The Canadian cooperative Desjardins Group recently invested CAD 50 million (USD 37.9 million) to create the Aequitas fund, a private investment fund aimed at achieving gender equality, advancing climate change solutions and meeting other UN Sustainable Development Goals (SDGs). The fund will promote financial inclusion through provision of
Category: Africa
MICROCAPITAL BRIEF: Edgar Martinez Named CEO of VisionFund International, Provider of Microfinance in 28 Countries
In January 2021, Edgar Martinez will take the positions of President and CEO at VisionFund International (VFI). The organization, which is owned by US-based NGO World Vision, provides microfinance services
MICROCAPITAL BRIEF: 10 Fintech Startups in Zambia Join FinTech4U Accelerator from BongoHive, UNCDF
The UN Capital Development Fund (UNCDF) and BongoHive, a Zambia-based provider of technology consulting, co-working space and other support to entrepreneurs, recently selected 10 financial technology (fintech) startups for the second iteration of the FinTech4U Accelerator Programme. “For the Fintechs, joining the programme is an opportunity that
MICROCAPITAL BRIEF: ADA Microfinance Launching 10-year “Smallholder Safety Net” Program Targeting Agricultural Value Chains, 3m Households; Partnering with 5 Impact Investors
ADA Microfinance, a Luxembourg-based NGO, recently announced a new program called the Smallholder Safety Net Upscaling Programme (SSNUP) to assist: (1) smallholder farmers in accessing insurance and implementing agricultural practices that increase productivity in a “climate-smart” manner; (2) actors in agricultural value chains in adopting “more sustainable environmental and social business practices;” and (3) boosting investment in agricultural value chains. The investors Grameen Credit Agricole Foundation, Incofin, Oikocredit, responsAbility and Symbiotics have agreed to participate by
MICROCAPITAL BRIEF: Britam Expanding Portfolio to Offer Property Insurance for Microenterprises in Africa with Support from Habitat for Humanity, ILO
Britam, a Kenya-based investment firm active in seven African countries, is working on “developing new property insurance solutions” to provide security to microentrepreneurs who use their homes for business operations and storage. The project is supported by the
MICROCAPITAL EVENT: AFSIC Investing in Africa; October 11-12, 2021; London, UK – NEW DATES
Originally scheduled to take place in May 2021, AFSIC (Africa Financial Services Investment Conference) Investing in Africa will focus on “strengthening trade and investment in Africa” with sessions on “sustainable” finance, financial technology (fintech) innovation, banking in Africa and “informed” investing. Attendees may also access investor-project matchmaking sessions,
MICROCAPITAL BRIEF: MFI Juhudi Kilimo of Kenya Upgrades Digital Infrastructure with Technical Assistance from Nordic Microfinance Initiative
The Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently worked with Juhudi Kilimo, a for-profit microfinance institution in Kenya, to help it develop a mobile app that gives
MICROCAPITAL BRIEF: Al Hussein Fund, Sanad Fund for MSME Offer Online Curriculum for Young Owners of Small Businesses in MENA
The Jordan-based, nonprofit Al Hussein Fund for Excellence and the Sanad Fund for MSME, a Luxembourg-domiciled investor in micro-, small and medium-sized enterprises (MSMEs), recently partnered to give young business owners in the Middle East and North Africa no-cost access to a course called “How to Start and Manage a Successful Business.” The course, which was delivered in Arabic on the Edraak online education platform, “comprises
MICROCAPITAL BRIEF: Ethiopia, IFAD Focus 3rd Phase of Rural Financial Intermediation Programme (RUFIP) on Supporting Farmers Through Climate Change, COVID-19 Pandemic
The government of Ethiopia and the UN’s International Fund for Agricultural Development (IFAD) recently launched a program with a budget of USD 306 million to support farmers that have been negatively impacted by recurrent droughts and the COVID-19 pandemic. This third phase of the Rural Financial Intermediation Programme (RUFIP 3),
MICROCAPITAL BRIEF: FMO Loans $5m to Husk Power Systems for Renewable Energy Generated from Biofuels, Distributed via Minigrids in Rural India, Tanzania
