sekerbank Borrows $146m from European Fund for Southeast Europe (EFSE), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) to Fund Agricultural, Women-owned Businesses in Turkey

Sekerbank, a Turkish private bank, has borrowed EUR 59.5 million (USD 82 million) from the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution; EUR 36.3 million  (USD 50 million) from the International Finance Corporation, a member of the US-based World Bank Group; and EUR 10 million (USD 13.7 million) from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle [1] [2]. Continue reading

MICROCAPITAL BRIEF: Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic Lends $1.6m to 728 Micro-, Small, Medium-Sized Enterprises (MSMEs)

Asociación Dominicana para el Desarrollo de la Mujer  (ADOPEM), a microfinance institution (MFI) in the Dominican Republic, reportedly has provided loans totaling DOP 70 million (USD 1.65 million) to 728 micro-, small and medium-sized enterprises (MSMEs) in the country [1]. Continue reading

MICROCAPITAL BRIEF: Financial Inclusion 2020 Announces Roadmap to Financial Inclusion, Highlights Importance of Technology

Financial Inclusion 2020 (FI2020), a campaign to extend financial inclusion to 2 billion people in developing countries by the year 2020, recently announced the findings of a survey of 300 financial sector practitioners on their perspectives about opportunities and challenges to FI2020’s goals. Continue reading

MICROCAPITAL BRIEF: Aavishkaar Goodwell Invests $6m in Electronic Payment Services (EPS); 4,500 ATMs Planned for Rural India

Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, reportedly has invested an additional INR 360 million (USD 6 million) in Electronic Payment Services (EPS), an India-based company that provides electronic payment systems to merchants in Asia. Continue reading

MICROCAPITAL BRIEF: Hatton National Bank of Sri Lanka to Establish Microfinance Subsidiary

Hatton National Bank (HNB), a private commercial bank in Sri Lanka, has received approval from the Central Bank of Sri Lanka, the nation’s central banking authority, to establish a subsidiary that will manage HNB’s existing microfinance operations and “smallholder” agricultural finance services [1]. Continue reading

MICROFINANCE EVENT: Fifth Caribbean Microfinance Forum (CMF V) NEW LOCATION AND DATES

The Fifth Caribbean Microfinance Forum (CMF V), which had been scheduled to take place in Suriname from March 31, 2014, to April 3, 2014, instead will be held in Montego Bay, Jamaica, from June 2, 2014, to June 5, 2014.

The Caribbean Microfinance Forum is an annual gathering of microfinance institutions that was launched with the support of the Caribbean Microfinance Capacity Building Project (Carib-Cap), a joint effort of the US-based Multilateral Investment Fund, the Caribbean Development Bank, the EU’s European Commission and the US-based Citi Foundation.

MICROCAPITAL BRIEF: Goodwell West Africa Invests Equity in MicroCred Microfinance Bank Nigeria

Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be investing equity of an unspecified amount in Microcred Microfinance Bank (MFB) Nigeria, a member of the France-based MicroCred Group [1]. Continue reading

MICROCAPITAL BRIEF: Kenya’s Credit Information Sharing (CIS) Mechanism Expanded to Deposit-Taking Microfinance Institutions, Savings and Credit Cooperative Societies, Expected to Lower Interest Rates

A Credit Information Sharing (CIS) feature that was implemented by Kenyan financial institutions in 2010 reportedly has been expanded to include deposit-taking microfinance institutions (DTMs) and savings and credit cooperative societies (SACCOS) in an effort to increase information sharing among financial institutions [1]. Continue reading

MICROCAPITAL BRIEF: Goodwell West Africa Invests Equity in Mainstreet Microfinance Bank of Nigeria

Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be making an equity investment of an unspecified amount in Mainstreet Microfinance Bank (MFB), a microfinance institution in Nigeria [1]. Continue reading

MICROCAPITAL BRIEF: South Africa’s Futuregrowth Asset Management to Curtail Investments in Microlenders Distributing “Unsecured” Loans

Futuregrowth Asset Management, a South-Africa based investment company, recently announced that it will curtail its investments in microlenders that advance “unsecure” loans without collateral, which allegedly often results in borrowers receiving loans that they are unable to repay [1]. Continue reading

MICROCAPITAL BRIEF: Aavishkaar Goodwell, Asia Pragati Invest $3.4m in Swarna Pragati Housing Microfinance in India

Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, and Asia Pragati, an India-based non-banking financial company (NBFC) owned by Hong Kong-based Pacific Alliance Group (PAG), reportedly have invested a total of INR 210 million (USD 3.4 million) in Swarna Pragati Housing Microfinance, an Indian microfinance institution (MFI) that partners with local MFIs to provide housing loans in the country [1]. Continue reading

MICROCAPITAL BRIEF: United Bank of Switzerland (UBS) Launches “Impact Investing SME Focus Fund”

The United Bank of Switzerland (UBS), a Swiss financial services company, reportedly has launched an impact investment fund, named the “Impact Investing SME Focus Fund,” which will invest in small and medium-sized enterprises (SMEs) in unspecified emerging and frontier markets. Continue reading