Reefy Microfinance Enterprise Services, an Egypt-based microfinance institution (MFI), recently agreed to accept a loan of EGP 200 million (USD 6.5 million) from the UK-based European Bank for Reconstruction and Development (EBRD). The loan is part of EBRD’s
Category: Youth
MICROCAPITAL BRIEF: Satya of India Borrowing $35m from FMO, Finnfund for Microfinance for Rural Women, Youth – Including to Enable Green Transition
Satya MicroCapital, an India-based microfinance institution (MFI), recently borrowed the local-currency equivalent of USD 25 million from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) and USD 10 million from Finnfund, a development finance institution controlled by the government of Finland. The funding is intended to
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 EVENT: Sankalp West Africa Summit; June 12-13, 2023; Accra, Ghana
This event will focus on mechanisms through which entrepreneurial partnerships in regions such as South Asia, Southeast Asia and Africa, can solve global issues. The organizers expect approximately 80 speakers and 300 delegates discussing topics such as: (1) Agriculture; (2) Climate Change and Clean Energy;
MICROFINANCE EVENT: European Microfinance Network (EMN) Annual Conference; June 14-16, 2023; Paris, France
Themed “Economy for the People,” the 20th annual iteration of this event will focus on financial inclusion and social entrepreneurship. The agenda will include topics such as: (1) crisis management for entrepreneurs; (2) the needs of
MICROCAPITAL BRIEF: IMBE Using Finbit Technology from L-IFT to Support Child Care Providers in South Africa
Low-income Financial Transformation (L-IFT), a Netherlands-based firm, recently entered into an agreement with South Africa’s Imbe Enterprise Incubator whereby Imbe will provide L-IFT’s Finbit financial tracking software to its clients. The goal is to reach all of Imbe’s clients, who are primarily Black women who operate creches – child care facilities – in low-income neighborhoods. Finbit helps its users
MICROFINANCE EVENT: Arab Savings & Financial Literacy Conference; October 9-11, 2023; Cairo, Egypt – NEW DATES
This event, which originally was set to begin on May 7, 2023, will focus on the importance of financial literacy and long-term savings in improving household financial stability. It offers in-person and remote access to sessions such as: (1) Reconciling the
MICROFINANCE PAPER WRAP-UP: “Assessing the State of Youth Financial Inclusion in Developing Contexts,” by Niclas Benni, Published by FAO
Youth in low- and middle-income countries often face significant challenges in accessing the financial services they need. Meanwhile, the lack of public data on youth financial inclusion makes it difficult for practitioners to assess and address the situation in a given context. Among the factors to consider when formulating a plan to increase youth financial inclusion are the
MICROFINANCE PAPER WRAP-UP: “Driving Financial Resilience Through Formal Savings Among the Low-Income Population,” by Laura Courbois et al, Published by World Savings and Retail Banking Institute
This paper explores the extent to which saving through the Scale2Save program allows customers to increase their financial resilience. Two NGOs, the Canada-based Mastercard Foundation and the Belgium-based World Savings and Retail Banking Institute, created
SPECIAL REPORT: Nurturing Young Entrepreneurs with Revenue-based Repayments, Accounting Apps, Bank Guarantees
In a conversation during the last day of European Microfinance Week, Daniel Buchbinder of Guatemala-based Alterna described his NGO’s fee-based support for young entrepreneurs. Upon Alterna’s founding in 2010, its goal was to help its clients’ businesses develop into more stable operations that could qualify for funding. The NGO had served 2,000 firms by 2015, but funders were not investing in many of Alterna’s clients. Hence the NGO launched Catalyzer, a fund that lends small enterprises USD 10,000 to USD 50,000 on a collateral-free basis. Terms range up to five years, and repayments start at 3 percent of revenue and range up to
MICROFINANCE EVENT: 10th Sankalp Africa Summit; March 1-2, 2023; Nairobi, Kenya
This event will focus on mechanisms through which entrepreneurial partnerships can solve global issues. The agenda offers time for one-on-one meetings plus 40 group sessions covering topics such as
SPECIAL REPORT: Inclusive Finance in Africa Amid the Current Food and Climate Crises, in Anticipation of SAM 2023 in West Africa
In anticipation of SAM 2023 (Semaine Africaine de la Microfinance 2023), its organisers convened a panel discussion on October 19 as part of Accion’s Financial Inclusion Week. The panel illustrates the commitment of SAM’s organisers to nurture ongoing dialogue on the issues faced by the inclusive finance sector. The objective was to share and question the strategies being used to address issues faced by the agricultural sector, which remains one of the least financed due to investors’ perception of it as high-risk.
