All News and Announcements
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.