MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Implements Bank Verification Number (BVN) Identification System for Customers in Lagos

The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has initiated the first phase of a nationwide identification system upgrade for bank branches in Lagos. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Implements Bank Verification Number (BVN) Identification System for Customers in Lagos Posted in Africa, Events, Regulation, Technology

MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State

A Senator representing Ontario, Canada, recently announced on behalf of Christian Paradis, the country’s Minister of International Development and La Francophonie, that the government of Canada will be providing unspecified financial support to “a new project that will increase job opportunities and promote entrepreneurship among young people in Nigeria.” Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State Posted in Africa, Investment Funds

MICROCAPITAL BRIEF: responsAbility Loans $13m to Microfinance Institution FONDEP of Morocco

ResponsAbility Investments, a company based in Zurich that primarily invests in developing economies, recently notified MicroCapital that is has disbursed EUR 10 million (USD 13 million) in senior refinancing to Fondation pour le Développement Local et le Partenariat Micro-Crédit (FONDEP), a Moroccan MFI with the mission “to use microcredit to help women and youth create their own microenterprises and generate income.” Continue reading

MICROCAPITAL BRIEF: Egyptian Payment Platform Fawry to Facilitate Provision of Electronic Government Services

Fawry, an Egyptian electronic payment company, reportedly has partnered with the Egyptian government with the aim of improving financial inclusion and expanding payment options to an increased proportion of the country’s population through digital communication channels. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Egyptian Payment Platform Fawry to Facilitate Provision of Electronic Government Services Posted in Africa, Technology

MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $14m to Microfinance Institutions (MFIs) in Armenia, China, India, Peru, Tajikistan

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits in several currencies that total approximately the equivalent of USD 13.5 million to unspecified microfinance institutions (MFIs) in Armenia, China, India, Peru and Tajikistan through its Dual Return Fund-Vision Microfinance and Dual Return Fund-Vision Microfinance Local Currency. Continue reading

MICROCAPITAL BRIEF: Government-Backed Dutch Good Growth Fund Launches with $950m, Aims to Support Small, Medium-sized Enterprises (SMEs) in the Netherlands, Developing Nations

The Dutch Good Growth Fund (DGGF), a Netherlands-based loan fund that is funded with EUR 700 million (USD 947 million) from the Dutch Ministry of Foreign Affairs, has opened for business as of July 2014. Continue reading

MICROCAPITAL BRIEF: Otoritas Jasa Keuangan (OJK) to Lead Supervision of Microfinance Institutions (MFIs) in Indonesia

Otoritas Jasa Keuangan (OJK), the Indonesian government agency that regulates the country’s financial sector, reportedly has signed a cooperation agreement with the Ministry of Home Affairs, the Indonesian government agency in charge of domestic issues, and the Ministry of Cooperative and Small and Medium Enterprises, an Indonesian regulator of smaller businesses, in an effort to improve the regulation and supervision of microfinance institutions (MFIs) in Indonesia [1][2]. Continue reading

MICROCAPITAL BRIEF: AccessBank Azerbaijan Receives $15m Loan from Green for Growth Fund for Financing Energy-Efficient Projects

AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, has borrowed USD 15 million from the Green for Growth Fund, Southeast Europe (GGF), a European public-private partnership that focuses on improving energy efficiency and promoting renewable energy sources in Southeastern Europe, with the aim of increasing AccessBank’s financing of energy-efficient projects. Continue reading

MICROCAPITAL BRIEF: Gemalto, GSM Association to Provide Mobile Services to Support “Pan-African Mobile Health Initiative” for Mothers, Children

Gemalto, a publicly traded digital security firm located in the Netherlands, reportedly has announced its support of the Pan-African Mobile Health Initiative (PAMI), which uses mobile phones to address issues in nutrition and maternal and child health in seven African countries. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Gemalto, GSM Association to Provide Mobile Services to Support “Pan-African Mobile Health Initiative” for Mothers, Children Posted in Africa, Mobile Money, Technology

MICROCAPITAL BRIEF: World Bank Group (WBG) Loans $12m, Donates $12m to Government of Mozambique for Financial Sector Reform, Including to Boost Financial Inclusion

The World Bank Group (WBG), a US-based multilateral financial institution recently approved a USD 25 million financing package consisting of a loan of USD 12.5 million and a grant of USD 12.5 million to support the “First Programmatic Financial Sector Development Policy Operation (DPO)”[1] of the government of Mozambique. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: World Bank Group (WBG) Loans $12m, Donates $12m to Government of Mozambique for Financial Sector Reform, Including to Boost Financial Inclusion Posted in Africa, Deals

