by Renata Samadova -

MICROFINANCE EVENT: AFSIC: Investing in Africa; October 9-10, 2023; London, UK

The tenth edition of the Africa Financial Services Investment Conference (AFSIC) will promote investing in the continent with presentations on trends in environmental protection and sectors such as agriculture and financial technology (fintech). In addition to country-specific investment and networking meetings, the agenda includes sessions titled: (1) Banking in Africa – for

by Anaya Jhaveri -

MICROCAPITAL BRIEF: ILO, UNCDF to Expand PICAP Climate Microinsurance Program to 8 Pacific Countries

The UN’s International Labour Organisation (ILO) recently joined the UN Capital Development Fund (UNCDF) in its efforts to expand climate risk insurance in the Pacific region. The Pacific Insurance and Climate Adaptation Programme (PICAP), which was launched in 2020 by UNCDF and two other UN agencies, has supported insurers in deploying parametric coverage in Fiji, Tonga and Vanuatu. Parametric insurance pays

by Rohit Dayanand -

MICROCAPITAL BRIEF: FSD Africa Issues Convertible Loan of $1.2m to Africa Climate Ventures (ACV) Fund to Reduce Human Impacts on Environment

Africa Climate Ventures (ACV), a Rwanda-based venture fund that invests in “green” companies across Africa, recently borrowed EUR 1 million (USD 1.1 million) in the form of a convertible loan from Financial Sector Deepening (FSD) Africa Investments, an affiliate of the Kenya-based NGO FSD Africa. FSD Africa Investments is supporting the loan with

by Renata Samadova -

MICROCAPITAL BRIEF: Seedstars Accepting Applications from Fintechs Offering “Financial Innovations for Women Affected by Migration” Through July 30

Seedstars, a Switzerland-based investment and education firm, is accepting applications from financial technology (fintech) startups looking to scale up their services to women in Africa and Asia who have migrated from their homes or whose family members have done so. Seedstars is offering this support through its Financial Innovations for Women Affected by Migration (FIWAM) programme, which includes

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Pro Mujer Borrows $2m from Aequitas Impact Fund to Uplift Women-owned Businesses in Nicaragua

The Canadian NGO Desjardins International Development (DID) recently lent USD 2 million from its Aequitas Impact Fund to the Nicaragua-based unit of Pro Mujer, a US-based NGO that supports women and their businesses with health, training,

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Invest International Places $11m in Equity Fund uMunthu II to Support Rapidly Expanding SMEs in Africa

Netherlands-based Invest International recently committed EUR 10 million (USD 10.9 million) to the uMunthu II equity fund of Netherlands-based Goodwell Investments and Nigeria-based Alitheia Capital. The goal of uMunthu II is to generate market-rate returns by helping fast-growing small and medium-sized enterprises (SMEs) in Africa

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Verdant Capital Hybrid Fund Lending $9m to LOLC to Finance MSMEs in Africa

Mauritius-based Verdant Capital recently agreed to lend USD 9 million from its Verdant Capital Hybrid Fund to support subsidiaries of Sri Lanka’s Lanka Orix Leasing Company (LOLC) Holdings that offer savings and loans in Africa. These institutions, which serve Democratic Republic of Congo,

by Anaya Jhaveri -

MICROCAPITAL BRIEF: AIA Commits $200m to LeapFrog Investments Seeking Positive Social, Environmental Impact

AIA, a Hong Kong-based firm formerly known as American International Assurance, recently announced plans to invest USD 200 million in LeapFrog Investments, a US-based company investing in firms that deliver low-income customers

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Mogo Kenya Borrowing $7m from Verdant Capital Hybrid Fund to Boost Vehicle Ownership

Mauritius-based Verdant Capital recently announced that it will lend USD 7 million from its Verdant Capital Hybrid Fund to Mogo Kenya, a subsidiary of Latvia-based Eleving Group, to fund two-, three- and four-wheeled vehicles – some powered by electricity – for self-employed taxi and delivery drivers. The loan is structured in two tranches,

by Renata Samadova -

MICROCAPITAL BRIEF: Access Bank Botswana Borrows $20m from OPEC Fund for MSMEs, 30% Earmarked for Women

Access Bank Botswana, a subsidiary of the Nigeria-based Access Bank Group, recently agreed to borrow USD 20 million from the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development to on-lend to micro-, small and medium-sized enterprises (MSMEs), with USD 6 million of the total

by Renata Samadova -

MICROCAPITAL BRIEF: Satya of India Borrowing $35m from FMO, Finnfund for Microfinance for Rural Women, Youth – Including to Enable Green Transition

Satya MicroCapital, an India-based microfinance institution (MFI), recently borrowed the local-currency equivalent of USD 25 million from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) and USD 10 million from Finnfund, a development finance institution controlled by the government of Finland. The funding is intended to

by Elva Montelongo -

MICROCAPITAL BRIEF: Sun King Raises $130m for Pay-as-you-go Solar in Kenya, Citi is Sole Arranger

With the goal of expanding access to off-grid solar energy in Kenya, the US-based solar products firm Sun King recently won a loan securitization denominated in Kenyan shillings equivalent to USD 130 million. Among the private participants are

by Renata Samadova -

MICROFINANCE EVENT: Africa Impact Summit; July 13-14, 2023; Cape Town, South Africa

With a focus on impact investing, this event will explore how to build markets in Africa as well as pipeline opportunities and challenges. The agenda includes sessions such as: (1) Investing in SMEs [Small and Medium-sized Enterprises] and Start-ups; (2) Systems and Design Thinking for

by Renata Samadova -

MICROCAPITAL BRIEF: EIB Loans $214m to Sicredi for Solar Panels for Households, SMEs in Brazil

Banco Cooperativo Sicredi, a Brazil-based financial cooperative owned by its 6.5 million members, recently agreed to borrow EUR 200 million (USD 214 million) from the EU’s European Investment Bank (EIB). Sicredi plans to use the capital to equip houses and

by Ben Barba -

MICROCAPITAL BRIEF: SBFC Raises $18m from Amansa for On-lending to Small Businesses, Households in India

SBFC Finance, a lender based in the Indian city of Mumbai, recently raised INR 1.5 billion (USD 18.3 million) in a sale of stock to Amansa Capital, a Singapore-based private equity firm. The transaction came ahead of SBFC’s planned IPO, which is slated to have a total value of INR