Aavishkaar, an Indian manager of impact-oriented venture capital investments, reportedly plans to raise USD 75 million for its newly launched Aavishkaar Frontier Fund, an international social venture capital fund that aims to place investments in 300 start-ups in various countries in South Asia and Southeast Asia including Bangladesh, Indonesia, Myanmar, Pakistan and Sri Lanka.
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MICROFINANCE EVENT: Caribbean MicroFinance Alliance (CMFA) to Host “Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel,” June 2 – 5, 2014, Montego Bay, Jamaica
Event Name: The Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel
Event Date: June 2 – 5, 2014
Event Location: Iberostar Rose Hall Suites Hotel, Montego Bay, Jamaica
MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund
AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa.
MICROCAPITAL BRIEF: Incofin Investment Management’s Rural Impulse Fund (RIF) Acquires 15% Equity Stake in Financiera El Comercio (FIELCO) From Accion Gateway Fund
Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM), recently announced that it has acquired a 15.3-percent stake in Financiera El Comercio (FIELCO), a microfinance institution focused on rural and agricultural markets in Paraguay.
MICROCAPITAL BRIEF: Kenya Women’s Finance Trust (KWFT) Receives $16m in Equity Investments from Incofin’s Rural Impulse Fund II (RIF II), Norwegian Microfinance Initiative (NMI) Fund III, NMI Frontier Fund
Kenya Women’s Finance Trust (KWFT), a Kenyan microfinance institution (MFI) that was established in 1982, recently announced that it has received equity investments totaling KES 1.37 billion (USD 16 million) from three funds: a total of KES 692 million (USD 8 million) from the Norwegian Microfinance Initiative (NMI) Frontier Fund and NMI Fund III, with the remaining KES 692 million (USD 8 million) placed by the Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Disburses Syndicated Loan of $125m to Sri Lanka’s National Development Bank (NDB)
The International Finance Corporation (IFC), the private investment arm of the US-based World Bank Group, recently disbursed a four-year syndicated loan of USD 125 million to National Development Bank (NDB), which is owned by the government of Sri Lanka, in an effort to improve access to funds for micro-, small and medium-sized enterprises (MSMEs) in Sri Lanka.
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: US-based TriLinc Global Impact Fund Invests in Small, Medium-Sized Enterprises (SMEs) in Brazil, Chile, Indonesia, Peru
TriLinc Global Impact Fund (TriLinc), a US-based private investor in companies that it deems to contribute positively to socioeconomic development in emerging economies, recently disbursed a total of USD 5.7 million in loans through a series of investments in unspecified small and medium-sized enterprises (SMEs) in Brazil, Chile, Indonesia and Peru.
MICROCAPITAL BRIEF: Western Union, Paga to Augment Mobile Money Transfer Services in Nigeria
The Western Union Company, a US-based financial services company, recently partnered with Paga, a Nigeria-based mobile payment platform, to launch a mobile money transfer service in Nigeria.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $14.4m in Equity in Philippine Resources (PR) Savings Banking Corporation to Expand Rural Operations
The International Finance Corporation (IFC), a US-based development finance institution, recently announced an equity investment of PHP 650 million (USD 14.4 million) in Philippine Resources Savings Banking Corporation (PR Savings Bank), a rural commercial bank based in Cauayan City in the Philippines.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Help Guyana Bank for Trade and Industry (GBTI) Improve Risk Management for Small, Medium-Enterprises (SMEs) in Guyana
The Guyana Bank for Trade and Industry (GBTI), a commercial bank in Guyana, recently signed an agreement with the International Financial Corporation (IFC), a member of the US-based World Bank Group, to take part in a two-year financial risk management advisory project.
MICROFINANCE PUBLICATION ROUND-UP: Women and Mobile Financial Services in Uganda; Quantitative Poverty Scoring Methods; European Investment Bank’s Rural Impulse Fund II Symposium in Africa
“Research on Women and Usability of Mobile Financial Services in Uganda;” published by Grameen Foundation; February 2014; 40 pages; available at http://www.grameenfoundation.org/resource/use-mobile-financial-services-among-poor-women
This presentation gives an overview of the Uganda-specific results of a series of studies undertaken by the US-based nonprofit Grameen Foundation with the goal of understanding how mobile-phone usability, or lack thereof, impacts the ability of poor women to access mobile financial services in India, the Philippines and Uganda.
MICROCAPITAL BRIEF: Accel Invests $40m in Equity in UK-based WorldRemit, Provider of Remittances to 100 Countries
WorldRemit, a UK-based online money transfer service, recently announced that it has received an investment of USD 40 million from Accel Partners, a US-based venture capital firm, in exchange for an undisclosed stake in the company.
MICROCAPITAL BRIEF: Applications Open for 2014 Seed Awards for Entrepreneurs in Sustainable Development Until April 8
The Seed Initiative, a Germany-based nonprofit institution that supports small-scale social and environmental enterprises in emerging economies, recently announced that it is accepting applications for the “2014 Seed Awards for Entrepreneurs in Sustainable Development,” a set of annual awards presented to entrepreneurs in developing countries that Seed deems to be the “…most promising, innovative and locally led…[and that have the] potential to contribute significantly to sustainable development…”.
MICROCAPITAL BRIEF: First Access Purchases Data for Risk-Scoring Service from Cellular Network Provider Vodacom Tanzania
US-based data analytics company First Access reportedly has signed a deal to purchase user data from cellular network provider Vodacom Tanzania, a subsidiary of UK-based telecommunications company Vodafone Group, for their risk-scoring service for financial institutions serving poor individuals.
MICROFINANCE EVENT: Columbia Business School to Host “Beyond the Pioneer: Scaling New Industries to Benefit the Poor,” New York, USA, April 28, 2014
Event Name: Beyond the Pioneer: Scaling New Industries to Benefit the Poor
Event Date: April 28, 2014
Event Location: Uris Hall, Columbia University, New York City, New York, USA
MICROCAPITAL BRIEF: Entrepreneurial Finance Lab Offers Microfinance Institutions (MFIs) Credit Scores for Micro-, Small Enterprises (MSEs) Based on Psychometric Tests
In an effort to promote financing to self-employed entrepreneurs and micro- and small enterprises (MSEs) in emerging economies, Entrepreneurial Finance Lab (EFL), a US-based company, is employing psychometric analyses to assess the creditworthiness of loan applicants.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund Invests $170m in Banco CorpBanca Colombia
The International Finance Corporation (IFC) Capitalization Fund, an investment fund managed by an arm of the World Bank Group’s IFC, has announced a USD 170 million subordinated bond investment in Banco CorpBanca Colombia (CBC), a subsidiary of CorpBanca, a Chile-based commercial bank that is a subsidiary of Brazil’s Itau Unibanco.