![](https://microcapital.org/wp-content/uploads/MicroCapitalLogoThumb.jpg")
Switzerland-based responsAbility Investments recently paid USD 40 million for an equity stake of undisclosed size in eFishery, a company assisting Indonesian fish and shrimp farmers with automatic feeders and mobile apps. The money is sourced from the responsAbility fund Sustainable Food Asia II, which has raised USD 173 million as of 2023.
Founded in 2013, eFishery reports having partnered with 70,000 cultivators, including separate apps for
The Ivorian unit of the France-based renewable energy company Baobab+ recently borrowed EUR 1.2 million (USD 1.3 million) from Dutch cooperative investor Oikocredit. Baobab+ is active in six African countries, primarily selling
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:
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
Semaai, an Indonesia-based agricultural technology firm, recently obtained bridge funding in an equity raise led by Accion Venture Lab, a unit of US-based nonprofit Accion, and XA Network, a Singapore-based venture capital firm, with ongoing investors Beenext and Surge increasing their exposure to Semaai. Although the amount invested by each party has not been released, the goal
The third iteration of this annual event will focus on how technology “can be applied to long-standing social challenges to connect with the consumer.” The event offers virtual sessions on March 20 and in-person sessions on March 21 on topics including: (1) Unlocking the Power of
Low-income Financial Transformation (L-IFT), a Netherlands-based firm, recently entered into an agreement with South Africa’s Imbe Enterprise Incubator whereby Imbe will provide L-IFT’s Finbit financial tracking software to its clients. The goal is to reach all of Imbe’s clients, who are primarily Black women who operate creches – child care facilities – in low-income neighborhoods. Finbit helps its users
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
This event will promote networking among representatives of microfinance institutions (MFIs) and technology firms to leverage innovations that improve
At a well-attended workshop today at European Microfinance Week, Ovia Tuhairwe, the CEO of Radiant Yacu Microinsurance, described her firm’s journey to develop a viable product to insure livestock in Rwanda. On its own, a subsidy of 40 percent from the Rwandan government did not make it easy to insure cattle, pigs and chickens in the country. Before Radiant Yacu moved to its current model in 2019, fraud was rampant, and costs were high at 10 percent of
Opportunity International, a US-based NGO, recently moved to strengthen the technology it uses to provide microfinance and other services in 30 countries. The goal is to help people with low incomes “make their businesses more scalable and efficient” through better access to market information, financial education, business training and financial services. These services can take the form of smartphone apps, cloud services, digital forms of identification and others. An element of achieving these goals is to boost users’ – and potential users’ – confidence in
The Luxembourg House of Financial Technology Foundation (LHoFT), a public-private partnership, is hosting the fifth iteration of its Catapult: Inclusion Africa event. The aim is to support financial inclusion in Africa through financial technology (fintech) by connecting 10 winning companies to “microfinance institutions, investors and industry experts….” To be eligible,
The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution, recently committed loans to two members of Georgia’s Tbilisi Business Centre (TBC) Bank Group: one in local currency up to the equivalent of USD 20 million to TBC Bank and another of up to EUR 3 million (USD 3.1 million) to TBC Leasing. The purpose of the “medium- to long-term” loans is to enable micro-, small and medium-sized enterprises (MSMEs) in Georgia to acquire technology that helps them meet EU standards of
Symbiotics, a Switzerland-based investor focused on small businesses in low- and middle- income countries, recently listed bonds on the Luxembourg Green Exchange to raise USD 17 million for Sun King, a Kenya-based firm selling solar technology in 62 countries. Sun King plans to use the proceeds to
Catapult: Kickstarter, a two-week programme organized by the Luxembourg House of Financial Technology (LHoFT) Foundation, aims to aid financial technology (fintech) startups with tutorials, networking and mentorship on issues such as creating a business plan, managing risk and growing the business. The organizers will select 10 fintechs to participate in the program, which will run from June 20 to July 1, 2022. On the closing day, the participants will
Foodics, a technology firm serving restaurants in the Middle East and North Africa, recently bought an equity stake of unspecified size in POSRocket, a point-of-sale (POS) platform supporting businesses in the food, beverage and other industries. Foodics purchased the holding from the Sanad Fund for MSME, a Luxembourg-domiciled investor in micro-, small and medium-sized enterprises (MSMEs), which Sanad had held it through its second equity sub-fund (ESF II). Subsequent to the deal, POSRocket’s customers
Sponsored by Gojo & Company: Gojo is hosting this webinar to share how Microfinance Deposit Organization Humo, its newest partner company, has established Humo Lab to spearhead digitalization and innovation. At Humo Lab, several products have been developed and launched, including mobile banking apps, payment apps, kiosks and more. The webinar will focus
Incofin Investment Management, a Belgium-based investor in financial inclusion and agriculture in developing countries, recently agreed to invest USD 4 million from its India Progress Fund (IPF) in SuperZop, whose app helps “small retailers and restaurants buy staples directly from farmers and food processors.” Among the app’s functions is to use artificial intelligence to analyze the quality of grains