by Pranav Agarwal -

MICROCAPITAL BRIEF: Vanuatu Launches Vanklia System to Automate Large, Small Payments

The Reserve Bank of Vanuatu recently launched a digital payment platform called Vanklia that allows automated clearing house (ACH) transfers as well as real-time gross settlements. The ACH system is designed for lower-value batch payments such as salaries and retail payments, while the

by Renata Samadova -

MICROCAPITAL BRIEF: Svatantra of India Paying Navi Group $179m for Microfinance Subsidiary Chaitanya

Svatantra Microfin Private Limited, an Indian non-banking financial company-microfinance institution (NBFC-MFI) recently agreed to pay INR 15 billion (USD 179 million) to India-based Navi Group in exchange for its fully-owned subsidiary Chaitanya. Navi was advised on the deal by

by Pranav Agarwal -

MICROCAPITAL BRIEF: Annapurna Finance Borrowing $25m from responsAbility to Boost Renewable Energy, Energy-efficiency in India

The Switzerland-based firm responsAbility Investments recently loaned USD 25 million to Annapurna Finance, a microfinance institution (MFI) seeking to reduce poverty and spread economic opportunity in India. The MFI plans to on-lend the funds to families as well as smaller businesses looking to acquire solar panels and other equipment that reduces the need for fossil fuels. As Annapurna has

by Renata Samadova -

MICROCAPITAL BRIEF: Hamkorbank of Uzbekistan Borrows $50m from FMO to Fund SMEs Owned by Women, Youth; Microenterprise; Climate Projects

The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently loaned USD 50 million to Uzbekistan-based Joint Stock Commercial Bank Hamkorbank. Hamkorbank plans to use 70 percent of the fresh funds to finance

by Renata Samadova -

MICROFINANCE EVENT: Global SME Finance Forum; September 12-14, 2023; Mumbai, India

The ninth iteration of this event will explore financial services providers’ delivery of digital services to small and medium-sized enterprises (SMEs), leveraging samples from India and abroad. The forum will cover topics – particularly “ecosystems” – relating to digital finance, international

by Rohit Dayanand -

MICROCAPITAL BRIEF: KEPFIC Member Pension Funds Invest $61m in Acorn Holdings, Kenya Mortgage Refinance Company (KMRC) to Boost Affordable Housing

Kenya’s Acorn Holdings Africa and the Kenya Mortgage Refinance Company (KMRC) recently won investments from members of the Kenya Pension Funds Investment Consortium (KEPFIC), a group of funds that collaborate to invest in alternative assets. In particular, KEPFIC pension funds placed

by Rohit Dayanand -

MICROCAPITAL BRIEF: DFIs Invest $109m in Horizon Capital IV to Support SMEs in Ukraine, Moldova

Six public-sector organizations recently invested in the second funding round of Horizon Capital IV with the goal of enabling the equity fund to supply more working capital to “fast-growing, technology-enabled small and medium-size businesses” in Ukraine and Moldova. The fund also seeks to

by Renata Samadova -

MICROCAPITAL BRIEF: EBRD Loaning $5m to ING Finansal Kiralama for Leasing for Energy Efficiency, Renewables in Turkiye

The multilateral European Bank for Reconstruction and Development (EBRD) recently agreed to provide an unsecured loan approximately equivalent to USD 5.5 million to the Türkiye-based Internationale Nederlanden Groep (ING) Finansal Kiralama, which is controlled by the Netherlands-based ING Group. Also known as ING Leasing, the company plans to use the proceeds to finance

by Ben Barba -

MICROCAPITAL BRIEF: OPEC Fund Donating $1m to UNCDF to Boost Energy Access, Reduce Emissions, Starting in Madagascar, Tanzania

The Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development recently granted USD 1 million to the UN Capital Development Fund (UNCDF) to co-finance clean cooking, energy access and renewable energy through the Climate Finance and Energy Innovation Hub (CFEIH). CFEIH was created in 2022 by the OPEC Fund, UNCDF and the Austria-based

by Ben Barba -

MICROCAPITAL BRIEF: Echosys, Rgreen Raise $93m for Solar Power for SMEs in Africa via Afrigreen Debt Impact Fund

Two French firms, Echosys Invest and Rgreen Invest, recently announced the first close of their Afrigreen Debt Impact Fund with EUR 88 million (USD 93 million) to finance solar power plants for small and medium-sized enterprises (SMEs). The fund will focus on Central and West Africa, and it is to include local-currency financing for projects in

by Vaughn Rajah -

MICROCAPITAL BRIEF: Publish What You Fund Releases DFI Transparency Index Ranking Disclosure Record of 30 Development Finance Institutions

Publish What You Fund, a UK-based NGO aimed at increasing the transparency of international development efforts, today launched its DFI Transparency Index, which examines and ranks the operational transparency of 30 development finance institutions (DFIs). The rankings are based on

by Renata Samadova -

MICROFINANCE EVENT: Global SME Finance Forum; September 19-23, 2022; Phnom Penh, Cambodia

The Ninth Global SME Finance Forum will address the effects of digitalization on the financial sector, including the potential for digital transformation to facilitate “inclusive, sustainable, and responsible finance” for microenterprises as well as small and medium-sized enterprises (SMEs). The first day of the event offers

by Hasnat Aslam -

MICROCAPITAL BRIEF: Incofin Invests $6m in Peer-to-peer Lender Amartha from Inclusive Finance Fund, Microfinance Enhancement Facility (MEF) to Increase Group Lending to Female Entrepreneurs in Rural Indonesia

Amartha, a firm offering peer-to-peer lending and other services in Indonesia, recently gained access to USD 6 million in debt financing from the Belgian impact investing firm Incofin Investment Management in an attempt to boost access to financial services for women entrepreneurs in rural Indonesia. Two thirds of the total invested comes from the Microfinance Enhancement Facility (MEF), and the remainder is sourced from

by Hasnat Aslam -

MICROCAPITAL BRIEF: SIG Venture Capital Leads $210m Investment in Fintech Voyager of the Philippines

Voyager Innovations, a Philippine provider of digital financial services tools such as Fintq, PayMaya and Smart Padala, recently secured an investment package totaling USD 210 million. The fresh capital is slated for developing the company’s “digital banking venture and other services like cryptocurrency and micro-investments.” Voyager was established in

by Sheen Gupta -

MICROCAPITAL BRIEF: Major Development Funders Launch “Alliance for Entrepreneurship in Africa” to Support SMEs – Especially Those Run by Women, Youth

A group of organizations involved in international development recently launched the Alliance for Entrepreneurship in Africa (AforE) with the aim of supporting the growth of small and medium-sized enterprises (SMEs), particularly those owned or operated by youth and female entrepreneurs. The alliance seeks to

by Sheen Gupta -

MICROCAPITAL BRIEF: Banco Santander, DEG, IDB Invest, Itaú BBA Loan $150m to Banco Pan to Boost Digital Financing of Vehicles, Microenterprise, Consumption in Brazil

IDB Invest, a member of the US-based Inter-American Development Bank (IDB) Group, is leading a loan package totaling USD 150 million for Banco Pan SA, a Brazilian commercial bank, with the aim of increasing access to digital financial services for people with low incomes. The loan funding includes USD 50 million from IDB Invest, USD 25 million from Germany’s Deutsche Investitions-und Entwicklungsgesellschaft (DEG), and USD 75 million as a B loan funded in unspecified portions by Spain’s Banco Santander and Brazil’s Itaú BBA. Banco Pan plans to use the funding,