by Anuhya Tadepalli -

MICROFINANCE EVENT: 10th Biennial Microfinance Conference; November 28 – December 1, 2018; Mekelle, Ethiopia

Summary of Event: Arranged by the Association of Ethiopian Microfinance Institutions (AEMFI), this event will cover research on topics such as rural financial services, digital financial services, social performance management, product innovation, and responsible finance. Sessions will also cover small and medium-sized enterprises, youth finance, renewable-energy finance, guarantee schemes, savings and credit cooperatives (SACCOs), and value-chain financing.

Background on Organizers:

Established in 1999, AEMFI is a nonprofit organization providing a platform for microfinance practitioners to work towards the expansion of the microfinance industry in Ethiopia. In addition to individuals and organizations indirectly involved in microfinance, AEMFI has 35 member microfinance institutions (MFIs) as of 2018. These organizations provide credit, savings, money transfer, and pension-payment services in eight of the 11 administrative units of Ethiopia.

by Michelle Fleming -

MICROFINANCE PAPER WRAP-UP: CGAP: “Building Inclusive Payment Ecosystems in Tanzania and Ghana;” by Max Mattern, Claudia McKay

This is a summary of a paper by Max Mattern and Claudia McKay, published by CGAP (the Consultative Group to Assist the Poor), June 2018, 35 pages, available at:
http://www.cgap.org/sites/default/files/Focus-Note-Building-Inclusive-Payment-Ecosystems-June-2018.pdf

This report addresses how advances in technology over the past

by the MicroCapital Team -

SPECIAL REPORT: Advans Cote d’Ivoire, ESAF Small Finance Bank, KMF Are Finalists for European Microfinance Award on Financial Inclusion Through Technology

On the 20th of September, the Selection Committee for the European Microfinance Award 2018 on “Financial Inclusion through Technology” chose the three finalists that will go on to compete for the EUR 100,000 (USD 118,000) prize: Advans CI of Ivory Coast, ESAF Small Finance Bank of India and KMF of Kazakhstan.

This year, the Award has highlighted the role of technology in advancing financial inclusion, showing how technology-enabled services and solutions can help financial services providers such as microfinance institutions increase outreach to low-income and vulnerable segments, offering products and services capable of responding to clients’ needs for trust, speed, low cost, security, usability and

by Michelle Fleming -

MICROCAPITAL BRIEF: Oradian Deploys Microfinance Software-as-a-service (SaaS) Instafin in Kenya

Oradian, a Croatia-based software-as-a-service (SaaS) company, recently won a contract with Jirani Smart, a microfinance institution (MFI) that has been active rural Kenya since 2016. As of 2018, Jirani Smart serves approximately 15,000 clients from seven branches.

Oradian’s flagship product is Instafin, a core

by Anuhya Tadepalli -

MICROFINANCE EVENT: Investing in Responsible Finance and Innovation for Africa’s Digital Economies; October 2, 2018; Dar es Salaam, Tanzania

Summary of Event: The Ninth Annual Responsible Finance Forum brings together investors, policymakers, practitioners, and innovators to discuss opportunities for growth as well as risks of abuse relating to digital financial services in Africa. Participants will learn about technology solutions and business models for accelerating

by Michelle Fleming -

MICROCAPITAL BRIEF: IFC, Egypt’s Ministry of Investment Connecting African Entrepreneurs, Start-ups with Growth Partners

The International Finance Corporation (IFC), a member of the World Bank Group, and Egypt’s Ministry of Investment and International Cooperation have agreed to identify 100 promising young entrepreneurs to “connect them with business leaders, international investors, financial institutions, and policymakers” in an

by Michelle Fleming -

MICROCAPITAL BRIEF: UNCDF, EU, Private Sector Foundation of Uganda, Uganda Development Bank Financing SMEs via “Support to Agricultural Revitalization and Transformation” (START) Program

The UN Capital Development Fund (UNCDF), the EU, the Private Sector Foundation of Uganda and the Uganda Development Bank recently launched the Support to Agricultural Revitalization and Transformation (START) program to finance small and medium-sized enterprises (SMEs) involved in agriculture in northern Uganda. The goals of the program include addressing the

by Michelle Fleming -

MICROCAPITAL BRIEF: Point-of-sale Service Provider Yoco of South Africa Raises $16m in Equity from Accion Frontier Inclusion Fund, FMO, Paratech

