by Simrun Kothari -

MICROCAPITAL BRIEF: Nordic Microfinance Initiative Raises $5m from Lauritzen Fonden to Invest in Women in Africa, Asia

Denmark-based Lauritzen Fonden recently invested USD 5 million in “Fund IV” of the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that invests in microfinance institutions and agricultural initiatives in developing countries. The new investment is specific to microfinance, mainly for women in Africa and Asia.

Lauritzen describes itself as a “commercial foundation.” It earns income from shipping concerns and investments in real estate, technology, software and equipment and then disburses approximately DKK 40 million (USD 6 million) per year to support youth and

by Madigan Ruch -

MICROCAPITAL BRIEF: Mobile Money Transactions in Rwanda Quadruple, Cash-outs Plummet After NBR Mandates Free Digital Payments Due to Pandemic

Airtel, an India-based telecommunications company that operates in Rwanda and 17 other countries in Africa and Asia, recently reported “a spike in data, mobile payments and voice [usage] during the lockdown” imposed by the Rwandan government in response to the COVID-19 pandemic. The increase in mobile payments was encouraged by a March 15 instruction from the National Bank of Rwanda (NBR), the country’s central bank, that mobile network operators (MNOs) in

by Simrun Kothari -

MICROCAPITAL BRIEF: Genie Enables 14m Bank of Ceylon Customers to Upload Funds for Digital Payments to Retailers, Utilities, Schools, Friends, Family in Sri Lanka

The operators of Genie, an app for performing financial transactions in Sri Lanka, recently partnered with the state-owned Bank of Ceylon (BOC) to allow the 14 million customers of BOC to upload funds to Genie, which can “securely hold credit and debit cards, current and savings accounts and eZ Cash accounts to promote seamless payment experiences.” Genie and the mobile wallet eZ Cash are

by Jessica McLeod -

MICROCAPITAL BRIEF: Symbiotics Raises $7.8m for Pan Asia Bank of Sri Lanka in Sale of “Green Bonds” to Investors Including SEB

Symbiotics, a Switzerland-based manager of international investments in small business, recently issued a four-year loan of LKR 1.42 billion (USD 7.75 million) to Sri Lanka’s Pan Asia Banking Corporation for on-lending to projects with reduced effects on the environment in sectors such as energy and agriculture. Symbiotics raised the money through an issue of “green” bonds. Of the bond buyers,

by Madigan Ruch -

MICROCAPITAL BRIEF: US Development Finance Corporation (DFC) Approves $1b for Health, Food Security, Financial Services, Small Business

The government-backed US International Development Finance Corporation (DFC) recently approved the disbursal of a total of USD 1 billion to 12 projects in emerging markets in Africa, Latin America and the Indo-Pacific region that seek to strengthen health systems; food security; employment opportunities; technology; education; and access to financial services for underserved groups such as women and small and medium-sized enterprises (SMEs). Sixty percent of the funding is

by Madigan Ruch -

MICROCAPITAL BRIEF: US International Development Finance Corporation (DFC) Approves $4b “Rapid Response Liquidity Facility” for Microfinance, Other Ongoing Projects Impacted by COVID-19

The government-backed US International Development Finance Corporation (DFC) recently allocated USD 4 billion to a “Rapid Response Liquidity Facility,” through which it will provide additional funding to in-process DFC projects that have been impacted by COVID-19. This financing will go to a range of current DFC clients, including microfinance institutions (MFIs) that are struggling to collect retail loan repayments, infrastructure projects experiencing delays, and hospitality businesses that have experienced “precipitous revenue losses.” The intent is

by Jessica McLeod -

MICROCAPITAL BRIEF: 26 Inclusive Finance Players Pledge to Support Microfinance Institutions (MFIs), Clients Throughout Pandemic

At the initiative of the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation, microfinance lenders and other operators in the inclusive finance sector have agreed to a set of “Key Principles to Protect Microfinance Institutions and Their Clients in the COVID-19 Crisis.” The commitment involves measures including: operating in a customer-centric manner, protecting staff members, sharing

by Jessica McLeod -

MICROCAPITAL BRIEF: Dai-ichi Life Insurance Company Invests $19m in Microfinance for Women via Grameen Crédit Agricole Foundation

The Japan-based Dai-ichi Life Insurance Company recently invested JPY 2 billion (USD 18.6 million) in a “Microfinance and Gender Loan” scheme, which was arranged by Crédit Agricole Corporate and Investment Bank (CIB), a member of the France-based Crédit Agricole Group. The funding will allow the Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, “to support microfinance institutions focusing [on]

by Andrew Janni -

MICROCAPITAL BRIEF: Accion Venture Lab Takes Equity Stake in Pintek of Indonesia, Provider of Online Loans to Students, Schools

