The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently disbursed a local-currency loan approximately equivalent to USD 3.2 million to the microfinance institution (MFI) Palestine for Credit and Development, which is also known by its Arabic name Faten. Founded in 1999 and based in Palestine’s West Bank, Faten is an NGO that seeks to
Tag: investment
MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Microfinance Institution Baobab Senegal, Retains Holding in Parent Company
Abler Nordic, a partnership of public and private investors based in Denmark and Norway, recently sold its stake in Baobab Senegal for an undisclosed price to the latter’s parent company, Baobab Group, which operates microfinance institutions (MFIs) in Africa and China. Abler, known at the time as the Nordic Microfinance Initiative, bought the stake in 2012. Abler continues to hold a stake in Baobab Group.
“As we hand the baton on, we are very pleased with how the company has grown, the impressive social results they have achieved, and
MICROCAPITAL BRIEF: M-Kopa Raises $250m to Expand Financing of Mobile Phones, Solar Equipment in Africa
M-Kopa, a Kenya-based company serving 3 million customers in four African countries, recently announced that it has raised approximately USD 250 million in fresh funds to expand its facilitation of financial and digital inclusion. In particular, the firm finances devices that it sells, such as
MICROCAPITAL BRIEF: Network International Unveils “Networkpay” Tools for SMEs in Egypt to Accept Digital Payments
UAE-based Network International recently rolled out its “networkpay” brand to bring its “direct-to-merchant” payment systems to Egypt. The service menu includes tools allowing retailers to accept point-of-service and
MICROFINANCE EVENT: Unlocking Solar Capital (USC) Africa; May 31 – June 1, 2023; Kampala, Uganda
The fifth iteration of this event will promote partnerships between investors and project developers to work toward universal energy access. The event will include sessions such as: (1) Integrated Energy Planning & Smart Subsidies to Achieve
MICROFINANCE EVENT: Sankalp West Africa Summit; June 12-13, 2023; Accra, Ghana
This event will focus on mechanisms through which entrepreneurial partnerships in regions such as South Asia, Southeast Asia and Africa, can solve global issues. The organizers expect approximately 80 speakers and 300 delegates discussing topics such as: (1) Agriculture; (2) Climate Change and Clean Energy;
MICROCAPITAL BRIEF: AFI Invests $5m in Microfinance Institution AFK of Kosovo from Invest in Visions (IIV)
The Germany-based investing company Agents for Impact (AFI) recently informed MicroCapital that it has issued a loan of USD 5 million to
MICROCAPITAL BRIEF: Visa Everywhere Initiative 2023 Offering $500k for Fintech Innovation
US-based payment technology firm Visa and TechCrunch, a media company owned by US-based technology firm Yahoo, recently opened the Visa Everywhere Initiative 2023, a contest offering USD 500,000 in prizes to financial technology firms (fintechs) that “deliver innovative payment and commerce solutions.” Applicants apply based
MICROCAPITAL BRIEF: Luxembourg Invests $25m in First Close of Green Earth Impact Fund, Managed by BlueOrchard, Schroders
The Luxembourg Ministry of Finance, the UK-based Schroders Group and its Switzerland-based unit BlueOrchard Finance recently announced the first closing of the Green Impact Earth Fund (GEIF) with a USD 25 million commitment from the Ministry of Finance. The fund
MICROCAPITAL BRIEF: AMK of Cambodia Borrowing $7.5m for Green Microfinance via Bond Issue from BII, Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently disbursed USD 7.5 million to Cambodia’s AMK Microfinance Institution to fund its ongoing lending for electric two- and three-wheeled vehicles as well as new products, such as
MICROCAPITAL BRIEF: Annapurna of India Borrows $10m from MicroVest to Expand Microfinance for Rural Women
MicroVest, an asset management subsidiary of US-based DAI Global, recently lent USD 10 million to Annapurna Finance, an India-based microfinance institution (MFI) that lends to groups of women for purposes such as agriculture, crafts, solar lighting and housing improvements. The MFI also lends to
MICROCAPITAL BRIEF: EBRD Loaning $5m to ING Finansal Kiralama for Leasing for Energy Efficiency, Renewables in Turkiye
The multilateral European Bank for Reconstruction and Development (EBRD) recently agreed to provide an unsecured loan approximately equivalent to USD 5.5 million to the Türkiye-based Internationale Nederlanden Groep (ING) Finansal Kiralama, which is controlled by the Netherlands-based ING Group. Also known as ING Leasing, the company plans to use the proceeds to finance
MICROCAPITAL BRIEF: BIM Borrows $20m from IDB Invest for Locfund Next to Support Lenders to MSMEs in Latin America, Caribbean
Locfund Next, a debt fund managed by Bolivia-based BIM Asset Management, recently accepted a 6-year loan of USD 20 million from IDB Invest, a member of the Inter-American Development Bank (IDB) Group. The loan is intended to help funders of micro-, small and medium-sized enterprises (MSMEs) to expand their outreach to
MICROCAPITAL BRIEF: EBRD Purchases 5% Equity Stake in ProCredit from IFC, Increasing Exposure to SMEs in Europe, Ecuador
The multilateral European Bank for Reconstruction and Development (EBRD) recently purchased a 5-percent stake in Germany-based ProCredit Holding from the World Bank Group’s International Finance Corporation (IFC), along with a
MICROCAPITAL BRIEF: Svasti of India Raises $5m via Impact Investment Exchange (IIX) Women’s Livelihood Bond Issue
India’s Svasti Microfinance recently raised USD 5 million via a bond issue by the Impact Investment Exchange (IIX), a for-profit firm in Singapore, with the goal of catalyzing income generation for low-income women. The funding is provided
MICROCAPITAL BRIEF: Accion, Sturgeon Lead $6.4m Equity Round for Trukkr, Fintech Serving Trucking SMEs in Pakistan
Trukkr, a Pakistan-based financial technology (fintech) firm, recently obtained USD 6.4 million in a funding round led by two impact investors, US-based Accion Venture Lab and UK-based Sturgeon Capital, with placements also made by Al Zayani Venture Capital, Haitou Global and Peter Findley. The breakdown
MICROCAPITAL BRIEF: Arohan of India Raises $11m in Equity from FMO to Expand Microfinance, Including via Technology
Arohan Financial Services, an India-based microfinance institution (MFI) offering credit and insurance services to groups, individuals and other MFIs, recently accepted an equity investment in local-currency equivalent to USD 11 million from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). Arohan plans to use the fresh capital
MICROCAPITAL BRIEF: Incofin Launches Water Access Acceleration Fund (W2AF) with $39m to Invest in Africa, Asia
The Belgium-based investment firm Incofin recently launched the Water Access Acceleration Fund (W2AF), a private equity fund with the objective of reaching 30 million people with access to safe drinking water, primarily in Africa and Asia. In particular