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
MICROCAPITAL BRIEF: Bababos of Indonesia to Expand Digital Platform for Manufacturing SMEs with $3m in Seed Funding
Bababos, an Indonesian raw material procurement startup, recently raised USD 3 million from Singapore-based East Ventures – the lead investor in the funding round – plus Indonesia-based Patamar Capital and US-based Accion Venture Lab. Bababos helps small and medium-sized enterprises (SMEs) in the
MICROFINANCE PAPER WRAP-UP: “Child Labor, Rainfall Shocks and Financial Inclusion: Evidence from Rural Households,” by Carolina Bernal and Razvan Vlaicu, Published by IDB
Ms Bernal and Dr Vlaicu combine rainfall data and household survey results to examine how rural Colombian families respond to income shocks produced by unexpected weather events. In particular, they investigate the “inter-temporal trade-off” that households face
MICROCAPITAL BRIEF: AfDB, Ingenosya Create Mada Business Linkage Online Portal to Boost SME Success in Madagascar
The multilateral African Development Bank (AfDB) recently introduced an online service called Mada Business Linkage to facilitate partnerships among companies in Madagascar, including to match firms with suppliers and subcontractors. The Madagascar-based technology company Ingenosya built the platform, which businesses can use for no
MICROFINANCE EVENT: Social Enterprise World Forum (SEWF23); October 11-12, 2023; Amsterdam, the Netherlands
The goal of this event is to champion the use of social enterprise as a catalyst for positive change worldwide. The topics to be discussed include: (1) The Role of Corporates in Social Enterprise Partnerships; and (2) Migration: Entrepreneurial Solutions for Better Lives and Livelihoods.
MICROCAPITAL BRIEF: Belgian Investment Company for Developing Companies (BIO) Names Joris Totté as CEO
The government-owned Belgian Investment Company for Developing Companies, also known as BIO, has announced that Joris Totté will be its new CEO. Mr Totté will succeed Luuk Zonneveld, who has held the title for 11 years and has taken on the role of Chair of the Association of European Development Finance Institutions (EDFI), a Brussels-based NGO
SPECIAL REPORT: Fortune Credit of Kenya, Fundación Génesis Empresarial of Guatemala, Yikri of Burkina Faso Are Finalists for European Microfinance Award 2023 on Inclusive Finance for Food Security & Nutrition
From the European Microfinance Platform (e-MFP): On September 19 and September 20, 2023, the Selection Committee for the European Microfinance Award (EMA) 2023 on “Inclusive Finance for Food Security & Nutrition” selected the three finalists that will go on to compete for the prize of EUR 100,000 (USD 105,000): Fortune Credit Limited from Kenya, Fundación Génesis Empresarial from Guatemala and Yikri from Burkina Faso.
The choice of topic for the EMA2023 comes at a
MICROCAPITAL BRIEF: IDB Invest, Sura Investments Channeling $25m in Loans to SMEs, Mid-market Firms in Colombia
Colombia’s Sura Investments recently raised COP 100 billion (USD 25 million) for its Sura Private Debt Fund from IDB Invest, a member of the Inter-American Development Bank (IDB) Group. The fund was launched in 2020 with an initial volume of COP 38 billion (USD 9.5 million). The goal is to provide local-currency funding on longer terms than are otherwise available to small and medium-sized enterprises (SMEs)
MICROCAPITAL BRIEF: Money Transfer Firms Suspend Fees for Payments to Libya, Morocco in Response to Disasters
In order to support recovery from the earthquake that damaged many parts of Morocco on September 8 and the flooding that began in Libya on September 11, several money-transfer firms are offering free international transfers to people affected by the disasters.
UAE-based e& Money, the
MICROFINANCE EVENT: Global Development Conference on Biodiversity and Sustainable Development; October 31 – November 1, 2023; Quito, Ecuador
Sessions at this event will cover topics such as aligning government policies with environmental science; supporting female entrepreneurs; how biodiversity impacts economies; and understanding the connections among climate change, poverty, and gender inequality.
MICROFINANCE EVENT: Sa-Dhan National Conference on Inclusive Growth; November 8-9, 2023; New Delhi, India
Sa-Dhan’s 18th annual conference will focus on alleviating poverty through financial inclusion and associated services, including: (1) Microinsurance; (2) Micropensions; (3) Health; (4) Water and Sanitation; (5) Clean Energy and Climate Change; (6) Digitization;
MICROCAPITAL BRIEF: Vanuatu Launches Vanklia System to Automate Large, Small Payments
The Reserve Bank of Vanuatu recently launched a digital payment platform called Vanklia that allows automated clearing house (ACH) transfers as well as real-time gross settlements. The ACH system is designed for lower-value batch payments such as salaries and retail payments, while the
MICROCAPITAL BRIEF: LOLC Buys 28% Equity Stake in Unguka Bank, Provider of Microfinance in Rwanda, from Incofin
Lanka Orix Leasing Company (LOLC) Holdings, a Sri Lankan unit of the Japanese conglomerate Orix, recently paid an undisclosed sum to Belgium’s Incofin Investment Management to acquire 28 percent of the shares of Rwanda’s Unguka Bank. Unguka provides deposit, lending and other services to individuals as well as micro-, small and medium-sized enterprises (MSMEs). The bank has 15 service locations in the capital and three provinces. It serves 1,700 clients with total assets of USD 29 million. Unguka received its license from the National Bank of Rwanda in 2005.
Geert Peetermans, Co-CEO of Incofin commented: “From the time we
MICROCAPITAL BRIEF: BlueOrchard Sustainable Assets Fund (BOSAF) Raises $15m for Infrastructure Lending
The Swiss investment manager BlueOrchard recently raised an additional USD 14.6 million from undisclosed investors for its BlueOrchard Sustainable Assets Fund (BOSAF), an infrastructure debt fund active in “growth markets.” Among BOSAF’s outstanding placements are:
MICROFINANCE EVENT: Sanabel’s 16th Annual Conference; November 21-22, 2023; Dead Sea, Jordan
This event is centered on the effects of global trends on microfinance in Arab countries. Participants will discuss and build strategies on topics such as making microfinance less harmful to the environment, improving risk management, and expanding services to farmers as well as
MICROCAPITAL BRIEF: Okra Solar of Nigeria Raises Equity, Debt Totaling $12m to Expand Mesh Grids in Africa, Americas, Asia
Nigeria-based Okra Solar, whose products serve 14,000 people in Cambodia, Haiti, Nigeria, and the Philippines, recently raised USD 8 million in equity from five investors. The investment package is led by US-based At One Ventures and includes USD 1.5 million from
MICROCAPITAL BRIEF: Stanbic Bank Uganda, IFAD Seek to Reduce Costs of Remittances via FlexiPay E-wallet, Encourage Adoption via SACCOs
Kampala-based Stanbic Bank Uganda and the UN International Fund for Agricultural Development (IFAD) have announced a partnership with the goal of reducing the cost of remittances to Uganda from other countries. In particular, the aim is to
MICROFINANCE EVENT: Sankalp Global Summit; October 19, 2023; Mumbai, India
The Sankalp Forum’s 15th Global Summit is themed “The Great Transition: Financing Climate Action for the Global South.” The program will focus on the promotion of: (1) Micro-, small and medium-sized enterprises (MSMEs) seeking to reduce human impacts on the environment; (2) Switching to renewable – and affordable – energy sources; (3) Protecting biodiversity on land and in water;