by the MicroCapital Team -

MICROCAPITAL BRIEF: Inclusivity Solutions, Provider of Insurance Technology (Insurtech) in Cote d’Ivoire, Kenya and Rwanda, Raises Equity Investments from Goodwell, Allan Gray, RGAx

Inclusivity Solutions, a South Africa-based provider of digital insurance services, recently raised USD 1.5 million in an equity round led by Goodwell Investments, a Netherlands-based investor in “inclusive growth” in Africa and India. Inclusivity has distributed insurance policies to 530,000 people via wireless service providers Cote d’Ivoire, Kenya and Rwanda. The firm plans to use its new cash to grow in these markets as well as to expand to other countries.

The managing partner of Goodwell Investments, Wim van der Beek, said, “…we believe that collaborative insurtech solutions like Inclusivity Solutions are best positioned to reach large numbers of underserved consumers” because of

by the MicroCapital Team -

MICROCAPITAL BRIEF: PBU Invests $15m in Nordic Microfinance Initiative’s NMI Fund IV to Invest in Women in Africa, Asia

Paedagogernes Pension (PBU), Denmark’s Pension Fund of Early Childhood Teachers, recently invested approximately USD 15 million, denominated in kroner, in NMI Fund IV, which is managed by the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions in developing countries.

The goal of the investment is

by the MicroCapital Team -

MICROCAPITAL BRIEF: Microfinance Institution La Regionale of Cameroon to Distribute Digital Social Security Payments from Government’s CNPS

The Caisse Nationale de Prévoyance Sociale (CNPS), Cameroon’s social security fund, recently authorized La Regionale d’Epargne et de Credit, a deposit-taking microfinance institution (MFI), to distribute benefits on its behalf. After conforming with

by Jolene Khor -

MICROFINANCE EVENT: 16th Consultative Forum on Climate and Disaster Risk; June 12 – 13, 2019; Johannesburg, South Africa

This event will explore the role that the insurance sector can play in addressing the risk management needs of poor and other vulnerable people in the developing world who are most affected by climate risk and natural disasters. This includes how stakeholders in the sector can collaborate and innovate to help reduce the “protection gap” and otherwise improve individuals’ resilience. The forum will

by the MicroCapital Team -

MICROCAPITAL BRIEF: Global Index Insurance Facility (GIIF) Offers $270k in Prizes to Insurers in South, East Asia via Agriculture Insurtech Innovation Challenge DEADLINE EXTENDED

Through May 15 (formerly April 30), providers of technology services that support agriculture index insurance in South Asia and East Asia may apply for nine prizes of up to USD 50,000 each. Index insurance is a mechanism by which covered individuals are reimbursed for losses when weather or other conditions exceed pre-established limits, rather than based on individuals’ losses.

The competition is divided into the following themes: (1) data and analytics; (2) sales and distribution; and (3) premiums and claims. The winners will be selected after the finalists

by Tiannah Steele -

MICROFINANCE PAPER WRAP UP: “Microfinance in the United States: Early Impacts of the Grameen America Program,” Published by Manpower Demonstration Research Corporation

This a summary of a paper by Kelsey Schaberg, Victoria Quiroz-Becerra, Toni Castro-Cosio, Stephen Nuñez and Richard Hendra; published by the Manpower Demonstration Research Corporation; March 2019; 34 pages; available at: https://www.mdrc.org/sites/default/files/Grameen_Report_final-web.pdf

Grameen America is an NGO that provides loans to low-income female entrepreneurs in the US. Women apply for loans as a group of five, and if approved, loans are distributed on an individual basis. However, if any member fails to repay her loan, other members cannot receive further loans until that individual’s loan is paid. To form a group, the members must

by the MicroCapital Team -

MICROCAPITAL BRIEF: Easypaisa Mobile Money Service of Telenor Microfinance Bank Offering Financial Access at Total Parco Fuel Stations in Pakistan

Customers of Easypaisa, a mobile money service of Telenor Microfinance Bank, are gaining access to financial services at the 800 Total Parco gas stations in Pakistan. The fuel stations have begun accepting Easypaisa to make purchases, and they are scheduled begin offering

by Tiannah Steele -

MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $500k in Local Currency to Vitas Egypt for Microfinance

Sanad Fund for MSME, a Luxembourg-based investment vehicle, recently loaned the equivalent of USD 500,000 in local currency to Vitas Egypt, a microfinance institution (MFI) that was launched in 2018. The MFI is a

by the MicroCapital Team -

SPECIAL REPORT: Christoph Pausch on Why You Should Complete a (Simplified!) Application for the $112k European Microfinance Award 2019: Resilience to Climate Change

MicroCapital: European Microfinance PlatformWhy did you choose “Strengthening Resilience to Climate Change” as the theme of the 2019 European Microfinance Award?

