13 August 2024

n°162
newswatch

Aug 12
CreditAccess India Seeks $2.7-Bn Valuation for CreditAccess Grameen, Eyes Biggest MFI Deal
CreditAccess India BV, a Netherlands-based firm holding 66.56 percent in CreditAccess Grameen, seeks a valuation of around $2.7 billion for the microfinance company. This potential deal would be the biggest in India's $51-billion MFI space. Promoters have engaged investment bankers Jefferies, Barclays Investment Bank, and Bank of America to identify potential buyers.
Source: Money Control
Aug 9
Philippines: BSP Lifts Moratorium on Establishment of Digital Banks
Earlier, the BSP capped the number of digital bank licences to six and temporarily closed the application window effective 31 August 2021, to enable the BSP to monitor the performance and impact of digital banks on the banking sector as well as evaluate their contribution to the BSP’s digital transformation and financial inclusion goals/agenda.
Source: The Asian Banker
Aug 7
Mexican Unicorn Stori Raises $212M to Enhance Financial Inclusion across Latin America
The funding will support Stori’s mission to democratise access to high-quality financial services for the underserved middle mass population in Latin America. The company plans to continue scaling its existing products and launching new ones to meet the growing needs of its users.
Source: Fintech Global
Aug 7
UN Report Records First Drop in Energy Access in Decade
The SDG 7 (affordable and clean energy) custodian agencies have launched their annual progress report warning of a worsening global energy gap. The report reveals that 685 million people were without access to electricity in 2022 – 10 million more than in 2021. This is the first time the number of people without access to electricity increased in over a decade.
Source: SDG IISD
Aug 7
Adenia Sells Leading African Payment Industry Player to SPE Capital
Adenia, a leading private equity firm focused on growth opportunities in Africa, has finalized the sale of its 100% equity stake in OMOA Group (“OMOA”) to SPE Capital, a private equity firm focused on the Middle East and Africa. Founded in 1999, OMOA is the leading integrated service provider for the payments industry in West and Central Francophone Africa.
Source: AP News
Aug 6
Citi, IFC Launch $2 Billion Sustainable Supply Chain Finance Program for Emerging Markets
The program provides financing options and advisory services to advance financial access for SME suppliers, including underserved SMEs that encounter significant challenges in access to finance.
Source: ESG Today
Aug 6
Nobel Laureate Muhammad Yunus to Lead Bangladesh Interim Government
Bangladesh’s Nobel laureate Muhammad Yunus will head the country’s interim government after former Prime Minister Sheikh Hasina stepped down and fled the country amid a mass uprising against her rule led mostly by students.
Source: Al Jazeera
Aug 6
S. Sinha, CEO of ReNew: Will the Changing Political Climate Turn the Heat on Climate Change?
We have crossed the halfway mark in 2024, a year considered the busiest election year in global history. Nearly 4.2 billion people, half the world's population, have either voted or will vote this year to elect their leaders and governments. How is all of this likely to affect global energy transition? There are four major trends visible so far.
Source: Forbes

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