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Remittances: Oklahoma Bank Partners with Haitian Microfinance Institution to Fight Poverty
February, 28 2008
United States - Fonkoze, Haiti's largest micro-finance institution, and Central National Bank of Enid, Oklahoma, have partnered to create a low-cost stored-value card that offers Haitian Diaspora and others in the U.S. both a convenient way to manage their own finances and an inexpensive way to increase income and investment in Haiti through remittances ...
Mibanco to launch IPO in 2008
February, 26 2008
United States - Peru's leading microlender Mibanco plans to launch an IPO on the Lima stock market this year, sources told BNamericas ...
Taking Microfinance to the Next Level
February, 26 2008
Paris, France - In recent years investors' appetite for microfinance has exploded. A wide variety of players, including hedge funds and venture capitalists, have begun competing to lend money to the institutions that provide such loans. Most investment vehicles are debt vehicles; it is only now that equity investments are being added to debt vehicles ...
MicroPlace: Microfinance for the Masses
February, 24 2008
USA - Working for the Grameen Bank of Bangladesh in the 1990s, Tracey Pettengill Turner saw first hand how microfinance works to lift people out of poverty. What she also learned was how microfinance can be a profitable investment. In October 2007, Turner and eBay launch the first of its kind MicroPlace, a website where investors can chose to invest in microfinance institutions (MFIs) in specific areas of the world ...
Microfinance pioneer expands into US
February, 16 2008
United States - Grameen Bank, founded by Bangladeshi Nobel Prize winner Muhammad Yunus, is taking its pioneering microfinance model to the United States, the Financial Times reported on Saturday ...
Africa Works: Benetton supports and promotes Africa for Africans.
February, 13 2008
Dakar, Senegal - Benetton puts the spotlight on entrepreneurial Africa. Its global communication campaign for 2008 promotes the Birima micro-credit programme in Senegal, a co-operative credit society founded by the Senegalese singer Youssou N'Dour. The programme will also receive financial support from Benetton Grou ...
Colmombia: BBVA unit to invest US$148mn this year
February, 12 2008
Colombia - BBVA Colombia will spend 282bn pesos (US$148mn) this year to open 18 new branches and strengthen its self-service terminals, the bank's recently appointed chairman Óscar Cabrera said in a statemen ...
Microfinance Institution ASA International Secures Largest Equity Capital Commitment Ever to Microfinance
February, 12 2008
New York, United States - Catalyst Microfinance Investors ("CMI") announced today that it has achieved its final private closing with total capital commitments of US$ 125 million (EUR 86 million) from leading international institutional and private investors such as, amongst others, the Dutch pension fund, ABP, and US investor financial services organization, TIAA-CREF. This is the largest collective equity capital commitment to microfinance ever ...
Microfinance seems fairly insulated from credit turbulence
February, 12 2008
United Kingdom - The turbulence in global markets has tightened credit in most of the world's major financial centers, but how has it affected the world of microfinance? Because of its focus on developing countries and small entrepreneurs, microfinance doesn't often attract much attention from Wall Street, London or Tokyo. Yet for an international investor, this budding industry could offer an insurance policy when the major markets go south ...
Afghanistan’s Roshan is to launch mobile payment with Vodafone
February, 11 2008
Afghanistan - Afghanistan operator, Roshan, is going to unveil mobile payment service in cooperation with UK giant, Vodafone. Vodafone already built M-PESA that had been implemented in Kenya. Called as M-Paisa in Afghanistan, the service will act mainly as a vehicle for microfinance institutions’ (MFI) loan disbursements and repayments, with an additional range of business to business applications such as salary disbursement and airtime distribution ...
Electronic Banking to Bring Financial Services to Vanuatu's Rural Areas
February, 08 2008
Manila, Philippines - Rural areas in Vanuatu, out of normal reach of bank branches, will soon enjoy access to modern banking services thanks to funding support from Japan and the Asian Development Bank (ADB) that will bring electronic banking and card-swipe technology as close as the local shop ...
South Sudan orders Islamic banks to leave
February, 06 2008
Juba, Sudan - Three Islamic banks in Sudan's semi-autonomous south are liquidating assets ahead of a deadline to close at the end of February, a south Sudan government official said on Wednesday ...
DID honours four outstanding partners
February, 04 2008
Lévis, Canada - Développement international Desjardins (DID) partners and Proxfin member institutions include individuals who are strongly committed to the development of their community finance institution. Like Alphonse Desjardins, they have shown extraordinary dynamism and creativity to increase access to financial services. During the International Development Week, which takes place from Sunday, February 3 to Saturday, February 9, 2008, DID wishes to highlight the commitment of 4 of these Outstanding Partners. ...