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Mar 2010
New Microfinance Bank Begins to Operate in Tajikistan
March, 31 2010
Dushanbe, Tajikistan - A new microfinance bank, AccessBank Tajikistan, which announced the start of operations on March 29, will expand the availability of credit for micro and small enterprises in the country. ...
Establishment of the World Diaspora Fund
March, 31 2010
Geneva, Switzerland - The WDF will invest through loans, guarantees, or even taking stakes in microfinance institutions in the South. The Fund will also participate in financing infrastructure identified by the migrants ...
Individual Investors Look to Back Microfinance Institutions
March, 30 2010
Bangalore, India - It’s not usual for individuals in India to invest in micro-credit firms because of the high risk involved in lending to the poor. But the industry’s robust growth projection is beginning to make a few rich investors like Ramachandran more confident about it ...
Nigeria: German Bank to Invest in Country's Microfinance Sector
March, 29 2010
Lagos, Nigeria - Germany's BANK IM BISTUM ESSEN has indicated interest to invest in Nigeria's microfinance sector through Enugu-based Umu-chinemere Pro-Credit Micro Finance Bank Nigeria (UPMFB) Limited ...
The Bigger Picture for Microfinance
March, 29 2010
London, United Kingdom - Mercedes Canalda de Beras-Goico faces a balancing act familiar to many leaders of growing businesses: how to manage rapid expansion while staying close to her core clients. Unlike most business leaders, however, her largely female customers are poor, rural entrepreneurs ...
Unitus Teams Up With OPIC & Citi to Make $15 Million Available for the Development of Emerging Microfinance Institutions
March, 29 2010
Seattle, United States of America - In their ongoing effort to empower the world's poor through microfinance, international nonprofit Unitus, Inc., the Overseas Private Investment Corporation (OPIC), and Citi have finalized a $15 million credit facility that will help foster growth among high-potential microfinance institutions (MFIs) and create more opportunities for families working their way out of poverty. ...
LeapFrog Poised to Invest $112 Million in Insurance and Microfinance Companies, After Historic Commitments by IFC, KfW, Flagstone and Soros
March, 29 2010
Frankfurt, Germany and Washington, United States - LeapFrog Investments, the world's first microinsurance fund, announced today that it has surged past its $100 million target capitalization, months ahead of schedule. Leading global investors have aligned behind LeapFrog's ground-breaking profit-with-purpose investment strategy, with four new investors announcing their commitments today. ...
Indonesia: Ministry Wants Bank Rakyat Indonesia to Seal Deal for Bank Agro
March, 28 2010
Jakarta, Indonesia - The State Enterprises Ministry has given its blessing to state-owned PT Bank Rakyat Indonesia’s bid to acquire PT Bank Agroniaga, and called for the deal to be completed quickly to spur lending to the agricultural sector. ...
Serbia: EFSE Signs Its Largest Loan Agreement Ever: EUR 25 Million to Banca Intesa
March, 26 2010
Frankfurt & Belgrade, Serbia - The European Fund for Southeast Europe (EFSE), the world's largest microfinance investment fund, and the commercial bank Banca Intesa a.d. Belgrade (Banca Intesa), Serbia, today announced the signing of a senior loan agreement. ...
Oikocredit: EUR 1 Billion Cumulative Investments with Social Impact
March, 25 2010
Amersfoort, The Netherlands - In 2009, a year when financial institutions encountered difficult market conditions, Oikocredit - one of the world's largest private financiers of the microfinance sector - achieved record high inflows. ...
Pakistan: SBP Launches Schemes to Boost Credit Flow
March, 20 2010
Karachi, Pakistan - State Bank of Pakistan Governor Syed Salim Raza has launched two separate schemes aimed at enhancing the flow of credit to the Small and Rural Enterprises with greater emphasis on revitalization of business activities in the troubled areas of North West Frontier Province (NWFP), Federally Administered Tribal Area (FATA) and Gilgit-Baltistan (GB). ...
Public and Private Investors Launch New Lending Facility for Microfinance in Cancun
March, 20 2010
Cancun, Mexico - Citigroup’s Banamex joins the IDB Group and its partners in launching the Microfinance Growth Fund, which opens its doors for business in Latin America and the Caribbean. ...
Savings and the poor. A better mattress.
March, 19 2010
London, United Kingdom - Microfinance focuses on lending. Now the industry is turning to deposits ...
Senegal: Small And Medium-Sized Businesses Cannot Access Bank Credit
March, 18 2010
Dakar, Senegal - Despite the financial sector boom in Senegal, small and medium sized businesses (SMBs), which represent over 90 percent of the industrial fabric of the country, struggle to access funding for their development, their representatives claim ...
Nigeria: CBN to Abolish Universal Banking Licenses.
March, 16 2010
Nigeria - The Central Bank of Nigeria (CBN) yesterday said it would soon stop the issuance of universal banking licenses to operators in the nation’s banking industry ...
China Post Life Launches Rural Individual Life Microinsurance Pilot Program
March, 16 2010
Hong Kong - China Post Life Insurance Co. Ltd. won approval to start a pilot program for rural individual life microinsurance, said the China Insurance Regulatory Commission ...
