The African Development Bank (AfDB), a multilateral institution that works to alleviate poverty in Africa, recently joined the NASDAQ (National Association of Securities Dealers Automated Quotations) Sustainable Bonds Network (NSBN), an online platform promoting bonds that fund projects addressing the UN’s Sustainable Development Goals. As of July 2020, 10 of AfDB’s bonds are
MICROCAPITAL BRIEF: ADA, Grameen Crédit Agricole Foundation Respond to COVID-19 with Information Sharing, Funding, Partnerships
Luxembourg-based NGOs ADA (Appui au Développement Autonome) and the Grameen Crédit Agricole (GCA) Foundation have launched a range of resources in response to the COVID-19 pandemic including the following:
SPECIAL REPORT: European Microfinance Week Going Virtual November 18-20, 2020
Save 
the date for this year’s European Microfinance Week, which will occur online from November 18 to November 20, 2020! The agenda will include all of the hallmarks of this annual event, including Action Group meetings, incisive plenaries, and the presentation of the 2020 European Microfinance Award for “Encouraging Effective & Inclusive Savings.” More details will be released soon
This notice is part of a sponsored series on European Microfinance Week. This event is held annually by the European Microfinance Platform (e-MFP), a Luxembourg-based network with approximately 130 members. MicroCapital has been engaged to cover the event on-site each year since 2012.
Sources and Additional Resources
European Microfinance Platform (e-MFP) Action Groups
http://www.e-mfp.eu/action-groups
European Microfinance Award
http://www.e-mfp.eu/award
MicroCapital coverage since 2012 of European Microfinance Week, including each European Microfinance Award
https://www.microcapital.org/category/european-microfinance-week/
MICROCAPITAL BRIEF: BCEAO Revising Microfinance Regulation to Promote “Responsible” Digital Financial Inclusion in West Africa; Supported by FAPSFD, UNCDF
The Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO), the central bank of the eight countries of the Union Economique et Monétaire Ouest Africaine (UEMOA), is finalizing an updated set of regulations on microfinance with support from institutions including the UN Capital Development Fund (UNCDF) and the Fédération des Associations Professionelles des Systèms Financiers Décentralizés (FAPSFD), which represents groups of microfinance practitioners in each country of UEMOA. FAPSFD President Azartou Sondo Nignan explains that
MICROCAPITAL BRIEF: Unibank of Armenia Offers UNIMobile Mobile Banking App for Sending, Receiving Remittances via Unistream Network
Unibank, an Armenian commercial bank, recently announced that its customers can use the bank’s mobile banking apps to send and receive money transfers through Unistream, a remittance service that reaches 150,000 cash-out points in 90 countries. The apps are
MICROFINANCE EVENT: Africa Fintech Summit; November 9-12, 2020; Virtual; NEW FORMAT AND DATES
Originally scheduled to take place during October in the US city of Washington, DC, this event was converted to a digital format. The summit will include sessions on blockchain, revenue models for financial technology (fintech), “InsurTech [Insurance Technology] in Africa,” and “Digital Identity and Financial Inclusion.” There will also be: (1) a pitch competition serving as a regional final for the StartUp World Cup, a contest with a grand prize of USD 1 million; and (2) an Alpha Expo, “an opportunity for
MICROCAPITAL BRIEF: Vancity Loans $740k to Brighter Investment for Education Microfinance in Ghana
Vancouver City Savings Credit Union (Vancity) of Canada is lending CAD 1 million (USD 740,000) to Brighter Investment, a Canadian lender to university students in Ghana. Of the total, half of the funds were disbursed to Brighter Investment in April, and the remainder is scheduled to be distributed in September. Brighter Investment is using the cash to expand its funding of students,
MICROCAPITAL BRIEF: World Bank’s ID4D Launches 2nd “Mission Billion Challenge,” Offering $150k in Prizes for Innovation in Identification, Digital Inclusion for Vulnerable Groups
The World Bank’s Identification for Development (ID4D) initiative recently announced the launch of the second Mission Billion Challenge, an initiative offering cash prizes totalling USD 150,000 for ideas that increase vulnerable groups’ access to digital identification systems. The target groups include women and girls as well as informal workers whose income has been reduced by COVID-19. Part of the motivation for the program is
MICROCAPITAL BRIEF: Central Bank of Solomon Islands, IFC Developing Comprehensive Credit Reporting System to Boost Financial Inclusion of Individuals, MSMEs
The International Finance Corporation (IFC), a member of the World Bank Group, recently signed an agreement with the Central Bank of Solomon Islands (CBSI) that is intended to improve the country’s “credit reporting legal framework,” promote financial inclusion and protect the credit reputations of borrowers during the COVID-19 pandemic. As part of the effort, CBSI will begin supervising the Solomon Islands Credit & Data Bureau (CDB), and IFC will assist the credit bureau in implementing
MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Invests $720k in Premier Credit, Refinancing Microfinance Loans in Kenya
Premier Credit Limited, a member of the Kenya-based Premier Group of microfinance institutions (MFIs), recently sold a package of microloan receivables for USD 720,000 to IIV Mikrofinanzfonds, a fund managed by Germany-based Invest in Visions (IIV). The MFI will use the cash to continue its support of micro- and small-scale entrepreneurs in Kenya. Other units of the Premier Group operate
MICROCAPITAL BRIEF: Proximity Finance Raises $14m in Equity from Finnfund, Nordic Microfinance Initiative, Proparco to Support Farmers in Myanmar
Proximity Finance, a unit of Myanmar-focused social enterprise Proximity Designs, recently agreed to a package of equity investments totaling USD 14 million in equal shares from three European institutional investors, Proparco (Promotion et Participation pour la Coopération Économique), the Nordic Microfinance Initiative (NMI) and Finnfund. The deal, which is pending regulatory approval, would support Proximity Finance’s services to small-scale, rural farmers in Myanmar, including plans to disburse 1.5 million loans within four years and expand
MICROCAPITAL BRIEF: Development Bank of the Philippines Dropping Plans for New Rural Branches in Favor of Mobile Money, Partnerships with Rural Banks
The Development Bank of the Philippines (DBP), whose board is appointed by the President of the Philippines, reports it is “re-assessing plans for further branch expansion in the mid-term.” Instead, DBP President Emmanuel G Herbosa explains that the bank “views its partnerships with fintech [financial technology] firms, NBFIs [non-bank financial institutions] and potential alliances with progressive rural banks as a means to bridge the so-called ‘last mile’ in
MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Reports Losses Under 3%; Invests $3.4m Refinancing Microfinance Institutions in Mexico, Tajikistan
Microfinance institutions in Mexico and Tajikistan recently sold packages of non-securitized loan claims for MXN 61.3 million (USD 2.66 million) and USD 750,000 and to IIV Mikrofinanzfonds, a fund managed by Germany-based Invest in Visions (IIV). The names of the microlenders have not released.
During the first four months of 2020, the two share classes of IIV Mikrofinanzfonds generated losses of 2.7 percent to 2.9 percent. This
MICROCAPITAL BRIEF: Agence Française de Développement (AFD) Loans $13.6m to NamPost for Microfinance Lending to Pensioners in Namibia
Agence Française de Développement (AFD), the overseas development agency of the French government, recently issued a concessional loan of NAD 235 million (USD 13.6 million) to NamPost, Namibia’s postal service, to increase its
MICROFINANCE EVENT: The Economic Impact of COVID-19: Results of a Global Survey of Microfinance Customers; July 16, 2020; Webinar Hosted by FINCA
This online event will showcase the results of a survey of 5,000 microborrowers in Africa, Eurasia and Latin America regarding the “economic impacts of COVID-19” on their livelihoods. Two representatives of FINCA International will open the webinar, Scott Graham, the Director of Customer Research, and Anahit Tevosyan, the
MICROFINANCE PAPER WRAP-UP: “Financial Literacy for Migrants: Mapping and Needs Assessment,” by Heghine Manasayan et al, from CRRC-Armenia
The authors of this paper seek to understand the needs for financial education among three groups of migrants in Armenia: (1) people who moved to Armenia or within the country for work, including workers’ family members; (2) official refugees to Armenia and those moving to the country for similar reasons; and (3) Armenian citizens who migrated to another country but then voluntarily returned or were deported back to Armenia. The methodologies were group discussion with migrants and the review of government data, such as
MICROCAPITAL BRIEF: Paytm of India Expands Retailer Network Accepting Digital Payments, Quintuples Consumer Credit Limit in Response to COVID-19 Pandemic
Paytm, an Indian digital payment firm, recently expanded the network of locations that participates in its payment system, which is based on purchasers scanning QR codes with their mobile phones, as well as its service Postpaid, which allows users to delay paying for these purchases by one month. Paytm’s expansion focused on neighborhood shops known as kiranas, which sell groceries and home essentials, and other
MICROCAPITAL BRIEF: Planet42, Financier of Used Vehicles for Unbanked in South Africa, Raises $2.6m in Equity
Planet42, a lender in South Africa formerly named CarGet, recently raised EUR 2.3 million (USD 2.6 million) in equity to expand its “rent-to-buy” service for used cars in South Africa. Neither the names of the investors – a mix of private and institutional entities – nor the sizes of their stakes have been released.
Planet42 serves “the financially excluded…people ignored by banks…due to overly strict lending criteria.” The firm manages risk through “an automated scoring algorithm and securing its assets [via] title deed, tracking technology [and] comprehensive and mechanical insurance.” Clients submit a monthly rental payment and are offered a buy-out price that declines over five years to