Britam, a Kenya-based investment firm active in seven African countries, is working on “developing new property insurance solutions” to provide security to microentrepreneurs who use their homes for business operations and storage. The project is supported by the
Search Results for: Rwanda
MICROCAPITAL BRIEF: DMA, UNCDF to Connect Farmers in Tanzania with Agricultural Inputs, Buyers, Digital Financial Services
Through a performance-based contract, the UN Capital Development Fund (UNCDF) is funding Tanzania-based Digital Mobile Africa (DMA), to offer farmers in the Kigoma region of Tanzania online access to agricultural input retailers, crop buyers and financial services providers. DMA’s online portal is integrated with multiple mobile network operators (MNOs) and offers financial services under the license of the Tanzanian Postal Bank. These financial services include
MICROFINANCE PAPER WRAP-UP: “The Digital Lives of Refugees: How Displaced Populations Use Mobile Phones and What Gets in the Way,” Published by GSMA
This is a summary of a paper published by the Groupe Speciale Mobile Association (GSMA), July 2019, 87 pages, available at https://www.gsma.com/mobilefordevelopment/wp-content/uploads/2019/07/The-Digital-Lives-of-Refugees.pdf
Mobile technology in general, as well as mobile network operators in particular, are becoming increasingly important to the delivery of aid to populations in crisis. This report addresses the access to, use of, and barriers to mobile technology among refugee populations.
The authors conducted 3,000 face-to-face and telephone interviews as well 55 focus group discussions with refugees from Jordan, Rwanda and
MICROCAPITAL BRIEF: With “Homeland” App, MTN Opens Remittance Channels from Europe to Africa, Afghanistan, Yemen
South Africa’s MTN Group recently released an application for mobile phones called MTN Homeland that allows users to send money or airtime to 17 countries from Europe. The service allows cash remittances to Cameroon, Congo Brazzaville, Ghana, Guinea Conakry, Rwanda and Uganda. It also allows the sending of
SPECIAL REPORT: Credit Scoring Methods, Data for Farmers, Digital Financial Services on Offer as 30 Firms Showcase Inclusive Finance Products at SAM Innovators’ Village (Part One)
Dozens 
of firms presented their newest technologies and other products during the full-day Innovators’ Village of the recent SAM conference. Among these was ICCO Cooperation, whose representatives described their organization’s ACAT tool for evaluating the creditworthiness of agricultural producers. ACAT, which was designed in partnership with the French bank Crédit Agricole, offers features to help loan officers who do not specialize in agriculture to evaluate producers’ operations. The tool calculates the input needs per hectare for crops such as sesame as well as predicting farmers’ income. While the pilot phase has gone well, there have been a few challenges, such as poor internet connectivity and difficulty calculating the sizes of the farmers’ plots due to deficient land surveys.
Mohamed Asri of HPS (Hightech Payment Systems) discussed his firm’s PowerCard core banking system, which allows the “client to act as an agent.” The
MICROCAPITAL BRIEF: Engie Acquires Mobisol, Provider of Pay-as-you-go Solar Systems in East Africa
Engie, a France-based, “low-carbon” energy firm, recently agreed to acquire Mobisol, a Germany-based provider of solar-powered products in Kenya, Rwanda and Tanzania, for an undisclosed price. Among the reasons Engie is pursuing the transaction is the opening for “extending its customer base from rural to urban areas.”
Mobisol provides solar-powered products such as lights and telephone chargers that customers pay for via mobile payments over as many as four years. When a buyer wishes to delay a payment, Mobisol can temporarily disable the device remotely.
