This 
paper explores the impact of the COVID-19 pandemic on clients of microfinance institutions (MFIs) in terms of: “Which client segments are most affected? How are they coping with the situation? What are they doing to
MICROFINANCE EVENT: European Microfinance Network (EMN) Annual Conference; October 14-15, 2021; Brussels, Belgium
The 18th European Microfinance Network (EMN) Annual Conference is themed “inclusive finance for an inclusive future.” The agenda includes topics such as the digitization of financial services, creating resilient business models and “microfinance as a pioneer in impact investing.” The second day of the event coincides with
MICROCAPITAL BRIEF: Belstar Microfinance Raises $48m in Equity to Boost Service to Women, Low-income Households in India
Belstar Microfinance, a non-banking financial company controlled by India-based Muthoot Finance, recently raised INR 3.5 billion (USD 47.6 million) in equity. An unspecified portion of the funds are from Affirma Capital, a Singapore-based private equity firm that is a first-time investor in Belstar. The remainder of the new equity comes from
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $4.6m to Agency for Finance in Kosovo (AFK), Microinvest of Moldova, Monte Credit of Montenegro
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, has informed MicroCapital that it is disbursing loans to: (1) Agency for Finance in Kosovo (AFK) in the amount of EUR 1.5 million (USD 1.8 million); (2) Moldova-based Microinvest in local currency approximately
MICROCAPITAL BRIEF: Visa Testing Offline Payment System in India to Expand Financial Inclusion in Rural Areas with Poor Internet Connectivity
Visa Incorporated, a US-based payments company, recently announced it is expanding its pilot-testing of a system to enable payments in areas without a stable internet connection. Having completed a successful trial in five villages in the Indian state of Karnataka, Visa is partnering with
MICROCAPITAL BRIEF: In India, MFIs, State Government Agree on Assam Microfinance Relief, Incentive Scheme for Women Borrowers Struggling with COVID-19 Impacts
The government of the Indian state of Assam recently announced it has reached an agreement with 38 microfinance institutions (MFIs), many of which are members of the self-regulating Microfinance Institutions Network (MFIN), to launch the Assam Microfinance Incentive and Relief Scheme (AMFIRS). For those who have been late repaying their microloans, the “relief under the scheme shall be extended to…
MICROCAPITAL BRIEF: EBRD Loans $50m to QNB Alahli of Egypt to Boost Green Lending to Individuals, SMEs
Qatar National Bank (QNB) Alahli, an Egyptian member of the QNB Group, recently accepted a loan of USD 50 million from the multilateral European Bank for Reconstruction and Development (EBRD) to fund on-lending to individual borrowers as well as small and medium-sized enterprises (SMEs) performing “green, energy efficiency, water efficiency, renewable energy and resource efficiency projects.” The loan is part of
SPECIAL REPORT: The SAM Innovators’ Village – What About the 2019 Iteration Convinced So Many to Return for the SAM 2021 Coming Up in October in Rwanda?
The SAM (Semaine Africaine de la Microfinance – African Microfinance Week in French) is a major five-day gathering dedicated to inclusive finance in Africa. Since the first SAM in 2013, the SAM has consistently offered a true ecosystem of events, including a two-day conference that this year will deeply explore the resilience of the sector and the populations it serves, thanks to the participation of a range of high-level speakers and panelists. Before and after the conference, participants will meet new partners and learn new skills at the Investors’ Fair, the Innovators’ Village and a wide assortment of free training sessions and workshops.
The Innovators’ Village is a key element of the SAM, showcasing innovative solutions that strengthen the resilience of individuals and organisations in the inclusive finance sector. It is also a meeting place, creating opportunities for synergies among a myriad of actors in the sector. At the Innovators’ Village, you’ll find a range of organisations that can strengthen the resilience to shocks of African institutions and populations through concrete tools, methodologies, products and services. Exhibitors will meet new potential customers and investors to develop their businesses, as well as partners for new projects. Practitioners likewise will identify innovative solutions that meet their needs and find potential partners and investors. Funders can identify innovative solutions with high potential for both social and financial returns.
Probably the most effective way to understand the value of the Innovators’ Village is through the words of leaders who have participated as exhibitors in the past and will return for this next edition of the SAM, which will take place in Kigali, Rwanda, from October 18 to 22, 2021.
