by the MicroCapital Team -

SPECIAL REPORT: Networks in Nigeria, Latin America & Caribbean Boost Trajectory of Women Staff, Clients of Microfinance Institutions (MFIs)

European Microfinance PlatformAt a session titled “Professional Women’s Networks and Women’s Leadership in Financial Inclusion,” Mariana Martinez of FinEquity, a platform hosted by CGAP that promotes women’s financial inclusion, described the platform’s new Spanish-language arm, FinEquityALC. FinEquityALC focuses on Latin America and the Caribbean, serving as a pilot project that could lead to FinEquity establishing other regional projects. The goals of FinEquityALC are to improve public policy that impacts women’s financial inclusion as well as financial products and financial education that are targeted at women. Its 1,100 users span 250 institutions.

Barbara Magnoni of Andares and EA Consultants described how Andares connects 

by Chee Meng Ng -

MICROCAPITAL BRIEF: MPower Secures $430k in Equity for Lease-to-own Solar Power in Africa via Crowdfunding Platform Crowdcube

MPower, a Switzerland-based provider of solar products in Africa, recently raised GBP 350,000 (USD 430,000) via British crowdfunding platform Crowdcube, through which retail investors purchased a total of 5.84 percent of the firm’s equity.

by Alex Chowdhury -

MICROCAPITAL BRIEF: FMO Loans $10m to DRC Arm of Nigeria’s Access Bank for SME Lending

The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently issued a loan of USD 10 million to the unit of Nigeria’s Access Bank Plc that operates in the Democratic Republic of Congo (DRC) to increase its financing of small and medium-sized enterprises (SMEs). 

by the MicroCapital Team -

SPECIAL REPORT: SheInvest to Deliver $1.1b to Women in Africa, Access Bank’s “Beta Friends” Bringing Digital Savings to Market Sellers, Women Move Slowly to Mobile Money: All at European Microfinance Week

AtEuropean Microfinance Platform Friday’s session on gender and financial inclusion during European Microfinance Week, Enrico Pini of the European Investment Bank (EIB) argued that, “It’s smart business,” to boost opportunities for women. Such is the motivation for EIB’s SheInvest program, which is scheduled to mobilize EUR 1 billion (USD 1.1 billion) to invest in entrepreneurship, financial inclusion, digital inclusion and climate-resilience efforts for African women.

Njideka Nwabueze of Nigeria’s Access Bank described her company’s product, “Beta,” which translates as “Good” in the local language. She said that many poor women use informal savings schemes because they do not believe that banks offer products that meet their needs. One of these women’s priorities is easy access to funds. Women who sell products in a market, for example, risk losing a good selling spot if they leave during the day to visit a bank. Also, bank lines can be very long.

This is why, six years ago, Access launched Beta, an interest-bearing savings account that leverages mobile money but is

by Eugene DeCosse -

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $15m in Local Currency to Stanbic Bank Zambia to Expand Financing to Small, Medium-sized Enterprises (SMEs)

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it has disbursed a loan of ZMK 200 million (USD 15 million) to Stanbic Bank Zambia, a subsidiary of South Africa’s Standard Bank Group. Commenting on the transaction, Stanbic Bank Zambia CEO Leina Gabaraane said

by Umit Naz Deryaoglu -

MICROCAPITAL BRIEF: FMO Arranges Syndicated Loan of $162m for Access Bank of Nigeria, Supporting Private Sector, Including MSMEs

The Dutch development bank, which is known by the acronym FMO, recently arranged a syndicated loan of USD 162.5 million for Nigeria-based Access Bank. In addition to FMO, the participating lenders are the BlueOrchard Microfinance Fund, which is managed by BlueOrchard of Switzerland; Dutch cooperative Oikocredit;

by Michelle Fleming -

MICROCAPITAL BRIEF: Nigeria’s Access Bank Buying Diamond Bank to Reach Total of 12m Customers

Nigeria-based Access Bank recently agreed to purchase Nigeria’s Diamond Bank for cash totaling NGN 72.5 billion (USD 199 million) plus stock in Access Bank. Diamond Bank shareholders will receive the equivalent of NGN 3.13 per share

by the MicroCapital Team -

MICROCAPITAL BRIEF: FMO Syndicates $100m Loan to Access Bank for Agricultural Value Chains in Nigeria with Participation from Norfund, Proparco, Finnfund, Swedfund

