Published by the Bill and Melinda Gates Foundation, July 2019, 24 pages, available at https://docs.gatesfoundation.org/Documents/WomensDigitalFinancialInclusioninAfrica_English.pdf
This report offers five ways in which G7 countries can contribute to making digital financial services more accessible to the 400 million individuals
The Bank of Ghana (BOG) recently revoked the licenses of 23 microfinance banks (MFBs) that became insolvent and remained so despite being given additional time to seek fresh capital from investors. The MFBs reportedly will be able to
India’s Ujjivan Small Finance Bank (SFB) recently filed paperwork with the Securities and Exchange Board of India in preparation for an initial public offering (IPO). Ujjivan SFB seeks to raise
Spandana Sphoorty Financial Limited, a microfinance institution (MFI) in India backed by Mumbai-based Kedaara Capital, held a three-day initial public offering (IPO) this month. It met its goal of raising INR 12 billion (USD 167 million) to augment its capital base and fund general operations.
Spandana shares debuted at INR 825 (USD 11.44) per share, a discount to their issue price of INR 856 (USD 11.94). At the end of the bidding, the IPO was subscribed by
ATEC Biodigesters International, an Australia-registered clean technology (cleantech) company that is active in Cambodia, recently accepted an unspecified amount of debt financing from US-based investor Beneficial Returns. ATEC plans to use the loan to launch a
The World Bank Group’s International Finance Corporation (IFC) recently announced it is lending GEL 100 million (USD 35 million) to the Bank of Georgia, a commercial bank owned by the UK-based Bank of Georgia Group, for on-lending to micro-, small and medium-sized enterprises (MSMEs). The Women Entrepreneurs Opportunity Facility, which is cosponsored by
NilePay PLC, an electronic financial services company in South Sudan, and the local member of the Zain Group, a Kuwait-based mobile telecommunications firm, are launching a licensed mobile money service in South Sudan. The NilePay service will allow customers to
By Jamie Anderson, Ramesh Karrupusamy, Paul Enrico Neumann, Howard Miller and Ram Tamara; published by CGAP; April 2019; 12 pages; available at https://www.cgap.org/sites/default/files/publications/2019_04_Focus_Note_Smallholder_Households_Distinct_Segments_Different_Needs.pdf
To ensure that financial service providers (FSPs) are able to: (a) identify opportunities to serve smallholder households; (b) provide services that are tailored to smallholders’ needs;
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently approved a loan of USD 25 million to support the operations of Kashf Foundation, a provider of microfinance services in Pakistan. The loan is intended to help expand access to
The Indian government reportedly is planning a debt waiver program for “small distressed borrowers” under the country’s insolvency and bankruptcy code. While the criteria under which a borrower would qualify for the program remain under discussion, potential parameters include
Germany-based Invest in Visions (IIV) recently loaned EUR 10 million (USD 11.1 million) to Eskhata Bank, a provider of microfinance and traditional financial services in Tajikistan, in an effort to stimulate economic development in the country, including in rural areas. The investment is one of a group of loans totaling
US-based investment bank Goldman, Sachs and Company recently announced the formation of an internal Sustainable Finance Group to provide clients with support on investing, financing, risk management and asset management as they relate to solving community and environmental challenges. John Goldstein, a co-founder of US-based sustainable investing firm Imprint Capital, which Goldman Sachs recently acquired, will
The African Center for Economic Transformation (ACET), a nonprofit think tank with offices in Ghana and the US, will be hosting approximately 40 stakeholders to discuss the financial inclusion of women and youth based on ACET’s key findings from a recent study in Guinea, Sierra Leone, and Zambia. Those unable to attend in person may participate via
The International Finance Corporation (IFC), a member of the World Bank Group, recently partnered with two insurance companies in Cameroon to create agricultural index insurance products. These products offer payments to
The European Investment Bank (EIB), the long-term lending institution of the EU, recently pledged to loan a total of EUR 5 million (USD 5.6 million) to two related entities in the Dominican Republic in order to fund loans for renewable energy equipment and energy efficiency improvements. Fondo para el Desarollo (FONDESA), an NGO focused on educational finance, will borrow
Four financial regulators in India recently began work on Sahmati, a digital account aggregator (AA) platform that is to allow loan applicants to encrypt their financial data and transmit it to lenders. Sahmati users will be able to
Malaysia recently launched a National Strategy for Financial Literacy for the years 2019 through 2023. The strategy outlines the following priority areas:
Individuals as well as organizations from Arab countries are invited to apply for the Arab Financial Inclusion Innovation Prize (AFIIP), which includes a cash grant of up to USD 50,000, technical support for developing the idea, and the chance to secure additional funding of USD 50,000 through Village Capital, a venture capital firm based in the US city of Atlanta, Georgia. Winners also gain access to opportunities for