MasterCard Incorporated, a US-based global payments and technology company, and the South African Social Security Agency (SASSA), a government-funded organization that distributes social grant funds, have distributed 10 million active MasterCard debit cards to individual beneficiaries in South Africa, replacing cash payments.
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MICROCAPITAL BRIEF: eServGlobal, Zain Group Bring Collaborative Mobile Money Service to Africa and the Middle East
eServGlobal, a France-based provider of mobile financial services to emerging markets, recently announced that it has entered a three-year framework agreement with Zain Group, a mobile telecommunications provider that operates in eight markets across Africa and the Middle East, in order to provide eServGlobal’s mobile money solution services to Zain Group’s customers.
MICROCAPITAL BRIEF: Tanzania Postal Bank (TPB), World Savings Banks Institute (WSBI), Bill and Melinda Gates Foundation to Launch “TPB Popote” to Reach Unbanked Tanzanians
The Tanzania Postal Bank (TPB), a Tanzania-based financial services organization, recently partnered with the World Savings Banks Institute (WSBI), a Switzerland-based international banking association, and the Bill and Melinda Gates Foundation (BMGF), a US-based nonprofit organization, to launch a new mobile banking service called “TPB Popote” that aims to increase the financial inclusion of low-income people in rural regions of Tanzania.
MICROFINANCE PAPER WRAP-UP: “From Blueprint to Scale: The Case for Philanthropy in Impact Investing;” by Harvey Koh, Ashish Karamchandani and Robert Katz; Published by Monitor Group and Acumen Fund
By Harvey Koh, Ashish Karamchandani and Robert Katz; published by Monitor Group and the Acumen Fund; April 2012; 68 pages; available at: http://www.mim.monitor.com/downloads/Blueprint_To_Scale/From%20Blueprint%20to%20Scale%20-%20Case%20for%20Philanthropy%20in%20Impact%20Investing_Full%20report.pdf
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $50m to AccessBank of Azerbaijan for Micro-, Small, Medium-sized Enterprises in Rural Areas
AccessBank, an Azerbaijani for-profit microfinance institution (MFI), recently notified MicroCapital that the Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, will provide a USD 50 million five-year senior loan facility to AccessBank.
MICROCAPITAL BRIEF: FMO, International Finance Corporation (IFC), KfW Entwicklungsbank Invest $5.4m in AccessBank Rwanda
The Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that aims to promote growth in the economies of developing countries; the International Finance Corporation (IFC), a member of the World Bank Group that offers assistance to private companies with the goal of alleviating poverty in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned German development bank, have invested RWF 3.5 billion (USD 5.4 million) in AccessBank Rwanda (ABR), the eighth member of Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions [1].
MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs
Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network.
MICROCAPITAL BRIEF: Old Mutual Group (OM) Acquires Microfinance Company Faulu Kenya
Old Mutual Group (OM), a South Africa- and UK-based insurance and banking institution, reportedly has purchased a majority stake in Kenya’s Faulu Company, a deposit-taking microfinance company founded in 1992.
MICROFINANCE PUBLICATION ROUND-UP: Alleviating Poverty via Mobile Communications; Integrating Microfinance, Health Services in the Andes; Mobile Phone Technology for Women in Afghanistan
“Alleviating Poverty: Mobile Communications, Microfinance and Small Business Development Around the World;” by Darrell M. West; published by The Brookings Institution; May 2013; 12 pages; available at: http://www.brookings.edu/~/media/research/files/papers/2013/05/16%20poverty%20mobile%20microfinance%20business%20west/westalleviating%20povertymobile%20comms%20microfinance%20small%20business51613v12.pdf
MICROCAPITAL BRIEF: Etisalat, National Bank of Egypt, MasterCard to Launch Mobile Money Service in Egypt
The Egyptian subsidiary of the Emirates Telecommunications Corporation (Etisalat), a United Arab Emirates-based telecommunications services provider, recently formed two partnerships with the National Bank of Egypt (NBE), a commercial bank wholly owned by the Egyptian government, and MasterCard, a US-based payment solutions company, to launch a mobile commerce service known as “Flous,” meaning “money” in Arabic.
MICROCAPITAL BRIEF: responsAbility Loans $9.5m to MicroCred Nanchong of China
ResponsAbility Social Investments, a Swiss company with a focus on microfinance, recently notified MicroCapital that it disbursed a loan of CNY 60 million (USD 9.5 million) to Chinese microfinance institution (MFI) MicroCred Nanchong, a member of the France-based MicroCred.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Receives $60m Syndicated Loan from FMO, OeEb, PROPARCO
Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch development finance institution, recently notified MicroCapital that it has arranged a USD 60 million syndicated loan facility for AccessBank, a for-profit microfinance institution located in Azerbaijan.
MICROCAPITAL BRIEF: ICICI Bank, Vodafone Bring M-Pesa Mobile Money Service to India
Vodafone Group Private Limited Corporation, a British multinational mobile network operator, and the ICICI Bank, a commercial bank in India, have announced that they have expanded Vodafone’s mobile pesa (M-Pesa) cash transfer service to India.
MICROCAPITAL BRIEF: Vodacom Mozambique Launches M-Pesa Mobile Money Service
Vodacom, a South Africa-based mobile communications company owned by UK-based Vodafone, reportedly has announced the expansion its mobile pesa (M-Pesa) cash transfer service to Mozambique.
MICROFINANCE PUBLICATION ROUND-UP: Financing Africa, Social Performance Indicators for Microinsurance, Segmentation of Agricultural Households
“Financing Africa Through the Crisis and Beyond;” by Thorsten Beck, Samuel Munzele Maimbo, Issa Faye and Thouraya Triki; published by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), World Bank Group, African Development Bank; 2013; 322 pages; available at: http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/Financing%20Africa%20Through%20the%20Crisis%20and%20Beyond.pdf
This book presents a review of trends in Africa’s financial sector in the context of Africa’s past economic development trends and broader historical background.
MICROCAPITAL BRIEF: Pakistan’s Habib Bank Limited (HBL) Establishes Branchless Banking Service “HBL Express”
Habib Bank Limited (HBL), a Pakistani commercial bank, has implemented a new branchless banking service, HBL Express.
MICROFINANCE PAPER WRAP-UP: “Policy Brief: Advancing African Women’s Financial Inclusion;” published by Making Finance Work for Africa, GIZ, New Faces New Voices, East African Community, BMZ
Published by Making Finance Work for Africa (MFW4A), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), New Faces New Voices, East African Community, Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ); 2012; 40 pages; available at: http://www.gbaforwomen.org/images/library/873/Advancing-Womens-financial-inclusion-Final-English.pdf
This report presents an analysis of the potential positive impacts of advancing African women’s financial inclusion, including more inclusive and sustainable economic growth and higher levels of productive investment and asset accumulation.
MICROCAPITAL BRIEF: Rockefeller, Tony Elumelu Foundations Launch “Impact Economy Innovations Fund” for Africa
The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa.