Through its Aequitas Impact Fund, the Canadian NGO Desjardins International Development recently lent USD 1 million to the nonprofit Asociación para el Desarrollo Integral de Guatemala (ADIGUA). ADIGUA was founded in the city of Sololá, Guatemala, in 2003 to support
MICROFINANCE PAPER WRAP-UP: “Establishing a Financial Services Ombudsman in Mongolia: Experiences and Lessons from Armenia, Australia and Singapore,” by Massimiliano Gangi et al
This paper explores the potential of introducing an independent ombudsman system to address complaints by consumers against financial services providers (FSPs) in Mongolia by exploring existing dispute resolution systems in Armenia, Australia and Singapore.
Among the similarities of these three systems are:
MICROCAPITAL BRIEF: Kashf Foundation of Pakistan Borrows in Local Currency from SEB Microfinance Funds, Arranged by Symbiotics
Kashf Foundation, a provider of microloans and microinsurance to women in Pakistan, recently secured a local-currency loan of undisclosed size from SEB Microfinance Funds, an offering of
MICROCAPITAL BRIEF: Imkon of Uzbekistan Nets Convertible Debt from BOPA to Expand Microfinance, SME Finance
Imkon Finans, an Uzbekistani joint stock corporation that provides financial services to micro-, small and medium-sized enterprises, recently borrowed an undisclosed sum – in the form of debt that can be converted into equity – from Base of Pyramid Asia (BOPA), a Singapore-based investor in microfinance. Imkon, which is based in the city of Andizhan, plans to use the fresh cash to
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
MICROCAPITAL BRIEF: EIB Lending $22m to Sahanala to Boost Sustainable Fisheries, Agricultural Value Chains, Mechanization of Farms in Madagascar
The EU’s European Investment Bank (EIB) recently agreed to loan EUR 20 million (USD 21.9 million) to Sahanala, a farmer-owned social enterprise in Madagascar, for a project to: (1) mechanise farms to increase agricultural yields; (2) develop enterprises that process grains, oils and animal feed for domestic sales; and
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
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
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
MICROCAPITAL BRIEF: Paywatch, Visa to Expand Early Access to Wages, Payment Services in Asia
Paywatch, a Malaysia-based provider of earlier access to salaries in East and Southeast Asia, recently entered an agreement with US-based financial technology firm Visa to expand its geographic range as well as the range of payment services it provides to people in Asia – particularly Southeast Asia – who otherwise
MICROCAPITAL BRIEF: CEB, EU Expand Roma Housing Microfinance, Financial Inclusion Program to Bulgaria
The multilateral Council of Europe Development Bank (CEB) and two EU institutions, the European Parliament and the European Commission, recently launched the Housing and Empowerment for Roma (HERO) program in Bulgaria. As part of the program, Tokuda Bank, which is based in the Bulgarian city of Sofia, will provide 200 members of the Roma community with microloans totaling EUR 490,000 (USD 550,000) as well as financial literacy training. The purpose of the loans is to
MICROCAPITAL BRIEF: Bankingly, Woodcore Partner to Help FSPs in Africa to Offer Digital Financial Services
Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add
MICROCAPITAL BRIEF: 60 Decibels Microfinance Index Data from 32 Countries Indicates Higher Confidence Among Group Borrowers, Greatest Debt Burden in Cambodia
This year’s second annual Microfinance Index from US-based impact measurement firm 60 Decibels draws on phone calls to approximately 32,000 users of microfinance services delivered by 115 financial services providers (FSPs) in 32 countries. In general, FSP clients reported higher confidence in dealing with economic shocks than
MICROFINANCE EVENT: Global SME Finance Forum; September 12-14, 2023; Mumbai, India
The ninth iteration of this event will explore financial services providers’ delivery of digital services to small and medium-sized enterprises (SMEs), leveraging samples from India and abroad. The forum will cover topics – particularly “ecosystems” – relating to digital finance, international
MICROCAPITAL BRIEF: 24 Education Technology Startups in Kenya, Nigeria Joining Mastercard Foundation EdTech Fellowship
The Canada-based Mastercard Foundation recently announced that 24 educational technology (edtech) startups in Kenya and Nigeria have joined the Mastercard Foundation EdTech Fellowship program, which promotes “technology in learning and teaching to benefit learners, education and edtech innovators across the continent” of Africa. The Kenyan inductees are listed at:
MICROCAPITAL BRIEF: Patasente Agricultural Trading Platform Accesses Credit Line Via Verdant Capital for Onlending, Invoice Discounting in Uganda
Mauritius-based Verdant Capital, a corporate finance firm, recently facilitated a revolving credit account for Patasente, a Ugandan firm operating a digital trading platform for actors in agricultural value chains. The new facility will fund
MICROCAPITAL BRIEF: BIO Loans $15m to AMK Microfinance of Cambodia
BIO, a government-owned institution also known as the Belgian Investment Company for Developing Countries, recently loaned USD 15 million to Cambodia’s Angkor Microheranhvatho Kampuchea (AMK). AMK provides individuals as well as micro-, small and medium-sized enterprises with
MICROFINANCE PAPER WRAP-UP: “Worth Your Weight: Experimental Evidence on the Benefits of Obesity in Low-income Countries,” by Elise Macchi
This paper examines how the perception of obesity as a symbol of wealth can yield financial benefits to overweight people in southern Uganda. The author applied computer software to photos of 34 test subjects to create