Themed “Growth Drivers: Risks Controls,” this event will focus on increasing organizations’ ability to manage uncertainty. The draft agenda features hybrid sessions including
Tag: Kenya
MICROCAPITAL BRIEF: I&M Bank of Kenya Secures $15m Guarantee from FMO to Support MSME Growth
Investment and Mortgages (I&M) Bank, a subsidiary of Kenya-based I&M Group, recently signed an agreement with Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, whereby FMO will deploy a guarantee from its Nasira risk sharing facility to encourage USD 15 million in lending by I&M Bank to
MICROCAPITAL BRIEF: Catalyst Fund to Incubate 6 “Inclusive” Fintechs Serving Africa, Latin America
Catalyst Fund, an initiative of the US-based firm BFA (Bankable Frontier Associates) Global, recently announced the tenth cohort of financial technology (fintech) companies that it will support in their efforts to serve more “underserved and climate-vulnerable communities in emerging markets.” Four of the companies are based in
MICROCAPITAL BRIEF: Juhudi Kilimo, Rural MFI in Kenya, Sells 39% Equity Stake to Nordic Microfinance Initiative for $3.1m
Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently paid USD 3.1 million to acquire a 39.4 percent stake in Juhudi Kilimo, a Kenyan microlender offering
MICROCAPITAL BRIEF: Oikocredit Loans Ecoligo $5.7m to Fund Solar Energy for 15 SMEs, NGOs in Ghana, Kenya
Oikocredit, a Dutch cooperative investor, recently loaned EUR 5 million (USD 5.68 million) to Ecoligo, a German firm that provides solar-as-a-service solutions, to expand its operations in Ghana and Kenya. The loan is to finance solar energy equipment that will provide power to 15 clients, which will pay Ecoligo for the power on a monthly basis. Siebren Wilschut, an investment officer at Oikocredit, said,
MICROFINANCE EVENT: Africa Tech Summit; February 23-24, 2022; Nairobi, Kenya
This event is organized as three sub-events on decentralized finance (DeFi), startup companies and mobile technology. The Africa Money & DeFi Summit will cover technologies such as
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends Kenya’s Sumac Microfinance Bank Equivalent of $2.2m in Local Currency
The Grameen Crédit Agricole Foundation, a Luxembourg-based investor in “financial inclusion and entrepreneurship with social impact,” has loaned the local-currency equivalent of USD 2.2 million to
MICROCAPITAL BRIEF: DFC Approves $9m, 10-year Loan to Apollo Agriculture of Kenya
Kenya-based Apollo Agriculture, a technology company that works with small-scale farmers to boost their profits, recently agreed to borrow USD 9.5 million for up to 10 years from the government-backed US International Development Finance Corporation (DFC). Apollo provides the following services in Kenya,
MICROCAPITAL BRIEF: IFC, FMO Loaning $50m to I&M Bank to Support SMEs in Kenya
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, along with Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan package of USD 50 million for I&M Bank Limited, which is owned by the Kenya-based I&M Group. The funds are intended to
MICROCAPITAL BRIEF: Mwezi Nets Inaugural $500k Debt Investment from Build Fund of Bamboo Capital, UNCDF to Expand Access to Pay-as-you-go Solar Products in East Africa
Luxembourg-based Bamboo Capital Partners and the UN Capital Development Fund (UNCDF) recently partnered to create the Build Fund, whose first investment is a loan of USD 500,000 for
MICROCAPITAL BRIEF: Sanad, Aavishkaar, Uncovered Participate in $4m Equity Raise by Sky.Garden of Kenya to Expand Its Digital Marketplace to Middle East, North Africa
The Luxembourg-domiciled Sanad Fund for MSME recently led a Series A investment in Sky.Garden, a Kenya-based e-commerce platform serving 15,000 micro-, small and medium-sized enterprises (MSMEs). Sky.Garden plans to use the fresh USD 4 million to expand into
MICROCAPITAL BRIEF: Chipper Cash Raises $100m in Equity to Expand Cryptocurrency, Peer-to-Peer Services, Distribution of Payment Cards in Africa, UK
Chipper Cash, a US-based financial technology (fintech) firm active in Africa, recently raised USD 100 million in a Series C round of funding that it plans to use to
MICROCAPITAL BRIEF: IDH Farmfit Fund Acquires Equity Stake in LendXS, Provider of Fintech for Microfinance Institutions Serving Smallholder Farmers
The IDH Farmfit Fund, which is facilitated by the Sustainable Trade Initiative, a Netherlands-based NGO known by its Dutch acronym IDH, recently acquired a 21-percent stake in LendXS, a Netherlands-based financial technology (fintech) platform for rural financial institutions. The pricing of the transaction remains
MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa
Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting
MICROCAPITAL BRIEF: Lami of Kenya Raises $1.8m in Equity for Digital Insurance (Insurtech) in Africa
Kenya-based insurance technology (insurtech) firm Lami Technologies recently raised USD 1.8 million in a seed investment round led by Accion Venture Lab, a unit of US-based NGO Accion. Lami provides a digital platform through which firms offer instant quotations and the subsequent distribution of
MICROCAPITAL BRIEF: Tugende Expands Leasing Products to Finance Boat Engines for Fishing in Uganda
Tugende, a technology-driven, lease-to-own firm, recently expanded its product portfolio to finance boat engines for informal workers in the fishing industry in Uganda. The company provides “financing for income-generating assets,” such as motorcycle taxis; associated resources, such as insurance and training; and digital profiles demonstrating
MICROFINANCE EVENT: Africa Agri-Trade & Finance Forum; May 26, 2021; Nairobi, Kenya
Adiem Business Solutions is hosting this event for the fourth year, with a focus on “building [a] sustainable agribusiness economy.” It will address topics such as “smart agriculture in Africa,” “farmer management,” technology for agriculture, and the marketing and regulation of produce. Although the detailed agenda for this year’s edition has not been released, previous iterations included
MICROCAPITAL BRIEF: IFC Loans $50m to Diamond Trust Bank Kenya to Support SMEs Challenged by COVID-19
To support small and medium-sized enterprises (SMEs) that are struggling during the COVID-19 pandemic, the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently issued a loan of USD 50 million to Nairobi-based Diamond Trust Bank Kenya Limited (DTB Kenya). The targeted sectors include