Opportunity International and Oikocredit will mobilize the funds over the next three years with an initial, near-term focus on Ghana, Kenya, Nigeria, Senegal, and Uganda.

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.

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.

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.

Research finds that the Symbiotics portfolio is recovering from the crisis stemming from the pandemic and its partners from the Caucasus region are following a similar trend, but at a slower pace. 

The foundation has announced its disbursal of local-currency loans to Togo-based Assilassimé Solidarite in an amount approximately equivalent to $2.5 million and Agora Microfinance Zambia in an amount approximately equivalent to $1.2 million.

Under this partnership, Orange will deploy Ericsson's Mobile Financial Services solution - Ericsson Wallet Platform - across fourteen of the countries in the region where Orange Money is available, starting with Senegal. 

The proceeds will be used to fund solely green projects: renewable energy (C&I solar, roof-top solar), hydro power, and biomass energy.

The main objectives of the assignment were to design agency banking business model, map potential agents’ locations throughout the country, and provide technical assistance for branding, advertising, consumer education and industry sensitization on agency banking. 

"We want to be the power that helps emerging markets reach a faster economic development," OPay Chief Executive Officer Yahui Zhou said in a statement.