Copal, an Egypt-based financial technology (fintech) firm, recently entered a partnership with US-based payment processing corporation Mastercard to launch an app that helps families in Egypt to make payments and otherwise manage their finances. Plans for the app include
Category: Technology
MICROFINANCE EVENT: Technology for Change Asia; March 20-21, 2023; Singapore
The third iteration of this annual event will focus on how technology “can be applied to long-standing social challenges to connect with the consumer.” The event offers virtual sessions on March 20 and in-person sessions on March 21 on topics including: (1) Unlocking the Power of
MICROCAPITAL BRIEF: Ebanx Acquires Payment Initiator License, Accessing Pix to Simplify E-commerce Purchases in Brazil
Ebanx, a Brazil-based payments company with operations in 15 countries, recently received authorization from the Banco Central de Brasil, Brazil’s central bank, to use the bank’s instant payments platform Pix. This follows Ebanx’s acquisition of a Payment Initiation Service Provider (PISP) license from
MICROCAPITAL BRIEF: IMBE Using Finbit Technology from L-IFT to Support Child Care Providers in South Africa
Low-income Financial Transformation (L-IFT), a Netherlands-based firm, recently entered into an agreement with South Africa’s Imbe Enterprise Incubator whereby Imbe will provide L-IFT’s Finbit financial tracking software to its clients. The goal is to reach all of Imbe’s clients, who are primarily Black women who operate creches – child care facilities – in low-income neighborhoods. Finbit helps its users
MICROCAPITAL BRIEF: Agricover Credit Raises $9m for Agricultural SMEs in Romania via Symbiotics Bond Issue
Agricover Credit IFN, a non-banking financial institution in Romania that provides agribusinesses with agricultural inputs, technology and finance, recently partnered with Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, to raise USD 9 million via a bond issue. Symbiotics structured the transaction to be
MICROCAPITAL BRIEF: Cerise+SPTF Updates Social Performance Indicators (SPI) Online Platform
Cerise+SPTF, the joint venture of the NGOs Comité d’Echange, de Réflexion et sur les Systèmes d’Epargne-Crédit (Cerise) of France and the US-based Social Performance Task Force (SPTF), recently launched
MICROCAPITAL BRIEF: Yabx Raising Equity to Expand Backoffice Fintech for Financial Inclusion in Nigeria
Verdant Capital, a Mauritius-based corporate finance firm, recently announced that it is raising equity financing for Yabx Technologies, a Netherlands-based provider of software that enables digital lending, to expand its operations in Nigeria. The company helps
MICROCAPITAL BRIEF: Kwara of Kenya Raises $3m in Equity to Boost Technology for SACCOs, Acquires KUSCCO Software Subsidiary
Kwara, a woman-led financial technology (fintech) company serving credit unions in Kenya, the Philippines and South Africa, recently raised USD 3 million from its previous investors DOB Equity, Globivest and Willard Ahdritz plus a group of
MICROFINANCE PAPER WRAP-UP: “Financial Inclusion That Works for Women,” by Sam Mendelson, Published by e-MFP
This paper explores model practices in financial inclusion for women through the work of the winner and nine semi-finalists for the European Microfinance Award 2022. Mr Mendelson sorts the lessons learned into three approaches to how financial services providers (FSP) can foster women’s financial inclusion: offering
MICROCAPITAL BRIEF: Oikocredit Loans Yellow of Uganda $5m for Off-grid Solar Energy in Africa
Oikocredit, a Netherlands-based cooperative, recently lent USD 5 million to Yellow, a Uganda-based supplier of pay-as-you-go solar electricity products and systems, to expand its operations in sub-Saharan Africa. Pay-as-you-go services are those
MICROCAPITAL BRIEF: AfDB, IFAD Launch M1-200 to Support Agricultural SMEs in Africa
The multilateral African Development Bank (AfDB) and the UN’s International Fund for Agricultural Development (IFAD) recently announced an initiative to scale up food production in Africa. The program
MICROCAPITAL BRIEF: Remitly Acquires Remittance Fintech Rewire
Remitly, a US-based digital payments provider, recently acquired Israel-based payments company Rewire. Established in 2015, Rewire targets
MICROFINANCE EVENT: SOCAP23; October 23-25, 2023; San Francisco, California, USA
This event will focus on increasing the reach of “investable and profitable businesses” that contribute to solving global issues. Through February 17, those who operate such entities
MICROCAPITAL BRIEF: DEG Loans Husk Power $750k for Solar Microgrids in Nigeria, India
The German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft (DEG) recently lent USD 750,000 to Husk Power Systems, an India-based supplier of small-scale electricity generation and distribution networks, to construct
MICROFINANCE EVENT: FinovateSpring; May 23-25, 2023; San Francisco, California, USA
This event focuses on financial technology (fintech), with 60 demos on the agenda as well as sessions such as: (1) Why Reimagining
MICROCAPITAL BRIEF: African Fintech Nala Expands Remittance Service to EU, Launches Business Platform
Nala, a payments company launched in Tanzania in 2018, recently added 19 EU nations to the range of markets from which its users may send money transfers. The app targets
MICROCAPITAL BRIEF: China Mobile’s Zong Unveils PayMax Payment Service in Pakistan
China Mobile, a China-based telecommunications company, recently launched a digital payments product called PayMax via its subsidiary China Mobile Pakistan (CMPAK), which trades under the brand name Zong. Zong is targeting
MICROFINANCE EVENT: Arab Savings & Financial Literacy Conference; October 9-11, 2023; Cairo, Egypt – NEW DATES
This event, which originally was set to begin on May 7, 2023, will focus on the importance of financial literacy and long-term savings in improving household financial stability. It offers in-person and remote access to sessions such as: (1) Reconciling the