FINCA Impact Finance’s (FIF) microfinance subsidiary in Malawi, announced that it has secured a $1.5 million USD loan facility with a four-year tenor from the Belgian Investment Company for Developing Countries (BIO).
Agency and mobile banking are effective channels for delivering critical services in markets beset by political and economic upheaval and provide effective means for bringing FINCA Impact Finance closer to where its customers work and live.
Mobile money agents (MMAs) form the backbone of inclusive finance, bringing financial services closer to the unbanked and offering people the ability to move between cash and electronic currency at will. However, agents don’t always have enough resources at their fingertips.
In a recent article published on Forbes.com, FINCA Impact Finance CEO Andrée Simon cautions that the ease of access to finance that fintech provides can also exacerbate indebtedness among borrowers in certain unbanked and under-banked communities.
In a recent online article published by Forbes, FINCA Impact Finance CEO Andrée Simon discusses financial inclusion and how the company seeks to balance the utility of fintech innovation with social impact.
In 2018, FIF launched a diversity and inclusion (DI) strategy outlining 5 key pillars of focus for the company. These pillars emphasize an inclusive workplace, equal representation, equal opportunity, equal pay and increased outreach to women through specially-designed products and services.
FINCA Impact Finance President and CEO Andrée Simon speaks with Jason Pereira, an award-winning financial planner, university lecturer and writer on his latest podcast ‘Fintech Impact’.
In May, FINCA Armenia updated its popular Online (OLA) platform, making it even easier for clients to apply for loans. The new features not only make it more convenient to apply for loans but make loan processing times more efficient.
FINCA Afghanistan’s women-only bank branch is featured as a business case in a brief developed by the Arab Women’s Enterprise Fund (AWEF) for their AWEF Learning Series in partnership with The SEEP Network.
FINCA Kosovo developed the Loan for Women Entrepreneurs in Business and Agribusiness specifically to help women grow and scale businesses. Since launching more than a year ago, the business loans for women have made positive social and commercial impacts, making the case for why financial institutions should emphasize outreach to women clients.
New FIF White Paper looks at successful efforts by FINCA DRC to create new products and delivery channels that emphasize outreach and efficiency. FINCA DRC is building even closer relationships with clients while increasingly utilizing digital channels.