Khalti, a Nepal-based provider of digital financial services, has modified its digital platform to support micro-, small and medium-sized enterprises (MSMEs) in Nepal, including small shops known as kirana stores, with the support of the UN Capital Development Fund (UNCDF). Before the COVID-19 pandemic, Khalti offered a service through which enterprises could open digital storefronts to sell their services and collect payments. In adjusting to the pandemic, Khalti started
Tag: MSMEs
MICROCAPITAL BRIEF: Symbiotics Partners with Cooperative CACPECO on $14m Bond for Housing, MSME Lending in Ecuador
Symbiotics, a Switzerland-based impact investing firm, recently partnered with Cooperativa de Ahorro y Crédito de la Pequeña Empresa de Cotopaxi (CACPECO), a cooperative in Ecuador, to fund it with the proceeds of a bond in the amount of USD 14 million, for a term of 4 years. The funds are to be used for: (1) housing loans with 15-year terms and interest rates of 9.9 percent per year; and (2) business loans of up to USD 1 million for micro-, small and medium-sized enterprises (MSMEs). Of the MSME loans,
MICROFINANCE PAPER WRAP-UP: “A Digital Bookkeeping App to Improve Access to Finance,” Published by UN Capital Development Fund
Ghana-based financial technology firm Ozé and Ecobank, a Togo-based commercial bank that operates in 35 countries, partnered beginning in 2020 to expand usage of the Ozé Business App among young entrepreneurs in rural Ghana. The Ozé mobile phone app is designed to help users track
MICROCAPITAL BRIEF: ATB Secures $23m Loan Guarantee from DFC for Local-currency Lending to MSMEs in Tunisia
Arab Tunisian Bank (ATB) recently acquired a guarantee in the amount of USD 22.75 million from the government-backed US International Development Finance Corporation (DFC) to support its local-currency lending to “inland and hard-to-reach” micro-, small and medium-sized enterprises (MSMEs) in Tunisia. The focus on inland areas is motivated by
MICROCAPITAL BRIEF: Terabank Georgia Borrowing $7m from EIB to Aid MSMEs in Adjusting to COVID-19 Pandemic
The EU’s European Investment Bank (EIB) recently opened a credit line of EUR 6 million (USD 6.8 million) – usable in synthetic Georgian lari – for Terabank Georgia, which is owned by the UAE-based Abu Dhabi Group. Terabank, which focuses on retail customers as well as small and medium-sized enterprises (SMEs), seeks to use the credit line to help
MICROCAPITAL BRIEF: Bank of Abyssinia to Loan $13m to 4 Microfinance Institutions in Ethiopia for Lending to MSMEs Based on Movable Collateral
Bank of Abyssinia (BOA), a financial services provider in Ethiopia, recently agreed to loan ETB 600 billion (USD 13 million) to four Ethiopian microfinance institutions (MFIs) to increase financial access for micro-, small and medium-sized enterprises (MSMEs) by harnessing moveable collateral such as
MICROCAPITAL BRIEF: POSRocket Raises $5m to Expand Point-of-sale Payment Systems, Related Technology for Small Businesses in MENA
POSRocket, a Jordan-based provider of point-of-sale (POS) technology, recently raised USD 5.1 million in an equity round led by Algebra Ventures, an Egypt-based firm that invests in technology, and Sanad Fund for MSME, a Luxembourg-based vehicle targeting micro-, small and medium-sized enterprises (MSME) in the Middle East and North Africa (MENA). The other participating investors are
MICROCAPITAL BRIEF: BlueOrchard Raises $207m in Equity for COVID-19 Emerging and Frontier Markets MSME Support Fund – Adding IDB, Visa Foundation as Investors
BlueOrchard Impact Investment Managers, a member of the UK-based Schroders Group, recently announced it raised USD 207 million in the second close of its COVID-19 Emerging and Frontier Markets MSME Support Fund, which is intended to counter “the economic consequences of the COVID-19 pandemic” among micro-, small and medium-sized enterprises (MSMEs) in low- and middle-income countries. The new investors in the funding round include IDB Invest, a member of the Inter-American
MICROCAPITAL BRIEF: REGMIFA Raises $10m from FMO to Invest in MSMEs in Sub-Saharan Africa
Recently, the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA), a fund that invests in micro-, small and medium-sized enterprises (MSMEs) in 19 countries, accepted an investment of USD 10 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. The purpose of REGMIFA is to