The Netherlands Development Finance Company, a public-private partnership also known by its Dutch acronym FMO, recently disbursed a loan of USD 5 million to Husk Power Systems, an India-based startup that builds small-scale electricity generation and distribution networks in rural areas of India and Tanzania. These minigrids use biofuels
MICROCAPITAL BRIEF: Motorcycle Leasing Company Tugende Raises $10m in Debt, Equity for Growth in Uganda, Kenya
Tugende, a company specializing in leases for motorcycle taxis known as boda-bodas, recently raised USD 10 million in debt and equity capital from a group of investors, bringing the size of the firm’s balance sheet to USD 30 million. The one investor that has been identified is Mobility 54,
MICROCAPITAL BRIEF: UNCDF, Women’s World Banking Partner on Digital Financial Inclusion for Women
The UN Capital Development Fund (UNCDF) and the US-based nonprofit Women’s World Banking (WWB) recently launched a strategic partnership to increase “access to digital financial services for women and girls, specifically in emerging markets and least developed countries.” The goals include to boost
MICROCAPITAL BRIEF: Pan-Atlantic University’s EDC, Mastercard Foundation Launch “Transforming Nigeria Youths Program” to Create 40k Jobs for Young People, Women
The Enterprise Development Centre (EDC) of Nigeria’s Pan-Atlantic University along with the Canada-based Mastercard Foundation recently launched the Transforming Nigerian Youths Program to “create a network of entrepreneurial and managerial changemakers particularly…across the micro-, small and medium-sized enterprises sector in Nigeria.” The goal is to provide 40,000 youth and women with
SPECIAL REPORT: Buusaa Gonofaa of Ethiopia, Muktinath Bikas Bank of Nepal, RENACA-Bénin Named Finalists for $118k European Microfinance Award on Savings
From 
the European Microfinance Platform (e-MFP): On the 30th September and 1st October 2020, the Selection Committee for the European Microfinance Award 2020 (EMA 2020) on “Encouraging Effective & Inclusive Savings” chose the three finalists who will go on to compete for the EUR 100,000 (USD 180,000) prize: Buusaa Gonofaa Microfinance, Muktinath Bikas Bank and RENACA-Bénin. These three organisations each offer savings products and services that are demand-driven, encourage usage based on a genuine understanding of clients’ needs and behaviour, reach under-served populations who need these services the most, and ensure that the savings are accessible, affordable and
MICROCAPITAL BRIEF: UNIDO Incubates Agro-processing Training Center, Moving Groundnut, Sesame Farmers Up Oils Value Chain in South Sudan
The UN Industrial Development Organization (UNIDO) recently handed over a program for developing agricultural value chains to local managers in South Sudan. Since its launch in 2019, 250 farmers in the country have enrolled, learning entrepreneurship skills and
MICROCAPITAL BRIEF: Bank of Abyssinia Launches 5 “Interactive” Teller Machines in Ethiopia, Allowing for Remote Account Opening, Access to Tellers via Video
Bank of Abyssinia, a financial services provider in Ethiopia, recently introduced terminals called “Interactive Teller Machines” (ITMs) that allow customers to open or close accounts, apply for loans, access tellers via video, transfer funds within Ethiopia, and withdraw and deposit cash.
MICROCAPITAL BRIEF: Greenlight Planet Secures $90m in Debt, Equity for Pay-as-you-go Solar in Africa, South Asia
Greenlight Planet, a for-profit social business with offices in Kenya, India and the US, recently secured USD 90 million in debt and equity to expand its sales of pay-as-you-go (PAYG) solar products. The investors are
MICROCAPITAL BRIEF: Executives of Uganda Microfinance Support Centre Jailed on Charges of Fraud, Embezzlement of $3m
Leaders of the Ugandan government’s Microfinance Support Centre (MSC) recently were released on bail after being held in prison on charges relating to the theft of UGX 10.8 billion (USD 2.9 million) that had been supplied by the Ugandan government for disbursal to the Uganda Teachers’ Cooperative Savings and Credit Union (UTC). The allegations consist of embezzlement and conspiracy to defraud,