Moniepoint Microfinance Bank, a Nigerian subsidiary of UK-based Moniepoint, recently launched a debit card and a mobile app called Moniepoint Personal Banking. The app allows users to: (1) make bill payments, send money to friends and family, and purchase credit for mobile devices; (2) play games that offer
MICROCAPITAL BRIEF: ResponsAbility Invests $40m in Equity in eFishery of Indonesia for Technology Helping Fish, Shrimp Farmers with Feeding, Water Quality, Documenting Sustainable Practices, Market Linkages
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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
MICROCAPITAL BRIEF: Non-performing Loan (NPL) Ratios Up Among Microfinance Providers in Bangladesh
Bangladesh Bank, the country’s central bank, recently reported that the volume of non-performing loans (NPLs) in the domestic microcredit industry rose from BDT 45 billion (USD 412 million) in the fiscal year ending March 2021 (FY21) to
MICROCAPITAL BRIEF: Money Fellows of Egypt Borrowing $2.2m from Symbiotics to Support Digital ROSCAs
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle-income countries, recently issued a loan of USD 2.25 million to Egypt-based Money Fellows. Money Fellows plans to use the fresh capital to expand its digitization of rotating savings and credit associations (ROSCAs), also known as money circles, as well as to broaden
MICROCAPITAL BRIEF: Fintech Kacha Gets Regulator Approval to Roll Out Mobile Money App in Ethiopia
Kacha Digital Finance Services, an Ethiopian financial technology (fintech) company, recently received approval from the National Bank of Ethiopia (NBE) to offer services such as remittances, bill payments, airtime purchases and accepting merchant payments through its eponymous mobile app. The firm, which
MICROFINANCE PAPER WRAP-UP: “Climate Risk and Financial Inclusion: A Regulatory Perspective on Risks and Opportunities;” by Peter Knaack, Peter Zetterli
This paper analyzes how climate change may impact the stability of financial systems and – particularly – access to financial services for groups that often have difficulty with such access, including micro- and small enterprises (MSEs) as well as low-income households and those in rural areas. The authors emphasize three challenges:
SPECIAL REPORT: An Interview with Christoph Pausch of e-MFP on European Microfinance Week, Luxembourg & Online, November 2023
MicroCapital: What can we expect from EMW2023, happening in-person November 15-17 in Luxembourg and online?
Christoph Pausch: EMW2022, back in-person after two years, showed us that there is no substitute for getting the opinion leaders and decision-makers in the inclusive finance sector together in-person, ensuring they have the time and space to debate, make new connections, and of course give presentations and discuss the various challenges and innovations underway around the world.
After the success of the hybrid EMW2022, which gathered 570 attendees (including over 200 who joined us online) from 48 countries, we are delighted to return to the beautiful Abbaye de Neumunster in Luxembourg for another hybrid event, which will once again offer an exceptional networking and knowledge-sharing experience with the top experts in the financial inclusion sector. And the programme is designed to be as conducive as possible to those joining us online from different time zones. Plus, sessions will be recorded for “catch-up” after.
MC: What choices of sessions can attendees expect?
