Visa, a US-based payments company, and Oxfam America, an anti-poverty NGO, announced during the recent COP28 meetings in the UAE that they plan to scale Oxfam’s Building Resilient, Adaptive and Disaster-ready Communities (B-READY) project to deliver relief payments in advance of storms and flooding in Colombia, Kenya and the US territory of Puerto Rico. B-READY was launched in
Search Results for: kenya
MICROCAPITAL BRIEF: Lipa Later Acquires Fellow E-commerce, DFS, Merchant Services Platform Sky.Garden of Kenya for $1.6m
Lipa Later, a Kenyan financial technology (fintech) firm integrating e-commerce, digital financial services and merchant services in four African countries, recently paid KES 250 million (USD 1.6 million) to acquire Sky.Garden, a Kenyan service that was launched in 2017 but had announced it would close during 2023.
MICROFINANCE EVENT: Sankalp Africa Summit; February 28-29, 2024; Nairobi, Kenya
This annual gathering focuses on “sustainable” development in Africa, including as can be promoted via entrepreneurship and impact investing. Attendees will engage on themes such as renewable energy,
MICROFINANCE PAPER WRAP-UP: “Gendered Investment Differences Among Smallholder Farmers: Evidence from a Microcredit Programme in Western Kenya,” by Keiji Jindo et al
The authors of this study conducted a client-level analysis to examine differences in the investment behavior of female and male microcredit users in Kenya. The scope included
MICROFINANCE EVENT: Consumers International Global Congress; December 6-8, 2023; Nairobi, Kenya
Every four years, this event gathers stakeholders aiming to create a resilient future for the mass market. The agenda covers topics such as: (1) Transforming Consumer Journeys in Mobile Money; (2) The Influence of ChatGPT on Consumer Experiences; (3) Channels of
SPECIAL REPORT: Fortune Credit of Kenya, Fundación Génesis Empresarial of Guatemala, Yikri of Burkina Faso Are Finalists for European Microfinance Award 2023 on Inclusive Finance for Food Security & Nutrition
From the European Microfinance Platform (e-MFP): On September 19 and September 20, 2023, the Selection Committee for the European Microfinance Award (EMA) 2023 on “Inclusive Finance for Food Security & Nutrition” selected the three finalists that will go on to compete for the prize of EUR 100,000 (USD 105,000): Fortune Credit Limited from Kenya, Fundación Génesis Empresarial from Guatemala and Yikri from Burkina Faso.
The choice of topic for the EMA2023 comes at a
MICROCAPITAL BRIEF: 24 Education Technology Startups in Kenya, Nigeria Joining Mastercard Foundation EdTech Fellowship
The Canada-based Mastercard Foundation recently announced that 24 educational technology (edtech) startups in Kenya and Nigeria have joined the Mastercard Foundation EdTech Fellowship program, which promotes “technology in learning and teaching to benefit learners, education and edtech innovators across the continent” of Africa. The Kenyan inductees are listed at:
MICROCAPITAL BRIEF: Mogo Kenya Borrowing $7m from Verdant Capital Hybrid Fund to Boost Vehicle Ownership
Mauritius-based Verdant Capital recently announced that it will lend USD 7 million from its Verdant Capital Hybrid Fund to Mogo Kenya, a subsidiary of Latvia-based Eleving Group, to fund two-, three- and four-wheeled vehicles – some powered by electricity – for self-employed taxi and delivery drivers. The loan is structured in two tranches,
MICROCAPITAL BRIEF: Sun King Raises $130m for Pay-as-you-go Solar in Kenya, Citi is Sole Arranger
With the goal of expanding access to off-grid solar energy in Kenya, the US-based solar products firm Sun King recently won a loan securitization denominated in Kenyan shillings equivalent to USD 130 million. Among the private participants are
MICROCAPITAL BRIEF: Credit Bank, FSD Kenya Engaging SACCOs in Effort to Reduce Remittance Costs for Rural Kenyans
The UN’s International Fund for Agricultural Development (IFAD) recently announced a pair of programs that will operate in Kenya under the EU’s Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa). In particular, IFAD will fund
MICROCAPITAL BRIEF: KEPFIC Member Pension Funds Invest $61m in Acorn Holdings, Kenya Mortgage Refinance Company (KMRC) to Boost Affordable Housing
Kenya’s Acorn Holdings Africa and the Kenya Mortgage Refinance Company (KMRC) recently won investments from members of the Kenya Pension Funds Investment Consortium (KEPFIC), a group of funds that collaborate to invest in alternative assets. In particular, KEPFIC pension funds placed
MICROFINANCE EVENT: Global Forum on Remittances, Investment and Development (GFRID); June 14-16, 2023; Nairobi, Kenya
The eighth edition of this biennial event will begin with two days of sessions with titles such as: (1) Remittances and Diaspora Investment as Tools for
MICROCAPITAL BRIEF: Diamond Trust Bank (DTB) to Offer Fintechs in Kenya Access to Mastercard Payment Cards
Diamond Trust Bank (DTB), a Kenya-based institution serving four countries in Africa, recently expanded its partnership with US-based payment processing corporation Mastercard, which will enable
MICROCAPITAL BRIEF: Bidhaa Sasa Borrows $500k from Spark+ Africa Fund for Distribution of Efficient Cookstoves in Kenya, Uganda
Bidhaa Sasa, a Kenya-based last-mile distributor of lower-emission cooking and lighting products, recently borrowed USD 500,000 from Spark+ Africa Fund, an investor in “modern energy solutions.” Bidhaa Sasa plans to use the proceeds to
MICROCAPITAL BRIEF: Kwara of Kenya Raises $3m in Equity to Boost Technology for SACCOs, Acquires KUSCCO Software Subsidiary
Kwara, a woman-led financial technology (fintech) company serving credit unions in Kenya, the Philippines and South Africa, recently raised USD 3 million from its previous investors DOB Equity, Globivest and Willard Ahdritz plus a group of
MICROCAPITAL BRIEF: Oikocredit Loans MyCredit $2.6m for SME Financing in Kenya
Oikocredit, a Netherlands-based cooperative, recently lent MyCredit, a Kenya-based non-bank financial services company, USD 2.6 million for lending to small and medium-sized enterprises (SMEs). MyCredit CEO George Mbira commented, “The secured funding will support MyCredit’s strategic
MICROFINANCE EVENT: 10th Sankalp Africa Summit; March 1-2, 2023; Nairobi, Kenya
This event will focus on mechanisms through which entrepreneurial partnerships can solve global issues. The agenda offers time for one-on-one meetings plus 40 group sessions covering topics such as
MICROCAPITAL BRIEF: Nala Expands to Kenya, Offers Direct Bill Payment from UK, US
Nala, a financial technology firm launched in Tanzania in 2018, expanded into Kenya earlier in 2022, allowing money transfers from the US and UK in partnership with