by Matthew Castner -

MICROCAPITAL BRIEF: Pakistani Mobile Banking Platform, MCB Mobile, Reaches 60k Customers Served and Potential Gateway to Microfinance Banking

MCB Mobile, a Karachi, Pakistan-based partnership between MCB Bank and mobile technology developer Fundamo launched in June 2009, has reached 60,000 whom have transacted a total of PKR 1 billion (USD 11.9 million) as of April 2010 [1]. MCB Bank was founded in 1947 as Muslim Commercial Bank, and commands PKR 511 billion (USD 6 billion) as of 2009 [2]. Fundamo, founded in 2000, is a South African developer of mobile financial services software [3].

by Chinq Yee Chong -

MICROCAPITAL.ORG STORY: The International Banking Systems Online Journal Comments On How Key Stakeholders Influence Purchasing Decisions Of Microfinance Institutions In Relation To Information Systems And Includes Observations By Grameen Foundation, CGAP And The Bill And Melinda Gates Foundation

The International Banking Systems publication (IBS), an online journal that provides information on banking systems and operations, have produced a detailed supplement on the role of technological systems in microfinance [1]. An article within the supplement entitled ‘Analysis: Microfinance Stakeholders – Guiding hands’ [2] explores how major stakeholders shape the market for microfinance information systems (MIS). The thrust of the article is that there is an important difference between the microfinance and commercial banking sectors when it comes to information systems and that MFIs depend heavily on key stakeholders such as the Bill and Melinda Gates Foundation [3], CGAP [4], the IFC [5] and GTZ [6] for guidance and direction in making technology decisions. The conclusion arrived at is that ‘directly or indirectly, it is these stakeholders that influence purchasing decisions by MFIs, on the business case for investment, the process of selection, and which products to choose’ in respect of MIS.

by Zoran Stanisljevic -

MICROCAPITAL.ORG STORY: Mongolia’s XacBank and Horus Noomadic Solutions Announce Launch of Mobile Banking Services for Microfinance

XacBank and Horus Noomadic Solutions, a mobile banking platform, has announced the launch of AMAR/mobile banking services for microfinance in Mongolia.  AMAR is enabled by Noomadic.  According to Noomadic, the launch of AMAR will enable XacBank’s clients to conduct cash-based transaction and payments by using their mobile phones through a network of agents and merchants.  AMAR services can be used with all 4 mobile operators in Mongolia (G-Mobile, Mobicom, Skytel and Unitel) [1].  No additional information regarding how the network will function or its scope is provided.

by Zoran Stanisljevic -

MICROCAPITAL STORY: Mobile Money Service Provider Mi-Pay Forms Partnership with Small World Financial Services to Create and Expand their Mobile Money Distribution Network

Mi-Pay, a mobile money company based in the United Kingdom, has recently announced that it has partnered with Small World Financial Services (a global money transfer business based in Europe) to globally expand mobile money payment solutions.  The partnership will focus on providing operators with solutions for international prepay phone top-up and global money transfer functionality to over 30 countries.  No additional information regarding how the network will function or its scope is provided.

According to Business Intelligence Middle East, a business information company based in Dubai, the partnership with Small World and Mi-Pay would provide a mix of operational, regulatory consultation, business and technical processes, and market knowledge to facilitate mobile money payment solutions globally.  Mobile phone top-up is a recharge service that allows customers in one country to buy airtime for people in different countries via the Internet or on a foreign mobile network for prepaid mobile phones.  Mi-Pay’s global top-up service hub will also provide Small World the ability to offer international prepay phone airtime to its customers.  In turn Mi-Pay will be able to extend its services into new countries and regions while leveraging the distribution network to work earlier with clients in the regulatory, compliance and payment process.

by Laura Anderson -

MICROCAPITAL STORY: International Finance Corporation (IFC) Invests USD 75 million in MTN Dubai subsidiary MTN Afghanistan to Expand Mobile Communications Access in Afghanistan

