Two India-based private equity firms recently exchanged a minority stake in India’s Fincare Small Finance Bank (SFB). Motilal Oswal Private Equity (MOPE) bought the shares through its India Business Excellence Fund-III for USD 25 million from True North. Although the size of the stake has not been disclosed, True North previously held 7.25 percent of the shares of Fincare SFB and
MICROCAPITAL BRIEF: Applications for $60k Arab Financial Inclusion Innovation Prize (AFIIP) Open Through June 25, 2021
The organizers of the Arab Financial Inclusion Innovative Prize (AFIIP) are now accepting applications from financial services practitioners to compete for an award of USD 60,000 plus technical assistance in implementing their ideas. In past years, AFIIP has offered a financial inclusion prize for innovation in Arab nations that improves financial services catering to poor people as well as
MICROCAPITAL BRIEF: Amartha Raises $28m in Equity from Mandiri, MDI, UOB, WWB for Credit Scoring, E-commerce, Peer-to-peer Lending for Women Microentrepreneurs in Rural Indonesia
Amartha, a firm offering peer-to-peer lending and other services in Indonesia, recently raised USD 28 million in equity from two previous investors in the firm as well as Indonesia-based Metra Digital Innovation (MDI) Ventures and the Women’s World Banking (WWB) Capital Partners II fund of the US-based nonprofit WWB. The previous investors increasing their stakes are
MICROCAPITAL BRIEF: DFC Agrees to Loan $100m to WaterEquity Global Access Fund to Boost Access to Clean Drinking Water, Sanitation
The government-backed US International Development Finance Corporation (DFC) recently agreed to loan USD 100 million to the WaterEquity Global Access Fund and disbursed the first tranche of USD 25 million. US-based investment manager WaterEquity launched the Global Access Fund with the goal of raising USD 150 million to “empower at least 5 million people to access improved water and sanitation across Asia, Latin America and Africa.” The terms of the loan from DFC
MICROCAPITAL BRIEF: BancoSol Adds “GanaSol” Game to Mobile App to Incentivize Financial Services Usage in Bolivia
Banco Solidario (BancoSol), a Bolivian commercial bank that primarily offers microfinance services, recently upgraded its mobile app to include “gamified” software intended to boost its customers’ usage of mobile banking. GanaSol allows users to earn points by “maintaining or increasing their savings account balances;” the points can
MICROCAPITAL BRIEF: FINCA Expands Microfinance Fintech in Uganda, Azerbaijan, Kyrgyzstan
FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia.
FINCA Uganda launched a “Digital is Here” campaign in partnership with Centenary Bank, a commercial institution serving 1.8 million customers
MICROCAPITAL BRIEF: Eamar Microfinance Launches Digital Services in Yemen
Eamar Microfinance of Yemen recently began piloting digital microfinance services in the country. While it is not clear which of these is now available digitally, the microfinance institution offers:
SPECIAL REPORT: e-MFP “Financial Inclusion Compass” Survey of Trends, Forecasts Open Until May 31
From 
the European Microfinance Platform (e-MFP): The Financial Inclusion Compass has, since its launch in 2018, grown to be one of the most important ways of taking the “pulse” of the sector, giving practitioners, investors, donors, academics and support service providers the opportunity to evaluate and describe the importance of various current Trends, rate and give opinions on New Areas of Focus, and provide
MICROCAPITAL BRIEF: YCash Partnering with Red Cross on Digital Payments, Offering Door-to-door Service Due to COVID-19 Pandemic, Conflict in Yemen
YCash, a company in Yemen also known as the National Cash Transfer Company, recently partnered with the International Committee of the Red Cross (ICRC), a humanitarian organization based in Switzerland, to provide cash transfers to ICRC clients “through
MICROCAPITAL BRIEF: IFC Invests $24m in Evolving Europe Principal Investments Fund (EEPIF) to Boost SME Finance
