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MTN Takes on Vodacom to Become Africa’s Biggest Digital Bank
Already the continent’s biggest mobile-phone company by subscribers, Johannesburg-based MTN is adding about 500,000 active banking customers a month, Chief Executive Officer Rob Shuter, 50, said on Wednesday. About 20 million people use MTN’s mobile banking now, he said in an interview at Bloomberg’s office in the South African city.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Press release: Bamboo Capital Partners and Persistent Energy Capital enter strategic partnership to fuel the future of off-grid energy in emerging markets
Bamboo Capital Partners (“Bamboo”), an impact investment private equity firm delivering social and financial value, has entered a strategic partnership with Persistent Energy Capital (“Persistent”), an investor in and builder of start-up and early stage enterprises in the off-grid energy sector in emerging and frontier markets.
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Demonetization’s impact on domestic remittances
Trends in domestic remittances before and after demonetization would provide an insight into the impact of the policy on incomes, liquidity, as well as choice of digital channels by members of the informal sector. Such data is, naturally, not yet available. However, there is a fascinating category of firms whose experience during this period can provide important perspectives.
- Region
- South Asia
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Centrum Capital to acquire FirstRand Bank’s microfinance business in India
As part of starting up, Centrum Capital has executed a definitive agreement to acquire the Indian microfinance business of South Africa-based FirstRand Bank, which currently has around 70,000 customers in the Maharashtra region and employs over 300 people. This is the second lending business the firm has recently entered, following its entry into affordable housing finance at the end of last year.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Shell and FMO to finance impact projects in Africa and India
The parties have signed a memorandum of understanding, agreeing to co-fund and co-create project opportunities in the energy access and clean energy sectors in the two regions, including investment in financial institutions with specific goals to increase access to finance, reduce inequality and promote green financing and agribusiness.
- Categories
- Agriculture, Energy, Investing
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The U.S. government is investing about $200 million in overseas venture capital funds
The program, unveiled Wednesday at a conference by the Overseas Private Investment Corporation, will dedicate around $200 million over the next few years in 10 to 15 venture funds that focus primarily on making a social impact in overseas countries. The exact amount of money allocated could change, but is expected to be in the hundreds of millions of dollars.
- Categories
- Investing
- Region
- North America
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Crowdfunding is a critical source of alternative financing for SMEs in Malaysia
According to findings of its research study released on Wednesday, the key priorities to boost crowdfunding include building an informed community among small business owners and the general public, grooming entrepreneurs.
- Categories
- Investing
- Region
- Asia Pacific
- Tags
- crowdfunding
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Muhammad Yunus: No reason for Grameen Bank operations in India
"In the mean time I suggested (them) to give limited banking license to successful MFIs (microfinance institutions) so that they can take deposits to become financially self- reliant, and expand their operation at a faster speed," he says.
- Categories
- Uncategorized
- Region
- South Asia
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