This event is organized as three sub-events on decentralized finance (DeFi), startup companies and mobile technology. The Africa Money & DeFi Summit will cover technologies such as
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MICROCAPITAL BRIEF: AXA, Acumen’s KawiSafi Lead $16m Equity, Debt Investment Round in Sistema.bio, Provider of Biogas Digesters
KawiSafi Ventures, a Kenya-based fund managed by US-based Acumen Capital Partners, and AXA IM Alts, which is controlled by France’s AXA Group, recently led an investment totaling USD 15.6 million in Sistema.bio, a Mexico-based biogas company that is active on four continents. The funding package includes
MICROCAPITAL BRIEF: Scott Nathan Takes Helm as CEO of DFC, Major Funder of Microfinance in Low-, Middle-income Countries
Scott Nathan recently was confirmed by the US Senate to serve as CEO of the US International Development Finance Corporation (DFC), which partners with “the private sector in the developing world to improve livelihoods and address global challenges like climate change, pandemic threats and persistent economic disparities.” Mr Nathan has worked in
MICROCAPITAL BRIEF: ResponsAbility Lends $18m to Fintech U Gro Capital for MSME Funding in India
ResponsAbility Investments, a Swiss firm in the process of being acquired by UK-based M&G, recently facilitated INR 1.4 billion (USD 18 million) in borrowing by U Gro Capital, an Indian financial technology (fintech) platform, to increase its funding of micro-, small and medium-sized enterprises (MSMEs). The debt package comprises INR 1.1 billion (USD 14 million) in nonconvertible debentures (NCDs) with the remainder in the form of an external commercial borrowing transaction. The latter is
MICROFINANCE EVENT: AFSIC – Investing in Africa; October 10-11, 2022; London, UK
The Africa Financial Services Investment Conference (AFSIC) is an annual event that covers country-specific investment opportunities as well as the following broader themes: “Banking, Agriculture, Sustainable Growth, Infrastructure, Education, Informed Investing, Power and Fintech [Financial Technology]”. While the agenda for this year has not been released, last year’s sessions included: Investing in Greener and Affordable Housing in Africa, Investment Returns in Africa’s Education Sector, Pan African Healthcare Governance, Analysis of
MICROFINANCE PAPER WRAP-UP: “Resilient and Inclusive Financial Services Delivery During COVID-19,” Published by Toronto Centre
This paper examines the effect of the COVID-19 pandemic on financial services by focusing specifically on financial inclusion in Rwanda, Sierra Leone and Zambia. The study explores changes in the “face-to-face (F2F) delivery of financial services” to groups traditionally underserved by the financial system, including “women, youths, small and medium enterprises, smallholder farmers and rural households.” The authors collected data via
MICROCAPITAL BRIEF: Te Creemos Subsidiary CAME Launches Techreo App to Expand Digital Financial Services in Mexico
Consejo de Asistencia al Microemprendedor (CAME), a unit of Mexico-based Te Creemos, recently launched an app called Techreo to expand the ways it provides financial services such as savings, loans, insurance and financial education. The institution has raised USD 7 million for the app from angel investors, of which USD 1.5 million is a loan from
MICROCAPITAL BRIEF: Toronto Centre Releases Gender Toolkit for Financial Regulators
The Canada-based NGO Toronto Centre, with funding from the US Agency for International Development (USAID), recently released a toolkit titled First Step: Integrating Gender into Technology-enabled Financial Sector Supervision, “to assist financial supervisors from emerging markets with integrating gender dimensions into their supervisory practices.” The toolkit, which emphasizes the relevance of gender awareness and inclusion, offers
MICROCAPITAL BRIEF: CIMB Bank Philippines, Zoloz Partner on e-KYC in Effort to Boost Digital Financial Services, Inclusion
CIMB Bank Philippines, a digital banking unit of Malaysia-based CIMB Group Holdings, recently announced a partnership with China-based Zoloz to leverage its electronic know-your-customer (e-KYC) technology to simplify the bank’s verification of customers’ identities and otherwise create an “enhanced payment experience.” Zoloz, which is owned by China’s Ant Group, offers products that
MICROFINANCE EVENT: Mobile Payments Latam; May 12-13, 2022; Miami, Florida, USA – NEW DATES
