Accion Venture Lab, the seed-stage investment initiative of US-based NGO Accion, recently sold its stake in Aye Finance, an India-based lender, to A91 Partners, an Indian venture capital fund. Accion Venture Lab bought a 15-percent stake in Aye in 2015 and
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MICROCAPITAL BRIEF: FMO Invests $7.5m in Acumen Resilient Agriculture Fund to Finance Early-stage Enterprises in Africa
The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently invested USD 7.5 million in the Acumen Resilient Agriculture Fund (ARAF), an entity
MICROFINANCE EVENT: Sankalp Africa Summit; February 27 – 28, 2020; Nairobi, Kenya
The aim for the seventh Sankalp Africa Summit is to “discuss, define, and drive forward the critical levers of entrepreneurial success for the Sustainable Development Goals to be achieved by 2030 in Africa.” The summit will focus on challenges,
SPECIAL REPORT: “Trend Toward Rigor,” Microfinance Barometer, Financial Inclusion Compass Offer Views of the Past, Future at European Microfinance Week
At 
this week’s session titled “Looking Back / Looking Ahead” at European Microfinance Week, the European Microfinance Platform (e-MFP) officially launched the second Financial Inclusion Compass, a survey indicating the top trends in financial inclusion are: (1) digital transformation (institutional-side); (2) client protection; (3) digital innovation (client-side); (4) regulatory environments; and (5) social performance / impact measurement. Meanwhile, the document identifies the following as top “areas of focus:” (1) agri-finance; (2) climate change; (3) finance for small and medium-sized enterprises (SMEs); (4) finance for displaced populations; and (5) finance for youth.
Sam Mendelson of e-MFP notes that financial services providers (FSPs) responding to the Compass are more interested in
MICROCAPITAL BRIEF: MFIs in Africa, Asia, Latin America Borrow $42m from C-Quadrat Dual Return Vision Microfinance Fund, Including ASA International’s Institutions in Ghana, Uganda
Two microfinance institutions (MFIs) in the ASA International network, those in Ghana and Uganda, recently accepted local-currency loans from the Dual Return Vision Microfinance-Local Currency sub-fund of Austria-based C-Quadrat Asset Management. That sub-fund, together with the Dual Return Vision Microfinance sub-fund issued a total equivalent to USD 42 million during October. The other borrowing MFIs are located in Cambodia,
SPECIAL REPORT: Solar Kits for Reselling Power, Internet Access; Staff Training by Subscription; Free Business Planning Software on Offer as 30 Firms Showcase Inclusive Finance Products at SAM Innovators’ Village (Part Two)
Thirty 
organizations shared their latest products during the Innovators’ Village at the SAM conference held recently in Burkina Faso. Among these was Qotto, a provider of kits that bring solar power and internet to off-grid households. The kits include battery packs and can be used to run appliances such as lamps, televisions and telephone chargers. The system includes an app for tracking usage and allowing Qotto and the owner to share revenue from selling phone recharges or wireless internet access to neighbors.
Eclectics International offers a core banking system for financial services providers (FSPs) that was designed “by Africans for the African market.” Its features allow for loan disbursal via mobile money, as well as integration with
MICROCAPITAL BRIEF: Agora Microfinance Zambia (AMZ) Borrows $324k from Grameen Credit Agricole Foundation
Agora Microfinance Zambia (AMZ) recently borrowed the local-currency equivalent of USD 324,000 from the Luxembourg-based Grameen Credit Agricole (GCA) Foundation. The loan has a term of three years. During 2018, the microfinance institution (MFI) began offering
SPECIAL REPORT: Climate-change Resilience Takes Centre Stage at European Microfinance Week 2019
As a proud co-organiser of the EUR 100,000 European Microfinance Award (EMA), e-MFP leverages European Microfinance Week to spot-light the theme of the Award each year. With EMA 2019 focused on Strengthening Resilience to Climate Change, the many ways that financial inclusion stakeholders are helping vulnerable populations adapt to climate change are at the forefront of the European Microfinance Week programme. If your work involves addressing climate change through financial inclusion, #EMW2019 is not to be missed!
