Mozido, a US-based mobile payment and marketing software company, recently raised USD 185 million in capital in the first round of its Series B financing to expand its mobile and payment services in Africa, China, Europe, India, Latin America and the Middle East.
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MICROCAPITAL BRIEF: US Agency for International Development (USAID) to Provide $71m to Government of India for Banking, Clean Energy, Water and Sanitation
The US Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, recently committed up to USD 71 million to the Government of India to support the country’s banking, clean energy and water and sanitation sectors.
MICROCAPITAL BRIEF: Center for Agriculture and Rural Development (CARD) Mutually Reinforcing Institutions, Microcredit Summit Campaign, Freedom from Hunger Partner to Launch “Healthy Mothers, Healthy Babies” in Effort to Reach 600k Filipino Women
The Center for Agriculture and Rural Development Mutually Reinforcing Institutions (CARD MRI), a group of organizations in the Philippines that includes CARD Bank; the Microcredit Summit Campaign, a US-based advocacy organization; and Freedom from Hunger, a US-based non-governmental organization (NGO) that offers financial and health protection services in 23 countries, launched the program “Healthy Mothers, Healthy Babies,” which is expected to provide maternal health services to 600,000 Filipino women.
MICROFINANCE PAPER WRAP-UP: “The Road to Inclusion: A Look at the Financially Excluded and Underserved;” Published by MasterCard
“The Road to Inclusion: A Look at the Financially Excluded and Underserved;” Published by MasterCard; May 2014; 18 pages; available at http://newsroom.mastercard.com/asia-pacific/documents/the-road-to-inclusion-a-look-at-the-financially-excluded-and-underserved
This report, published by US-based financial services corporation MasterCard, seeks to shed light on how people manage with limited financial services in Egypt, India, Indonesia, Nigeria, the Philippines and Vietnam.
MICROFINANCE PAPER WRAP-UP: “Does Good Client Protection Impact Financial Performance?”; by B. Perez-Rocha, A.G.F. Hoepner, L. Spaggiari, C. Lapenu and B. Brusky; Published by European Microfinance Platform
“Does Good Client Protection Impact Financial Performance?”; by B. Perez-Rocha, A.G.F. Hoepner, L. Spaggiari, C. Lapenu and B. Brusky in collaboration with the European Microfinance Platform (e-MFP) Making Microfinance Responsible Action Group; May 2014; 28 pages; available at http://www.e-mfp.eu/sites/default/files/resources/2014/05/Brief_No_4_2014_web.pdf
This paper explores the relationship between the financial performance of microfinance institutions (MFIs) and the Client Protection Principles (CPP) that are promoted by the Smart Campaign, a US-based consumer protection initiative targeting microfinance clients worldwide.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Announces $1m in Advisory Services to Airtel Zambia to Strengthen Financial Inclusion
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced that it will enter into an advisory services agreement with Airtel Zambia, a subsidiary of the Indian telecommunications company Bharti Airtel.
MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana Partners with Microfinance Institutions (MFIs) in Ghana to Improve Mobile Money Systems
Mobile Telecommunications Network (MTN) Ghana, the Ghanaian arm of South Africa-based MTN, reportedly has partnered with several unspecified microfinance institutions (MFIs) in Ghana to allow the MFIs’ customers to use the MTN Mobile Money service to make loan payments.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently signed a cooperation agreement with the Chadian Ministry of Planning and International Cooperation, the governmental body charged with organizing and implementing development projects in the country, to support the development of leasing options for small and medium-sized enterprises (SMEs) in Chad.
MICROCAPITAL BRIEF: US-based Microfinance Information Exchange (MIX) Appoints Jeffrey Binstock as CEO
The Microfinance Information Exchange (MIX), a US-based nonprofit that provides performance data and analysis on microfinance institutions (MFIs) and their funders, networks and service providers, recently announced the appointment of Mr Jeffrey Binstock as the organization’s new CEO.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits $15m to Private Equity Fund EuroMena III to Support Small, Medium-sized Enterprises (SMEs) in Middle East, North Africa
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has committed USD 15 million to EuroMena III, a 7-year closed-end private equity fund that aims to invest in small and medium-sized enterprises (SMEs) in Egypt, Lebanon and Jordan.