Engie’s holdings include: (1) Fenix International, which has delivered solar home power systems to
MICROCAPITAL BRIEF: Bamboo Capital to Invest $112m in Bloc Fund for Fintech Investing with Support from Smart Africa Alliance
Bamboo Capital Partners, a Luxembourg-based private equity firm focused on impact investing, recently announced plans to invest EUR 100 million (USD 112 million) in “businesses and scalable technology-led solutions that create opportunities and services for underserved communities” in the 26 member states of the Rwanda-based Smart Africa Alliance. Bamboo Capital will place these investments via the Bloc fund, which it established in March 2019 as a “blended
MICROCAPITAL BRIEF: Mobisol, Provider of Pay-as-you-go Solar Systems in East Africa, Files for Insolvency
Mobisol, a Germany-based provider of solar-powered products in Kenya, Rwanda and Tanzania, recently completed a court filing to enter a period of “self-administered insolvency.” According to a press release from the firm, “Mobisol is going to continue serving its customers and partners…without any interruption.” The firm’s managers are working with potential investors as part of a plan to bring in more cash and
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $100m to Equity Bank to Support SMEs, Renewable Energy in Kenya
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned KES 10 billion (USD 100 million) to the Kenyan member of the Equity Bank Group, a provider of microfinance and conventional financial services in six countries, to: (1) increase its lending to small and medium-sized enterprises (MSMEs); (2) enhance its regulatory capital; and (3) finance renewable energy projects. IFC also will provide Equity Bank Kenya with advisory support related to the subordinated loan, the cost of which has not been revealed. The IFC-funded loans will range in size from KES 1 million (USD 10,000) to KES 200 million (USD 2 million) to benefit firms that fit at least one of the following criteria:
MICROCAPITAL BRIEF: Orange, MTN to Launch Mobile Wallet Mowali, Offering Interoperability With Other Mobile Money Services Across Africa
Two telecommunications companies, France-based Orange Group and South Africa-based MTN Group, are partnering to create Mowali, a mobile wallet allowing people to send payments to individuals and merchants
MICROCAPITAL BRIEF: Barclays, Jumo, MTN MoMo Partner on Mobile Savings in Zambia
Barclays Bank Zambia, a unit of the South Africa-based Absa Group; mobile telephone network operator Mobile Money, which is also known as MTN MoMo and is a subsidiary of South Africa’s MTN Group; and Mauritius-based financial technology firm Jumo World Limited recently announced the launch of a mobile savings product
MICROCAPITAL BRIEF: South Africa’s MFS Africa Lands $14m in Equity from Equator Capital’s ShoreCap III Fund, FSD Africa, Goodwell Investments, Lun Partners to Boost Mobile Financial Services in Rural Areas
South Africa-based financial technology (fintech) company MFS Africa recently raised equity totaling USD 14 million to expand its mobile financial services (MFS) into additional rural areas in Africa. The investors, which are participating in undisclosed portions, are US-based impact fund manager Equator
MICROFINANCE PAPER WRAP-UP: “Digital Financial Services for Agriculture,” by Wisdom Alorwuse et al, Published by IFC
This is a summary of a paper written by Wisdom Alorwuse, Natalie Baatjies, Margarete O Biallas, Dean Caire, Soren Heitmann, Andrew Kasujja, Ruth Dueck-Mbeba, Joseck Mudiri, Riadh Naouar, Charlotte Ndaw, Rita Oulai, Minakshi Ramji, Beniamino Savonitto and Mark Wensley;
MICROCAPITAL BRIEF: Calvert Impact Loans $5m to One Acre Fund for Agricultural Inputs, Clean-energy Equipment Leasing to Smallholder Farmers in East Africa
Calvert Impact Capital, a US-based NGO that raises funds for organizations with “a social and/or environmental focus,” recently loaned USD 5 million to One Acre Fund, a US-based NGO active in the agriculture sector in Africa.
MICROCAPITAL BRIEF: Canada Donating $29m for Youth, Women’s Entrepreneurship Programs in Palestine to be Run by CARE Canada, CowaterSogema International, Mercy Corps, Save the Children
The government of Canada recently announced it will fund four projects under its program titled Women and Youth Empowerment, Entrepreneurship and Employment in the West Bank & Gaza. More specifically, Global Affairs Canada, the government’s international development and diplomatic relations department,
MICROCAPITAL BRIEF: FMO, Rabobank Foundation Invest $500k in Apollo Agriculture, Provider of Loans, Insurance, Training to Smallholder Farmers in Kenya
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, and Rabobank Foundation, the “social fund” of the Dutch Rabobank Group, each recently disbursed USD 250,000 to Apollo Agriculture, a Kenyan startup that provides financial and technical assistance to smallholder farmers in Kenya.
MICROCAPITAL BRIEF: FMO Loans $33m in Local Currency to Exim Bank Tanzania for Micro-, Small, Medium-sized Enterprise (MSME) Financing
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently loaned TZS 75 billion (USD 33 million) to Exim Bank Tanzania Limited, a commercial bank active in Tanzania, Comoros, Djibouti and Uganda. The bank has allocated the funds for lending to micro-,
MICROCAPITAL BRIEF: Alipay, GCash Upgrade AlipayHK App for Users in Hong Kong to Send Remittances to the Philippines Using Blockchain
Mobile payment platforms Alipay, a unit of the China-based Ant Financial, and GCash, a unit of the Philippines-based Globe Telecom, recently partnered to extend the reach of AlipayHK, a mobile app that allows users in Hong Kong to