Even as worldwide access to financial services expands, women remain underrepresented among elected officeholders. This panel discussion will center on how access to finance can increase the political empowerment of women. The panelists include
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MICROCAPITAL BRIEF: FINCA Zambia Borrows $1.5m from Grameen Credit Agricole Foundation for Microfinance Lending
The Zambian subsidiary of US-based FINCA Impact Finance has borrowed local currency approximately equivalent to USD 1.5 million from the Luxembourg-based Grameen Credit Agricole (GCA) Foundation for on-lending in Zambia. FINCA Zambia aims to
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation, CoopMed Loan $2m to FINCA Jordan for Microfinance Lending
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently partnered with CoopMed Fund, which is managed by Inpulse Investment Manager of Belgium, to loan a total of USD 2 million to FINCA Jordan, an affiliate of the Foundation for International Community Assistance (FINCA International), a US-based nonprofit that seeks to
MICROCAPITAL BRIEF: BlueOrchard Arranges $20m Loan from Microfinance Enhancement Facility (MEF), BOMF to FINCA Impact Finance
FINCA Impact Finance, a network of microfinance institutions (MFIs) in 20 countries, recently agreed to
MICROCAPITAL BRIEF: “FINCA Forward” to Match Fintech Firms, Microfinance Institutions (MFIs) for New Product Testing
The Foundation for International Community Assistance (FINCA International) recently announced a partnership with the US Agency for International Development’s (USAID’s) Partnering to Accelerate Entrepreneurship (PACE) Initiative to launch
MICROCAPITAL BRIEF: South African Mobile Financial Services Provider Wala Lands Equity Investment from Newtown Partners; Sells $1.2m in “Dala” Tokens via Initial Coin Offering (ICO); Collaborates with M-vendr, FINCA
Wala, a Cape Town-based financial services provider seeking to reduce barriers to financial access in Africa and elsewhere, recently sold an equity stake to South Africa’s Newtown Partners and raised USD 1.2 million from the public through an initial coin offering (ICO) of its Dala token. The size and price of the Newtown stake
MICROCAPITAL BRIEF: Analytics Private Limited (APL) to Use IBM Technology to Help FINCA Pakistan Understand Customers Better, Improve Digital Financial Services
FINCA Pakistan, an affiliate of the US-based Foundation for International Community Assistance (FINCA International), recently hired Analytics Private Limited (APL), a Pakistani technology company, to help it deepen
MICROCAPITAL BRIEF: Opportunity International EduFinance, FINCA Microfinance Bank Nigeria to Offer Education Loans to Students’ Families, Schools
FINCA Microfinance Bank Nigeria, an affiliate of the US-based Foundation for International Community Assistance (FINCA International), recently partnered with Opportunity International (OI) EduFinance to lend money for
MICROCAPITAL BRIEF: FINCA Microfinance Bank of Tanzania Rolls Out HaloYako Mobile Savings Product
The Tanzanian affiliate of the US-based Foundation for International Community Assistance (FINCA International) recently began offering a service called HaloYako that allows people to open savings accounts via mobile phones. There is no fee to use the service or maintain the associated account. In fact, customers can earn
MICROCAPITAL BRIEF: India’s Disha Microfin Receives License to Operate Fincare Small Finance Bank
Disha Microfin, an Indian microfinance institution (MFI), recently received a license from the Reserve Bank of India (RBI) to open a “small finance bank” that it is launching under the name Fincare.
MICROCAPITAL BRIEF: FINCA Nigeria Expands FINCA eXpress Agent Banking Service in Imo
FINCA Microfinance Bank Limited, the Nigerian affiliate of the US-based Foundation for International Community Assistance (FINCA International), is serving 20,700 customers via 20 agents in the state of Imo.
MICROCAPITAL BRIEF: FINCA Armenia Completes $7m Dual-currency Bond Issue
FINCA Armenia, a microfinance institution based in Yerevan, recently issued bonds worth USD 4 million and AMD 1.5 billion (USD 3 million) listed on the NASDAQ OMX Armenia stock exchange.
MICROCAPITAL BRIEF: Financiera FINCA Nicaragua Launches $10m Bond Offering to Expand Microfinance Lending
Financiera FINCA Nicaragua, an affiliate of US-based microfinance NGO FINCA International, recently registered a bond program totaling the equivalent of USD 10 million from which it subsequently issued one- and three-year bonds totaling USD 1.1 million. Investors over-subscribed
MICROCAPITAL BRIEF: IFC to Advise FINCA DRC on Boosting Access to Credit, Mobile Banking in the Democratic Republic of the Congo, with Funding from The MasterCard Foundation
The World Bank Group’s International Finance Corporation (IFC) recently agreed to provide two years of advisory services, valued at USD 1 million, to FINCA DRC, a unit of US-based FINCA Microfinance Holding Company that provides savings and credit services to 256,000 customers in the Democratic Republic of Congo. The goal is to
MICROCAPITAL BRIEF: Asian Development Bank Bond Sale Raises $30m to Boost Local Microenterprises Served by Credo Microfinance, FINCA Georgia
The Asian Development Bank (ADB), a multilateral development banking institution based in the Philippines, recently announced it has raised GEL 64 million (approximately USD 30 million) through a sale of bonds denominated in Georgian lari.
MICROCAPITAL BRIEF: FINCA, First Access Partner in Africa on Alternative Credit Scoring, Incorporating Mobile Phone Usage
FINCA Microfinance Holding Company, an arm of US-based nonprofit microfinance network FINCA International, and First Access, a US-based financial technology company, recently partnered to create an alternative credit-scoring system to serve the Democratic Republic of Congo, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. This system aims to “establish credit scores for low-income clients who lack sufficient formal credit history to secure small loans to build businesses or support emerging personal needs.” Specific information on exactly how this system works is unavailable, but First Access typically analyzes demographic, geographic, financial and social aspects of clients’ mobile phone usage to predict credit risk.
MICROCAPITAL BRIEF: Microfinance Network FINCA International Appoints Andree Simon as Co-CEO
The Foundation for International Community Assistance (FINCA International), a US-based nonprofit with microfinance operations in 23 countries, recently announced the promotion of Andrée Simon to the position of co-CEO of FINCA Microfinance Holding LLC (MFH), FINCA’s International’s network of microfinance subsidiaries.
MICROCAPITAL BRIEF: FINCA International to Offer Microfinance Services to Fund Off-Grid Solar Systems in Africa
The Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance network, has announced that it will offer microfinance services to fund “off-grid solar systems”[1] in Africa.