CP: As always, EMW sessions have been put forward largely by our members – so they address the sector’s current “hot topics” – and we organise them across several thematic streams. We received an enormous response to our call for proposals that went out early in the summer, giving us great scope for a fascinating, diverse program across different streams. In addition to our usual annual topic areas – digitisation, social performance, funding/investment – this year there also will be streams on refugee finance, agri-finance, a particular emphasis on
MICROCAPITAL BRIEF: Light Microfinance, IppoPay Partner to Offer Digital Lending to MSMEs in Rural India
Two Indian firms, Light Microfinance and IppoPay, have announced they will work together to offer digital lending services to micro-, small and medium-sized enterprises (MSMEs) in “rural and semi-urban micro-markets” in four states:
MICROCAPITAL BRIEF: Universal Insurance Launches Mobile App, Referral Platform in Nigeria
Nigeria’s Universal Insurance recently launched a mobile app to facilitate its customer service interactions. The app allows users to buy and manage policies as well as to file and receive support on claims. The firm also debuted the Universal Insurance Network, through which customers can
MICROCAPITAL BRIEF: Peruvian Fintech Lender Prestamype Concludes $5m Equity Funding Round Led by Acumen Subsidiary ALIVE Ventures, Oikocredit
The Peruvian lender Prestamype recently raised USD 5 million in equity in a pre-Series A funding round. The investment package was led by
MICROCAPITAL BRIEF: Svatantra of India Paying Navi Group $179m for Microfinance Subsidiary Chaitanya
Svatantra Microfin Private Limited, an Indian non-banking financial company-microfinance institution (NBFC-MFI) recently agreed to pay INR 15 billion (USD 179 million) to India-based Navi Group in exchange for its fully-owned subsidiary Chaitanya. Navi was advised on the deal by
MICROFINANCE PAPER WRAP-UP: “Land Titling and Microcredit in Cambodia: Examining the Reality of Hernando de Soto’s ‘Three Steps to Heaven,’” by Milford Bateman
In this paper, Dr Bateman examines the Cambodian microcredit industry and argues against prior claims that increases in land titling lead to access to credit that enables poor landowners to increase their incomes. The results are based on
MICROFINANCE PAPER WRAP-UP: “Agritech and Fintech Providers in East and Southern Africa: A Landscape Assessment;” published by IFAD, SAFIN
The authors of this paper address: (1) the environment that financial institutions in East and Southern Africa (ESA) face when lending to agricultural micro-, small and medium-sized enterprises (MSMEs); and (2) how this lending can be increased via agricultural technology (agritech) and financial technology (fintech) firms. The challenges include
MICROCAPITAL BRIEF: Annapurna Finance Borrowing $25m from responsAbility to Boost Renewable Energy, Energy-efficiency in India
The Switzerland-based firm responsAbility Investments recently loaned USD 25 million to Annapurna Finance, a microfinance institution (MFI) seeking to reduce poverty and spread economic opportunity in India. The MFI plans to on-lend the funds to families as well as smaller businesses looking to acquire solar panels and other equipment that reduces the need for fossil fuels. As Annapurna has
MICROCAPITAL BRIEF: DreamStart Labs Adding VisionFund as Preferred Financial Service Provider in Savings Groups App DreamSave
The US-based nonprofit World Vision International and its microfinance subsidiary VisionFund recently entered an agreement with the US-based financial software development company DreamStart Labs with the goal of enrolling 3 million people in 130,000 new savings groups over six years using DreamStart’s mobile app DreamSave. The organizations will focus on
MICROCAPITAL BRIEF: Maquita Cushunchic Borrowing $2m from DID Aequitas Fund for Microfinance, Small-enterprise Lending in Ecuador
Cooperativa de Ahorro y Crédito Maquita Cushunchic, a financial institution founded by women in Ecuador, recently accepted a loan of USD 2 million from Aequitas, a fund managed by a holding of Desjardins International Development (DID), which in turn is a member of the Canada-based cooperative Desjardins Group. Maquita Cushunchic, which mainly serves micro- and small enterprises, was founded in 1997 and since has grown to serve
MICROCAPITAL BRIEF: FINCA Ventures Places Equity in Agtech CassVita, Seeking to Boost Incomes from Farming Cassava in Cameroon
FINCA Ventures, an affiliate of the US-based NGO FINCA International, recently invested an undisclosed sum to take a minority stake in CassVita, an agricultural technology (agtech) firm aiding Cameroonian farmers in cultivating cassava as a climate-resilient alternative to other crops. CassVita finances farmers’ inputs, purchases their crops and processes the cassava into flour. This approach curbs spoilage,
MICROCAPITAL BRIEF: Baobab+ Borrows $1.3m from Oikocredit to Boost Household Access to Technology, Solar Energy in Rural Côte d’Ivoire
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