Fonds pour l’inclusion Financière en République Démocratique du Congo (FPM) SA, a nonprofit organization based in the Democratic Republic of the Congo (DRC) that was formerly known as Fonds de Promotion de la Microfinance, recently received authorization to operate as a financial company from the Central Bank of the Congo, DRC’s central banking authority.
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MICROCAPITAL BRIEF: FairTrade Access Fund (FAF) Issues Trade Finance Loan Worth $931k to Ecookim of Cote D’Ivoire
FairTrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently announced that it has issued a trade finance loan of EUR 750,000 (USD 931,000) to Ecookim, a union of cooperatives based in Cote d’Ivoire, to support the purchase of cocoa beans from 3,700 local suppliers in Central and Western Cote d’Ivoire.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $15m to Eskhata Bank of Tajikistan to Fund Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it will loan the equivalent of USD 15 million to Eskhata Bank, a commercial bank in Tajikistan.
MICROCAPITAL BRIEF: African Development Bank Group (AfDB) Approves $5m Line Of Credit for AB Microfinance Bank Nigeria
AB Microfinance Bank Nigeria (ABN), a microfinance institution (MFI) offering financial services to micro-, small and medium-sized enterprises (MSMEs), recently acquired access to a Line of Credit (LOC) in the amount of USD 5 million, equivalent in NGN, from the African Development Bank (AfDB), a multilateral institution providing loans and grants to governments and private companies.
MICROCAPITAL BRIEF: Symbiotics Issues $30m in Bonds to MicroCred China; India’s Arohan, Grameen Koota, Annapura Microfinance
Symbiotics, a Switzerland-based investment company that focuses on emerging markets, has completed bond transactions worth a total of USD 30 million with MicroCred China, an affiliate of the France-based MicroCred and PlaNet Finance groups; Arohan Financial Services Private Ltd., an Indian financial services company; Grameen Financial Services Private Ltd., a Bangalore-based microfinance institution (MFI) also known as Grameen Koota; and Annapurna Microfinance Private Ltd., an MFI based in the Indian state of Odisha.
MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $4.5m in Equity from International Finance Corporation (IFC), Aavishkaar Goodwell, Lok Capital
Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), recently received an equity infusion totalling INR 270 million (USD 4.5 million) from three investors: INR 150 million (USD 2.5 million) from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and INR 62 million (USD 1 million) each from Aavishkaar Goodwell, a for-profit Indian-Dutch joint venture promoting economic development, and Lok Capital, a Mauritius-based venture fund focused on microfinance and other social businesses in India [1] [2].
MICROCAPITAL BRIEF: MicroVentures Invests $13.5m in Equity in Microfinance Institution Grameen Koota of India
Indian non-banking financial company Grameen Financial Services Private Limited, which is also known as Grameen Koota, reportedly has received an equity investment of USD 13.5 million from Italy-based private equity firm MicroVentures.
MICROCAPITAL BRIEF: Aavishkaar to Raise $75m for “Frontier Fund” to Invest in South, Southeast Asia
Aavishkaar, an Indian manager of impact-oriented venture capital investments, reportedly plans to raise USD 75 million for its newly launched Aavishkaar Frontier Fund, an international social venture capital fund that aims to place investments in 300 start-ups in various countries in South Asia and Southeast Asia including Bangladesh, Indonesia, Myanmar, Pakistan and Sri Lanka.
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: India-based Five Star Raises Equity Financing from Matrix to Expand Branch Network, Increase Lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
Five Star Business Credits (Five Star), an Indian non-bank financial company that lends to micro-, small and medium-sized enterprises (MSMEs) in the country, recently announced that it has raised an undisclosed sum in equity financing from Matrix Partners India, the Indian subsidiary of US-based private equity firm Matrix Partners.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Offers $5m Credit Line to FINCA for Lending in Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will extend a credit line of USD 5 million to FINCA Kyrgyzstan, a unit of US-based microfinance nonprofit FINCA International.
MICROCAPITAL BRIEF: Africa, Caribbean, Pacific Group of States and the European Union’s (ACP/EU) Microfinance Program Offers Scholarships for July Boulder Microfinance Training Through April 28, 2014
The microfinance program of the European Union and the 79-member African, Caribbean and Pacific (ACP) Group of States has announced that it is accepting applications for its last round of 46 scholarships for microfinance professionals from ACP member countries to attend the annual Italy-based Boulder Microfinance Training Program,
MICROFINANCE PUBLICATION ROUND-UP: Women and Mobile Financial Services in Uganda; Quantitative Poverty Scoring Methods; European Investment Bank’s Rural Impulse Fund II Symposium in Africa
“Research on Women and Usability of Mobile Financial Services in Uganda;” published by Grameen Foundation; February 2014; 40 pages; available at http://www.grameenfoundation.org/resource/use-mobile-financial-services-among-poor-women
This presentation gives an overview of the Uganda-specific results of a series of studies undertaken by the US-based nonprofit Grameen Foundation with the goal of understanding how mobile-phone usability, or lack thereof, impacts the ability of poor women to access mobile financial services in India, the Philippines and Uganda.
MICROFINANCE PUBLICATION ROUND-UP: Effectiveness of Microfinance in Cambodia; Scaling Up in Agriculture and Development; Mobile Savings in Ecuador
“AMK Cambodia – Have AMK loans helped its clients improve their overall wellbeing?”, published by Angkor Mikroheranhvatho Kampuchea (AMK); January 2014; 12 pages; available at https://www.incofin.com/sites/default/files/attachments/newsitems/Change%20Study_AMK_2014.pdf
This report explores the results of a five-year study of the effectiveness of Angkor Mikroheranhvatho Kampuchea (AMK), a Cambodian microfinance institution, in helping increase its clients’ livelihoods through microcredit services.
MICROCAPITAL BRIEF: Triodos Loans $9.6m to Microfinance Institutions Grameen Koota of India, Koperasi Mitra Dhuafa (Komida) of Indonesia
Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed local currency loans totaling the equivalent of USD 9.6 million to Grameen Financial Services Private Limited (Grameen Koota), a non-banking financial company (NBFC) in India, and Koperasi Mitra Dhuafa (Komida), an Indonesian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: Deutsche Bank Secures $75m for Microfinance Enhancement Facility for On-lending to Micro-, Small Enterprises
Deutsche Bank, a German financial services company, recently secured USD 75 million in financing from unspecified private investors for the Microfinance Enhancement Facility (MEF), a microfinance investment vehicle, for on-lending via retail financial institutions to micro- and small enterprises in middle and low-income countries.
MICROCAPITAL BRIEF: Oxus Democratic Republic of Congo Opens New Branch, Increases Total Capital to $2.7m
Oxus Democratic Republic of Congo (DRC), a microfinance institution (MFI) that opened in the Democratic Republic of Congo in May 2012, recently raised an unspecified amount of funds to bring its total capital to USD 2.7 million.