Jarek Chuchla, Microfact Coordinator: Every single edition of the SAM is a
MICROFINANCE EVENT: The SAM (Semaine Africaine de la Microfinance); October 18-22, 2021; Kigali, Rwanda
This year’s SAM (Semaine Africaine de la Microfinance) includes five days of conference sessions, an investors’ fair, an “Innovators’ Village,” research presentations, training sessions and workshops under the theme “Resilience of the African Inclusive Finance Sector.” The two-day conference portion of SAM includes sessions on topics such as how the COVID-19 pandemic has affected efforts to meet the UN Sustainable Development Goals, financing agricultural value chains, risk management, serving youth, digital infrastructure and post-crisis reconstruction. The other days of SAM include workshops on topics such as social performance,
MICROCAPITAL BRIEF: Impact Platform Capshift Closes $5m Equity Funding Round for Investment Infrastructure
Capshift, a US-based facilitator of impact investments, recently closed an investment round totaling USD 5 million to expand its “technology platform, impact investment research database and advisory capabilities.” Capshift defines impact investing as that “made with the intention to generate positive, measurable, social and environmental impact alongside
MICROCAPITAL BRIEF: Centraal, Google, IDB Lab Seeking Applicants for LAC Women Founders Accelerator Program Through September 12
Three organizations recently launched the LAC Women Founders Accelerator Program “for STEM [science, technology, engineering and mathematics] startups led by women in Latin America and the Caribbean [LAC]”: (1) Centraal, “a coworking space, a meeting place, and home to a number of startups” in Mexico; (2) US-based technology firm Google; and (3) IDB Lab, a member of the Inter-American Development Bank (IDB) Group. Twenty startups will be selected to participate in the 10-week program, which includes mentorship; a “Demo Day,” during which entrepreneurs can
MICROCAPITAL BRIEF: El Salvador Plans Cryptocurrency ATMs, Chivo App, Kiosks as Bitcoin Set to Become Legal Tender September 7
President Nayib Bukele of El Salvador recently announced that the country is setting up 200 automated teller machines (ATMs) and 50 staffed kiosks to facilitate exchanges of the cyrptocurrency bitcoin into US dollars for withdrawal as cash. All transactions will be conducted through the
MICROCAPITAL BRIEF: SoftBank Leads $400m Equity Funding Round for Fintech OPay of Nigeria as it Eyes International Expansion
The SoftBank Vision Fund 2, a vehicle of the Japanese conglomerate SoftBank, recently led an investment package totaling USD 400 million in the Nigeria-based financial technology (fintech) firm OPay, a mobile platform for sending payments. The funding round values
MICROCAPITAL BRIEF: Triple Jump via ASN Microkredietpool, NMI, Incofin Place $9.4m in Equity in Light Microfinance for Financial Inclusion of Women in Rural India
Light Microfinance, a non-banking finance institution in India, recently raised equity from three European organizations: USD 4 million from Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership active in Africa and Asia; USD 3 million from ASN Microkredietpool, a microfinance fund managed by Netherlands-based Triple Jump; and EUR 2 million (USD 2.4 million) from
SPECIAL REPORT: Building Resilience for Microfinance Clients – the SAM 2021 Conference in Kigali, Rwanda, October 18-22
MicroCapital: How will the theme resilience be addressed during the SAM 2021?
Yombo Odanou: The EU has defined resilience as “the capacity of an individual, household, community, country or region to resist, adapt and recover quickly from crises and shocks.” The dual climate and COVID-19 crises and their effects on the global economy are forcing institutions to find new ways to take advantage of this austere environment.
Christophe Hebting: We believe the discussions at the SAM can build the resilience capacity of all actors in the inclusive finance sector. This includes addressing questions such as: How can resilience be increased through structural change? In the face of climate change? Through technological innovations?
MC: How are you addressing concerns attendees may have regarding the potential transmission of COVID-19 during the event?
YO: Since the beginning of this pandemic, MAIN has initiated actions to enable its members to minimise the risk of infection, allowing them to continue
MICROCAPITAL BRIEF: Forest Capital Acquires Kayvee Microfinance Bank of Nigeria as Part of Farmforte Plan to Boost Agricultural Value Chains via Technology, Financial Access
Forest Capital, a unit of Nigeria-based Farmforte Limited, recently acquired Nigeria’s Kayvee Microfinance Bank for an undisclosed price. Based in Nigeria, Farmforte’s goal is
MICROCAPITAL BRIEF: Deetken Impact Invests in Pro Mujer Mexico – Provider of Education, Healthcare, Microfinance – Through Ilu Women’s Empowerment Fund
Canada-based asset management company Deetken Impact and US-based nonprofit women’s development organization Pro Mujer recently announced they are making an investment in Pro Mujer Mexico from the investment vehicle they co-manage, the Ilu Women’s Empowerment Fund. The parties to the transaction wish
MICROCAPITAL BRIEF: Philippines Moving Toward New Effort to Promote Financial Inclusion, Education in Rural Areas
The Committee on Rural Development of the Philippines’ House of Representatives recently approved a bill that would implement a “financial and digital literacy program” to boost access to financial services – including