French-based PlaNet Finance, umbrella organization of the PlaNet Microfinance Fund, has teamed up with the United Nations Development Programme (UNDP) to launch the Programme for the Support of the Associates and Communities struggling against HIV/AIDS (PAMAC). The program, whose goal is to provide guarantee funds to people with HIV/AIDS, began in January of 2007 in Burkina Faso, a West African landlocked nation with a population of 13.2 mn, 2.3 percent of which are infected with AIDS.
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United Nations Development Program Grants $32.3 million to the Zimbabwe Ministry of Small and Medium Enterprises, in Support of Microfinance Initiatives
The United Nations Development Program (UNDP) will assign the grant (through the Ministry of Small and Medium Enterprises) to three institutions for disbursement: Small Enterprises Development Corporation (Sedco), Punditso Microfinance and Woman Development Savings and Credit Union. They will receive $19 million, $3.8 million, and $9.5 million, respectively, according to The Harare Herald. The need to create employment for youth and women, as well as transparency in all microcredit transactions, was stressed by Minister Mrs Sithembiso Nyoni.
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United Nations Development Programme Supports Microfinance Investment in Zimbabwe with $110,000
Zimbabwe’s Ministry of Small and Medium Enterprises (SME) Development received USD $110,000 from the United Nations Development Programme (UNDP) for lending to informal enterprises. 3 organizations åö Sedco, Punditso Microfinance, and Women Savings and Credit Union åö will disburse the funds to 10 microfinance institutions.
MICROCAPITAL BRIEF: Energy Entrepreneurs Growth Fund (EEGF) Raises $125m to Increase Access to Energy in Sub-Saharan Africa
The Energy Entrepreneurs Growth Fund (EEGF), an initiative of the UK-based Shell Foundation and Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO), recently closed a fundraising round at USD 125 million. EEGF is intended to increase access to renewable energy in
MICROCAPITAL BRIEF: Rite Water of India Nets $8m in Equity from Incofin via Water Access Acceleration Fund
Incofin, a Belgium-based investor in lower-income countries, recently invested EUR 7.5 million (USD 7.8 million) through its Water Access Acceleration Fund (W2AF) in Rite Water Solutions, a company seeking to improve access to clean drinking water in India. Founded in 2006, Rite Water specializes in
MICROFINANCE EVENT: ANDE Annual Conference; September 12-14, 2023; Accra, Ghana
This event will observe the “half-way point” towards the 2030 target of achieving the 17 Sustainable Development Goals (SDGs) of the United Nations. It is themed “Accelerating Action: Small Business Solutions and the SDGs,” and is to focus on cataloging the progress and ongoing needs of small and
MICROCAPITAL BRIEF: AVPA, Investorflow.org, Forge Partnership to Develop Impact Investments in Africa, Resulting in Expanding Membership Base, Increasing Capital Flow in Africa, and Rising Overall Investor Collaboration
African Venture Philanthropy Alliance (AVPA), a Kenya-based “Pan-African network for social investors,” and Investorflow.org, a US-based platform that helps impact investors find co-investors, recently announced a partnership. Dr Frank Aswani, the CEO of AVPA, stated that the tie-up “will allow AVPA to add another 500-plus
MICROCAPITAL BRIEF: Dominican Republic-Based Banco Caribe to Receive $2.64m, Technical Assistance from Oikocredit to Support SMEs
Netherlands-based cooperative Oikocredit recently invested DOP 150 million (USD 2.64 million) in Dominican Republic-based Banco Caribe to support the country’s small and medium-sized enterprises (SMEs), with the hope that the infusion will “further [motivate] responsible investments in the region.” Additionally, Oikocredit will provide Banco Caribe with technical
MICROCAPITAL BRIEF: UNIDO Incubates Agro-processing Training Center, Moving Groundnut, Sesame Farmers Up Oils Value Chain in South Sudan
The UN Industrial Development Organization (UNIDO) recently handed over a program for developing agricultural value chains to local managers in South Sudan. Since its launch in 2019, 250 farmers in the country have enrolled, learning entrepreneurship skills and
