The Nepali microfinance institution Jeevan Bikas Laghubitta Bittiya Sanstha, Swiss insurance technology (insurtech) firm Pula and the UN Capital Development Fund (UNCDF) recently announced the completion of a pilot program combining technical assistance, subsidies and financial education to design and deploy an index-based insurance product for Nepali smallholder farmers. The program provided 15,000 smallholder farmers with insurance covering
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MICROFINANCE EVENT: FinovateFall; September 11-13, 2023; New York, NY, USA
This event offers two days with approximately 60 demos of new technologies followed by a day of conference sessions. There are also two levels of programming for startups – one for those still developing their business models and another for those ready to solicit funding – as well as a scholarship program for “underrepresented founders and startups tackling climate change, diversity, and financial inclusion.”
While this year’s agenda has not yet been released, session titles from last year’s conference included:
MICROCAPITAL BRIEF: AgCelerant, Bank of Africa, IFC to Support Rice Value Chains in Senegal with Access to Loans, Insurance, Tools, Inputs
AgCelerant, the agricultural technology (agritech) service of Mauritius-based Manobi Africa, recently partnered with the Senegalese unit of the Bank of Africa Group and the World Bank Group’s International Finance Corporation (IFC) on an effort to
MICROCAPITAL BRIEF: Tingo Mobile Launches Visa Card, TingoPay Super App, Business Portal in Africa
Tingo Mobile, a subsidiary of the US-based Tingo Group that previously focused on providing technology services to farmers in Africa, is now targeting business owners of all types with its recently announced Tingo Visa card, TingoPay app and TingoPay business portal. Through these products, which leverage the firm’s new partnership with US-based digital payments company
MICROCAPITAL BRIEF: Diamond Trust Bank (DTB) to Offer Fintechs in Kenya Access to Mastercard Payment Cards
Diamond Trust Bank (DTB), a Kenya-based institution serving four countries in Africa, recently expanded its partnership with US-based payment processing corporation Mastercard, which will enable
MICROCAPITAL BRIEF: IDB Lab Accepting Applications from Entrepreneurs in Latin America, Caribbean for WeXchange Women STEMpreneurs Competition, Partner of Google for Startups, Through March 31
WeXchange, a program of the Inter-American Development Bank (IDB) Group’s IDB Lab, recently started accepting applications from female entrepreneurs in Latin America and the Caribbean for the WeXchange Women STEMpreneurs Competition. The competition targets women whose businesses
MICROCAPITAL BRIEF: Svasti of India Raises $5m via Impact Investment Exchange (IIX) Women’s Livelihood Bond Issue
India’s Svasti Microfinance recently raised USD 5 million via a bond issue by the Impact Investment Exchange (IIX), a for-profit firm in Singapore, with the goal of catalyzing income generation for low-income women. The funding is provided
MICROCAPITAL BRIEF: Accion, Sturgeon Lead $6.4m Equity Round for Trukkr, Fintech Serving Trucking SMEs in Pakistan
Trukkr, a Pakistan-based financial technology (fintech) firm, recently obtained USD 6.4 million in a funding round led by two impact investors, US-based Accion Venture Lab and UK-based Sturgeon Capital, with placements also made by Al Zayani Venture Capital, Haitou Global and Peter Findley. The breakdown
MICROCAPITAL BRIEF: Al-Qutaibi Funding Renewable Energy Products, Climate Adaptation Strategies for SMEs, Farmers in Yemen in Collaboration with USAID
Yemen’s Al-Qutaibi Islamic Bank for Microfinance recently launched its Vendor Finance Department to support farms and other small and medium-sized enterprises (SMEs) in acquiring technology to produce renewable energy as well as “climate-smart” farming tools such as “solar-fed irrigation systems, greenhouses, and tunnel farming tools.” The bank did this with support from the
MICROCAPITAL BRIEF: Incofin Launches Water Access Acceleration Fund (W2AF) with $39m to Invest in Africa, Asia
The Belgium-based investment firm Incofin recently launched the Water Access Acceleration Fund (W2AF), a private equity fund with the objective of reaching 30 million people with access to safe drinking water, primarily in Africa and Asia. In particular
MICROCAPITAL BRIEF: FMO Lends $10m to Latin American Agriculture Development Corporation (LAAD) to Boost Green Investment
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently lent USD 10 million to the US-based Latin American Agriculture Development Corporation (LAAD), a funder of small and medium-sized enterprises (SMEs) that export agricultural products. The loan is intended to support
MICROCAPITAL BRIEF: Purpl Launches Remittances, Digital Wallets in Lebanon; Partners with Banque Libano-Française, Paysend
Purpl, a financial technology (fintech) firm with offices in Lebanon and UAE, recently launched its app, which allows customers in Lebanon to use their phones to make electronic payments and receive money from individuals abroad. Through the firm’s partnership with UK-based Paysend, Purpl customers can receive payments from
MICROCAPITAL BRIEF: Copal App to Help Parents, Youth in Egypt to Manage Finances via Mastercard Payment Network
Copal, an Egypt-based financial technology (fintech) firm, recently entered a partnership with US-based payment processing corporation Mastercard to launch an app that helps families in Egypt to make payments and otherwise manage their finances. Plans for the app include
MICROFINANCE PAPER WRAP-UP: “Microfinance, Over-indebtedness and Climate Adaptation: New Evidence from Rural Cambodia;” by Vincent Guermond et al; Published by Royal Holloway, University of London
The authors of this report argue that microfinance loans in Cambodia are leading to over-indebtedness amongst farmers, inhibiting their ability to adapt to climate change. The aggregate
MICROFINANCE EVENT: Financial Inclusion That Works for Women; March 2, 2023; London, UK
This event will review the 2022 edition of the European Microfinance Award, which was themed “Financial Inclusion that Works for Women.” Sam Mendelson of the Luxembourg-based European Microfinance Platform (e-MFP) will discuss
MICROCAPITAL BRIEF: Agricover Credit Raises $9m for Agricultural SMEs in Romania via Symbiotics Bond Issue
Agricover Credit IFN, a non-banking financial institution in Romania that provides agribusinesses with agricultural inputs, technology and finance, recently partnered with Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, to raise USD 9 million via a bond issue. Symbiotics structured the transaction to be
MICROFINANCE EVENT: 3rd CIS Islamic Banking and Finance Forum; March 14-16, 2023; Tashkent, Uzbekistan
This event offers a one-day summit on March 14 and a two-day workshop on March 15 and 16, all with the aim of promoting Islamic finance in the 10 member countries of the Commonwealth of Independent States (CIS). The summit offers sessions titled Islamic Finance and Financial Inclusion; Investment
MICROFINANCE EVENT: 10th African Islamic Finance Summit; May 3, 2023; Serrekunda, The Gambia – NEW DATE
Originally scheduled to take place during February, this event is structured as a one-day summit followed by a two-day workshop, all focusing on Islamic finance, which refers to financial services that comply with Shariah principles, such as the use of profit sharing in lieu of charging interest. The event is themed “Evidence of Impact – Financial Inclusion,” with the first day’s session titles include Islamic Banking, Finance, FinTech [Financial Technology]