This annual gathering is intended to promote data innovations that “are making a measurable difference millions of lives” through humanitarian relief, development projects and conservation efforts. The event’s themes include
Search Results for: Ghana
MICROFINANCE EVENT: International Conference on Inclusive Insurance (ICII); October 23-27, 2023; Accra, Ghana
The International Conference on Inclusive Insurance 2023 will gather delegates from 50 countries to debate methods for boosting access to insurance for mass markets to support emerging economies’ growth and economic
MICROFINANCE PAPER WRAP-UP: “Determinants of Choice of Credit Source Among Clients of Microfinance Systems in the Upper West Region of Ghana,” by Paul Bata Domanban et al
The authors of this article examined which groups of people in northwestern Ghana were more and less likely to borrow money from microfinance institutions (MFIs). The authors conducted
MICROFINANCE EVENT: ANDE Annual Conference; September 12-14, 2023; Accra, Ghana
This event will observe the “half-way point” towards the 2030 target of achieving the 17 Sustainable Development Goals (SDGs) of the United Nations. It is themed “Accelerating Action: Small Business Solutions and the SDGs,” and is to focus on cataloging the progress and ongoing needs of small and
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: MICT Buys Tingo, Expands Agritech to Ghana & Malawi, Connecting More Farmers with International Markets
MICT, a US-based, publicly traded provider of financial and technology services in Eurasia and the US, recently closed its purchase of Tingo, a US-based provider of technology services to farmers in Africa. Meanwhile, Tingo has expanded its operations into Ghana and Malawi. The firm’s services include access to pricing and markets – domestic and international – as well as an escrow
MICROCAPITAL BRIEF: Bank of Ghana, Emtech Solutions Launch Regulatory Sandbox to Encourage Innovation in Finance, Financial Inclusion
The Bank of Ghana (BoG), the country’s central bank, recently launched a regulatory sandbox – a mechanism for testing business models not covered by existing regulations, in partnership with the US-based financial technology (fintech) firm Emtech Solutions. Following a successful pilot phase, BoG adopted Emtech’s digital regulatory review and reporting platform, through which financial service providers can
MICROFINANCE PAPER WRAP-UP: “Strategies to Optimise MSME-centred Supply Chain Finance Solutions: A Study of Ghana, Ethiopia and Nigeria;” by Adebiyi Fajemisin, Anifat Ibrahim and Raliat Sunmonu; Published by Accion
This report describes how several supply chain finance (SCF) solutions were deployed with the intent of benefiting micro-, small and medium-sized enterprises (MSMEs) in Ethiopia, Ghana and Nigeria. The authors deem these countries particularly “promising markets for MSME-led digital financial inclusion,” and they argue that SCF can provide
MICROCAPITAL BRIEF: Fido of Ghana Attracts $30m Equity Package Led by Fortissimo to Expand Fintech in Africa
Ghana’s Fido Micro Credit, with the aim of expanding across Africa, recently obtained USD 30 million in Series A funding. Israel’s Fortissimo Capital led the funding round, while US-based Yard Ventures also participated, along with other unspecified private investors. Fido previously had raised
MICROCAPITAL BRIEF: InsuResilience Investment Fund Acquires 40% Equity Stake in Ghana-based Insurance Company Vanguard
Switzerland’s BlueOrchard Impact Investment Advisors recently disbursed an undisclosed sum from the InsuResilience Invest Fund (IIF), a Luxembourg-domiciled public-private partnership, for IIF to buy 40 percent of the shares of Vanguard Assurance, an insurer in Ghana that provides microinsurance as well as traditional coverage. The deal, under which IIF controls multiple seats on Vanguard’s Board of Directors, is intended to grow
MICROCAPITAL BRIEF: Oikocredit Loans Ecoligo $5.7m to Fund Solar Energy for 15 SMEs, NGOs in Ghana, Kenya
