ResponsAbility Investments AG, a Swiss-based investor in microfinance and other sectors, recently announced the disbursement of a loan of USD 4 million to Opportunity International Bank of Malawi Limited (Opportunity Malawi), a member of the US-based Opportunity International network.
Category: Deals
MICROCAPITAL BRIEF: India-based NeoGrowth Raises $1.7m from Aspada Investment Company
NeoGrowth Credit, an Indian non-bank financial company that makes working capital and inventory loans to small and medium-sized enterprises (SMEs) in the country, recently announced that it has raised INR 100 million (USD 1.7 million) from Aspada Investment Company, an Indian investor in early-stage businesses that target low-income consumers.
MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund
AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa.
MICROCAPITAL BRIEF: Bank of America Invests $10m in Calvert Foundation to Support Financial Access for Women Entrepreneurs in Low-, Middle-income Countries
Bank of America, a US-based financial services provider, is investing USD 10 million in Calvert Foundation, a US-based nonprofit organization specializing in social-impact investment, to provide loans to organizations that increase financial access for women entrepreneurs in Africa, Asia, Eastern Europe and Latin America [1].
MICROCAPITAL BRIEF: Incofin Investment Management’s Rural Impulse Fund (RIF) Acquires 15% Equity Stake in Financiera El Comercio (FIELCO) From Accion Gateway Fund
Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM), recently announced that it has acquired a 15.3-percent stake in Financiera El Comercio (FIELCO), a microfinance institution focused on rural and agricultural markets in Paraguay.
MICROCAPITAL BRIEF: Kenya Women’s Finance Trust (KWFT) Receives $16m in Equity Investments from Incofin’s Rural Impulse Fund II (RIF II), Norwegian Microfinance Initiative (NMI) Fund III, NMI Frontier Fund
Kenya Women’s Finance Trust (KWFT), a Kenyan microfinance institution (MFI) that was established in 1982, recently announced that it has received equity investments totaling KES 1.37 billion (USD 16 million) from three funds: a total of KES 692 million (USD 8 million) from the Norwegian Microfinance Initiative (NMI) Frontier Fund and NMI Fund III, with the remaining KES 692 million (USD 8 million) placed by the Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM).
MICROCAPITAL BRIEF: Buksh Foundation, Kiva Announce Partnership to Support Microentrepreneurs in Pakistan
The Buksh Foundation (BF), a nonprofit microfinance institution (MFI) in Pakistan, and Kiva Microfunds, a US-based nonprofit online fundraising portal for MFIs, have announced a partnership to support microentrepreneurs in an effort to achieve development sector goals and alleviate poverty in the country.
MICROCAPITAL BRIEF: US-based TriLinc Global Impact Fund Invests in Small, Medium-Sized Enterprises (SMEs) in Brazil, Chile, Indonesia, Peru
TriLinc Global Impact Fund (TriLinc), a US-based private investor in companies that it deems to contribute positively to socioeconomic development in emerging economies, recently disbursed a total of USD 5.7 million in loans through a series of investments in unspecified small and medium-sized enterprises (SMEs) in Brazil, Chile, Indonesia and Peru.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC), Citi to Share Risk on $550m Global Loan Facility, $220m Inclusive Growth Agreement
The Overseas Private Investment Corporation (OPIC), a development agency of the US government, reportedly has entered agreements with Citi, a US-based financial services corporation, to share credit risk for the financing of investments in an unspecified number of the 150 OPIC-eligible countries with a USD 550 million loan facility for general investments and a USD 220 million loan facility to support financial inclusion.
MICROCAPITAL BRIEF: Germany’s Kreditech Raises $15m in Debt from Kreos Capital for Lending in Eurasia, Latin America
Kreditech, a German technology company that uses an online platform to assess the creditworthiness of loan applicants, recently announced that it has raised USD 15 million in debt financing from UK-based venture capital firm Kreos Capital (Kreos).
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Create $30m Credit Line for Retail Lenders to Support Micro-, Small, Medium-Sized Enterprises (MSMEs) in the Dominican Republic
The Inter-American Development Bank (IDB), a US-based multilateral financial institution that seeks to support sustainable economic development in Latin America and the Caribbean, recently announced that it will create a USD 30 million credit fund that retail lenders in the Dominican Republic can access to expand financing deemed “medium- and long-term” to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: Western Union, Paga to Augment Mobile Money Transfer Services in Nigeria
The Western Union Company, a US-based financial services company, recently partnered with Paga, a Nigeria-based mobile payment platform, to launch a mobile money transfer service in Nigeria.
MICROCAPITAL BRIEF: Accel Invests $40m in Equity in UK-based WorldRemit, Provider of Remittances to 100 Countries
WorldRemit, a UK-based online money transfer service, recently announced that it has received an investment of USD 40 million from Accel Partners, a US-based venture capital firm, in exchange for an undisclosed stake in the company.
MICROCAPITAL BRIEF: Peru-based Financiera Edyficar’s Acquisition of 61% Stake in Mibanco Receives Regulatory Approval
Peru-based microlender Financiera Edyficar (Edyficar), an operating subsidiary of Peruvian holding company Creditcorp, has received regulatory approval from the Peruvian Superintendency of Banks, Insurance and Pension Funds, the financial sector regulator in the country, for its proposed USD 179 million acquisition of a 60.7-percent stake in Mibanco, a Peruvian microfinance institution (MFI) that is a subsidiary of nonprofit holding company Grupo Accion Comunitaria del Peru (ACP).
MICROCAPITAL BRIEF: Manappuram of India Acquires Milestone Home Finance
Manappuram Finance Limited, an India-based non-banking finance company, recently signed an agreement to acquire Milestone Home Finance Company, an organization licensed to provide housing finance in India, from Jaypee Hotels, an India-based hospitality company,
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $7m to Enda Inter-Arabe for On-Lending to Micro-, Small Enterprises (MSEs) in Tunisia
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is lending TND 11 million (USD 7 million) to Enda Inter-Arabe, a Tunisian financial services provider and arm of Senegal-based non-governmental organization Enda Third-World.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Lends $45m to FINCA Microfinance Holding to Increase Outreach, Range of Services
The Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, is lending USD 45 million to the Foundation for International Community Assistance (FINCA) Microfinance Holding (FMH), a for-profit investment vehicle controlled by US-based NGO FINCA International [1].
MICROCAPITAL BRIEF: MoneyGram, Vodafone Partner to Enable Global Mobile Money Transfers Via M-Pesa
Vodafone Group, a British multinational telecommunications company, has partnered with MoneyGram, a US-based money transfer company with outlets in 200 countries, to allow MoneyGram’s customers to transfer funds to account holders of M-Pesa, a mobile money service developed by Vodafone that operates in six countries in Asia and Africa.