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a development bank controlled by the Dutch government, recently arranged a syndicated loan totaling USD 100 million for Access Bank, which has 385 service points, mostly in Nigeria. The funding is intended for lending in USD to firms involved in the production, processing and distribution of agricultural goods. The focus is to be on export goods, such as

by Sascha Strobl -

MICROCAPITAL BRIEF: Nigeria’s Access Bank, FMO Launch Female Leadership Programme in Ghana

Access Bank Ghana, an affiliate of Nigeria’s Access Bank Plc, recently partnered with the Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, to launch a Female Leadership Programme for entrepreneurs in Ghana.

by Aliz Crowley -

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $10m to BasisBank of Georgia for On-lending to Small, Medium-sized Enterprises (SMEs); Energy Efficiency Projects

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, has announced that it is “deepening its partnership”[1] with Georgia’s BasisBank by disbursing it a credit package of USD 31.5 million.

by Aliz Crowley -

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan up to $10m to Prasac of Cambodia for On-Lending to Agricultural Micro-, Small, Medium-sized Enterprises (MSMEs)

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it has opened a long-term credit line of up to USD 10 million to Prasac Microfinance Institution Limited, a Cambodian microfinance institution (MFI).

by Ananya Tiwari -

MICROCAPITAL BRIEF: Access Bank, Airtel Nigeria Collaborate to Launch “Access Money” Mobile Money Service

Access Bank Plc, a Nigerian commercial bank with branches in nine African countries and the UK, recently partnered with Airtel Nigeria, a subsidiary of India-based Airtel Limited, to launch a mobile money service named Access Money.

by Simon Pfanner -

MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $24.8m to Cooperative Rural Development Bank (CRDB) of Tanzania, Announces $6.2m for Technical Assistance Programmes in East Africa

The European Investment Bank (EIB), the lending bank of the European Union, recently announced that it will issue a loan worth EUR 20 million (USD 24.8 million) to the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, to support small businesses in the agriculture, manufacturing and retail sectors in Tanzania.

by Emily Teleposky -

 MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Provides $12.5m to Fibabanka of Turkey to Support Small, Medium-Sized Enterprises (SMEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), will disburse a EUR 10 million (USD 12.5 million) senior loan to Fibabanka, a Turkish commercial bank, for lending to small and medium-sized enterprises (SMEs).

by Makai McClintock -

MICROCAPITAL BRIEF: VisionFund Selling Georgian Microfinance Institution (MFI) Credo to Impact Investors AccessHolding, responsAbility, Triodos

VisionFund International, a subsidiary of US-based, Christian NGO World Vision International, recently received approval from the National Bank of Georgia to sell its stake in Microfinance Organization Credo, LLC (Credo), to “a consortium of social impact investors” including Access Microfinance Holding AG (AccessHolding), a holding company based in Germany that specializes in microfinance investments; responsAbility Investments AG (responsAbility), a company based in Zurich that primarily invests in developing economies; and Triodos Investment Management BV (Triodos), a subsidiary of Netherlands-based Triodos Bank.

by Tejas Jain -

MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $2m to Microinvest of Moldova for On-Lending to Micro-, Small Enterprises (MSEs)

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD  2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations.

by Nisha Koul -

MICROCAPITAL BRIEF: Nigerian National Identity Management Commission, MasterCard Launch eID Cards for Biometric Identity Verification, Electronic Payments

The Nigerian National Identity Management Commission (NIMC), a government initiative responsible for instituting a national identity database of Nigerian citizens and legal residents, recently announced the launch of its National eID Card pilot program in partnership with MasterCard, a US-based payment solutions company [1].

by Ben Krupp -

MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $20m to Yapi Kredi Leasing of Turkey to Support Use of Energy-Efficient Equipment

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources in Southeast Europe, has loaned EUR 15 million (USD 19.9 million) to Yapi Kredi Leasing, a Turkey-based subsidiary of Turkey’s Yapi Kredi Bank, with the aim of expanding Yapi Kredi’s “sustainable long-term energy efficient equipment financing.”