MICROCAPITAL BRIEF: Mentors International Implements Mambu’s Cloud Banking Software to Support Lending to Small, Medium-sized Enterprises in El Salvador, Guatemala, Honduras, Peru, Philippines

Mentors International, a US-based nonprofit microfinance institution (MFI) that seeks to help poor people in developing countries become self-sufficient, recently has signed on to use the banking software of Mambu, a Germany-based technology company that offers cloud-based banking solutions. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Mentors International Implements Mambu’s Cloud Banking Software to Support Lending to Small, Medium-sized Enterprises in El Salvador, Guatemala, Honduras, Peru, Philippines Posted in Deals, Technology

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Transfers Management of French-language Training to Luxembourg-based ADA, Côte d’Ivoire-based Africa Microfinance Network (AFMIN)

CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the expansion of financial access, recently has granted a mandate to manage nine of its training modules in African countries in which French is a primary language to ADA, a Luxembourg-based NGO that promotes inclusive finance, and the African Microfinance Network (AFMIN), an Abidjan-based association of 24 networks of African microfinance institutions (MFIs). Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Transfers Management of French-language Training to Luxembourg-based ADA, Côte d’Ivoire-based Africa Microfinance Network (AFMIN) Posted in Africa

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Promoting External Advice for Small and Medium-Sized Enterprises (SMEs) in Kyrgyzstan

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, has launched an information campaign to increase awareness of “the value of external advice for small and medium-sized enterprises (SMEs)”[1] in Kyrgyzstan. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Promoting External Advice for Small and Medium-Sized Enterprises (SMEs) in Kyrgyzstan Posted in Eastern Europe and Central Asia

MICROCAPITAL BRIEF: European Investment Fund (EIF) to Guarantee Loans Disbursed by UniCredit Bulbank to Microenterprises in Bulgaria Under Progress Microfinance Facility

The European Investment Fund (EIF), a provider of finance to organizations that lend to micro-, small and medium-sized enterprises (MSMEs) in Europe, and UniCredit Bulbank, a Bulgarian banking unit of UniCredit Group of Italy, have announced a guarantee agreement that will enable UniCredit Bulbank to support increased financial inclusion of approximately 270 microenterprises in the country [1]. Continue reading

MICROCAPITAL BRIEF: Nigeria’s ActivEdge, SAP Africa to Launch Mobile Money Service

ActivEdge Technologies, a Nigeria-based company, and SAP Africa, the South Africa-based branch of German software provider Systemanalyse und Programmentwicklung (SAP), reportedly have partnered to offer a mobile money-transfer service to customers in Nigeria. Continue reading

MICROFINANCE EVENT: Alliance for Financial Inclusion (AFI), Central Bank of Trinidad and Tobago Present “2014 AFI Global Policy Forum,” September 9-11, 2014, Port of Spain, Trinidad and Tobago

Event Name: Alliance for Financial Inclusion Global Policy Forum “Global Partnerships, National Goals, Empowering People”

Event Date: September 9 – 11, 2014

Event Location: Port of Spain, Trinidad and Tobago Continue reading

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MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Rwanda, Kenya Commercial Bank Group (KCB), Kenya’s I&M Bank, Rwanda’s RSwitch to Offer Cardless ATM Banking Services in Rwanda

Mobile Telecommunications Network (MTN) Rwanda, the Rwandan branch of South Africa-based mobile telecommunications company MTN, reportedly has announced a partnership with Kenya Commercial Bank Group (KCB) and I&M Bank, which both offer corporate and retail banking services in Kenya, and RSwitch, an electronic payment service firm based in Rwanda, to offer cardless automated teller machine (ATM) services in Rwanda. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Rwanda, Kenya Commercial Bank Group (KCB), Kenya’s I&M Bank, Rwanda’s RSwitch to Offer Cardless ATM Banking Services in Rwanda Posted in Africa, Deals, Mobile Money, Technology

MICROCAPITAL BRIEF: Emerge Mobile of South Africa Announces “Edge” Cashless Payment Service

Emerge Mobile, a South African mobile service company, has announced the commercial launch of its “Edge” mobile point-of-sale (MPOS) device, which can be plugged into a mobile phone to allow a retailer to accept credit and debit card transactions [1]. Continue reading