Yoco, a South African point-of-sale payment enabler, recently raised USD 16 million through its Series B funding round, which was led by US-based venture capital firm Paratech.

by the MicroCapital Team -

MICROCAPITAL BRIEF: First Money Microfinance of Zimbabwe Offers iSave Debit Card in Partnership with Econet’s Steward Bank

First Money Microfinance Services, a provider of loans, insurance and money-transfer services in Zimbabwe, recently debuted the iSave debit card, which allows customers to make purchases at 70,000 point-of-sale locations served by the country’s Zimswitch network. The debit card carries no monthly fees and has a usage limit of USD 3,000 per month. It is issued through Steward Bank, which is controlled by the South Africa-based Econet Group.

Founded in 2016, First Money is owned by a group of

by Erik McDonald -

MICROCAPITAL BRIEF: FMO Extending $450k Convertible Grant to Kenyan Fintech Firm Lendable

The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently agreed to extend a convertible grant of USD 450,000 to Lendable, a Kenyan firm that offers financing and analytics services to organizations such as leasing companies; pay-as-you-go energy service providers; and lenders to micro-, small and medium-sized enterprises. Convertible grants allow investors

by Erik McDonald -

MICROCAPITAL BRIEF: 30 Microfinance Institutions (MFIs) in Ghana Investigated for Possible Illegal Activity

Allegations of fraud and embezzlement have surfaced against roughly 30 microfinance institutions (MFIs) in Ghana. A preliminary investigation performed by the country’s Securities and Exchange Commission and the Economic and Organized Crime Office

by the MicroCapital Team -

SPECIAL REPORT: How Oikocredit Leveraged SAM (Semaine Africaine de la Microfinance) to Expand Its Risk-management Program

Since Yves Komaclo, Oikocredit2015, Dutch cooperative investor Oikocredit has offered a risk-management program for microfinance institutions (MFIs). Participating institutions have built action plans around efforts such as: (1) increasing their use of data from credit bureaux to reduce over-indebtedness; (2) adjusting loan officers’ workload and training to improve client service; and (3) surveying clients about product terms. When expanding the program to a new country, Oikocredit holds a workshop that is open to the entire sector to engage potential partners. From this pool of workshop attendees, those who demonstrate the greatest motivation and ability to make progress in risk management receive a package of consulting services lasting 18 to 24 months.

The program first was active in Benin, Ghana and Togo. As a result of Oikocredit’s sponsoring an event at the 2015 SAM in Dakar to increase awareness of its risk-management efforts, several institutions from other countries expressed

by Nicholas Galimberti -

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $7.1m to Agency for Finance in Kosovo (AFK); Advans Group to Refinance in DRC, Myanmar

The Grameen Credit Agricole Foundation (GCAF), whose head office is in Luxembourg, recently informed MicroCapital that it is disbursing loans to: (1) Agency for Finance in Kosovo (AFK) in the amount of EUR 1.4 million (USD 1.6 million),

by Nicholas Galimberti -

MICROCAPITAL BRIEF: Calvert Impact Loans $5m to One Acre Fund for Agricultural Inputs, Clean-energy Equipment Leasing to Smallholder Farmers in East Africa

Calvert Impact Capital, a US-based NGO that raises funds for organizations with “a social and/or environmental focus,” recently loaned USD 5 million to One Acre Fund, a US-based NGO active in the agriculture sector in Africa.

by Nicholas Galimberti -

MICROFINANCE EVENT: Finance for Refugees: “Making it Work;” September 7, 2018; The Hague, the Netherlands

Organized by the NpM Platform for Inclusive Finance, which was formerly known as the Netherlands Platform for Microfinance, this event will explore ways financial service providers can deliver products and services to refugee communities. One of the primary goals of the conference is to encourage private-sector investment in financial inclusion for refugees

by Nicholas Galimberti -

MICROCAPITAL BRIEF: CFI’s Africa Board Fellowship Accepting Applications from Microfinance Providers

The Center for Financial Inclusion (CFI), an affiliate of the US-based nonprofit Accion that promotes universal financial access, is seeking board members and CEOs of organizations that work toward financial inclusion in sub-Saharan Africa to enroll in its Africa Board Fellowship (ABF).