MICROCAPITAL BRIEF: FINCA Microfinance Bank of Tanzania Rolls Out HaloYako Mobile Savings Product

The Tanzanian affiliate of the US-based Foundation for International Community Assistance (FINCA International) recently began offering a service called HaloYako that allows people to open savings accounts via mobile phones. There is no fee to use the service or maintain the associated account. In fact, customers can earn

MICROCAPITAL BRIEF: Alternative Credit Scoring Firm MicroMoney, Peer-lending Platform Karma Partner to Promote Financial Inclusion

Singapore-based alternative credit scoring firm MicroMoney and Netherlands-domiciled peer-lending NGO Karma recently announced a partnership to work toward their shared “mission to help billions of people to be financially included” in Africa, Asia, and Latin America. MicroMoney will access repayment data from

SPECIAL REPORT: Innovations in Fintech, Human Resources Development at SAM (Semaine Africaine de la Microfinance)

At SAM Conference 2017, Addis Ababa, Ethiopiathe SAM (Semaine Africaine de la Microfinance) conference in Addis Ababa, a wide variety of vendors presented their wares. Among these were several core banking system providers. Antonio Separovic of Oradian previously had set the stage for the conversation at the fintech (financial technology) session organized by Dutch development bank FMO. He argued that microfinance institutions (MFIs) shouldn’t start by thinking about whether to buy a new system, but about where the MFI wants to go and how to get there. “Fintech may be able to reduce the friction to do these things,” he said.

Cameron Goldie-Scot of Musoni agreed: “It’s about what are the challenges in your organization? Is it too expensive to handle cash in rural areas? Do you have trouble getting

MICROCAPITAL BRIEF: Egyptian Mobile Payment Platform Fawry Sells Equity Stake to Private Equity Firm Managed by responsAbility

An entity managed by Switzerland’s responsAbility Investments recently purchased a stake of undisclosed size and price in Fawry, a mobile payments platform in Egypt. Fawry has 20 million customers, whom it enables to pay bills and make retail purchases via mobile phones, credit cards, automatic teller machines, accounts at 23 banks, and point-of-sale machines at 65,000

MICROFINANCE EVENT: The Microfinance Centre’s (MFC’s) Alternative Finance Forum; October 5, 2017; Warsaw, Poland

Event Name: Alternative Finance Forum

Event Location: Copernicus Conference Centre; Warsaw, Poland

Summary of Event: This forum aims to “introduce new forms of financial services” while covering topics including equity-based crowdfunding, social impact bonds, online lenders to small businesses and peer-to-peer lending platforms. The event has support from the European Union and its European Investment Bank Institute.

MICROCAPITAL BRIEF: UK-based Humaniq Harnesses Blockchain, Biometrics To Launch Mobile Money Service in Ghana, Asia, South America

Humaniq, a London-based technology company, recently announced the launch of its “blockchain-powered financial inclusion app,” which allows users to send and receive money. Humaniq has

MICROCAPITAL BRIEF: CGAP Accepting 2017 Photo Contest Entries Through September 29

CGAP (the Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the expansion of financial access, is seeking submissions of original photographs for its annual competition, which aims to highlight the positive effects of microfinance.

MICROCAPITAL BRIEF: SoftBank Pays $1.4b for 20% Equity Stake in Paytm, Provider of Digital Payment Services in India

Paytm, an Indian electronic payment and e-commerce company with 220 million users, recently raised INR 90 billion (USD 1.4 billion) in equity by selling nearly 20 percent of its shares to SoftBank Group, a Japanese conglomerate operating in the technology and energy sectors.

MICROCAPITAL BRIEF: Vodacom Paying $2.6b to Its Majority Shareholder, Vodafone, for 35% Equity Stake in Owner of Kenya’s M-Pesa Mobile Money Service, Safaricom

Vodacom, a unit of UK-based Vodafone Group Plc that provides mobile communications services to 61 million subscribers in Africa, is paying Vodafone ZAR 34.6 billion (USD 2.6 billion) for a 34.94-percent stake in Safaricom, a Kenyan mobile network operator.

MICROCAPITAL BRIEF: SureBüddy, Provider of Free Funeral and Handset Insurance, Expands to Uganda

South African technology firm AxMe International Services recently expanded its SureBüddy insurance application to Uganda, allowing users in that country to view advertisements in return for no-cost insurance for their mobile phone screens.

MICROCAPITAL BRIEF: Apply by June 5 for The MasterCard Foundation’s $150k “Clients at the Centre” Prize

The MasterCard Foundation, which is based in Canada, is accepting applications through June 5 for its 2017 “Clients at the Centre” Prize, which includes a cash award of USD 150,000.

MICROCAPITAL BRIEF: Ant Financial, Emtek to Launch Mobile Payment Service in Indonesia

Ant Financial Services Group, a member of China’s Alibaba Group and the parent company of Alipay, and Elang Mahkota Teknologi (Emtek), an Indonesia-based media company, recently announced plans to launch a mobile payment platform in Indonesia. The new service will run on BlackBerry Messenger (BBM)

MICROCAPITAL BRIEF: Ant Financial, Ayala Buy Equity Stakes in Globe’s Mynt, Operator of the Philippines’ GCash, Fuse Lending

Ant Financial Services Group (Ant Fin), a member of China’s Alibaba Group, and Ayala Corporation, a Philippine conglomerate, recently announced their purchases of minority stakes in Globe Fintech Innovations, a financial technology (fintech) affiliate of Globe Telecom that uses the trade name Mynt. Mynt operates GCash, a mobile money