Micro Capital

MicroCapital, the US-based firm that has published this website and the MicroCapital Monitor newspaper since 2006, is winding down its operations. After 17 years with MicroCapital, Bob Summers (pictured) has launched an NGO called Mesofinance Monthly, which will continue to publish a newspaper on impact investing each month, with daily updates online. The new team has big plans for Mesofinance Monthly, including faster turnarounds for online content and expanded coverage in the newspaper.

A seat next to Kwashie Agbitor (pictured below) was one of the most highly sought-after spots at SAM 2023 in Togo in October. Mr Agbitor has 20 years of experience in Africa and Asia, improving branch oper­ations, credit appraisals, risk management, methodology auditing, prod­uct development, client protection and social performance management.

This annual gathering promotes trade between Africa and Europe, North America and Asia. The agenda will include country-specific meetings and discussions of investment opportunities for the African diaspora. The conference themes include Agribusiness, Climate Financing, Renewable Energy and Technology. The cost to attend ranges from EUR 1,000 (USD 1,100) to EUR 1,500 (USD 1,640).

This annual gathering is intended to promote data innovations that “are making a measurable difference millions of lives” through humanitarian relief, development projects and conservation efforts. The event’s themes include digital inclusion, digital health, food security and agriculture, and youth engagement and employment. The primary sponsor is the US-based NGO Catholic Relief Services.

The multilateral Asian Development Bank (ADB) recently raised AZN 14.5 million (USD 8.5 million) from UK-based Record Currency Management and Germany-based Capitulum Asset Management to fund inclusive finance for women and agriculture in Azerbaijan. The funding is channeled through a three-year bond at an annual interest rate of 6.25 percent. The proceeds are slated to support women operating micro-, small and medium-sized enterprises (MSMEs) in Azerbaijan’s food supply chain.

Singapore-based Grab recently added the payment solution of Vietnam’s MoMo to its “super-app” so that Grab customers in Vietnam have an additional option for making cashless payments for services such as hailing a motorbike, shopping online, ordering meal delivery or buying insurance. MoMo allows users to send funds from sources such as the firm’s e-wallet and Pay Later services as well as from linked bank accounts.

Visa, a US-based payments company, and Oxfam America, an anti-poverty NGO, announced during the recent COP28 meetings in the UAE that they plan to scale Oxfam’s Building Resilient, Adaptive and Disaster-ready Communities (B-READY) project to deliver relief payments in advance of storms and flooding in Colombia, Kenya and the US territory of Puerto Rico. B-READY was launched in 2019 in the Philippines and has since been replicated in Indonesia and Sudan.

Lipa Later, a Kenyan financial technology (fintech) integrating e-commerce, digital financial services and merchant services in four African countries, recently paid KES 250 million (USD 1.6 million) to acquire Sky.Garden, a Kenyan service that was launched in 2017 but had announced it would close during 2023.

This annual gathering focuses on “sustainable” development in Africa, including as can be promoted via entrepreneurship and impact investing. Attendees will engage on themes such as renewable energy, gender issues, engaging youth, agriculture, health and sanitation. The cost to attend ranges from USD 229 to USD 1,199. For further information, you may contact the organizers at SankalpForum[at]intellecap.net or +91 022 6195 2700.

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 participate in EduFinance’s offerings of wholesale funding for schools and related technical assistance.