Sama Money, a provider of mobile money services in Burundi, Côte d’Ivoire and Mali, recently purchased the Malian microfinance institution Première Agence de MicroFinance (PAMF), after receiving approval from the Central Bank of West African States to operate as an Electronic Money Establishment (EME).
Tag: Microloans
MICROFINANCE PAPER WRAP-UP: “The Relationship Between Financial and Social Performances in Microfinance: Insights from the Provision of Agricultural Loans in Cambodia,” by Tristan Caballero-Montes
In the context of agricultural lending in Cambodia, Dr Caballero-Montes assesses the extent to which microfinance institutions (MFIs) are able to pursue both financial and social objectives. The author contends that
MICROCAPITAL BRIEF: In Pakistan, Microfinance Portfolios Rise 7.5% Quarterly to $2b
According to data attributed to the Pakistan Microfinance Network, microfinance providers in the country grew the number of savers they serve by 2.9 percent to 87 million from March 2022 to June 2022. During that period, however, the aggregate amount saved by those customers fell 8.9 percent to PKR 391 billion (USD 1.8 billion).
Meanwhile, microlending in Pakistan is growing unambiguously, and it is expected to continue its upward trend as new regulations recently
MICROCAPITAL BRIEF: Fintech Creditas of Brazil Buys Banking License from Andbank Brasil for $100m
The Brazil-based online lending firm Creditas recently acquired the banking license of Andorra Banc Agrícol Reig (Banco Andbank) Brasil, a member of the Andorra-based Andbank Group, for approximately BRL 500 million (USD 100 million). The deal allows Creditas to
MICROCAPITAL BRIEF: Deetken Impact Invests in Pro Mujer Mexico – Provider of Education, Healthcare, Microfinance – Through Ilu Women’s Empowerment Fund
Canada-based asset management company Deetken Impact and US-based nonprofit women’s development organization Pro Mujer recently announced they are making an investment in Pro Mujer Mexico from the investment vehicle they co-manage, the Ilu Women’s Empowerment Fund. The parties to the transaction wish
MICROCAPITAL BRIEF: FMO Announces $6m Loan for Microfinance Institution Sembrar Sartawi of Bolivia to Support Climate Resilience, Growth of Small-scale Farmers
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan of USD 6 million to support Bolivia-based microfinance institution (MFI) Institución Financiera de Desarollo Sembrar Sartawi. The Dutch Fund for Climate and Development (DFCD), a private entity managed by FMO, will fund the facility, aiming to boost the “climate-resilient economic growth [of] vulnerable smallholder farmers” through
MICROCAPITAL BRIEF: Microfund for Women (MFW) Expands Digital Capabilities via MoneyPhone Technology
Microfund for Women (MFW), a nonprofit microfinance institution in Jordan, recently partnered with MoneyPhone, a Netherlands-based financial technology (fintech) company, to enhance its digital offerings in response to the COVID-19 pandemic. Bdour Al-Hyari, the director of strategic planning and business development at MFW, cited the “opportunity for us to introduce new digital services, such as
MICROCAPITAL BRIEF: Huruma Loans $8m to Microfinance Institutions INSOTEC, FACES; Aiming to Increase Productivity of Farmers in Rural Ecuador
The Huruma Fund, an impact investment vehicle with commitments of EUR 120 million (USD 145 million), recently issued three-year loans to two microlenders in Ecuador: EUR 4 million (USD 4.8 million) to the Instituto de Investigaciones Socioeconómicas y Tecnol
MICROCAPITAL BRIEF: E-lending Company Creditas of Brazil Raises $225m in Equity, Eyeing Expansion to Mexico
Creditas, an online lending platform in Brazil, recently raised USD 225 million in equity, valuing the firm at approximately USD 1.75 billion. Among its plans for the new funds is
MICROCAPITAL BRIEF: State of Ondo, Nigeria, to Provide $1.5m in Subsidized Loans to Individuals, Groups, Cooperatives Under Apalara Micro-Credit Loan Scheme, Mostly to Benefit Women
Governor Oluwarotimi Akeredolu of Ondo State, Nigeria, recently announced the launch of the Apalara Micro-Credit Scheme, which is intended to reduce poverty among people with low incomes. The scheme involves the distribution of NGN