by Elva Montelongo -

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

by Anaya Jhaveri -

MICROCAPITAL BRIEF: Elm of Saudi Arabia Partners with IrisGuard to Bring Biometric Identification to Government-to-person (G2P) Payments in Africa, Asia

IrisGuard, a UK-based payment processor that uses the iris of the human eye to identify recipients, recently partnered with Elm Company, an instrument of the Saudi Arabian government, to use biometric identification when distributing

by Rohit Dayanand -

MICROCAPITAL BRIEF: Axis Launches axisPay Mobile Money App for Small Businesses in Egypt

The Egypt-based firm axis recently launched its mobile banking app axisPay, after raising USD 8.25 million in seed funding in 2021. The app targets small enterprises and their employees, though a version for individual users is being tested. Among the app’s functions are to

by Vaughn Rajah -

MICROCAPITAL BRIEF: Futu Expanding Digital Investment, Financial Education Platform to Malaysia

The Hong Kong-based wealth management company Futu Holdings is adding Malaysia to the list of countries whose residents can access its investment platform Moomoo, following the firm’s local subsidiary receiving preliminary regulatory approval for the service. Moomoo allows

by Elva Montelongo -

MICROFINANCE EVENT: Africa Fintech Summit (AFTS); November 2-3, 2023; Lusaka, Zambia

Twice a year, this event convenes to promote collaboration on entrepreneurship as well as issues and opportunities regarding financial technology (fintech) in Africa. Following a pre-event dinner on November 1, the first day will include a

by Vaughn Rajah -

MICROFINANCE PAPER WRAP-UP: “Green Energy Finance and Gender Disparity: The Case of Mountain Areas in Bangladesh,” by Sakib Bin Amin et al, Published by Copenhagen Business School

The authors of this study conducted a household-level analysis to examine the relationships among electricity access, green finance and gender disparity in the Chittagong Hill Tracts (CHT) of Bangladesh. Although access to electricity can

by Renata Samadova -

MICROFINANCE EVENT: Unlocking Solar Capital (USC) Africa; May 31 – June 1, 2023; Kampala, Uganda

The fifth iteration of this event will promote partnerships between investors and project developers to work toward universal energy access. The event will include sessions such as: (1) Integrated Energy Planning & Smart Subsidies to Achieve

by Ben Barba -

MICROCAPITAL BRIEF: UNCDF, Bill & Melinda Gates Foundation Launch Mobile Money Program in Ethiopia

The UN Capital Development Fund (UNCDF) and the US-based Bill & Melinda Gates Foundation recently announced a two-year cash-in/cash-out (CICO) program intended to increase financial inclusion in Ethiopia via mobile money agents and other means. The program is to include: (1) training for 15 service providers in “digital money distribution aspects such as gender-intentional design and technology provider selection;” (2) a Digital

by Rohit Dayanand -

MICROCAPITAL BRIEF: DFIs Invest $109m in Horizon Capital IV to Support SMEs in Ukraine, Moldova

Six public-sector organizations recently invested in the second funding round of Horizon Capital IV with the goal of enabling the equity fund to supply more working capital to “fast-growing, technology-enabled small and medium-size businesses” in Ukraine and Moldova. The fund also seeks to

by Renata Samadova -

MICROFINANCE EVENT: Asia Pacific Microfinance Forum; October 17-18, 2023; Kuala Lumpur, Malaysia

This event, in its fourth edition, aims to facilitate networking among investors and retail financial institutions. With a focus on market trends, the forum will address topics such as: (1) Recent Developments in Responsible Inclusive Finance; (2) Strategies to Overcome

by Rohit Dayanand -

MICROCAPITAL BRIEF: UN, EU Supporting SMEs Involved in Fisheries in Cambodia via Capfish-Capture Program

Capfish-Capture, a project organized by the UN Industrial Development Organization (UNIDO), is giving technical and financial support to small and medium-sized enterprises (SMEs) in Cambodia’s fishing industry to promote compliance with international food safety standards, allow SMEs to upgrade their machinery, connect SMEs with microfinance and venture capital, and increase academic research into post-harvest food technology. As of 2023, 28

by Vaughn Rajah -

MICROCAPITAL BRIEF: Visa Everywhere Initiative 2023 Offering $500k for Fintech Innovation

US-based payment technology firm Visa and TechCrunch, a media company owned by US-based technology firm Yahoo, recently opened the Visa Everywhere Initiative 2023, a contest offering USD 500,000 in prizes to financial technology firms (fintechs) that “deliver innovative payment and commerce solutions.” Applicants apply based

by Renata Samadova -

MICROFINANCE EVENT: Responsible Finance Forum; July 5-7, 3023; Bengaluru, India

Themed “Shaping a Responsible Digital Finance Ecosystem,” the upcoming edition of this event – the first in-person since 2019 – will focus on client protection to help “low-income and vulnerable” people reduce risks as they use financial tools. Although the detailed agenda has not yet been finalized, it is expected to include topics such as: (1) Balancing Responsible Finance Between

by Rohit Dayanand -

MICROCAPITAL BRIEF: Baab Mobile Money App Combines Cryptocurrency, Traditional Financial Accounts

UK-based Babb Group recently launched its eponymous mobile money app, which offers money transfers as well as the option to store funds as “decentralized crypto, backed stable-coins, and regulated fiat money” and convert among these options. Babb’s Currency X is one such “stable coin,” which is

by Ben Barba -

MICROCAPITAL BRIEF: Lidya to Shift from Retail Lending to Providing Fintech Infrastructure

Lidya, a US-based financial technology (fintech) firm that has provided digital loans in Nigeria, the Czech Republic and Poland, recently announced it will shift its focus to providing technology infrastructure to financial institutions. Lidya’s credit platform helps lenders “originate, manage and collect loans,” including via the Collect tool, which is intended to

by Ben Barba -

MICROCAPITAL BRIEF: Credolab, Provenir Seek to Boost Financial Inclusion with Predictive Software

Two financial technology (fintech) companies, Singapore-based Credolab and US-based Provenir, recently formed a partnership intended to increase financial inclusion. Provenir, which provides a “unified risk decisioning solution” for lenders, will offer its clients the