India: SKS Microfinance may hit Street with Rs 1,000-cr IPO
March, 16 2010
New Dehly, India - Hyderabad-based SKS Microfinance is looking to raise Rs 1,000 (USD 219 ml.) crore from its upcoming public flotation , whose progress is being keenly watched as it is the first share issue by a company in the fledgling microfinance sector. ...
India: MFI Funds Widen Focus to Cover New Social Sectors
March, 16 2010
Noida, Uttar Pradesh, India - Micro-insurance, micro housing finance, remittances and services in education & healthcare are coming under their radar ...
Azerbaijan: AccessBank issues Shares for 20 Million Manats (USD 24 ml.)
March, 15 2010
Baku, Azerbaijan - The State Committee for Securities has registered an issue of AccessBank’s shares ...
Kenya: Security for Shillings
March, 11 2010
United Kingdom - Kilimo Salama, which in Kiswahili means “safe farming”, uses a combination of mobile phones and 30 automated solar-powered weather stations to provide crop insurance ...
Boost for Mobile Banking for the Unbanked as CGAP, DFID Announce New Partnership
March, 11 2010
Washington and London - Housed at the World Bank, CGAP Technology Program working for poor people to get safe ways to send, receive, and save money ...
India: MFI-Focused Elevar Equity Raises $70M Fund
March, 11 2010
Noida, Uttar Pradesh, India - Elevar Equity Advisors Pvt Ltd, a Bangalore-based private equity fund, has raised a $70-million fund, which will invest in microfinance and other essential services in India, Mexico, the Philippines and Peru. This is the third fund of Elevar ...
Sequoia May Pick Up 9.4% in CARE
March, 09 2010
New Dehli, India - Private equity firm Sequoia Capital is looking to pick up 9.4% stake in rating agency Credit Analysis and Research Ltd (CARE) for Rs 73.5 crore, people close to the development said. ...
Janalakshmi Financial Gets $10 Mn from Treeline Asia
March, 09 2010
Noida, U.P. - Janalakshmi Financial Services, a Bangalore based microfinance institution (MFI), has raised $10 million in its series B funding led by Treeline Asia Master Fund. The Hong Kong and Singapore-based hedge fund has invested in this round with Bellwether Microfinance Fund, an existing investor. ...
Nigeria: Mergers, Acquisition Imminent in Mfb Sector
March, 09 2010
Washington, United States - The recent focus of the Central bank of Nigeria (CBN) to the Microfinance Banking sector (MFBs) to enhance regulation and supervision may lead to massive mergers and acquisitions to limit possible cases of close down as the apex bank plans to jerk up minimum capital base in the sub-sector any moment from now ...
India: SKS Microfinance to file for IPO in 3-4 weeks
March, 08 2010
Mumbai, India - SKS Microfinance, a firm that makes small loans to poor borrowers, plans to file application papers for an IPO in 3-4 weeks, three sources with knowledge of the deal said ...
CGAP, Deutsche Bank, Grameen-Jameel and IDB partner to launch ‘Islamic Microfinance Challenge 2010'
March, 08 2010
Zurich, Switzerland - CGAP, Deutsche Bank, Grameen-Jameel and Islamic Development Bank have joined forces to challenge the Islamic microfinance industry to develop new ideas for business models in the Islamic Microfinance Challenge 2010: Innovating Sustainable, Scalable, and Market-Driven Models. ...
Aavishkaar Goodwell Hits Road to Raise $100M Fund
March, 08 2010
Noida, India - The MFI-focussed player is spreading its focus to housing finance firms and technology firms in the social space. ...
ACCION Launches Microfinance Operations in Inner Mongolia
March, 04 2010
Boston, United States - ACCION® International, a pioneer and leader in global microfinance, announced today that it has inaugurated ACCION Microcredit China (AMC) in Chifeng Prefecture, Inner Mongolia, to deliver financial services to the region's working poor. AMC officially opened its doors in early December, and is already making microloans to local entrepreneurs. ...
Ghana: 1st Private Equity Micro-Finance Fund Launched
March, 03 2010
Ghana - Social investment firm, JCS Investments say plans are underway to make the initial investment of the first Private equity Micro-Finance Fund in Ghana before the end of the second quarter of this year ...
IFC and Fundación Mundo Mujer to Reach Entrepreneurs and Low-Income Households
March, 02 2010
Bogotá, Colombia - IFC, a member of the World Bank Group, is providing Advisory Services to Fundación Mundo Mujer to support its transformation from a microcredit nongovernmental organization to a regulated financial institution specializing in microfinance to increase access to finance for entrepreneurs and low-income households ...
Investors Backing Microfinance Despite Impact of Crisis
March, 02 2010
Washington, United States - World markets have been volatile in the wake of the global financial crisis, but investors showed nearly unshakeable faith in the microfinance sector during 2009, driving equity valuations higher even as asset quality and profitability at microfinance institutions (MFIs) deteriorated ...
Microfinance's Midlife Crisis
March, 01 2010
United States - From humble beginnings, microfinance—a system of providing tiny loans and savings accounts to the poor—has grown into a global industry attracting the interest of large multinational banks. But the commercialization of the industry has sparked a fierce debate. Profit advocates highlight improved access to foreign capital and expertise; traditionalists say microfinance companies are in danger of becoming little better than predatory moneylenders ...

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