MICROCAPITAL BRIEF: Amazon Opening “Digital Kendra” Storefronts to Support MSME Growth, Digitization in India
US-based retailer and technology company Amazon recently launched its first Digital Kendra customer service location to assist micro-, small and medium-sized enterprises (MSMEs) in India in making more digital sales. The firm plans to open more Digital Kendras to deliver assistance with
MICROCAPITAL BRIEF: ANDE, IDB to Implement MSME Digital Transformation Program in Uruguay, Boosting Digital, Human Resources
The Inter-American Development Bank (IDB), a multilateral finance institution that promotes economic development in Latin America and the Caribbean, recently approved a loan of USD 15 million to support micro-, small and medium-sized enterprises (MSMEs) in Uruguay through the MSME Digital Transformation Program. The goal is to increase MSMEs’ adoption and awareness of “digital solutions, increase the supply of digital goods and services, and
MICROCAPITAL BRIEF: EBRD Boosts Loan Ceiling of Quds Bank to Support Cross-border Trade, MSMEs in West Bank, Gaza
Recently, the UK-based European Bank for Reconstruction and Development (EBRD) agreed to increase the credit line it has open for Quds Bank, a commercial bank operating in the West Bank and Gaza, by USD 10 million. Half of the new increment is for Quds Bank to use for
MICROCAPITAL BRIEF: Oikocredit Loans $2.5m to Grace and Mercy Microfinance Institution to Support MSMEs, Women Entrepreneurs in Nigeria
Oikocredit, a Netherlands-based cooperative, recently offered a loan of USD 2.5 million to Grace and Mercy Households Improvement Initiative, a nonprofit microfinance institution in Nigeria. The loan is intended to support the expansion of
MICROCAPITAL BRIEF: IDB to Lend $150m to Panama, Targeting MSME Recovery
The Inter-American Development Bank (IDB), a multilateral financial institution that promotes economic development in Latin America and the Caribbean, recently approved a loan of USD 150 million to support micro-, small and medium-sized enterprises (MSMEs) in Panama in adjusting to the COVID-19 pandemic “by facilitating access to production-oriented finance.” The funding will be delivered via
MICROCAPITAL BRIEF: Cívico of Colombia Launches “Negocios” App to Help MSMEs Advertise, Sell, Maintain Customer Relationships Online
Cívico, a Colombia-based online marketplace, networking and loan platform for micro-, small, and medium-sized enterprises (MSMEs), recently launched a mobile app called Negocios that allows users to “create a digital presence for their businesses, upload and sell their products, and connect with their clients.” Cívico also is using the app to collect data on the MSMEs’ interactions with their customers “to
MICROCAPITAL BRIEF: Amazon Leads $10m Equity Funding Round for M1xchange, Provider of Invoice Discounting for MSMEs in India
M1xchange, an India-based online exchange for receivables held by micro-, small and medium-sized enterprises (MSMEs), recently raised USD 10 million in a funding round led by US-based retailer and technology company Amazon, with participation from venture capital firms Beenext of Singapore and current US-based investor Mayfield. M1xchange’s other investor is SIDBI Venture Capital, an
MICROCAPITAL BRIEF: IDB Launches Program to Connect Women’s MSMEs in Latin America, Caribbean with Value Chains, International Trade
The Inter-American Development Bank (IDB), a multilateral financial institution that promotes economic development in Latin America and the Carribbean, has partnered with six large companies to launch a program promoting the integration of women-owned businesses “into foreign trade and regional value chains” as a way to: (1) stimulate the region’s economy as it adjusts to the COVID-19 pandemic; and (2) increase job opportunities and decrease economic and other gaps between men and women. The private firms, whose roles have yet to be clearly defined, are Ireland-based Accen
MICROCAPITAL BRIEF: CBN Adds $120m to COVID-19 Pandemic Relief Fund for Loans to MSMEs, Households in Nigeria
The Central Bank of Nigeria (CBN) recently announced the addition of NGN 50 billion (USD 120 million) to its Targeted Credit Facility, a stimulus program for micro-, small and medium-sized enterprises (MSMEs) as well as households affected by the pandemic. The funding will be disbursed through NIRSAL Microfinance Bank, which is minority-owned by CBN’s Nigerian Incentive-based Risk Sha