Accion Venture Lab, a unit of US-based NGO Accion, recently placed an equity investment in Indonesian financial technology (fintech) firm Pintek. While the size and price of the stake remain confidential, the typical size of an investment by Accion Venture Lab is USD 300,000 to USD 500,000. Pintek lends to private universities, secondary schools and

by Madigan Ruch -

MICROCAPITAL BRIEF: Accion Venture Lab Takes Equity Stake in Colombian Fintech R5, Provider of Online Loans, Car Insurance

Accion Venture Lab, a unit of US-based NGO Accion, recently purchased an unspecified amount of equity in Colombian financial technology (fintech) firm R5, an online insurance and lending platform. Most of R5’s borrowers pledge vehicles as collateral and use the loan proceeds for

by MicroCapital Research -

MICROFINANCE PAPER WRAP-UP: “The Intellecap Lighthouse – An Anthology of Ideas & Insights” on Agriculture, Healthcare, Impact Investing, Sustainability

Published by the Aavishkaar Group’s Intellecap, April 2020, 57 pages, available at https://www.intellecap.com/wp-content/uploads/2020/04/Intellecap_Lighthouse_2_booklet.pdf

This document offers perspectives relating to the agriculture, “circular apparel,” energy, financial services, gender-lens investing and healthcare sectors. For example, a section on

by Madigan Ruch -

MICROCAPITAL BRIEF: Enda Tamweel, FMO Ink $65m Syndicated Loan for Education, Enterprise, Housing Microfinance in Tunisia with Support from TCX, AATIF, ASN, Microbuild, BlueOrchard

Enda Tamweel, a Tunisian microfinance institution, and the Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently finalized a syndicated loan agreement denominated in Tunisian dinars equivalent to EUR 60 million (USD 65 million). Two thirds of the funding will flow to Enda via

by Will Boudreau -

MICROFINANCE EVENT: LendIt Fintech USA; September 29 – October 1, 2020; NOW VIRTUAL

Originally scheduled to take place in the US city of New York, this event will now be virtual, focusing on developments in the financial technology (fintech) industry through a series of “tracks,” each of which offers about six separate sessions. The opening day offers tracks such as: Credit and Underwriting Innovation; Applying Fintech to Financial Health; Investing: Equity and Fintech Valuation; and The Fintech Lending Triple

by MicroCapital Research -

MICROFINANCE PAPER WRAP-UP: “Her Home: Housing Finance for Women,” published by IFC

By Henriette Kolb et al, published by the International Finance Corporation (IFC), November 2019, 68 pages, available at https://www.ifc.org/wps/wcm/connect/industry_ext_content/ifc_external_corporate_site/financial+institutions/resources/her+home+-+housing+finance+for+women

The authors of this paper analysed the housing finance markets in Colombia, India and Kenya, identifying barriers that women face in accessing loans for purchases, construction and improvements of housing. The authors observed that the rate of

by Chee Meng Ng -

MICROCAPITAL BRIEF: Airtel, MTN, UNCDF Partner to Boost Digital Financial Services Ensibuuko Tech, Mobipay Agrosys in Rural Uganda

The UN Capital Development Fund (UNCDF) recently announced a set of partnerships to boost financial inclusion in the Northern and West Nile regions of Uganda. UNCDF will work with

by Chee Meng Ng -

MICROCAPITAL BRIEF: Fintech Liwwa Raises $21m in Debt, Equity for SME Lending Platform in Egypt, Jordan from Investors Including FMO, 500 Startups, Edgo, EFG-EV, Chris Larsen, Wamda

Jordan-based financial technology (fintech) firm Liwwa recently borrowed USD 15 million to expand its facilitation of loans to small and medium-sized enterprises (SMEs) in Egypt and Jordan. Liwwa also raised equity totaling USD 6 million from its previous investors Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), the Netherlands Development Finance Company; Jordan-based Bank al Etihad; Jordan-based Dash Ventures; and US-based VC firm

by Chee Meng Ng -

MICROCAPITAL BRIEF: Quona Capital Closes Accion Quona Inclusion Fund with $203m for Fintechs

Venture capital firm Quona Capital, which focuses on financial inclusion via technology in emerging markets, recently closed its second fund, the Accion Quona Inclusion Fund, at a volume of USD 203 million. Accion, a US-based nonprofit, is the anchor investor in the fund, which had an initial target of

by Will Boudreau -

MICROCAPITAL BRIEF: Invest In Visions’ IIV Mikrofinanzfonds Refinances Alliance Myanmar with $3m Loan for Rural Microfinance

Germany-based Invest in Visions (IIV) recently disbursed a loan of USD 3 million from its fund IIV Mikrofinanzfonds to Alliance Myanmar, a microfinance institution in Myanmar. Alliance Myanmar is using the funds to