The tenth edition of the Africa Financial Services Investment Conference (AFSIC) will promote investing in the continent with presentations on trends in environmental protection and sectors such as agriculture and financial technology (fintech). In addition to country-specific investment and networking meetings, the agenda includes sessions titled: (1) Banking in Africa – for
Tag: Africa
MICROCAPITAL BRIEF: FSD Africa Issues Convertible Loan of $1.2m to Africa Climate Ventures (ACV) Fund to Reduce Human Impacts on Environment
Africa Climate Ventures (ACV), a Rwanda-based venture fund that invests in “green” companies across Africa, recently borrowed EUR 1 million (USD 1.1 million) in the form of a convertible loan from Financial Sector Deepening (FSD) Africa Investments, an affiliate of the Kenya-based NGO FSD Africa. FSD Africa Investments is supporting the loan with
MICROCAPITAL BRIEF: Seedstars Accepting Applications from Fintechs Offering “Financial Innovations for Women Affected by Migration” Through July 30
Seedstars, a Switzerland-based investment and education firm, is accepting applications from financial technology (fintech) startups looking to scale up their services to women in Africa and Asia who have migrated from their homes or whose family members have done so. Seedstars is offering this support through its Financial Innovations for Women Affected by Migration (FIWAM) programme, which includes
MICROCAPITAL BRIEF: Bankingly, Woodcore Partner to Help FSPs in Africa to Offer Digital Financial Services
Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add
MICROFINANCE PAPER WRAP-UP: “Worth Your Weight: Experimental Evidence on the Benefits of Obesity in Low-income Countries,” by Elise Macchi
This paper examines how the perception of obesity as a symbol of wealth can yield financial benefits to overweight people in southern Uganda. The author applied computer software to photos of 34 test subjects to create
MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
Norway’s Spenn Technology recently expanded its partnership with the Rwandan unit of Kenya’s Investments & Mortgages (I&M) Bank to allow users of the Spenn mobile application to send money to any financial services provider in Rwanda, including banks and competing mobile money services. The app’s other features include
MICROFINANCE PAPER WRAP-UP: “Determinants of Choice of Credit Source Among Clients of Microfinance Systems in the Upper West Region of Ghana,” by Paul Bata Domanban et al
The authors of this article examined which groups of people in northwestern Ghana were more and less likely to borrow money from microfinance institutions (MFIs). The authors conducted
MICROCAPITAL BRIEF: Access Bank Botswana Borrows $20m from OPEC Fund for MSMEs, 30% Earmarked for Women
Access Bank Botswana, a subsidiary of the Nigeria-based Access Bank Group, recently agreed to borrow USD 20 million from the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development to on-lend to micro-, small and medium-sized enterprises (MSMEs), with USD 6 million of the total
MICROCAPITAL BRIEF: TASC Borrows $3.5m from Spark+ Africa to Fund 90k Cookstoves, Reduce Carbon Emissions in Rural Zambia
Spark+ Africa Fund, a partnership of Switzerland-based Enabling Qapital and the Dutch NGO Stichting Modern Cooking (SMC), recently lent USD 3.5 million to The African Stove Company (TASC), which is based in Jersey, to sell 90,000 cookstoves in rural Zambia. Spark+ Africa raised the funds from the sale of “several million tons
MICROFINANCE EVENT: Africa Impact Summit; July 13-14, 2023; Cape Town, South Africa
With a focus on impact investing, this event will explore how to build markets in Africa as well as pipeline opportunities and challenges. The agenda includes sessions such as: (1) Investing in SMEs [Small and Medium-sized Enterprises] and Start-ups; (2) Systems and Design Thinking for
MICROCAPITAL BRIEF: Credit Bank, FSD Kenya Engaging SACCOs in Effort to Reduce Remittance Costs for Rural Kenyans
The UN’s International Fund for Agricultural Development (IFAD) recently announced a pair of programs that will operate in Kenya under the EU’s Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa). In particular, IFAD will fund
MICROCAPITAL BRIEF: KEPFIC Member Pension Funds Invest $61m in Acorn Holdings, Kenya Mortgage Refinance Company (KMRC) to Boost Affordable Housing
Kenya’s Acorn Holdings Africa and the Kenya Mortgage Refinance Company (KMRC) recently won investments from members of the Kenya Pension Funds Investment Consortium (KEPFIC), a group of funds that collaborate to invest in alternative assets. In particular, KEPFIC pension funds placed
MICROFINANCE EVENT: ANDE Annual Conference; September 12-14, 2023; Accra, Ghana
This event will observe the “half-way point” towards the 2030 target of achieving the 17 Sustainable Development Goals (SDGs) of the United Nations. It is themed “Accelerating Action: Small Business Solutions and the SDGs,” and is to focus on cataloging the progress and ongoing needs of small and
MICROFINANCE EVENT: Africa Fintech Summit (AFTS); November 2-3, 2023; Lusaka, Zambia
Twice a year, this event convenes to promote collaboration on entrepreneurship as well as issues and opportunities regarding financial technology (fintech) in Africa. Following a pre-event dinner on November 1, the first day will include a
MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Microfinance Institution Baobab Senegal, Retains Holding in Parent Company
Abler Nordic, a partnership of public and private investors based in Denmark and Norway, recently sold its stake in Baobab Senegal for an undisclosed price to the latter’s parent company, Baobab Group, which operates microfinance institutions (MFIs) in Africa and China. Abler, known at the time as the Nordic Microfinance Initiative, bought the stake in 2012. Abler continues to hold a stake in Baobab Group.
“As we hand the baton on, we are very pleased with how the company has grown, the impressive social results they have achieved, and
MICROCAPITAL BRIEF: M-Kopa Raises $250m to Expand Financing of Mobile Phones, Solar Equipment in Africa
M-Kopa, a Kenya-based company serving 3 million customers in four African countries, recently announced that it has raised approximately USD 250 million in fresh funds to expand its facilitation of financial and digital inclusion. In particular, the firm finances devices that it sells, such as
MICROCAPITAL BRIEF: Network International Unveils “Networkpay” Tools for SMEs in Egypt to Accept Digital Payments
UAE-based Network International recently rolled out its “networkpay” brand to bring its “direct-to-merchant” payment systems to Egypt. The service menu includes tools allowing retailers to accept point-of-service and
MICROFINANCE EVENT: Unlocking Solar Capital (USC) Africa; May 31 – June 1, 2023; Kampala, Uganda
The fifth iteration of this event will promote partnerships between investors and project developers to work toward universal energy access. The event will include sessions such as: (1) Integrated Energy Planning & Smart Subsidies to Achieve