All News and Announcements

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News

Nigeria: Richway Microfinance Bank Wins Best SME Support Bank of the Year 2021 Award

Richway beat a host of other banks at the International Standards Excellence Award 2021, to take home the Award for performing exceptionally in a tumultuous year characterized by the negative impacts of COVID-19 pandemic.

News

COVID-19 Recovery Funds Benefit to 3,000 Businesses in Rwanda

The Executive Director of Association of Microfinance Institutions said that a total amount ranging between RWF 4 billion ($4M) and RWF 5 billion ($5M) has been channeled through microfinance institutions to help small businesses recover from COVID-19 effects.

News

Kenya: Central Bank Releases Over KSH55B (~ $500M) to Rescue Struggling Local Lenders

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.

News

Africa’s Financial Regulators Prioritize de-Risking of Vulnerable Groups

Women, youth and micro, small and medium enterprises in Africa are most at-risk of financial exclusion during COVID-19, say Bank of Tanzania and Alliance for Financial Inclusion.

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IFC and FMO Partner With I&M Bank Ltd. to Support Small and Medium-Sized Businesses in Kenya

The loan will help smaller businesses across a range of sectors in Kenya access financing for working capital, expansion, and to weather the effects of COVID-19.

News

More Nigerians to Benefit From COVID-19 Loan

The Central Bank of Nigeria, through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises and households affected by COVID-19 to access up to $70,000.

News

Sao Tome and Principe: World Bank Boosts Improvements in the Banking System, Access to Finance

This $7 million financing for the ongoing Institutional Capacity Building Project will help scale-up activities with the Central Bank of Sao Tome and Principe and support system modernizations as part of the COVID-19 mitigation response.

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Kenya: Remittances to Kenya Resist COVID-19

The increase in remittances comes despite the impact of the pandemic on wages and employment across the world.

News

Africa: IFC Announces $2 B Investment in SMEs and Trade to Support Recovery From COVID-19

The $2 billion IFC commitment will support the continent's economic recovery from the pandemic by sustaining and creating jobs and business activity.

News

Kenya's Slum Vendors Rely On Savings Groups to Survive COVID-19

Faced with challenges, a growing number of vendors in Kenya's slums turned to credit unions and savings groups, which could provide loans without collateral, to boost their businesses.