The International Finance Corporation (IFC), a unit of the World Bank Group, is providing a USD 65 million loan and USD 10 million in equity capital to MTN Afghanistan, a subsidiary of MTN Dubai and part of the South Africa-based MTN Group Ltd.  The investment is meant to support the expansion of MTN’s  mobile telephone network to meet growing mobile phone service demand in Afghanistan. The expansion is focused on low-income populations.  Details of the loan and equity investment were not available for this story, however James Ramadan, MTN Group’s Regional Vice President for Middle East and North Africa stated that the IFC was providing “long-term funding.”  The IFC hopes its investment will encourage other investors into the sector in Afghanistan. 

by Sally Levy -

MICROCAPITAL STORY: CGAP (Consultative Group to Assist the Poor) and the GSM Association Release Mobile Money Market Sizing Study which Estimates Mobile Financial Services will Reach $5b in 2012

CGAP (Consultative Group to Assist the Poor) and the GSM Association (GSMA) will publish the results of a study estimating the size of the mobile financial market at the Mobile Money Summit in late June 2009. It will be announced that the CGAP-GSMA Mobile Money Market Sizing Study found that the market for mobile financial services could increase to USD 5 billion by 2012.

by Laura Anderson -

MICROCAPITAL STORY: IDB and Fundación Telefónica Present Report on Mobile Communications and Access to Financial Services in Latin America and the Caribbean

The Inter-American Development Bank (IDB) and Fundación Telefónica have recently presented a report on mobile communications and access to financial services in Latin America.  The report is a result of a dialogue between public and private sector leaders, carried out through a series of workshops organized by the Multilateral Investment Fund (MIF) – a division of the IDB – and Fundación Telefónica.  The report analyses the level of development of mobile technologies and financial services in eight countries throughout Latin America and the Carribean.  A copy of the report was still unavailable at the time of this release.

by Ryan Hogarth -

MICROCAPITAL STORY: Carbon Manna Unlimited Seeks Strategic Partners to Implement Carbon Micro Credit System in Kenya

Carbon Manna Unlimited, a San Diego-headquartered company, has put out a call for strategic partnerships with companies and philanthropies interested in implementing its envisioned cell phone based Carbon Micro Credit system in Kenya, and subsequently, other West and Southern African countries. Specifically, the call goes out to manufacturers of cell phone and wireless transmission equipment, wireless carriers doing business in Africa, and companies interested in co-promotional campaigns. Carbon Manna Unlimited, founded by David Palella, aspires to create a system in which impoverished families can profit from the carbon offsets they produce by switching from inefficient cooking methods that burn biomass and contribute to deforestation, to efficient solar cookers or modern charcoal stoves. Mr. Palella estimates that each family that makes the transition could claim approximately three tons of carbon-offset credits per year, worth about USD 20 to USD 35 – about a month’s wage for someone living on USD 1 per day. Furthermore, in transitioning to the new stoves a family would reduce their contribution to deforestation and desertification, and limit their lung exposure to unhealthy smoke.

by the MicroCapital Team -

MICROFINANCE EVENT: CGAP, DFID, IFC, GSM Association Organize Mobile Money Summit in Cairo

2008 MOBILE MONEY SUMMIT: EXPANDING MARKETS, TRANSFORMING LIVES

MAY 14-15, 2008, CAIRO, EGYPT

This conference is designed for senior executives from financial services institutions, mobile network operators, development organizations, solutions vendors and regulatory and policy makers. The inaugural event will cover prime markets, showcase new solutions and share key success factors and learnings from around the world. The goal of the Summit is to stimulate greater understanding and collaboration among local and global stakeholders. The organizers aim to equip participants to develop and deploy their own Mobile Money portfolio effectively, efficiently and at scale.

by the MicroCapital Team -

MICROCAPITAL STORY: CGAP Releases Notes on Regulation of Branchless Banking in India

CGAP has partnered with the UK Department for International Development (DFID) and the GSM Association, a global trade association representing over 700 mobile phone operators from 218 countries, to conduct diagnostic reviews of the regulatory environment for branchless banking approaches in Pakistan, Kenya, South Africa, the Philippines, India, Russia and Brazil. The report on India, summarized here, was released this month. MicroCapital covered the release of the Kenya report in a story dated November 26. 2007, and the Pakistan report can be downloaded from CGAP.