Posts Tagged ‘AfDB’

Microfinance Focus, Feb 26, 2010: Advans Banque Congo has completed a capital increase bringing total capital to $13 million, the Kinshasa-based microfinance institution announced yesterday in a statement. The capital increase was in response to new minimum capital requirements for commercial banks as set by the Congolese central bank, the bank said in a statement. Advans Banque Congo was incorporated in July 2008 and obtained its ... Full story

Microfinance Focus, Sept. 8, 2009: Japan and the African Development Bank (AfDB) have approved a grant of US$1 million to AB Microfinance Bank of Nigeria (ABN) from the Fund for African Private Sector Assistance (FAPA). The technical assistance contribution from FAPA, which makes up 7.7% of the overall TA package, will be used to co-finance the provision of technical assistance to ABN to build the capacity of the institution during its first few years of operation. FAPA funds will pay to bring in long-term management staff as well as short-term experts for the implementation of new IT/MIS systems and staff training. FAPA funds will cover costs related to these experts for a three-year start-up phase, after which trained ABN staff will replace them. Full story