The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, and Yunus Social Business (YSB) Global Initiatives, a Germany-based company that aims to fight poverty by promoting businesses that solve social problems, recently announced that they have established the Holistic Social Business Movement (HSBM).
Search Results for: AfDB
MICROCAPITAL BRIEF: FirstRand Bank of South Africa Receives $300m Line of Credit from African Development Bank (AfDB)
The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a seven-year line of credit in the amount of USD 300 million to FirstRand Limited, a financial service provider based in South Africa that operates in seven African countries.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Microfinance Capacity Building Fund (MCBF) Offering up to $500k per Institution
The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently announced its second call for proposals for the Microfinance Capacity Building Fund (MCBF), which was launched by AfDB and the government of Spain to expand the outreach of the African financial sector.
MICROCAPITAL BRIEF: African Development Bank (AfDB), Spain Launch Microfinance Capacity Building Fund for Africa, Offering Funding Through Request for Proposals
The African Development Bank (AfDB), a multilateral financial institution, and the government of Spain have established the Microfinance Capacity Building Fund for Africa in an effort to strengthen the continent’s financial sector.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Loan Guarantee Scheme Provides Loans to Women Whose Businesses are Too Big for Microfinance
The lack of access to finance for women entrepreneurs in Africa was a theme of the recent annual meeting of the African Development Bank (AfDB) held in Lisbon, Portugal. A report presented at the AfDB meeting showed that women entrepreneurs face a number of hurdles that make it difficult for them to obtain financing, while a study by AfDB estimated that the USD 19 billion-demand for finance from women entrepreneurs reflects an opportunity for finance institutions as well as for job creation.
MICROCAPITAL BRIEF: African Development Bank (AfDB), World Bank Group Publish “Leveraging Migration for Africa: Remittances, Skills, and Investments” Report
African Development Bank (AfDB), a development finance institution that gives loans and grants to governments and private companies in Africa, and the World Bank Group, a Washington, DC-based group of five institutions with a shared mission to improve living standards for people in the developing world, have jointly published a report titled “Leveraging Migration for Africa: Remittances, Skills, and Investments.”
MICROCAPITAL BRIEF: African Development Bank (AfDB) Presents Thought Leadership Seminar on Boosting Growth of Micro-, Small and Medium-Sized Enterprises (MSMEs)
The African Development Bank (AfDB), a development finance institution that disburses loans and grants to governments and private companies in Africa, recently presented its inaugural Thought Leadership Seminar to boost the development of micro-, small and medium-sized enterprises (MSMEs) in Africa, as part of its knowledge sharing program.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Launches Migration and Development Fund (MDF), Taking Proposals for Projects Relating to Remittances, Local Investment
African Development Bank (AfDB), a development finance institution established in 1964 that gives loans and grants to governments and private companies in Africa, recently launched the Migration and Development Fund (MDF) to support development projects in Africa.
MICROCAPITAL BRIEF: African Development Bank (AfDB) to Provide $23m in New Funding to Tanzanian Small Entrepreneurs Loan Facility (SELF), 1600 Microfinance Institution (MFI) Staff Members to Upgrade Skills
The African Development Bank (AfDB), a multilateral development finance institution (DFI), is set to provide USD 23 million in new loans to the Small Entrepreneurs Loan Facility (SELF), which is run by the government of Tanzania.
MICROCAPITAL BRIEF: African Development Bank (AfDB), Governments of Denmark and Spain to Create African Guarantee Fund (AGF) to Bring Economic Resources to African Businesses Including Microfinance Institutions (MFIs)
The governments of Denmark and Spain, as well as the African Development Bank (AfDB) have combined resources to create the African Guarantee Fund (AGF), a non-bank financial institution intended to boost the economy and reduce poverty in Africa through improved access to funds for small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: African Development Bank (AfDB) Approves $660k Grant to Access Bank Tanzania (ABT), a Microfinance Bank in Tanzania
The African Development Bank (AfDB), a regional development organization in Africa, has approved a USD 660,000 grant to Access Bank Tanzania (ABT), a newly established commercial bank in Tanzania focusing on microfinance. The initiative was made possible through the Fund for African Private Sector Assistance (FAPA), a subsidiary of the Enhanced Private Sector Assistance program, which is a billion-dollar initiative of the government of Japan and the AfDB to promote private sector development in Africa.
