AfriCap - Microfinance fund

AfriCap is a landmark fund. Established in 2001 AfriCap is a Mauritian based investment company operating out of Johannesburg and investing solely in Microfinance and microfinance related industries throughout Africa. Using a combination of developmental and private investors, AfriCap generates both financial and social returns through investing in institutions committed to serving low-income communities without access to conventional banking services.

AfriCap currently has 10 investments across 11 countries in equity and quasi equity instruments and maintains the role of active minority investor by providing governance, management advice and technical assistance. In 2007 AfriCap closed a second round of funding; raising its capital to $50 million and reconstituting as a permanent capital investment company - AfriCap Microfinance Investment Company.

Village Phone Nigeria

Making a phone call is something that many people take for granted. Yet millions in rural villages around the world simply do not have easy or affordable access to a telephone. The Village Phone concept was developed precisely to help extend access to telecommunications beyond the urban areas.

Started by GrameenPhone in Bangladesh -- a client of IFC, IFC is now working with MTN (also an IFC client) and other partners to replicate the Village Phone concept in several African countries, starting with Nigeria.

IFC also collaborated with the Grameen Foundation and other partners to create a Village Phone Replication Manual -- essentially a 'how-to' resource for setting up a Village Phone project.

Beyond providing much needed communication access, the Village Phone model goes a long way to empower the women operators, spur economic activities and promote entrepreneurialism.

Third World First - Boston Globe

Courtesy Jeremy Kahn (Boston Globe)

Boston Globe has a great article about how the third world adopts and embraces technology that developed countries don't have yet. Tom Friedman in his book, mentions technology has made the world flat and developing nations are using technology to enhance growth. The Internet and the mobile phone has shrunk the world, enable cheaper communications and now enabled commerce by mobile phone.

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