by the MicroCapital Team -

MICROCAPITAL BRIEF: Opportunity EduFinance Partners with 7 FSPs to Invest in Education in Africa, India

Opportunity EduFinance, an affiliate of the US-based NGO Opportunity International, recently brought on seven new financial services provider (FSP) partners, with whom it plans to invest in affordable private education in India, Nigeria and Rwanda. Although the FSPs have not been identified publicly, they are expected to

by Pranav Agarwal -

MICROCAPITAL BRIEF: Opportunity International, UPS Foundation Announce “Unstoppable Women Initiative” to Expand Financial Services in Colombia, India, Indonesia, Nigeria

Two US-based NGOs, Opportunity International and the UPS Foundation, recently partnered to launch the Unstoppable Women Initiative to support female entrepreneurs in underserved communities in Colombia, India, Indonesia and Nigeria. The program includes training, business support and

by Pranav Agarwal -

MICROCAPITAL BRIEF: Baobab+, TradeLenda Partner on Solar Energy Solutions for SMEs in Nigeria

Baobab+, a French energy and technology company active in six African countries, recently partnered with TradeLenda, a Nigerian financial services company serving small and medium-sized enterprises (SMEs), to expand lending to SMEs to buy solar generators, freezers and refrigerators. SMEs will be able to

by Renata Samadova -

MICROCAPITAL BRIEF: Okra Solar of Nigeria Raises Equity, Debt Totaling $12m to Expand Mesh Grids in Africa, Americas, Asia

Nigeria-based Okra Solar, whose products serve 14,000 people in Cambodia, Haiti, Nigeria, and the Philippines, recently raised USD 8 million in equity from five investors. The investment package is led by US-based At One Ventures and includes USD 1.5 million from

by Pranav Agarwal -

MICROCAPITAL BRIEF: Moniepoint Microfinance Bank Launches Mobile Banking App, Debit Card in Nigeria

Moniepoint Microfinance Bank, a Nigerian subsidiary of UK-based Moniepoint, recently launched a debit card and a mobile app called Moniepoint Personal Banking. The app allows users to: (1) make bill payments, send money to friends and family, and purchase credit for mobile devices; (2) play games that offer

by Pranav Agarwal -

MICROCAPITAL BRIEF: Universal Insurance Launches Mobile App, Referral Platform in Nigeria

Nigeria’s Universal Insurance recently launched a mobile app to facilitate its customer service interactions. The app allows users to buy and manage policies as well as to file and receive support on claims. The firm also debuted the Universal Insurance Network, through which customers can

by Elva Montelongo -

MICROCAPITAL BRIEF: Bankingly, Woodcore Partner to Help FSPs in Africa to Offer Digital Financial Services

Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add

by Elva Montelongo -

MICROCAPITAL BRIEF: 24 Education Technology Startups in Kenya, Nigeria Joining Mastercard Foundation EdTech Fellowship

The Canada-based Mastercard Foundation recently announced that 24 educational technology (edtech) startups in Kenya and Nigeria have joined the Mastercard Foundation EdTech Fellowship program, which promotes “technology in learning and teaching to benefit learners, education and edtech innovators across the continent” of Africa. The Kenyan inductees are listed at:

by Rohit Dayanand -

MICROCAPITAL BRIEF: First City Monument Bank of Nigeria Offers Asset Financing Starting at $600 

First City Monument Bank (FCMB) of Nigeria has begun offering loans of NGN 500,000 (USD 600) to NGN 3 million (USD 3,600) with terms of one year to four years for businesses to finance purchases of equipment and machinery. FCMB reports that it also may grant customers – in certain circumstances –

by Ben Barba -

MICROCAPITAL BRIEF: Lidya to Shift from Retail Lending to Providing Fintech Infrastructure

Lidya, a US-based financial technology (fintech) firm that has provided digital loans in Nigeria, the Czech Republic and Poland, recently announced it will shift its focus to providing technology infrastructure to financial institutions. Lidya’s credit platform helps lenders “originate, manage and collect loans,” including via the Collect tool, which is intended to

by Vaughn Rajah -

MICROFINANCE PAPER WRAP-UP: “Impacts of Microcredit Access on Climate Change Adaptation Strategies Adoption and Rice Yield in Kwara State, Nigeria,” by Adejoke Yewande Bakare et al

Because 70 percent of Nigeria’s population is active in agriculture as a primary occupation, climate change has a direct impact on the livelihoods of most people in the country. Access to microcredit can

by Ben Barba -

MICROCAPITAL BRIEF: Credit Café Africa, Sterling Bank Partner on $22m in Loans for Providers of Health, Education in Nigeria 

Two Nigeria-based companies, the financial services portal Credit Café Africa and Sterling Bank, recently agreed to collaborate to distribute NGN 10 billion (USD 21.7 million) in loans to health and education facilities. The loans, which will be sized between NGN 100,000 (USD 217) and NGN 20 million (USD 43,400) are to focus on

by Ben Barba -

MICROCAPITAL BRIEF: Echosys, Rgreen Raise $93m for Solar Power for SMEs in Africa via Afrigreen Debt Impact Fund

Two French firms, Echosys Invest and Rgreen Invest, recently announced the first close of their Afrigreen Debt Impact Fund with EUR 88 million (USD 93 million) to finance solar power plants for small and medium-sized enterprises (SMEs). The fund will focus on Central and West Africa, and it is to include local-currency financing for projects in

by the MicroCapital Team -

MICROCAPITAL BRIEF: Babban Gona Borrows $5m from Huruma Fund to Support Smallholder Farmers in Nigeria, Prepare for International Expansion

Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s second investment in Africa, lending EUR 5 million (USD 5.2 million) to Babban Gona, a Nigerian firm that supports 81,000 farmers with financing, inputs, training

by the MicroCapital Team -

MICROCAPITAL BRIEF: Standard Life Organization Borrows $3m from Oikocredit to Invest in MSMEs, Education in Nigeria

Standard Life Organization, an NGO in Nigeria, recently agreed to borrow USD 3 million for three years from Oikocredit, a Dutch cooperative. Standard Life provides health services and skills training as well as lending to micro-, small and medium-sized enterprises, including many

by Saulius Ramanauskas -

MICROFINANCE PAPER WRAP-UP: “Strategies to Optimise MSME-centred Supply Chain Finance Solutions: A Study of Ghana, Ethiopia and Nigeria;” by Adebiyi Fajemisin, Anifat Ibrahim and Raliat Sunmonu; Published by Accion

This report describes how several supply chain finance (SCF) solutions were deployed with the intent of benefiting micro-, small and medium-sized enterprises (MSMEs) in Ethiopia, Ghana and Nigeria. The authors deem these countries particularly “promising markets for MSME-led digital financial inclusion,” and they argue that SCF can provide

by Sheen Gupta -

MICROCAPITAL BRIEF: Patrick Gold Microfinance Launches Digital Banking Platforms GetriPay, GetriSave in Nigeria

Patrick Gold Microfinance Bank, a Nigerian financial institution, recently launched the GetriPay and GetriSave digital banking platforms. GetriSave allows users to earn up to 13 percent interest on savings plus monthly loyalty rewards. GetriPay offers: (1) no-cost withdrawals from automated teller machines (ATMs), including an unlimited number of such transactions from Zenith Bank ATMs; (2)