Climate change coupled with social and political turmoil is negatively impacting agricultural value chains in particular and global food security in general. The conflict between Ukraine and Russia is lowering food security and agricultural production in many developing countries, as the warring nations are two of the largest exporters of key agricultural commodities such as wheat, corn, sunflower oil and fertiliser. The Horn of Africa could suffer the worst effects of the war because of its ongoing food crisis following three years of severe drought, the COVID-19 pandemic and protracted local conflicts. Market volatility and rises in energy costs, input costs, interest rates and perceived risk are expected to lead to higher costs of borrowing, credit crunches, and unmet working capital and liquidity needs.
Addressing these issues at the Financial Inclusion Week panel were:
– Jacques Afetor, Executive Director of Assilassimé Solidarité, a Togolese MFI supporting
MICROFINANCE PAPER WRAP-UP: “The Impact Radar,” Published by UN Environment Programme Finance Initiative
The authors of this report offer a taxonomy to help measure the positive and negative impacts of the products and services of financial institutions, with the aim of enabling these institutions to build a better understanding of various elements of sustainable development. The “impact radar” includes a range of “impact areas” and constituent
MICROFINANCE EVENT: Columbia University Social Enterprise Conference; October 14, 2022; New York, USA
Themed “Capital for Good,” this conference focuses on the role of capital in solving global issues. The program includes
MICROFINANCE EVENT: European Microfinance Week; November 16-18, 2022; Luxembourg
This annual event is organized with the goal of facilitating networking among various members of the inclusive finance sector. The event program – some of which can be accessed virtually – includes meetings of some
MICROFINANCE EVENT: MEDA Convention: Celebrating Entrepreneurship; November 2-6, 2022; Lancaster, Pennsylvania, USA
With the aim of advancing the success of entrepreneurs, this event offers plenary sessions such as: (1) Revolutionizing Investment in Sub-Saharan Africa: Bridging the Finance Gap for Women Entrepreneurs; and (2) Food Security: Addressing the Risks in Our Global Food Systems and What It Means for Entrepreneurs. On November 5, the MEDAx Pitch Competition offers prizes
MICROCAPITAL BRIEF: Silatech, Gojo Partner to Provide Digital Finance to Youth-led Enterprises in Cambodia, India, Sri Lanka
The Qatar-based social enterprise Silatech recently launched a three-year partnership with the Japanese microfinance investor Gojo & Company with the aim of supporting 90,000 youth in Cambodia, India and Sri Lanka with digital financial services to facilitate the founding and expansion of micro-, small and medium-sized enterprises (MSMEs). Among the strategies of the partnership is
MICROCAPITAL BRIEF: World Bank Providing $52m to Lesotho to Boost Financial Access, Resilience of MSMEs – Especially Women-, Youth-owned Enterprises
The World Bank recently issued a USD 45 million loan to the government of the Kingdom of Lesotho, supported by a USD 7.5 million grant from the World Bank’s Global Risk Financing Facility. The purpose of the project is to: (1) provide “business support services and financial products” to 500 micro-, small and medium-sized enterprises (MSMEs), of which half are to women-owned and a quarter are to be youth-owned; and