Grameen Credit Agricole (GCA) Foundation, which has offices in France and Luxembourg, recently lent Oxus Tajikistan, one of three microfinance institution (MFI) affiliates of the France-based Oxus Development Network, local currency approximately equivalent to USD 760,000. The purpose is to
Tag: Rural Finance
MICROCAPITAL BRIEF: Mi-Bospo of Bosnia and Herzegovina Borrowing $2.2m from Grameen Credit Agricole Foundation for Microfinance Lending
Microcredit Foundation Mi-Bospo of Bosnia and Herzegovina recently agreed to borrow EUR 2 million (USD 2.2 million) from the Grameen Credit Agricole (GCA) Foundation, which has offices in France and Luxembourg. Mi-Bospo serves 26,000 clients, mostly women who live in rural areas. Its offerings include
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 PAPER WRAP-UP: “Microfinance, Over-indebtedness and Climate Adaptation: New Evidence from Rural Cambodia;” by Vincent Guermond et al; Published by Royal Holloway, University of London
The authors of this report argue that microfinance loans in Cambodia are leading to over-indebtedness amongst farmers, inhibiting their ability to adapt to climate change. The aggregate
MICROCAPITAL BRIEF: DFC to Support Mastercard Community Pass Program to Expand Access to Digital Services in Africa, India
The International Development Finance Corporation (DFC), which is backed by the US government, recently agreed to collaborate with the US-based financial technology firm Mastercard to strengthen Mastercard’s Community Pass program. Community Pass supports digital connectivity, smartphone penetration and identification systems in rural parts of India, Kenya, Mauritania, Mozambique, Tanzania and Uganda. DFC has agreed to invest up to USD 50 million in
MICROCAPITAL BRIEF: Sa-Dhan Members, NextGen Telesolutions to Serve Microfinance Customers in India via Feature Phones
Sa-Dhan, a network of 150 microfinance institutions (MFIs) in India, recently partnered with India’s NextGen Telesolutions to deliver digital financial services to a group that is often excluded from financial services: people who have a mobile phone, but not a smartphone.
Jiji Mammen, the CEO of Sa-Dhan reportedly said, “Digitisation in collections
MICROCAPITAL BRIEF: Microfinance Institution Fundeser of Nicaragua Borrows $1m from Aequitas, Marking Fund’s 1st Disbursement
Microfinanciera Fundeser, a microfinance institution serving rural Nicaragua, recently agreed to borrow USD 1 million from Aequitas, a fund launched by Desjardins International Development (DID), a unit of the Canadian cooperative Desjardins Group. This is the first loan disbursed by Aequitas, which was launched in 2021 with an investment of
MICROCAPITAL BRIEF: Zambia Seeking to Leverage Government Infrastructure for Private FSPs to Increase Rural Financial Inclusion
The Zambian government recently announced a plan to give financial services providers access to government buildings in rural areas to expand their service footprints. The authorities are looking to make financial access points available in every district of Zambia, where 18
MICROCAPITAL BRIEF: KOMIDA Secures $3m from Grameen Crédit Agricole Foundation for Microfinance for Women in Rural Indonesia
Koperasi Mitra Dhuafa (KOMIDA), a microfinance institution in Indonesia, recently borrowed local currency equivalent to EUR 3 million (USD 3 million) from the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation. The wholesale loan is to be used to
MICROCAPITAL BRIEF: Fintech Oko Secures $500k in Equity from Katapult, Individual Investors to Expand Agricultural Insurance to Cote d’Ivoire
Oko Finance, an agricultural insurance company active in Mali and Uganda, recently raised USD 500,000 in equity to expand its operations to Cote d’Ivoire. Founded in 2017 and based in Mali, Oko insures 15,000 farmers growing cotton, grains and coffee in partnership with local insurers, using
MICROCAPITAL BRIEF: Incofin Invests $6m in Peer-to-peer Lender Amartha from Inclusive Finance Fund, Microfinance Enhancement Facility (MEF) to Increase Group Lending to Female Entrepreneurs in Rural Indonesia
Amartha, a firm offering peer-to-peer lending and other services in Indonesia, recently gained access to USD 6 million in debt financing from the Belgian impact investing firm Incofin Investment Management in an attempt to boost access to financial services for women entrepreneurs in rural Indonesia. Two thirds of the total invested comes from the Microfinance Enhancement Facility (MEF), and the remainder is sourced from
MICROCAPITAL BRIEF: Agents for Impact Disburses $15m in Local Currency from IIV to MBK Ventura of Indonesia for Group Microfinance Loans for Women
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has disbursed a local-currency loan equivalent to USD 15 million in favor of Mitra Bisnis Keluarga (MBK) Ventura, a microlender in Indonesia, on behalf Invest in Visions (IIV). Established in 2006, MBK Ventura seeks to raise the living standards of low-income women in rural parts of the island of Java by providing access to group microloans for use as
MICROCAPITAL BRIEF: Triple Jump via ASN Microkredietpool, NMI, Incofin Place $9.4m in Equity in Light Microfinance for Financial Inclusion of Women in Rural India
Light Microfinance, a non-banking finance institution in India, recently raised equity from three European organizations: USD 4 million from Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership active in Africa and Asia; USD 3 million from ASN Microkredietpool, a microfinance fund managed by Netherlands-based Triple Jump; and EUR 2 million (USD 2.4 million) from
MICROFINANCE PAPER WRAP-UP: “Leadership as a Driver of Innovative Financial Services for Women;” by Jaclyn Berfond, Jennifer Iwueze; Published by WWB
This paper offers an analysis of data collected from alumni of the Women’s World Banking Leadership & Diversity for Innovation Program (LDIP), which engages “senior executives and high-potential women leaders to enable them to successfully serve low-income women” customers of financial service providers (FSPs). The authors focus on “the strategic business initiatives of LDIP participants” and
MICROCAPITAL BRIEF: CredAvenue Issues $45m Market-linked Debenture for Spandana Sphoorty to Boost Microfinance for Women in Rural India
CredAvenue, an India-based firm that connects lenders and borrowers, recently issued a market-linked debenture valued at INR 3.38 billion (USD 45 million) for Spandana Sphoorty Financial Limited, a non-banking financial company (NBFC) providing microloans in India. The participating investors comprise
MICROCAPITAL BRIEF: IDH Farmfit Fund Acquires Equity Stake in LendXS, Provider of Fintech for Microfinance Institutions Serving Smallholder Farmers
The IDH Farmfit Fund, which is facilitated by the Sustainable Trade Initiative, a Netherlands-based NGO known by its Dutch acronym IDH, recently acquired a 21-percent stake in LendXS, a Netherlands-based financial technology (fintech) platform for rural financial institutions. The pricing of the transaction remains