This event will focus on mechanisms through which entrepreneurial partnerships in regions such as South Asia, Southeast Asia and Africa, can solve global issues. The organizers expect approximately 80 speakers and 300 delegates discussing topics such as: (1) Agriculture; (2) Climate Change and Clean Energy;
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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
MICROCAPITAL BRIEF: Enabling Qapital Loans $10m to AccessBank for Microfinance, SME Lending in Azerbaijan
Enabling Qapital Limited, a Switzerland-based investment advisory company, recently issued a loan of AZN 17 million (USD 10 million) to AccessBank, which was founded in 2002 to provide credit and other financial services to smaller businesses and low-income families in Azerbaijan. The three-year loan is to be used
MICROCAPITAL BRIEF: DPAM, Korys Buy Equity in Incofin Investment Management to Boost Impact, Including Via Climate, Gender Funds
Belgium-based Incofin Investment Management recently sold fresh equity shares to two Belgian, family-controlled investment firms, Degroof Petercam Asset Management (DPAM) and Korys Investments. Incofin Investment Management remains
MICROCAPITAL BRIEF: OnePuhunan Borrows $10m from MicroVest to Boost Microfinance for Women in the Philippines
MicroVest, an asset manager and subsidiary of US-based DAI Global, has reported lending USD 10 million to CreditAccess Philippines Financing Company, also known as OnePuhunan, a microfinance institution (MFI) that primarily lends to low-income female entrepreneurs and artisans. The MFI was founded in 2014 and is a
MICROCAPITAL BRIEF: Tingo Mobile Launches Visa Card, TingoPay Super App, Business Portal in Africa
Tingo Mobile, a subsidiary of the US-based Tingo Group that previously focused on providing technology services to farmers in Africa, is now targeting business owners of all types with its recently announced Tingo Visa card, TingoPay app and TingoPay business portal. Through these products, which leverage the firm’s new partnership with US-based digital payments company
MICROCAPITAL BRIEF: Incofin Launches Water Access Acceleration Fund (W2AF) with $39m to Invest in Africa, Asia
The Belgium-based investment firm Incofin recently launched the Water Access Acceleration Fund (W2AF), a private equity fund with the objective of reaching 30 million people with access to safe drinking water, primarily in Africa and Asia. In particular
MICROCAPITAL BRIEF: Semaai Raises Equity from Accion, XA Network, Beenext, Surge for Technology Supporting Farmers, Agricultural MSMEs in Indonesia
Semaai, an Indonesia-based agricultural technology firm, recently obtained bridge funding in an equity raise led by Accion Venture Lab, a unit of US-based nonprofit Accion, and XA Network, a Singapore-based venture capital firm, with ongoing investors Beenext and Surge increasing their exposure to Semaai. Although the amount invested by each party has not been released, the goal
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
SPECIAL REPORT: Looking Back to Plan Ahead – The Year of AFISAR
AFISAR© (the Agents for Impact Sustainability Alignment Rating) builds trust and credibility in the microfinance sector. With our partners, we engage in an active rating process, inspiring discussion and increasing awareness and understanding of the UN’s SDGs and environmental, social and governance (ESG) factors, taking a deep dive into the potential of finance to transform people’s lives, especially the lives of members of vulnerable groups. Placing active dialogue at the centre of the AFISAR© rating process, we address sustainability with strategic decision-makers and support our partners to further align their operations to the SDGs.
Having clocked five years of rating experience, culminating with the Year of AFISAR© in 2022, we would like to share some reflections:
Local presence is key Our rating team has grown bigger and stronger: we have a new colleague, Abhinav Soni, who is based in
MICROFINANCE EVENT: Future of Fintech; June 14-15, 2023; Riyadh, Saudi Arabia; NEW DATES
Originally scheduled to take place starting March 1, this event will focus on “disruptive ideas from across the fintech ecosystem.” The two-day event offers online and in-person sessions including: (1) Evaluating Saudi Arabia’s FinTech [Financial Technology] Venture Activity – Key Drivers and Factors; (2) Offering Financial Flexibility to
MICROFINANCE EVENT: Islamic Finance & Banking Summit; September 27-28, 2023; Dubai, UAE – NEW DATES
Originally scheduled to take place beginning February 27 in Saudi Arabia (and then May 31 in UAE), this two-day event is organized with the goal of developing strategies for elevating the Islamic finance industry. The agenda offers sessions – in-person and on-line – such as: (1) Economic Growth, FDI [Foreign Direct Investment] & Islamic Banking Developments; (2) Leveraging
MICROCAPITAL BRIEF: Zanaco Borrows $50m from BII to Support MSMEs, Climate-change Mitigation in Zambia
Zambia National Commercial Bank (Zanaco) recently borrowed USD 50 million from British International Investment (BII), the UK government’s development finance institution, with the goal of funding micro-, small and medium-size enterprises (MSMEs) as well as climate-focused initiatives such as renewable energy generation. BII is looking to
MICROCAPITAL BRIEF: MicroVest Loans $4.5m to Financiera FAMA for MSMEs in Nicaragua
US-based asset manager MicroVest recently reported disbursing a loan of USD 4.5 million to Financiera FAMA, a microfinance institution (MFI) that was founded as Fundación para el Apoyo a la Microempresa. Established in 1991 and headquartered in the city of Managua, FAMA provides
MICROCAPITAL BRIEF: Goodwell Launches uMunthu II Fund for SMEs in Africa
Netherlands-based Goodwell Investments recently launched the uMunthu II fund with USD 52 million raised and a goal for it to reach three times that volume. The fund will target about 35 small and medium-sized businesses reaching underserved consumers in Africa, including about one third financial services providers, one quarter
SPECIAL REPORT: Sounding Alarm Bells on Financial Health: Inclusion Is Not Sufficient
On Friday in Luxembourg, a panel of experts sounded alarm bells on trends in financial health. Amrik Heyer of FSD Kenya noted that financial health in Kenya, for example, has gone down significantly since 2016, the first year for which her data are available. This has occurred while usage of digital financial services (DFS) has gone up.
The panel was adamant that financial inclusion alone does not boost financial health, which encompasses the ability to meet current needs, absorb shocks and pursue financial goals. In fact, Jaspreet Singh of the UN Capital Development Fund argued that
SPECIAL REPORT: How to Achieve Responsible Digital Financial Services: European Microfinance Week Opens
At the opening plenary of European Microfinance Week, where over 500 attendees are gathering now in-person and online, Tidhar Wald of the UN’s Better Than Cash Alliance noted that over 1 billion more people worldwide have achieved financial inclusion over the past decade. While this has helped some to boost their livelihoods, many have accessed financial services via digital services, which carry different risks than in-person services. Data protection is an obvious example, as more client data is being digitized, and fraud is on the rise. Other risks, even though well-known to providers of in-person financial services, require different
MICROCAPITAL BRIEF: Gojo Raises $48m in Equity for Microfinance, Eyeing Digitalization in Asia, Expansion to Africa
Gojo and Company, an investor in financial inclusion in Asia, recently raised USD 48 million in a Series E equity round led by three of its ongoing investors, which were joined by 18 new investment firms and several individual investors. The plan for the fresh cash includes “strengthening the