Financial inclusion

Although progress has been made in the past ten years, financial inclusion remains challenging across the whole of the African continent.

Accion and Nuveen are among backers for FlexiLoans, which is helping to support millions of India’s small businesses currently excluded from the mainstream financial system.

The Norwegian development finance institution has invested $10m into Honduran bank Banco Popular to improve access to financial services for micro, small and medium-sized enterprises in Honduras.

Kashf Foundation is working in a holistic way to do more than just deliver microfinance solutions. It wants to change mindsets, says its founder and managing director, Roshaneh Zafar.

The Dutch development bank FMO and Austrian DFI Oesterreichische Entwicklungsbank have invested $20m into the Regional MSME Investment Fund for sub-Saharan Africa.

The Dutch institution says its largest ever syndicated loan will provide crucial support for beleaguered small businesses facing the country’s difficult economic conditions. BII and Swedfund are among the DFIs backing the facility.

In a new report, the consultancy highlights how private debt funds continue to support growing companies in emerging markets, with the total target size of funds currently open for investment standing at €44bn. 

British International Investment, the UK’s development finance institution, is funding a second green bond arranged by Symbiotics, lending to MSME banks supporting India’s green energy goals.

Staff at the Swedish flat-pack furniture giant will help the social entrepreneurs build a more inclusive, sustainable economy and create opportunities for local communities.

The funding by the UK’s development finance institution and impact investor will boost the national grid’s supply of sustainable and affordable electricity in low-income areas in rural Tanzania.