Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be investing equity of an unspecified amount in Microcred Microfinance Bank (MFB) Nigeria, a member of the France-based MicroCred Group [1].
Category: Deals
MICROCAPITAL BRIEF: Goodwell West Africa Invests Equity in Mainstreet Microfinance Bank of Nigeria
Goodwell West Africa, a private equity fund managed by Netherlands-based social investment company Goodwell Investments and Nigeria-based investment management and advisory firm Alitheia Capital, has announced that it will be making an equity investment of an unspecified amount in Mainstreet Microfinance Bank (MFB), a microfinance institution in Nigeria [1].
MICROCAPITAL BRIEF: Aavishkaar Goodwell, Asia Pragati Invest $3.4m in Swarna Pragati Housing Microfinance in India
Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, and Asia Pragati, an India-based non-banking financial company (NBFC) owned by Hong Kong-based Pacific Alliance Group (PAG), reportedly have invested a total of INR 210 million (USD 3.4 million) in Swarna Pragati Housing Microfinance, an Indian microfinance institution (MFI) that partners with local MFIs to provide housing loans in the country [1].
MICROCAPITAL BRIEF: World Bank’s International Development Association (IDA) Approves $300m Credit to Support “Housing Finance Project,” Housing Microfinance, in Nigeria
The International Development Association (IDA), the arm of US-based World Bank that provides interest-free credits and grants for programs in the poorest countries, has approved credit of USD 300 million to support Nigeria’s Housing Finance Project, which intends to provide access to long-term home financing for low-income people, including microentrepreneurs as well as those with higher incomes who are buying homes for the first time [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $20m to Bank Republic of Georgia to Support Lending to Micro-, Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle (MIV), recently agreed to grant a senior loan facility of USD 20 million to Bank Republic, a Georgian member of the France-based financial group Société Générale [1].
MICROCAPITAL BRIEF: Micro Housing Finance Corporation (MHFC) Raises $5.6m in Equity from Michael and Susan Dell Foundation, India Financial Inclusion Fund, Unilazer Ventures
The Micro Housing Finance Corporation (MHFC), an India-based finance company that provides housing loans of up to INR 500,000 (USD 8,040), recently announced that it has raised INR 35 million (USD 5.62 million) in equity.
MICROCAPITAL BRIEF: UK-Based Standard Chartered Bank Loans $1.8m to Asa Philippines Foundation
Standard Chartered Bank (SCB), a UK-based financial services company, reportedly has extended a loan of PHP 80 million (USD 1.8 million) to Asa Philippines Foundation (Asa), a Manila-based provider of loans, savings, insurance, business development training and academic scholarships for clients and their children in the Philippines.
MICROCAPITAL BRIEF: OPIC to Support Citi in Loaning up to $200m to Support Small Businesses in Africa, Asia, Eastern Europe, Latin America
Citigroup (Citi), a US-based financial services corporation, and the Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, reportedly have partnered to deliver USD 200 million to Citi’s local and multinational corporate and financial institution clients [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers Lending $23.5m to Russia’s Transcapitalbank for Residential Energy Efficiency
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, is considering financing a senior loan of RUB 750 million (USD 23.5 million) to Transcapitalbank (TCB), a Russia-based banking institution, for on-lending for residential energy-efficiency projects.
MICROCAPITAL BRIEF: Shell Foundation, GroFin to Provide $100m in Risk Capital, Business Support to Small, Medium-Sized Enterprises in Middle East, Africa
The Shell Foundation, a social investment initiative of Netherlands-based petroleum firm Royal Dutch Shell Private Limited Company, reportedly has partnered with GroFin, a South African small and medium-sized enterprise (SME) financier, to launch a program to provide USD 100 million in risk capital and unspecified business support to SMEs in the Middle East and Africa.
MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF)
The Indian government reportedly is awaiting the Parliament’s approval to spend an additional INR 54.3 billion (USD 859 million) for several institutions including an additional INR 10 billion (USD 159 million) for each of the following: Nirbhaya Fund, a fund supporting women’s safety in India; National Skill Development Corporation (NSDC), which is backed by the Indian Ministry of Finance and provides skill training programs to India’s workforce; and to establish a women’s bank in India.
MICROCAPITAL BRIEF: Central Bank of Liberia Loans $483k to Three Counties in Western Liberia to Promote Financial Inclusion
The Central Bank of Liberia (CBL), the country’s central bank, reportedly has granted loans totaling LRD 38 million (USD 483,000) to 106 financial institutions located in the Liberian counties of Bomi, Grand Cape Mount and Gbarpolu in an effort to “empower” rural businesses and increase the financial inclusion of rural people [1].
MICROCAPITAL BRIEF: Indian SKS Trust Advisors Buys 2.7% of SKS Microfinance for $2m, Increasing Stake to 12.6%
SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has purchased an additional 2.69 percent of the shares of SKS Microfinance, increasing its stake in the firm to 12.6 percent.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $500k to Microfinance Institution Tuba Rai Metin (TRM) of Timor-Leste
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently loaned USD 500,000 to Tuba Rai Metin (TRM), a microfinance institution that serves women and small businesses in Timor-Leste.
MICROCAPITAL BRIEF: European Fund for Southeast Europe to Loan $6m to Inecobank to Support Micro- and Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle (MIV), recently agreed to loan EUR 5 million (USD 6.65 million) to Inecobank, an Armenia-based microfinance bank.
MICROCAPITAL BRIEF: Blue Label Telecoms, MasterCard Partner to Provide Point-of-Sale Devices (POS) to Rural Shops in South Africa
Blue Label Telecoms Limited (Blue Label), a South Africa-based distributor of financial transaction services, and MasterCard, a US-based payments and technology company, are partnering to provide 22,000 small traders and rural shop owners in South Africa with point-of-sale (POS) devices that will allow businesses currently operating on a cash-only basis to accept card payments [2]. Blue Label set up POS terminals throughout South Africa, but the partnership with MasterCard will allow the distributor to reach more small- and medium-sized retailers and service providers.
MICROCAPITAL BRIEF: Microfinance CEO Working Group Hires Anne Hastings as Manager
The Microfinance CEO Working Group, which was launched by eight microfinance organizations with goals including the improvement of client outcomes, has hired Anne Hastings as the group’s manager [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $1m to Transcapital Financial Services (TFS) of Mongolia to Support Micro-, Small, Medium-sized Enterprises
The UK-based European Bank for Reconstruction and Development (EBRD) recently signed a deal with Mongolian microfinance institution (MFI) Transcapital Financial Services (TFS) to provide a local-currency loan of MNT 1.62 billion (USD 1 million) for on-lending to microenterprises throughout Mongolia.