Originally scheduled to begin on May 9, this conference focuses on the evolution of digital payments in Latin America, including as innovations in technology conflict with unstable markets and regulatory lag. A key theme is how the massification of digital payments is creating an increase in demand on which both new and traditional players are capitalizing. While this year’s agenda has not yet been released, session titles from the 2021 conference included “Nuevo Impulso a la Inclusión Financiera desde los Pagos Móviles” (Mobile Payments Bring New Momentum to Financial Inclusion), “Una Plataforma de Pagos Pionera, Impulsada por la
MICROFINANCE PAPER WRAP-UP: “Beyond Wage Digitization: Financial Capability and Economic Empowerment of Cambodian Women Migrant Workers,” Published by Women’s World Banking (WWB)
This report analyzes the financial awareness, financial behaviors and economic empowerment of 2,800 women – mostly migrants – who work in 13 factories in Cambodia and are paid via digital accounts with Wing Bank. The authors’ initial literature review indicated
MICROFINANCE EVENT: FinovateFall; September 12-14, 2022; New York, NY, USA
The goal of the Finovate series is to spotlight innovations in financial technology (fintech) from startups and established leaders alike. Two days of the event will showcase 75 product demonstrations. A separate conference day will focus on selecting technologies to maximize competitiveness. While this year’s agenda has not yet been released, session titles from the 2021 conference include “Harnessing Partnerships to Drive Financial Inclusion & Improve Financial Health,” “The Future of Digital Identity Is Now,” “Harnessing AI [Artificial Intelligence] to Democratise Home Buying,” “Decentralised
MICROCAPITAL BRIEF: Fintech TerraMagna Raises $40m in Debt, Equity from Milenio, Shift, SoftBank to Boost Lending Along Agricultural Value Chains in Brazil
TerraMagna, a Brazilian agricultural financial technology (fintech) company, recently raised USD 30 million in debt and USD 10 million in equity funding from Japan’s SoftBank Group, via its SoftBank Latin America Fund, and two Brazilian finance firms, Milenio Capital and Shift Capital. The breakdown of the investments by investor and the sizes of the stakes taken have not been released. In addition to lending to sellers of agricultural inputs and tools,
MICROCAPITAL BRIEF: In Response to COVID-19 Pandemic, Khalti Broadens E-commerce Platform to Offer Deliveries from MSMEs to Customers in Nepal
Khalti, a Nepal-based provider of digital financial services, has modified its digital platform to support micro-, small and medium-sized enterprises (MSMEs) in Nepal, including small shops known as kirana stores, with the support of the UN Capital Development Fund (UNCDF). Before the COVID-19 pandemic, Khalti offered a service through which enterprises could open digital storefronts to sell their services and collect payments. In adjusting to the pandemic, Khalti started
MICROCAPITAL BRIEF: Empire, Mosabi, Orange, UNCDF Seek to Boost Financial Inclusion in Sierra Leone with Focus on Financial Literacy, Recruiting Women as Mobile Money Agents
The UN Capital Development Fund (UNCDF) recently embarked on a partnership with France-based Orange Mobile Finance (Orange Money); Mosabi, a US-based digital education and finance platform; and Empire Solutions, a digital microfinance institution in Sierra Leone, in an effort to boost access to finance for low-income people – including women and youth – in Sierra Leone by increasing:
MICROCAPITAL BRIEF: Medical Credit Fund Raises $37m from the Netherlands’ Government, Philips, European DFIs to Boost Financing for SMEs to Fight Malaria, Boost Maternal Health in Africa
Medical Credit Fund (MCF), one of the four nonprofit members of the Netherlands-based PharmAccess Group, recently raised a mix of equity and debt totaling EUR 32.5 million (USD 36.7 million) to “expand the Fund’s presence and support to healthcare providers in sub-Saharan Africa.” In particular, the new funding is slated for investment in
MICROCAPITAL BRIEF: AEB Onlending $5.7m from EBRD, EU to SMEs in Armenia, Mostly for “Green” Investments
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, recently agreed to lend EUR 5 million (USD 5.7 million) to Armeconombank (AEB), an Armenian bank. The purpose is to finance small and medium-sized enterprises (SMEs) in acquiring technology that will upgrade employees’ working conditions, boost competitiveness and increase exports – including by reaching EU standards. AEB has agreed to direct at least 70 percent of the loan proceeds to
MICROCAPITAL BRIEF: Tugende Raises $17m in Debt from Symbiotics, Goldfinch, Nordic Microfinance Initiative, Lendahand to Expand Vehicle, Equipment Financing for MSMEs in Kenya, Uganda
Tugende, a financial technology (fintech) firm specializing in vehicle finance in Uganda and Kenya, recently raised USD 17 million in debt funding. The firm plans to use USD 12 million of the fresh cash to support growth in