MICROCAPITAL BRIEF: India-UN Development Partnership Fund to Provide $850k for Climate-disaster Index Insurance in Fiji
The government of India and the UN Office for South-South Cooperation (UNOSSC), through the India-UN Development Partnership Fund that they co-manage, recently agreed to contribute FJD 1.8 million (USD 850,000) to implement the Developing Climate Disaster Risk Financing Framework and Parametric Insurance program in Fiji. The funding is intended to mitigate
MICROCAPITAL BRIEF: Mobi-Changa, ThundaFund, UNCDF Crowdfunding Platform to Help Youth, Women in The Gambia Raise Money for MSMEs, Build Financial Histories
As part of the EU-funded “Jobs, Skills and Finance (JSF) for Youth and Women in The Gambia Programme,” the UN Capital Development Fund (UNCDF) is partnering with crowdfunding platforms Mobi-Changa and Thundafund to develop a new fundraising platform. The service will allow individuals to donate to and invest in micro-, small and medium-sized enterprises (MSMEs)
MICROCAPITAL BRIEF: CDC Group of UK Investing $2.6b in Africa Over 2 Years; $387m Announced for MSMEs, Mid-caps, Renewable Energy, Technology
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has committed to investing GBP 2 billion (USD 2.6 billion) in African businesses over the next two years. This follows its recent announcement
MICROCAPITAL BRIEF: MetLife Foundation, MicroSave, UNCDF Expand i3 Program to Improve Financial Health Through Digital Services in China
The UN Capital Development Fund (UNCDF), a US-based agency of the UN that focuses on financial inclusion and other forms of “sustainable development,” recently expanded the i3 program to China. The program, which already was operating in Bangladesh, Malaysia and Vietnam,
MICROFINANCE EVENT: Women’s World Banking: Making Finance Work for Women; November 7, 2018; New York, USA
Summary of Event: Making Finance Work for Women will include discussions on increasing female involvement in the financial industry and creating more economic opportunities for women worldwide. Representatives from the financial services, philanthropy, and technology sectors will discuss topics including Financing Women in the Supply Chain, Investing with a Gender Lens, The Role of Technology in Powering Women’s Financial Inclusion, and Powering Economies by Investing in Women.
The presenters include
MICROCAPITAL BRIEF: ILO’s Impact Insurance Facility, Prudential Foundation to Develop Microinsurance Services in Asia; Provide Technical Support for Insurers in Latin America
The Impact Insurance Facility (IIF) of the UN’s International Labour Office (ILO) and the Prudential Financial Incorporated (PFI) Foundation, a unit of the US-based financial services company PFI, recently announced a program intended to: (1) develop microinsurance products for low-income households as well as small and medium-sized enterprises (SMEs) active in Asia; and (2) provide technical support to four financial service providers operating in Latin American countries.
MICROCAPITAL BRIEF: World Bank Group, Committee on Payments & Market Infrastructures (CPMI), UN’s International Telecommunication Union Launch “Financial Inclusion Global Initiative” to Study Digital Finance
The World Bank Group, the Switzerland-based Committee on Payments and Market Infrastructures (CPMI) and the UN’s International Telecommunication Union (ITU) recently introduced
MICROFINANCE EVENT: 3rd African International Conference on Islamic Finance; October 16-17, 2017; Abuja, Nigeria
Event Name: Third African International Conference on Islamic Finance
Event Location: Transcorp Hilton Abuja; Abuja, Nigeria
Summary of Event: This conference aims to highlight the ethics and impact of Islamic finance, primarily in West Africa. The agenda topics include ethical investment; regulations; financial technology; the alignment between Islamic finance and United Nations Sustainable Development Goals; and Islamic capital markets, including sukuk (bond) markets. One of the major ways that Islamic lending differs from mainstream loans is the use of mechanisms such as the sharing of profit and loss in lieu of conventional interest payments.
MICROCAPITAL BRIEF: Moeda Introducing Cryptocurrency Aimed at Facilitating Financial Inclusion after $5m “Initial Coin Offering”
Moeda, a cooperative funded by Brazil-based Cresol, Green Cross Brazil and Unicafes, recently announced the launch