The opening plenary, titled Strengthening Resilience to Climate Change, features the three finalists for EMA 2019:
MICROCAPITAL BRIEF: RBI Raises Caps on Microfinance Loan Size, Microborrower Income
The Reserve Bank of India (RBI), India’s central banking authority, recently raised the income limit for households to be eligible for microfinance loans from INR 100,000 (USD 1,400) to INR 125,000 (USD 1,760) in rural areas and from INR 160,000 (USD 2,250) to INR 200,000 (USD 2,800) in urban areas. RBI also increased the
MICROCAPITAL BRIEF: Suicides in Sri Lanka Blamed on Microfinance Loans, Regulation Criticized
At least 170 people in Sri Lanka reportedly took their own lives during 2018 after being unable to repay their microloan debt. Interest rates in the country have ranged up to
MICROCAPITAL BRIEF: Inclusivity Solutions, Provider of Insurance Technology (Insurtech) in Cote d’Ivoire, Kenya and Rwanda, Raises Equity Investments from Goodwell, Allan Gray, RGAx
Inclusivity Solutions, a South Africa-based provider of digital insurance services, recently raised USD 1.5 million in an equity round led by Goodwell Investments, a Netherlands-based investor in “inclusive growth” in Africa and India. Inclusivity has distributed insurance policies to 530,000 people via wireless service providers Cote d’Ivoire, Kenya and Rwanda. The firm plans to use its new cash to grow in these markets as well as to expand to other countries.
The managing partner of Goodwell Investments, Wim van der Beek, said, “…we believe that collaborative insurtech solutions like Inclusivity Solutions are best positioned to reach large numbers of underserved consumers” because of
MICROFINANCE PAPER WRAP-UP: “Charting the Customer Journey in the Digital Age,” Published by CFI
By Pablo Anton-Diaz and Amin Khairy, published by the Center for Financial Inclusion (CFI) at Accion, May 2019, 15 pages, available at https://www.centerforfinancialinclusion.org/charting-the-customer-journey-in-the-digital-age
This report focuses on how financial institutions can “create effective digital customer journeys for underserved clients.” The authors identify the following stages of such journeys: 1) “the pre-purchase stage,” in which customers select the financial product
MICROCAPITAL BRIEF: LeapFrog Emerging Consumer Fund III Closes with $700m for Equity Placements in Financial, Healthcare Services in Africa, Asia
LeapFrog Investments, a Mauritius-based private equity firm, recently announced the closing of its LeapFrog Emerging Consumer Fund III at a volume of USD 700 million. LeapFrog III will pursue equity investments in businesses that offer financial and healthcare services in emerging markets in Africa and Asia. The new fund is LeapFrog’s third and largest fund with its two preceding funds having
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,
MICROCAPITAL BRIEF: Global Index Insurance Facility (GIIF) Offers $270k in Prizes to Insurers in South, East Asia via Agriculture Insurtech Innovation Challenge DEADLINE EXTENDED
Through May 15 (formerly April 30), providers of technology services that support agriculture index insurance in South Asia and East Asia may apply for nine prizes of up to USD 50,000 each. Index insurance is a mechanism by which covered individuals are reimbursed for losses when weather or other conditions exceed pre-established limits, rather than based on individuals’ losses.
The competition is divided into the following themes: (1) data and analytics; (2) sales and distribution; and (3) premiums and claims. The winners will be selected after the finalists
MICROFINANCE EVENT: 6th Sankalp Africa Summit; February 21-22, 2019; Nairobi, Kenya
This summit will focus on promoting social entrepreneurship and impact investing, which the event organizers describe as “using business as a tool to achieve social impact” while also generating profits. The themes for the first and second
MICROFINANCE PAPER WRAP UP: “Understanding the Impact of Demonetization on Bank Account Holders from Low Income Households,” Published by IFMR LEAD
This is a summary of a paper by Preethi Rao, Suraj Nair and Shruti Korada; published by Leveraging Evidence for Access and Development (LEAD), a unit of the Institute for Financial Management and Research (IFMR); April 2018, 46 pages, available at:
http://ifmrlead.org/wp-content/uploads/2018/08/IFMR-LEAD-Demonetization-Study-Final-Report.pdf
This study reviews the short- and long-term impacts on low-income households resulting from the demonetization of Indian currency in 2016. The authors collected data
MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Fund Lends in 11 Countries, Including for Women in Bolivia, Farmers in China
C-Quadrat Asset Management, a unit of Austria-based C-Quadrat Investment, recently informed MicroCapital that it disbursed loans to microfinance institutions (MFIs) in 11 countries during December 2018. The identities of the MFIs and the amount each borrowed remain confidential.
One of the MFIs is a Bolivian NGO providing health and financial services to women via 70 urban and rural locations. The MFI offers loans, financial education, health education and testing for cervical