Spark+ Africa Fund, a partnership of Switzerland-based Enabling Qapital and the Dutch NGO Stichting Modern Cooking (SMC), recently lent USD 3.5 million to The African Stove Company (TASC), which is based in Jersey, to sell 90,000 cookstoves in rural Zambia. Spark+ Africa raised the funds from the sale of “several million tons
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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: To Fund Biogas Digesters, Cookstoves in Kenya, Sumac Microfinance Bank Borrows $2m from Spark+ Africa
Kenya’s Sumac Microfinance Bank recently secured a three-year loan of USD 2 million from Spark+ Africa Fund, an investor in “modern energy solutions.” Sumac is to use the funds to expand its Kawi product, which funds solar panels, fuel-efficient stoves and biogas digesters. Sumac’s partners include Kenya’s Burn Manufacturing and Mexico-based
MICROCAPITAL BRIEF: Spark+Africa Fund Raises $40m in Equity from Public, Private Investors for Clean Cookstove Industry in Sub-Saharan Africa
The Spark+Africa Fund, an investor in cookstoves that create less pollution and use less fuel, recently launched with a total of USD 40 million invested by 12 organizations. Spark+ invests across the value chain for
MICROCAPITAL BRIEF: EBRD Lends $1.2m to Erste Group’s Sparkasse Leasing Doo Skopje to Support Small, Medium-sized Enterprises (SMEs) in North Macedonia
The UK-based European Bank for Reconstruction and Development (EBRD) recently lent Sparkasse Leasing Doo Skopje, a unit of Sparkasse Bank of Macedonia, EUR 1 million (USD 1.2 million) to fund equipment to be leased by small and medium-sized enterprises (SMEs) in North Macedonia. The leased equipment is meant to boost the SMEs’ usage of renewable energy and
MICROCAPITAL BRIEF: EBRD Loans $5.6m to Sparkasse Bank Makedonija for Housing, Energy-efficiency in North Macedonia
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently issued two loans to Sparkasse Bank Makedonija, a unit of Austrian savings bank Steiermärkische Sparkasse, to promote investment in privately owned buildings in North Macedonia. The larger loan is in the amount of EUR 3 million (USD 3.4 million) and is to be used for
MICROCAPITAL BRIEF: Microcredit Foundation Prizma of Bosnia and Herzegovina to Borrow $2.7m from Sparkasse Bank
Microcredit Foundation Prizma, a microfinance institution (MFI) in Bosnia and Herzegovina, has received a loan of BAM 4 million (USD 2.7 million) from Sparkasse Bank, an Austrian-owned financial institution in Bosnia and Herzegovina, for the expansion of Prizma’s microfinance operations within the country.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Lends $6.7m to Sparkasse Bank BiH of Bosnia and Herzegovina to Support Small and Medium-Sized Enterprises
The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, will be lending EUR 5 million (approximately USD 6.7 million) to Sparkasse Bank BiH to support Bosnia and Herzegovina’s preparation for possible membership in the European Union (EU).
KNOW A MICROFINANCE ORGANIZATION: Sparkassenstiftung fuer internationale Kooperation (Savings Bank Foundation for International Corporation, SBFIC)
Overview:
Sparkassenstiftung fuer internationale Kooperation (Savings Bank Foundation for International Corporation, SBFIC) provides financing and assistance to microfinance institutions (MFIs).
NEWS WIRE: China: Global Economic Crisis Sparks Interest in Microloans
Source: Bloomberg
NEWS WIRE: Haiti: Diaspora in Haiti Sparks Unity in the U.S.
Source: Huffington Post
MICROCAPITAL BRIEF: Enabling Qapital Loans $10m to AccessBank for Microfinance, SME Lending in Azerbaijan
Enabling Qapital Limited, a Switzerland-based investment advisory company, recently issued a loan of AZN 17 million (USD 10 million) to AccessBank, which was founded in 2002 to provide credit and other financial services to smaller businesses and low-income families in Azerbaijan. The three-year loan is to be used
MICROCAPITAL BRIEF: Bank Respublika of Azerbaijan Borrows $8m from EMF Microfinance Fund for On-lending to SMEs
Switzerland-based investing firm Enabling Qapital recently disbursed a subordinated loan of USD 8 million from its Enabling Microfinance Fund (EMF) to Bank Respublika, which focuses on
MICROCAPITAL BRIEF: EBRD Boosts Loan Ceiling of Quds Bank to Support Cross-border Trade, MSMEs in West Bank, Gaza
Recently, the UK-based European Bank for Reconstruction and Development (EBRD) agreed to increase the credit line it has open for Quds Bank, a commercial bank operating in the West Bank and Gaza, by USD 10 million. Half of the new increment is for Quds Bank to use for
MICROCAPITAL BRIEF: EBRD Commits Up to $45m to Uzpromstroybank of Uzbekistan for Expansion, Including Green Financing for SMEs
Via its Green Economy Financing Facility (GEFF), the UK-based European Bank for Reconstruction and Development (EBRD) recently committed up to USD 25 million to Uzbekistan-based Uzpromstroybank. Founded in 2019, GEFF delivers
MICROFINANCE PAPER WRAP-UP: “Financial Literacy for Migrants: Mapping and Needs Assessment,” by Heghine Manasayan et al, from CRRC-Armenia
The authors of this paper seek to understand the needs for financial education among three groups of migrants in Armenia: (1) people who moved to Armenia or within the country for work, including workers’ family members; (2) official refugees to Armenia and those moving to the country for similar reasons; and (3) Armenian citizens who migrated to another country but then voluntarily returned or were deported back to Armenia. The methodologies were group discussion with migrants and the review of government data, such as
MICROCAPITAL BRIEF: GSG Studying Feasibility of $1b Latin America Impact Fund of Funds (LIFF)
The UK-based Global Steering Group for Impact Investment (GSG) recently announced the launch of the Latin America Impact Fund of Funds (LIFF) Task Force, a group of Latin American impact investors that will estimate the potential of LIFF, a fund of funds that would supply debt and equity capital to social impact funds in 20 Latin American countries.
MICROCAPITAL BRIEF: Social Finance Global Network, Global Steering Group for Impact Investment (GSG) Launching Social Finance India; Seeking to Raise $2b for Education, Other Double Bottom Line Investing
The UK-based Social Finance Global Network (SFGN), an group of nonprofits supporting impact investing, and the UK-based Global Steering Group for Impact Investment (GSG), which has 19 country members plus the EU, recently announced the debut of Social Finance India. This new NGO is seeking to raise USD 1 billion each for the India Impact Fund of Funds (IIFF) and