MICROCAPITAL BRIEF: Bank of Punjab, MasterCard Launch Electronic Government-To-Person Social Security Payment System in Pakistan
The Bank of Punjab, which is owned by the government of the Pakistani province of Punjab, and MasterCard Incorporated, a US-based payments and technology company with operations in 210 countries and territories, recently announced a “Social Security Program” to convert government assistance to individuals to electronic payments.
MICROCAPITAL BRIEF: Opportunity Bank Serbia; MDO Arvand of Tajikistan; Bai Tushum, Kompanion of Kyrgyzstan Receive Smart Campaign Client Protection Certification
The Smart Campaign, a consumer-protection initiative launched in 2010 by the US-based nonprofit Accion, recently granted its “Smart Certification” to four microfinance institutions (MFIs): Opportunity Bank Serbia, which is controlled by US-based NGO Opportunity International; Microcredit Deposit-Taking Organizaition (MDO) Arvand, an MFI in Tajikistan that provides financial services to entrepreneurs; Bai Tushum Bank, a microfinance institution serving entrepreneurs in Kyrgyzstan; and Kompanion, an MFI that offers “development products and services”[1] to entrepreneurs and individuals in Kyrgyzstan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Signs Deals with AB Bank Rwanda, IHS Holding of Nigeria, Urwego Opportunity Bank of Rwanda to Expand Microfinance, Telecommunications
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has signed deals with AB Bank Rwanda (ABR), a microfinance bank (MFB) affiliated with Access Microfinance Holding of Germany; IHS Holding Limited, a mobile services infrastructure company based in Nigeria that operates in five African countries; and Urwego Opportunity Bank (UOB), a foreign-owned Rwandan MFB, in an effort to increase access to telecommunications and financial opportunities in Rwanda.
MICROFINANCE EVENT: 2014 Small Enterprise Education and Promotion (SEEP) Annual Conference, Arlington, Virginia, USA, September 22 – 25, 2014
Event Name: 2014 Small Enterprise Education and Promotion (SEEP) Annual Conference
Event Date: September 22 – 25, 2014
Event Location: Renaissance Arlington Capital View Hotel, Arlington, Virginia, USA
MICROFINANCE PAPER WRAP-UP: “Water, Sanitation and Microfinance Toolkit 1: Introduction to Opportunities in Water, Sanitation and Hygiene Finance,” Published by Water.org, MicroSave
“Water, Sanitation and Microfinance Toolkit 1: Introduction to Opportunities in Water, Sanitation and Hygiene Finance;” published by Water.org and MicroSave, 2013, 75 pages, available at http://www.washmicrofinance.org/
Water insecurity and unhygienic sanitation practices pose significant health and financial risks in the developing world.
MICROCAPITAL BRIEF: CGAP Branchless Banking Challenge Fund for West Africa Accepting Entries through March 31, 2014
CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center that aims to facilitate the provision of financial access to poor people, is accepting applications for the Branchless Banking Challenge Fund, a contest to encourage development of innovative solutions to challenges faced by the branchless banking market in West Africa.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $1.5m to FINCA MDO for Microlending in Tajikistan
IFC, a US-based international financial institution and a member of the US-based World Bank Group, plans to loan USD 1.5 million to Foundation for International Community Assistance (FINCA) Microcredit Deposit Organization (MDO), a microfinance institution (MFI) based in Tajikistan that is a part of the US-based, nonprofit FINCA International microfinance network.
MICROFINANCE PUBLICATION ROUND-UP: Partnerships in Mobile Financial Services; Africa Microfinance Pricing Reports; Impact Assessment of EFC Zambia
“Partnerships in Mobile Financial Services: Factors for Success;” by Mark Flaming, Aiaze Mitha, Michel Hanouch, Peter Zetterli and Greta Bull; published by the MasterCard Foundation and the International Finance Corporation (IFC); October 2013; 18 pages; available at http://www.ifc.org/wps/wcm/connect/88486280414940acb54ab79e78015671/Partnerships+in+Mobile+Financial+Services.pdf?MOD=AJPERES
This report presents findings from a study exploring the factors that determine the success of business partnerships among telecommunication firms, financial institutions and other organizations in providing mobile financial services.