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Coping with a Crisis
November, 30 2008
Warsaw, Poland - The world of developed financial markets seems broken. What do microfinance institutions (MFIs) have to do with this
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India: Spandana Gets $75 m Credit Line from ICICI
November, 28 2008
Hyderabad-Mumbai, India - Spandana, the country’s second largest micro-finance institution (MFI) by assets, has secured a Rs 300 crore ($75 million) line of credit from ICICI Bank in what is being touted as the largest securitisation deal in the microfinance space.
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Cameroon: Boom Time for Microfinance
November, 26 2008
Garoua, Cameroon - Microfinance institutions (MFIs) have improved access to credit and banking services for poor Cameroonians. But the rapid growth in the number and size of these institutions in recent years is underpinned by dangerous disorder
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Uganda: Credit Crunch Hurts Tiny Loan Holders
November, 26 2008
Kampala, Uganda - A global credit crisis that has felled large investment banks and prompted multi-billion dollar bailout packages is also hurting Uganda's microfinance industry
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Crunch Time for Microfinance - Final Thoughts
November, 24 2008
Washington, United States - CGAP ran a virtual conference last week on microfinance and the financial crisis. This article summarizes the main arguments highlighted by participants during the conference.
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India: Microfinance Institutions Benefit from Slowdown
November, 23 2008
Hyderabad, India - While most corporates are reeling under the adverse impact of the global economic slowdown and domestic liquidity crunch, microfinance institutions (MFIs) seem to have a different story to tell
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New Microfinance Foreign Exchange Risk Management Group, Cygma, Believes Credit Crunch Provides Business Opportunity
November, 21 2008
Washington, United States - Cygma, the new microfinance foreign exchange (FX) risk management group, believes that the current financial situation is driving people in the microfinance industry to use foreign currency hedging facilities. The organisation will be launching its FX hedging products for illiquid and difficult-to-hedge emerging markets currencies in the first quarter of next year. These will be executed directly by the firm without reliance on third parties, supported by its USD 50 million capital reserve fund
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India: Ujjivan Raises Rs 94 cr (USD 18.9 ml) in 4th Round Funding
November, 21 2008
Chennai, India - Ujjivan Financial Services, the Bangalore-based microfinance institution focusing on the urban and semi-urban poor, has completed the fourth round of equity infusion by raising Rs 94 crore. Originally planned for Rs 75 crore, the equity round was oversubscribed
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Special Report Looks At The Microfinance Industry’s Changing Strategies
November, 20 2008
Thailand - Microfinance institutions (MFI) have made significant strides in recent years in generating interest among mainstream investors. And while current market conditions will likely dampen the rate of growth and present serious challenges to the sector, it still appears to be on the path to becoming an emerging market asset class, according to a new Standard & Poor's Ratings Services special report
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Small is Beautiful: Want a Safe Bet for 2009? Try microcredit
November, 19 2008
London, United Kingdom - Wall Street’s titans minted money in good times but now find it hard to repay their debts, if they are in business at all. Ironic, then, that many of the world’s poor are better credit risks than the once-high-flyers at Lehman Brothers. This is one of the attractions of microcredit, the lending of tiny sums—as little as $50—to people at the bottom of the economic pyramid. It is an increasingly bright light in the gloom of the financial world
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Microfinance and the Financial Crisis
November, 18 2008
Washington, United States - In most financial crises – especially those of the 1990’s - Mexico, Asia, Russia - financial services for poor people have shown remarkable resilience to shock. Nevertheless our present crisis is like no other, and microfinance is far more connected now.
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Global Credit Crisis Hurts Tiny Loans in South Asia
November, 17 2008
Mumbai, India - A global credit crisis that has felled large investment banks and prompted multi-billion dollar bailout packages is also hurting unlikely victims half a world away: small south Asian businesses dependent on microfinance
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Investing for Social Impact Lures Investors
November, 17 2008
New York, United States - The term "community investing" refers to investment options with a strong local or geographic connection. This would include both domestic options such as investing in underserved communities or international options such as microfinance.
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Crunch Hits Microfinance
November, 13 2008
Netherlands - The credit crunch is causing institutional investors to shy away from committing to microfinance funds, says a leading player
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Institutional Investors Stay Interested in Microfinance
November, 12 2008
Netherlands - SNS Asset Management has closed its second institutional microfinance fund with a commitment of more than € 113 million. This second fund is – in common with the first fund - founded exclusively for institutional investors.
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India: SKS Microfinance Raises Rs 366 Cr ($75 Million) in Fourth Round
November, 10 2008
India - In the largest microfinance deal in the world, Hyderabad based SKS Microfinance has raised Rs 366 crore or $75 million from private equity investors. This is fourth round of fund raising by SKS. Sandstone Capital, an India focused hedge fund with $1 billion capital under management, has led the deal, while the other investors in this round include SVB India Capital and Kismet Capital
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First Arab Microfinance Investment Symposium
November, 06 2008
Dubai, United Arab Emirates - Grameen-Jameel, a social business that serves the Arab microfinance industry, is co-hosting the region's first Arab Microfinance Investment Symposium on the 30th of November 2008 in Dubai with Geneva-based microfinance fund manager BlueOrchard.
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USAID and Oikocredit Announce $36.2 Million Guarantee for Microenterprise Activities
November, 06 2008
Washington D.C., United States - The U.S. Agency for International Development (USAID), and Oikocredit, a socially responsible cooperative, announced a 10-year partial credit guarantee that will leverage $36.2 million in private financing to support microfinance activities in underserved areas and populations in sub-Saharan Africa and other developing regions
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Financial Crisis Glossary – a Guide to the Buzzwords of the Crisis
November, 05 2008
Washington DC, United States - Every day there's a new word entering the lexicon--some of it well established terminology from accounting and economics, some of it the creative buzz of a crisis, and the rest just plain jargon. Here we take a look at some of the most common terms affecting microfinance.
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Microfinance Programmes Reaching out to Muslim Women
November, 04 2008
Dubai, United Arab Emirates - The International Finance Corporation (IFC), a member of World Bank Group, has dispersed almost $600 million (Dh2.2 billion) in the greater Middle East region, while working with 11 microfinance institutions (MFIs).
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Offshore Microfinance - The Only Legitimate High Yield Investment Program?
November, 04 2008
- If you are looking for one of the very few genuine ‘high yield investment opportunities,’ you couldn’t do much better than microfinance - that is loaning money in small amounts at high interest rates to small business people in developing countries. The great thing about this investment is you can earn great returns and do good, helping entrepreneurs in the developing world, at the same time. It is something myself and a few of my clients have been investing in for several years now
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