The International Finance Corporation (IFC), a member of the World Bank Group, recently invested EUR 20 million (USD 24.2 million) in the Evolving Europe Principal Investments Fund (EEPIF), which is managed by UK-based private equity firm Integral Venture Partners, with the goal of improving the financial inclusion of small and medium-sized enterprises (SMEs) in 14 countries. Among the countries to receive investment are
MICROCAPITAL BRIEF: Sri Lanka to Fight Overindebtedness Among Microfinance Borrowers with Subsidies, Infrastructure, Reimbursements to Lenders; Emphasizing Rural Women
The government of Sri Lanka is working to address overindebtedness in the country through the following strategies: (1) subsidized loans targeted at rural women in the Northern and North Central provinces; (2) the construction of rural infrastructure to improve the outreach of microfinance institutions (MFIs) in remote areas; and
MICROCAPITAL BRIEF: Cívico of Colombia Launches “Negocios” App to Help MSMEs Advertise, Sell, Maintain Customer Relationships Online
Cívico, a Colombia-based online marketplace, networking and loan platform for micro-, small, and medium-sized enterprises (MSMEs), recently launched a mobile app called Negocios that allows users to “create a digital presence for their businesses, upload and sell their products, and connect with their clients.” Cívico also is using the app to collect data on the MSMEs’ interactions with their customers “to
MICROCAPITAL BRIEF: Central Bank of Iraq, Mastercard Seek to Boost Digital Payments, Financial Inclusion
Mastercard, a US-based financial services company, recently entered a partnership with the Central Bank of Iraq to expand Iraq’s digital finance ecosystem with the aims of furthering financial inclusion, moving toward a cashless society and promoting socio-economic development in general. The effort will begin by digitizing tuition payments before expanding to address consumer spending, government collections and
MICROCAPITAL BRIEF: Finnvera to Issue $780m in Pandemic-relief Loans in Finland with 75% Guarantee from EIB
Finnvera, a financier owned by the government of Finland, recently joined the Pan-European Guarantee Fund (EGF), an investment vehicle with EUR 25 billion (USD 29 billion) intended to catalyze an additional EUR 200 billion (USD 241 billion) in liquidity for firms adjusting to the COVID-19 pandemic. Under the program, Finnvera plans to lend EUR 650 million (USD 780 million) by December to firms in Finland that have more than
MICROCAPITAL BRIEF: ADB Loans $40m to CD Finance of the People’s Republic of China for Microfinance, Mainly for Rural Women
The Chinese microfinance institution CD Finance recently secured a loan of USD 40 million from the Asian Development Bank (ADB) to finance microloans intended to improve the quality of life of farmers, microentrepreneurs and women in rural areas of the People’s Republic of China (PRC). Sixty percent of the total is allocated to
MICROCAPITAL BRIEF: Numida of Uganda Raises $2.3m in Equity to Scale Digital Lending in Partnership with MFS Africa
Numida, a financial technology (fintech) firm in Uganda, recently raised USD 2.3 million in seed funding from a group of investors led by South Africa’s Mobile Financial Solutions (MFS) Africa, whose infrastructure Numida plans to use to expand outside of Uganda and launch unspecified additional digital financial products. The other investors were the US-based
MICROCAPITAL BRIEF: Solomon Islands Launches 3rd National Financial Inclusion Strategy
Prime Minister Manasseb Sogavare of the Solomon Islands recently announced the launch of the nation’s third National Financial Inclusion Strategy, which covers the years 2021 to 2025. The strategy was developed by the Central Bank of Solomon Islands and is partially
MICROCAPITAL BRIEF: ECCAS, UNCDF Pursue Better Digital Remittances To, Within Central Africa
The 11-member Economic Community of Central African States (ECCAS) and the UN Capital Development Fund (UNCDF) recently entered a two-year agreement through which they aim to expand “affordable and convenient access to digital remittances” for migrants transferring money to family members in their home countries. Priti Sinha, the Executive Secretary of UNCDF said,