Oikocredit, a Dutch cooperative investor, recently loaned EUR 5 million (USD 5.68 million) to Ecoligo, a German firm that provides solar-as-a-service solutions, to expand its operations in Ghana and Kenya. The loan is to finance solar energy equipment that will provide power to 15 clients, which will pay Ecoligo for the power on a monthly basis. Siebren Wilschut, an investment officer at Oikocredit, said,
MICROCAPITAL BRIEF: Fintech Zeepay of Ghana, Dutch Government, SNV, UNCDF Partner on Financial Education, Remittances via EU-funded GrEEn Program
Zeepay, a financial technology (fintech) company with offices in Ghana and the UK, recently partnered with the embassy of the Netherlands in Ghana, the Dutch NGO Stichting Nederlandse Vrijwilligers (SNV) and the UN Capital Development Fund (UNCDF) as part of the EU-funded Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) program. The goal is to serve “youth, women and
MICROCAPITAL BRIEF: Fintech Zeepay of Ghana Buys Controlling Stake in Mangwee Mobile Money of Zambia
The Ghana-based financial technology (fintech) company Zeepay recently bought a 51-percent stake in Zambia-based digital wallet and remittance platform Mangwee Mobile Money for an undisclosed price. Zeepay Managing Director Andrew Takyi-Appiah noted, “The acquisition… will give Zeepay access to Mozambique, Malawi, Angola and Namibia among others in our effort to
MICROFINANCE PAPER WRAP-UP: “Financial Literacy Education: Implication on the Economic and Social Life of the Teacher in Ghana,” by Juabin Matey et al, Published by International Research Journal of Multidisciplinary Scope
The authors of this paper investigated “how consumers acquire knowledge of financial numeracy and how it’s applied, especially to their economic and social lives.” Past research has shown both higher borrowing costs and over-spending to be correlated with
MICROCAPITAL BRIEF: Bank of Ghana Issues Crowdfunding Policy
Bank of Ghana (BOG), the central bank of the country, recently launched a policy aiming to promote and guide the use of crowdfunding, whereby people fundraise in small amounts from many individuals. Since long before it could be performed electronically, people have used the concept to raise funds from friends and family for purposes such as business, medical, education and funeral expenses. The new policy encourages users to crowdfund via financial institutions, with the goal of
MICROCAPITAL BRIEF: Ghana’s Ministry of Finance to Launch Development Bank of Ghana with $250m from World Bank’s IDA to Promote MSME Lending, Including to 2k Enterprises Led by Women
The International Development Association (IDA), a unit of the World Bank, recently agreed to provide USD 250 million for Ghana’s Ministry of Finance to create the Development Bank of Ghana (DBG). DBG is slated to provide “long-term wholesale financing, credit guarantees, and other services” benefitting 10,000 micro-, small and medium-sized enterprises (MSMEs) – including 2,000 that are led by women – that are active in agribusiness, manufacturing and unspecified “high-value services.” DBG also is to create
MICROCAPITAL BRIEF: As Bank of Ghana Intervenes Due to COVID-19 Pandemic, Concerns of Failure, Profiteering Among Microfinance Institutions
The Bank of Ghana, the central bank of the country, recently introduced a series of measures to cushion the effects of the COVID-19 pandemic on microfinance institutions (MFIs). Many MFIs are struggling with liquidity for various reasons including that many have granted their borrowers repayment moratoria of up to 6 months. Citing a recent report from the Bank of Ghana, Samuel Darko, a local researcher, warns that a “liquidity stress-test conducted for the sub-sector shows minimal survival rate for
MICROCAPITAL BRIEF: Vancity Loans $740k to Brighter Investment for Education Microfinance in Ghana
Vancouver City Savings Credit Union (Vancity) of Canada is lending CAD 1 million (USD 740,000) to Brighter Investment, a Canadian lender to university students in Ghana. Of the total, half of the funds were disbursed to Brighter Investment in April, and the remainder is scheduled to be distributed in September. Brighter Investment is using the cash to expand its funding of students,