SPECIAL REPORT: European Microfinance Week 2023 Is Almost Here! A Tour of the Upcoming Conference’s Sessions and Streams

e-MFP logoEuropean Microfinance Week (EMW) 2023, taking place in Luxem­bourg from 15-17 November, is fast approaching! One of the sector’s premier knowledge-sharing and networking events, EMW welcomes more than 500 professionals, in-person and online, and this year will comprise over 40 sessions – plenaries, breakouts, closed-door round­tables and Action Group meetings – organised across several thematic streams. These include: ‘Inclusive Finance for Food Security & Nutri­tion’, Green and Climate-smart Finance, Refugees and Forcibly Dis­placed Persons, Digi­talisation, Investing, Financial Health, Client Pro­tection, and Out­comes & Impact, among others. Here is a selection of what attendees can expect:

‘Inclusive Finance for Food Security & Nutrition’ is the topic of the European Microfinance Award 2023, the €100,000 prize award­ed annually by the Luxembourg Ministry of Foreign and European Affairs, which this year seeks to highlight innovations by financial ser­vices pro­viders (FSPs) to safeguard access to quality and affordable food for vul­nerable populations and to increase resilience of food systems. EMW2023 attendees will be able to choose from a range of sessions address­ing the different dimensions of food security, including:

MICROCAPITAL BRIEF: Banco de Credito del Peru (BCP) Launches iO Banking App with Support from i2C 

With the goal of encouraging digital banking and boosting financial inclusion, Banco de Credito del Peru (BCP) recently collaborated with US-based payment software company i2C Incorporated to launch the iO app, which is available on the App Store and Google Play. The app’s offerings include: (1) conventional and virtual credit cards branded by US-based Visa Incorporated;

MICROCAPITAL BRIEF: ABI to Leverage $69m from EIB to Boost SME, Mid-cap Financing in West Africa – Focusing on Women, Youth

Atlantic Business International (ABI), a holding company owned by the Morocco-based Banque Centrale Populaire (BCP) Group, recently entered an agreement with the EU’s European Investment Bank (EIB) whereby EIB will fund half of EUR 130 million (USD 138 million) in funding to be distributed via ABI’s Banque Atlantique institutions in Burkina Faso, Côte d’Ivoire and Senegal. The funds are to be directed to small and medium-sized enterprises (SMEs) and mid-caps with the goal of

MICROFINANCE PAPER WRAP-UP: “Mobile Money, Interoperability and Financial Inclusion;” by Markus K Brunnermeier et al; published by National Bureau of Economic Research (NBER)

In this paper, the authors examined the effects of platform interoperability on competition and financial inclusion in Africa. In particular, they studied interoperability among mobile money operators, a mechanism that allows users to transfer money between different mobile money providers and across mobile networks.

MICROCAPITAL BRIEF: Energy Entrepreneurs Growth Fund (EEGF) Raises $125m to Increase Access to Energy in Sub-Saharan Africa

The Energy Entrepreneurs Growth Fund (EEGF), an initiative of the UK-based Shell Foundation and Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO), recently closed a fundraising round at USD 125 million. EEGF is intended to increase access to renewable energy in

MICROCAPITAL BRIEF: David Grimaud Named CEO of Palladium Group’s Bamboo Capital Partners

The Luxembourg-based fund manager Bamboo Capital Partners recently selected David Grimaud as its CEO, marking the departure of Jean-Philippe de Schrevel, the company’s founder. Mr Grimaud has a background in impact investing and asset management

MICROFINANCE EVENT: Global Inclusive Finance Summit; December 12-13, 2023; New Delhi, India

This event, formerly known as the Inclusive Finance India Summit, is in its 20th year. The organizers expect 1,200 delegates to attend. While the agenda for this year has not been released yet, the 2022 iteration offered sessions such as:

MICROCAPITAL BRIEF: Joliba Capital Raises $58m in Equity from FMO, IFC, Proparco to Support SMEs, Mid-caps in Central, West Africa

Joliba Capital of Côte d’Ivoire recently raised EUR 55 million (USD 57.8 million) for its newly launched Joliba Capital Fund. The participants in this first close of the fund are the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); the International Finance Corporation (IFC),

MICROCAPITAL BRIEF: Sama Money Acquires Première Agence de MicroFinance, Entering Microcredit Market in Mali

Sama Money, a provider of mobile money services in Burundi, Côte d’Ivoire and Mali, recently purchased the Malian microfinance institution Première Agence de MicroFinance (PAMF), after receiving approval from the Central Bank of West African States to operate as an Electronic Money Establishment (EME).

MICROCAPITAL BRIEF: Rite Water of India Nets $8m in Equity from Incofin via Water Access Acceleration Fund

Incofin, a Belgium-based investor in lower-income countries, recently invested EUR 7.5 million (USD 7.8 million) through its Water Access Acceleration Fund (W2AF) in Rite Water Solutions, a company seeking to improve access to clean drinking water in India. Founded in 2006, Rite Water specializes in

MICROFINANCE EVENT: Social Enterprise Conference; October 27, 2023; New York City, USA

This event will explore the “ecosystem of capital through the lens of philanthropy, impact investing, ESG [environmental, social and governance issues] and social venture and business examples” related to “generating sustainable solutions to global, systemic challenges.” Sample session topics include: (1) Ethical AI: Balancing Innovation and Social Responsibility; (2) Financial Inclusion in the Digital Age: How Fintech [Financial Technology] is Connecting Underserved People; and (3) Carbon Credits: The Future of Climate Finance.

MICROCAPITAL BRIEF: Abler Nordic Leads $10m Equity, Debt Investment Round for Ergos, Agtech Offering Crop Storage in India

Abler Nordic, a public-private partnership whose investors include the Danish and Norwegian governments, recently led the Series B fundraising round of Indian agricultural technology (agtech) company Ergos, which offers crop storage and a digital platform linking farmers to markets. The funding round comprised

MICROCAPITAL BRIEF: Microfinance Institution PEBCo-Bethesda of Benin Borrows $2m from Incofin via Agricultural Liquidity Fund

Incofin, a Belgium-based investor, recently disbursed a loan of EUR 2 million (USD 2.1 million) to PEBCo-Bethesda, a microfinance institution in Benin, from the Agricultural Liquidity Fund (ALF).

MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Satin Creditcare, Provider of Microfinance to Low-income Women in India

After first investing in the non-banking financial company – microfinance institution (NBFC-MFI) in 2014, the development finance institution Abler Nordic has now exited its investment in Satin Creditcare, a provider of financial services to underrepresented women in India. Among the initial goals of the partnership was to

MICROCAPITAL BRIEF: HugoBank, KT, Mashreq, Raqami Islamic, Telenor Microfinance Earn Regulatory Approval to Pilot Digital Banking Services in Pakistan

The State Bank of Pakistan (SBP) recently furnished five commercial banks with in-principle approval to set up digital banking platforms. Three of the five – HugoBank, KT Bank Pakistan and Raqami Islamic Digital Bank – have been established this year while the others – Mashreq Bank Pakistan and Telenor Microfinance Bank – have longer track records. These banks can now offer digital financial services on a limited basis, before final rollouts are approved by SBP.