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Kazakhstan to get huge IFC loan for its microfinance
International Finance Corporation (IFC), a member of the World Bank Group, is providing a senior syndicated loan of $82 million equivalent in Kazakh tenge to “Microfinance organization “KMF” LLC, a leading Kazakh microfinance institution, to boost lending to micro and small enterprises, including women entrepreneurs and customers in rural areas of Kazakhstan, the press service of IFC said in a message.
- Region
- Europe & Eurasia
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IDB Launches Initiative to Promote Savings for Retirement in Latin America and the Caribbean
According to the IDB, most workers in Latin America and the Caribbean are not saving for retirement, which will make it difficult for them to have a good life when they reach old age, especially for low-income and independent workers.
- Region
- Latin America
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Nigeria’s mobile money scheme crawls at 1% penetration
After about five years of operation in Nigeria, mobile money has only been able to attract just one per cent penetration.
- Categories
- Finance
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Global Findex: Technology Can Bridge Financial Inclusion Gap
A new World Bank report based on data collected in partnership with Gallup shows that 1.2 billion adults worldwide have opened a bank account since 2011, including 515 million in the past three years. Globally, 69% of adults -- 3.8 billion people -- now have an account at a bank or with a mobile money provider.
- Categories
- Finance, Technology
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Press release: Bamboo Capital Partners exits from Mibanco, Latin America’s largest microfinance provider
Bamboo’s investment in Mibanco via its Financial Inclusion Fund I (FIF I) is Bamboo’s most significant investment to date. Following the investment, which made Bamboo the largest minority shareholder, the firm held a seat at Mibanco’s board where it provided strategic input and guidance throughout the investment period.
- Source
- Press release
- Categories
- Investing
- Region
- Latin America
- Tags
- microfinance
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China’s VC firm LUN Partners leads $4.5m Series B in fintech firm MFS Africa
The funding round makes MFS Africa, operator of the largest digital payments network in Africa, the first African fintech company to receive funding from a China-based VC, according to a statement released on Wednesday.
- Region
- Sub-Saharan Africa
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Inter-American Development Bank Publishes Report on Fintech Sandboxes
According to the IDB report, Fintech has been gaining strength throughout the Latin American and Caribbean region.
- Categories
- Finance
- Region
- Latin America
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Press release: Mobile Lender Tala Announces India Expansion, Fueled by USD 65m in New Financing
The U.S.-based financial technology company has delivered credit to nearly 1.3 million customers and originated more than $300 million globally.