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
Tag: Africa
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
MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
Symbiotics Investments recently issued a loan of USD 7.5 million to Tunisie Leasing and Factoring (TLF) “to further expand its renewable energy and energy-efficient machinery and equipment offerings” for small and medium-sized enterprises (SMEs) in Tunisia. Symbiotics sourced the funding
MICROCAPITAL BRIEF: UNCDF, Bill & Melinda Gates Foundation Launch Mobile Money Program in Ethiopia
The UN Capital Development Fund (UNCDF) and the US-based Bill & Melinda Gates Foundation recently announced a two-year cash-in/cash-out (CICO) program intended to increase financial inclusion in Ethiopia via mobile money agents and other means. The program is to include: (1) training for 15 service providers in “digital money distribution aspects such as gender-intentional design and technology provider selection;” (2) a Digital
MICROFINANCE EVENT: Sankalp West Africa Summit; June 12-13, 2023; Accra, Ghana
This event will focus on mechanisms through which entrepreneurial partnerships in regions such as South Asia, Southeast Asia and Africa, can solve global issues. The organizers expect approximately 80 speakers and 300 delegates discussing topics such as: (1) Agriculture; (2) Climate Change and Clean Energy;
MICROFINANCE EVENT: Enlit Africa Forum on Energy, Power and Water; May 16-18, 2023; Cape Town, South Africa
The 2023 edition of this annual event will cover topics relating to energy and water in Africa, including how to invest in support of climate resilience and energy security while aligning short-term successes with host nations’ long-term visions. The opening-day keynote is titled
MICROFINANCE EVENT: Global Forum on Remittances, Investment and Development (GFRID); June 14-16, 2023; Nairobi, Kenya
The eighth edition of this biennial event will begin with two days of sessions with titles such as: (1) Remittances and Diaspora Investment as Tools for
MICROCAPITAL BRIEF: Equity for Tanzania, New Holland to Lease Tractors to Small-scale Farmers
The Italy-based equipment manufacturer New Holland recently collaborated with leasing company Equity for Tanzania (EFTA) to deliver 200 tractors to Tanzania in an effort to enhance mechanization among small-scale farmers, improve agricultural productivity and strengthen food security. The effort includes