Two firms based in Hong Kong, alternative investor Pacific Alliance Group (PAG) and China-focused Primavera Capital Group, led a recent Series C funding round
Category: Deals
MICROCAPITAL BRIEF: EBRD Lending Local Currency Worth $20m to OTP Leasing of the Ukraine
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it has provided a loan
MICROCAPITAL BRIEF: Indonesian Online Lender UangTeman Raises $12m in Equity Funding for Consumer Loans, Research and Development
UangTeman, an Indonesian firm offering online loans of up to USD 350, recently announced it has secured USD 12 million in Series A funding from
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Lends $840k to Mali’s Réseau de Micro-institutions de Croissance de Revenus (RMCR), Part for Microinsurance
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions and social businesses, recently informed MicroCapital that it has committed to extending two loans denominated in CFA francs to Réseau de Micro-institutions de Croissance de Revenus (RMCR), a savings and credit union in Mali.
MICROCAPITAL BRIEF: PFIP Giving $450k to Solomon Islands’ Government to Digitize Tax Payments
The Pacific Financial Inclusion Program, a Fiji-based initiative of the UN that works to extend financial services to unbanked Pacific Islanders, recently granted USD 450,000 to the Solomon Islands’ Inland Revenue Division (IRD) with the goal of increasing the availability of electronic payment channels for taxes paid by “123,800 wage and salary employees, 200 corporate taxpayers and 3,684 small businesses.”
MICROCAPITAL BRIEF: EBRD Lends $2m to Imon International of Tajikistan for Female-Run MSMEs
The European Bank for Reconstruction and Development (EBRD), a UK-based organization that invests in support of market-oriented economic policies, recently lent the local-currency equivalent of USD 2 million to Imon International, an institution that offers microcredit and deposit services with the aim of improving its clients’ standards of living as well as promoting economic development in Tajikistan.
MICROCAPITAL BRIEF: KMF and Bereke of Kazakhstan, Vasham of Indonesia Borrow $5.1m from Grameen Credit Agricole Microfinance Foundation
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services primarily to microfinance institutions, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 3.9 million to KazMicroFinance LLC (KMF) of Kazakhstan, the equivalent of USD 550,000 to Bereke of Kazakhstan, and the equivalent of USD 660,000 to Vasham of Indonesia.
MICROCAPITAL BRIEF: UBS Wealth Management Customers Investing $325m in The Rise Fund, Social Impact Private Equity Vehicle Managed by TPG
Union Bank of Switzerland (UBS) Wealth Management, a unit of Zurich-based UBS, recently announced that it has raised USD 325 million from its high-net-worth clientele to invest in The Rise Fund, a social impact private equity fund managed by the US-based Texas Pacific Group (TPG).
MICROCAPITAL BRIEF: Benin’s Government Hikes Microcredit Program Budget to $5m
The government of Benin recently increased the budget of its “Microcredit for Very Poor People” program to XOF 3 billion (USD 5.2 million) from XOF 1.2 billion (USD 2.2 million). The program serves people “ineligible for classical bank financing”
MICROCAPITAL BRIEF: Advans Cote d’Ivoire, Aga Khan’s PAMF-Mali Borrowing $3.8m from Grameen Credit Agricole Microfinance Foundation
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions and other social businesses, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 2.9 million to Advans Cote d’Ivoire and the equivalent of USD 890,000 to Premiere Agence de MicroFinance (PAMF) Mali.
MICROCAPITAL BRIEF: Morgan Stanley Raises $125m for PMF Integro Impact Investing Fund
US-based financial services firm Morgan Stanley has reported that it raised USD 125 million for its recently launched Private Markets Fund Integro Fund I, the firm’s first “global impact fund,” which will be managed by Alternative Investment Partners (AIP) Private Markets, Morgan Stanley’s private equity arm.
MICROCAPITAL BRIEF: Indian Microlender Arohan Sells 13% Equity Stake to Maj Invest for $15m; Aavishkaar, Tano Increase Holdings
Arohan Financial Services, an Indian non-banking finance company that offers microloans to women, recently raised INR 155 crore (USD 24.1 million) from Maj Invest, a Danish asset management firm; Tano Capital, a US-based asset management firm focusing on emerging markets; Aavishkaar Venture Management Services, a venture capital firm targeting underserved regions of India; and multiple individuals.
MICROCAPITAL BRIEF: Targeting Rural MSEs, EFSE Lends Local-currency Equivalent of $6m to Opportunity Bank Serbia
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced it will loan RSD 615 million (USD 6 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, “to support small businesses, especially in rural areas.”
MICROCAPITAL BRIEF: BIMAS of Kenya, AMZ of Zambia, PAIDEK of DR Congo Borrow $2m from Grameen Credit Agricole Microfinance Foundation
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 838,000 to Business Initiatives and Management Assistance Services (BIMAS) of Kenya, the equivalent of USD 582,000 to Agora Microfinance Zambia (AMZ), and the equivalent of USD 582,000 to Promotion et Appui aux Initiatives de Développement Economique du Kivu (PAIDEK) of the Democratic Republic of the Congo.
MICROCAPITAL BRIEF: EFSE Funding $2.3m in Microenterprise Loans in Bosnia and Herzegovina via Mi-Bospo, Half in Rural Areas
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced it will loan EUR 2 million (USD 2.3 million) to Microcredit Foundation Mi-Bospo, a non profit microfinance institution in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: India’s Disha Microfin Receives License to Operate Fincare Small Finance Bank
Disha Microfin, an Indian microfinance institution (MFI), recently received a license from the Reserve Bank of India (RBI) to open a “small finance bank” that it is launching under the name Fincare.
MICROCAPITAL BRIEF: Zimbabwe’s IPEC Creates Enabling Framework for Microinsurance
The Insurance and Pension Committee (IPEC) of Zimbabwe recently announced it has issued a regulatory framework for microinsurance products to be distributed through “microfinance institutions, mobile network operators, church organisations and burial societies.”
MICROCAPITAL BRIEF: Accion Microfinance Bank to Borrow $1.6m from Citibank Nigeria to Support 5k MSEs
Accion Microfinance Bank (Accion Nigeria), the Nigerian partner of US-based nonprofit Accion, recently announced it will borrow NGN 500 million (USD 1.58 million) from Citibank Nigeria, an arm of US-based financial services provider Citigroup, for on-lending to “support the development of approximately 5,000 micro and small enterprises in the country.”