The Saïd Business School at the UK’s Oxford University and the US-based NGO Women’s World Banking are conducting a program from April to August 2024 intended to improve financial inclusion by boosting the leadership skills of financial regulators. Senior banking and regulatory officials of all genders are invited to attend alongside a “high-potential woman leader from their institution.” Over the course of the program, the two will develop policies that promote financial inclusion for women.
Tag: Financial Inclusion
MICROFINANCE PAPER WRAP UP: “Women Agents for Financial Inclusion: Exploring the Benefits, Constraints and Potential Solutions,” by Emilio Hernandez et al, Published by CGAP
Based on data collected from projects in India, Ghana and Pakistan that aim to improve financial inclusion for rural women, the authors examine the interplay between gender dynamics and the employment of women as agents supplying in cash-in and cash-out (CICO) services. This includes the impact these agents can have on communities, the challenges faced by women in becoming and succeeding as agents, and possible solutions to these challenges.
While training to become CICO agents,
SPECIAL REPORT: Financial Inclusion of Forcibly Displaced Persons (FDPs), Host Communities Results in Competitive PAR Ratios #EMW2023
The Grameen Credit Agricole Foundation recently carried out a pilot project in Uganda engaging financial services providers (FSPs) in serving refugees and their host communities. The goal is to support FSPs in adapting their products to the needs of forcibly displaced persons (FDPs) – “adapting” because new products are not generally needed – and rolling them out to prove the business case for serving these populations. Despite early reluctance from FSPs, their portfolio-at-risk ratios turned out to be under 5 percent – sometimes better than their overall portfolios. As a result, two of the foundation’s FSP partners have
MICROCAPITAL BRIEF: UNI2 Microcrédito of Colombia Raises $3m in Debt from Triodos Microfinance Fund, Triodos Fair Share Fund
Netherlands-based Triodos Investment Management recently disbursed a total of USD 3 million from its Triodos Microfinance Fund and Triodos Fair Share Fund to UNI2 Microcrédito, a Colombian microfinance institution (MFI), to support the growth of the MFI’s loan portfolio. Established in 2014, UNI2 provides microcredit for purposes such as
MICROCAPITAL BRIEF: DAI’s MicroVest Loans $4m to Bayport Colombia, Payroll Lender to Public Sector Workers
US-based MicroVest, a unit of Development Alternatives Incorporated (DAI), recently lent USD 4 million to Bayport Colombia, a financial services provider seeking to “expand credit accessibility and financial empowerment” among public sector employees. This transaction marks MicroVest’s third investment in Bayport since 2016.
Established in 2007, Bayport Colombia lends to employees
MICROFINANCE PAPER WRAP-UP: “The Global State of Financial Inclusion and Consumer Protection 2022,” by Buddy Buruku et al, published by the World Bank Group
This update of similar reports published in 2013 and 2017 covers legal and regulatory issues related to financial inclusion and consumer protection across the world. The authors surveyed financial regulators and supervisors across 130 economies.
MICROCAPITAL BRIEF: Banco de Credito del Peru (BCP) Launches iO Banking App with Support from i2C
With the goal of encouraging digital banking and boosting financial inclusion, Banco de Credito del Peru (BCP) recently collaborated with US-based payment software company i2C Incorporated to launch the iO app, which is available on the App Store and Google Play. The app’s offerings include: (1) conventional and virtual credit cards branded by US-based Visa Incorporated;
MICROCAPITAL BRIEF: David Grimaud Named CEO of Palladium Group’s Bamboo Capital Partners
The Luxembourg-based fund manager Bamboo Capital Partners recently selected David Grimaud as its CEO, marking the departure of Jean-Philippe de Schrevel, the company’s founder. Mr Grimaud has a background in impact investing and asset management
MICROCAPITAL BRIEF: HugoBank, KT, Mashreq, Raqami Islamic, Telenor Microfinance Earn Regulatory Approval to Pilot Digital Banking Services in Pakistan
The State Bank of Pakistan (SBP) recently furnished five commercial banks with in-principle approval to set up digital banking platforms. Three of the five – HugoBank, KT Bank Pakistan and Raqami Islamic Digital Bank – have been established this year while the others – Mashreq Bank Pakistan and Telenor Microfinance Bank – have longer track records. These banks can now offer digital financial services on a limited basis, before final rollouts are approved by SBP.
MICROFINANCE PAPER WRAP-UP: “State of the Art of Green Inclusive Finance 2011-2019: Worldwide Status and Progress Over 10 Years,” by e-MFP Green Inclusive and Climate Smart Finance Action Group
The authors of this paper assess the evolution of the green inclusive finance sector from 2011 to 2019. This encompasses products offered by a range of types of financial services providers (FSPs), including climate insurance
MICROFINANCE PAPER WRAP-UP: “Climate Risk and Financial Inclusion: A Regulatory Perspective on Risks and Opportunities;” by Peter Knaack, Peter Zetterli
This paper analyzes how climate change may impact the stability of financial systems and – particularly – access to financial services for groups that often have difficulty with such access, including micro- and small enterprises (MSEs) as well as low-income households and those in rural areas. The authors emphasize three challenges:
MICROCAPITAL BRIEF: IsDB, La Poste Tunisienne to Replicate Digital Financial Services via Postal Service in Djibouti
Based on their success replicating the digital financial services of Tunisia-based postal service La Poste Tunisienne in Mauritania, the multilateral Islamic Development Bank (IsDB) and La Poste Tunisienne recently agreed to partner to expand the financial inclusion
MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
Incofin, a Belgian investor in lower-income countries, has invested INR 350 million (USD 4.3 million) to take an equity stake of undisclosed size in Varashakti Housing Finance (VHF), a firm active in
MICROCAPITAL BRIEF: EIB Lending $22m to Sahanala to Boost Sustainable Fisheries, Agricultural Value Chains, Mechanization of Farms in Madagascar
The EU’s European Investment Bank (EIB) recently agreed to loan EUR 20 million (USD 21.9 million) to Sahanala, a farmer-owned social enterprise in Madagascar, for a project to: (1) mechanise farms to increase agricultural yields; (2) develop enterprises that process grains, oils and animal feed for domestic sales; and
MICROCAPITAL BRIEF: Reefy Microfinance Borrows $6.5m from EBRD for Youth-led MSMEs in Egypt
Reefy Microfinance Enterprise Services, an Egypt-based microfinance institution (MFI), recently agreed to accept a loan of EGP 200 million (USD 6.5 million) from the UK-based European Bank for Reconstruction and Development (EBRD). The loan is part of EBRD’s
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
MICROFINANCE EVENT: 8th Annual Symposium of the Nigerian Microfinance Platform; June 20-21, 2023; Lagos, Nigeria
This event is meant to serve as a platform for collaboration and the exchange of knowledge in support of financial inclusion. The agenda includes case studies, research and commentary from
MICROCAPITAL BRIEF: Sanad Fund for MSME Raises $26m from ASN Bank, Calvert Impact to Boost Financial Inclusion, Resilience in MENA
The Luxembourg-domiciled Sanad Fund for MSME recently agreed to borrow EUR 15 million (USD 16.5 million) from Algemene Spaarbank voor Nederland (ASN) Bank, a retail banking member of the Netherlands’ de Volksbank, and USD 10 million from the US-based NGO Calvert Impact Capital. Sanad intends to use the fresh funds to facilitate