MICROCAPITAL.ORG STORY: Conclusions from the Global Forum on Remittances Co-Hosted by International Fund for Agricultural Development (IFAD) and African Development bank (AfDB)
The Global Forum on Remittances, co-hosted by the International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB), recently concluded in Tunis on October 23, 2009. 200 participants involved in remittances attended the forum. The discussion was focused on issues related to workers living abroad who wished to send money back to their families in Africa [1].
MICROCAPITAL.ORG STORY: Remittance Duopoly: International Fund for Agricultural Development (IFAD), African Development Bank (AfDB) and Inter-American Dialogue (IAD) Hold Global Forum on Remittances Calling for More Competition in African Remittance Market
The Global Forum on Remittances 2009, organized by the United Nations’ International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB) in collaboration with the Inter-American Dialogue (IAD), is calling for the lifting of restrictions and costly fees imposed on the USD 40 billion sent as remittances to Africa each year [1]. The forum, a follow-up to similar forums held in 2005 and 2007, also addressed a proposal by G8 leaders in July 2009 to reduce costs of remittances by 50 percent over the next five years [2, 3].
MICROCAPITAL STORY: The International Finance Corporation (IFC) in Washington, DC and European Investment Bank (EIB) in Luxembourg Create the Global Emerging Markets (GEMs) Risk Database Consortium with the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and Inter-American Development to Join (IDB)
The International Finance Corporation (IFC), a member of the World Bank Group, and the European Investment Bank (EIB), the long-term lending bank for the European Union (EU), have agreed to create a Global Emerging Markets Risk Database Consortium. Other international financial institutions (IFIs) that will be joining the Consortium include the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and the Inter-American Development Bank (IDB). The Consortium is to pool data on individual institutions and strengthen risk-management practices among multilateral banks.
MICROCAPITAL STORY: K-Rep Bank of Kenya Receives $2.2m Microfinance Investment from the African Development Bank (AfDB)
K-Rep Bank, a commercial bank that directly targets low income clients in Kenya, received a Kshs 174.8 million (USD 2.2 million) investment from the African Development Bank (AfDB) during May 2009. This financial support will also include technical assistance related to capacity building. K-Rep Bank provides various banking services and specializes in loans to low income, small and micro entrepreneurs. K-rep plans to create 10,000 new jobs by 2011 of which 55 percent would involve women entrepreneurs.
MICROCAPITAL STORY: African Development Bank (AfDB) Warns Microcredit in the African region is Dwindling; AfDB To Double Annual Lending to USD 11 Billion to Help Countries Deal with the Global Downturn
The African Development Bank (AfDB) has announced that it would double its annual lending this year to USD 11 billion to help countries in Africa deal with the global financial crisis. According to a press release by Reuters, AfDB which normally provides loans and grants worth around USD 5.5 billion ever year expects more countries to turn to it for financial aid, hence the doubling of its annual lending. Commenting on AfDB’s funding efforts, its President Donald Kaberuka said AfDB had in place an emergency liquidity facility amounting to USD 1.5 billion and another USD 1 billion from its trade financing facilities. The remaining amount, he said, would be filled from AfDB’s own capital resources. AfDB has sufficient capital to lend for the next five years. However, the new demand created by the crisis to which the Bank is responding implies that the Bank’s risk capital would have to be boosted by the end of 2011.
PRESS RELEASE: African Development Bank (AfDB) Approves $1.1m Equity Investment in Microfinance Institution Advans Bank Congo (ABC)
Micro-enterprises and SMEs in the Democratic Republic of Congo will benefit from an equity investment of USD 1.1 million in Advans Bank of Congo and a technical assistance grant of EUR 650,000 (USD 970,000), approved by the Board of Directors of the African Development Bank.
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