Licify, a Colombian company offering construction procurement and related digital financial services, recently secured an investment package totaling USD 3.4 million. The group of investors includes
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MICROFINANCE EVENT: International Social Innovation Research Conference (ISIRC); September 6-9, 2023; Guimarães, Portugal
The goal of the 15th International Social Innovation Research Conference (ISIRC) is “bringing together the social sciences, engineering and technology” to leverage “social innovation and social entrepreneurship” to address global problems. The 17 streams address areas such as health, education,
MICROFINANCE EVENT: Fintech Festival Thailand; September 26-28, 2023; Bangkok, Thailand
This conference will cover topics such as artificial intelligence, blockchain technology, cybersecurity, digital assets, insurance technology (insurtech), investing, payments, peer-to-peer (P2P) services and personal finance. The slate of speakers includes Chonladet Khemarattana, President of the Thai Fintech Association and CEO of investment advising firm Webull Thailand; Myrtle Anne Ramos, CEO of UAE-based blockchain
MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
Incofin, a Belgian investor in lower-income countries, has invested INR 350 million (USD 4.3 million) to take an equity stake of undisclosed size in Varashakti Housing Finance (VHF), a firm active in
MICROCAPITAL BRIEF: Akbank Selling $300m in Bonds to DFC, AIIB, IFC – Half to Support Women-owned Businesses in Turkiye
Turkiye’s Akbank recently raised USD 300 million through the issuance of subordinated bonds to three development finance institutions. Half of the fresh cash is from the US International Development Finance Corporation (DFC) for on-lending for business and consumer purposes to women in “underdeveloped cities” in the country. The remainder is
MICROFINANCE PAPER WRAP-UP: “Driving Digital Financial Services in Africa Through Merchant Acceptance of Digital Payments,” published by Alliance for Financial Inclusion (AFI)
This paper examines the growth and challenges of digital payment adoption by retailers in Africa, including “contactless payment (QR codes, tap to pay) [and] buy-now-pay-later” services. The authors note four main prerequisites for merchant adoption:
MICROFINANCE EVENT: AFSIC: Investing in Africa; October 9-10, 2023; London, UK
The tenth edition of the Africa Financial Services Investment Conference (AFSIC) will promote investing in the continent with presentations on trends in environmental protection and sectors such as agriculture and financial technology (fintech). In addition to country-specific investment and networking meetings, the agenda includes sessions titled: (1) Banking in Africa – for
MICROCAPITAL BRIEF: FSD Africa Issues Convertible Loan of $1.2m to Africa Climate Ventures (ACV) Fund to Reduce Human Impacts on Environment
Africa Climate Ventures (ACV), a Rwanda-based venture fund that invests in “green” companies across Africa, recently borrowed EUR 1 million (USD 1.1 million) in the form of a convertible loan from Financial Sector Deepening (FSD) Africa Investments, an affiliate of the Kenya-based NGO FSD Africa. FSD Africa Investments is supporting the loan with
MICROCAPITAL BRIEF: Seedstars Accepting Applications from Fintechs Offering “Financial Innovations for Women Affected by Migration” Through July 30
Seedstars, a Switzerland-based investment and education firm, is accepting applications from financial technology (fintech) startups looking to scale up their services to women in Africa and Asia who have migrated from their homes or whose family members have done so. Seedstars is offering this support through its Financial Innovations for Women Affected by Migration (FIWAM) programme, which includes
MICROCAPITAL BRIEF: Paywatch, Visa to Expand Early Access to Wages, Payment Services in Asia
Paywatch, a Malaysia-based provider of earlier access to salaries in East and Southeast Asia, recently entered an agreement with US-based financial technology firm Visa to expand its geographic range as well as the range of payment services it provides to people in Asia – particularly Southeast Asia – who otherwise
MICROCAPITAL BRIEF: Bankingly, Woodcore Partner to Help FSPs in Africa to Offer Digital Financial Services
Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add
MICROCAPITAL BRIEF: Tokyo Offering $900k to Asset Managers, Fintechs to Open “Green Finance” Office in Japan
Japan’s Tokyo Metropolitan Government is accepting applications for the Green
Finance Subsidy for Tokyo Market Entry, a financial and technical assistance initiative
intended to attract foreign green finance companies to Tokyo. The program is open to
MICROCAPITAL BRIEF: Mogo Kenya Borrowing $7m from Verdant Capital Hybrid Fund to Boost Vehicle Ownership
Mauritius-based Verdant Capital recently announced that it will lend USD 7 million from its Verdant Capital Hybrid Fund to Mogo Kenya, a subsidiary of Latvia-based Eleving Group, to fund two-, three- and four-wheeled vehicles – some powered by electricity – for self-employed taxi and delivery drivers. The loan is structured in two tranches,
MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
Norway’s Spenn Technology recently expanded its partnership with the Rwandan unit of Kenya’s Investments & Mortgages (I&M) Bank to allow users of the Spenn mobile application to send money to any financial services provider in Rwanda, including banks and competing mobile money services. The app’s other features include
MICROCAPITAL BRIEF: Oikocredit Lending $4.9m to Support MSMEs Led by Women in Paraguay Via Ueno App
Oikocredit, a cooperative investor based in the Netherlands, has agreed to loan EUR 4.5 million (USD 4.9 million) for five years to Paraguay-based Financiera Ueno, aiming to promote microenterprises as well
MICROCAPITAL BRIEF: FINCA Microfinance Jordan, JOHUD Partner to Fund Community Businesses
Two NGOs active in Jordan, the Jordanian Hashemite Fund for Human Development (JOHUD) and FINCA Microfinance Jordan, a unit of US-based FINCA Impact Finance, recently agreed to partner on their mutual goal of
MICROFINANCE EVENT: 2nd Annual Environmental Social Governance (ESG) Africa Conference; October 4-5, 2023; Sandton, South Africa
This conference offers opportunities to collaborate on incorporating environmental, social and corporate governance (ESG) goals into organizations’ operations. The themes are: (1) Investment and Financing; (2) Measurement and Reporting; (3) Governance, Leadership and Culture; and (4) Legal. The itinerary for Day One of the event includes
MICROCAPITAL BRIEF: Ualá App Offers Saving Account Paying 9% Interest in Mexico
Ualá, a financial technology (fintech) firm based in Argentina, recently unveiled a savings account in Mexico that promises a one-year yield of 9 percent. With the annualized inflation rate in Mexico at 6 percent during May,