Fintex Africa will cover financial technology (fintech) innovations in Africa, with representatives from over 300 companies and more than 20 countries. Vendors will exhibit developments in
MICROCAPITAL BRIEF: MercadoLibre, PayPal Linking Mercado Pago Payment System, PayPal Merchants to Expand Online Payment Options for 348m Customers, Particularly in Brazil, Mexico
MercadoLibre, an Argentina-based platform for online sales and payments in 18 countries in Latin America and the Caribbean, recently entered into a cross-platform agreement with US-based payments firm PayPal. This will allow: (1) MercadoLibre sellers in Brazil and Mexico to accept money from 300 million PayPal customers in about 200 countries via MercadoLibre’s Mercado Pago service; (2) PayPal merchants to accept payments from 48 million Mercado Pago users in Brazil and Mexico; and
MICROFINANCE PAPER WRAP-UP: “Young People in Africa: Research Showing Opportunities for Financial Service Providers in Morocco, Nigeria and Senegal,” Published by World Savings Banks Institute
By Lise Paaskesen and Steven Peachey, published by the World Savings Banks Institute (WSBI), October 2019, 45 pages, available at
https://www.wsbi-esbg.org/SiteCollectionDocuments/0587_ESBG_BRO_CENTRALREPORT%20(004).pdf
The Scale2Save initiative of WSBI and the Mastercard Foundation is intended to contribute to improving financial services for people aged 15 to 30 years by examining their access to services, support structures and entrepreneurship opportunities in three rapidly growing African countries – Morocco, Nigeria and Senegal. Part of this work is to
MICROCAPITAL BRIEF: Invest in Visions’ IIV Mikrofinanzfonds Loans $11m to Microfinance Institution ASA International India
Mikrofinanzfonds, a fund managed by Germany’s Invest In Visions (IIV), recently loaned EUR 10 million (USD 11 million) to ASA International India, a microlending unit of ASA International. ASA India was founded in 2008 and serves
MICROFINANCE EVENT: FinovateEurope; February 11-13, 2020; Berlin, Germany
FinovateEurope is one of a series of conferences focusing on financial technology (fintech). The event includes demonstrations of technological advances and a keynote address
MICROCAPITAL BRIEF: UN’s PFIP, Catalpa Launching 6-month Pilot of Olgeta, Financial Education App for Young Women in Rural Solomon Islands
Catalpa, a development organization based in Timor-Leste, is partnering with the Pacific Financial Inclusion Program (PFIP), a UN effort based in Fiji, to pilot-test an app called Olgeta, which will provide education via mobile phones to young women in rural parts of the Solomon Islands. The service will cover topics “such as leadership, financial literacy and digital marketing,” including “how to budget, bank, and save…”. The six-month pilot will target the 120 people served by two
MICROCAPITAL BRIEF: IDB Invests $60m in Colombia for MSMEs to Boost Production Capacity, Energy Efficiency
Bancoldex, an institution of the Colombian government “focused on promoting business growth and foreign trade,” recently received approval to access USD 60 million of a potential credit line of USD 600 million from the Inter-American Development Bank (IDB), a US-based multilateral institution, for on-lending to retail lenders serving micro-, small and medium-sized enterprises. In particular, the funding will be directed to efforts to improve production capacity and energy efficiency. Bancoldex also will seek to support investments in
MICROCAPITAL BRIEF: US International Development Finance Corporation (DFC) Launches, Combining Efforts of OPIC, USAID’s DCA with Investment Cap of $60b to Focus on Low-income, Lower Middle-income Countries
The government-backed US International Development Finance Corporation (DFC) recently launched with goals to “help businesses expand into emerging markets, foster growth and improve lives in the developing world, while reinforcing US foreign policy and national security interests.” DFC is taking over the work of the Overseas Private Investment Corporation, which had similar goals and an investment cap of USD 29 billion, and the
MICROCAPITAL BRIEF: FMO Invests $7.5m in Acumen Resilient Agriculture Fund to Finance Early-stage Enterprises in Africa
The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently invested USD 7.5 million in the Acumen Resilient Agriculture Fund (ARAF), an entity
MICROFINANCE EVENT: Sanabel Conference: “Client Centricity: The Road to Greater Financial Inclusion;” POSTPONED; Hurghada, Egypt
THIS EVENT HAS BEEN POSTPONED. NEW DATES HAVE NOT BEEN ANNOUNCED. The event had been scheduled for March 10 – 11, 2020.
Themed “Client Centricity: The Road to Greater Financial Inclusion,” the 15th Sanabel conference will showcase the experiences of financial service providers (FSPs) as they strive to focus more on client needs. While the complete agenda has not yet been released, the session tracks include: (1) Human-Centered Design:
MICROCAPITAL BRIEF: Patria Credit Borrows $2.7m from EFSE to Increase Local-currency Financing in Rural Romania
Patria Credit, a non-banking financial institution in Romania, recently borrowed RON 12 million (USD 2.7 million) from the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle. Christoph Tiskens, the Board Chair of EFSE, said of
MICROCAPITAL BRIEF: EIB Lending Crédit Agricole Srbija $33m for Investing in SMEs, Mid-Caps in Serbia
The European Investment Bank (EIB), the long-term lending institution of the EU, recently gave the Serbian unit of the French banking group Crédit Agricole access to EUR 30 million (USD 33 million) of a EUR 50 million (USD 55 million) line of credit. Crédit Agricole Srbija agreed to
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $3.8m to Proximity, Chamroeun for Microfinance in Myanmar, Cambodia
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently issued the following loans: (1) MMK 3 billion (USD 2 million) to Proximity Designs, a US-registered NGO that operates exclusively in Myanmar; and (2) USD 1.8 million to Chamroeun of Cambodia to help
MICROCAPITAL BRIEF: XacBank of Mongolia Secures $30m Loan from Asian Development Bank to Increase Microfinance, SME Lending
XacBank, a Mongolia-based institution offering traditional banking and insurance services as well as microfinance, recently secured a loan of USD 30 million from the Asian Development Bank (ADB), a multilateral institution seeking to promote social and economic development on the continent. The loan proceeds are
MEDIA OF THE MONTH: Digital Exhibit – Exemplary Women Addressing Social, Economic, Environmental Challenges – “Little Big Movement” from BNP Paribas
In celebration of 30 years of supporting microlending, BNP Paribas has created an exhibit showcasing women who are making positive changes in their communities: https://group.bnpparibas/en/microfinance30years.
This is the first of a monthly series from MicroCapital on quality media that might not have fit into our usual news format. Enjoy!
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MICROCAPITAL BRIEF: LOLC Finance of Sri Lanka Borrows $10m from Sweden’s Swedfund for Microfinance, SME Lending
Swedfund International, a development finance institution owned by the Swedish government, recently issued a loan of USD 10 million to LOLC Finance PLC of Sri Lanka. LOLC Finance is a member of the LOLC Group, whose name derives
MICROCAPITAL BRIEF: 15 Mobile Money Firms Acquire Licenses from Central Bank of Nigeria
The governor of the Central Bank of Nigeria, Godwin Emefiele, reportedly has announced that, “We have so far provided 15 licenses to several mobile money operators who are working to increase access to finance using digital channels.” This is part of an effort to open 500,000
MICROCAPITAL BRIEF: Liberty Bank of Georgia Borrows $17m for SME Finance from EIB Under EU4Business Initiative
The European Investment Bank (EIB), the long-term lending institution of the EU, recently loaned EUR 15 million (USD 16.8 million) to Joint Stock Company Liberty Bank of Georgia. The loan is