Christoph Christoph Pausch, e-MFPPausch: Climate change is the biggest issue we face as a society today. At the mitigation level, action is slowly (too slowly) being taken to reduce global emissions. However, a sensible response must include adaptation too. How do we live – and more importantly, help the most vulnerable to survive – in a world with a very different climate than we’ve been used to?

We have chosen “Strengthening Resilience to Climate Change” as the theme of the Award this year because resilience to the consequences of climate change is critical for the groups who will be most affected by these consequences. These groups are largely financially excluded, and they overwhelmingly live in places that will be most affected by worsening flooding, drought, storms, erosion or pests. Climate change also disproportionately affects those who make their livelihoods from agriculture, forestry, livestock husbandry and fishing.

While this is an immense challenge, we recognize the

by Tiannah Steele -

MICROCAPITAL BRIEF: Insular Life, IFC Launch “InLife Sheroes” Program to Boost Microinsurance Among Women in the Philippines

Insular Life, a Philippines-based insurance company, recently partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to form a program called “InLife Sheroes” to provide Filipino women with skills relating to “financial management, health, and well-being” and offer insurance programs with “specific coverage, bundling of products, and customized add-on services” intended to be of value to women. The program is

by Shuyang Sun -

MICROFINANCE EVENT: 15th Consultative Forum on Inclusive Insurance; May 7, 2019; Panama City, Panama

This event will address causes and potential solutions to the exposure that poor and other vulnerable people face to climate change and natural disasters. This includes the potential roles of insurers and policymakers in eliminating the protection gap as well as improving individuals’ resilience in general. The forum will take place

by the MicroCapital Team -

SPECIAL REPORT: Short-form Applications for $113k European Microfinance Award for Climate Resilience Due April 9

With European Microfinance Platforma new two-stage application process, the European Microfinance Platform (e-MFP) has opened the 2019 European Microfinance Award competition, which is themed “Strengthening Resilience to Climate Change.” Both financial institutions and their non-financial partners that serve vulnerable communities may apply through April 9 for the award, which includes a cash prize of EUR 100,000 (USD 113,000). Successful applicants will be invited to submit second-tier applications in early May. The winner will be announced during the 2019 European Microfinance Week, which will be held in

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: VisionFund DRC Borrows $1m from Grameen Credit Agricole Foundation for Rural Microenterprise Lending

VisionFund DRC, a microfinance institution (MFI) in the Democratic Republic of Congo, has secured a loan of approximately USD 1 million from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. VisionFund DRC provides loans, savings and microinsurance to approximately 2,900

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Disburses Local-currency Loan Worth $2.8m to AMK Microfinance Institution of Cambodia

The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it has lent the equivalent of EUR 2.5 million (USD 2.8 million) in local currency to AMK Microfinance Institution, which was founded in Cambodia in 2003 under

by Shuyang Sun -

MICROFINANCE EVENT: Africa Insurance and Reinsurance Conference: Innovations Disrupting the Insurance Industry; June 25 – 26, 2019; Nairobi, Kenya

This ninth iteration of this conference focuses on the development of the insurance and reinsurance industry in Africa from the perspectives of investment, technology and regulation. The agenda topics include: distribution, talent management, connecting with capital markets, climate change, agricultural insurance, Islamic

by the MicroCapital Team -

SPECIAL REPORT: SAM (African Microfinance Week) Scheduled for October 21-25, 2019, in Ouagadougou, Burkina Faso

Luxembourgish NGO ADA recently announced that the next SAM (Semaine Africaine de la Microfinance) will be held in Ouagadougou, Burkina Faso, from October 21 to 25, 2019. The themes for this fourth SAM include Agricultural Finance; Macro-Level Alignment with the UN Sustainable Development Goals; Digital Finance and Fintech; Cash Transfers; Gender Inequality; and Small & Medium Enterprise Development and Youth Employment. In addition to the conference sessions on October 22 and October 23, there will be an Investor’s Fair, an Innovator’s Fair, “Research Meets Africa” discussions and 20 free

by the MicroCapital Team -

MICROCAPITAL BRIEF: Smart Applications of Kenya Pays OTI $2.75m for MediSmart Medical Information, Insurance Claims Management System

Verdant Capital, a Mauritius-based corporate finance firm operating across Africa, has advised On Track Innovations (OTI), an Israel-based provider of products such as cashless payment systems, on its recent sale of MediSmart, a medical information management platform focused on the East African market. Smart Applications International, a biometric technology firm based in Kenya, paid USD 2.75 million for MediSmart, which has annual revenues of approximately USD 1.5 million. According to Verdant Capital, “By enabling efficient patient identification and claims administration, MediSmart facilitates the broadest possible