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Microfinance Goes Public
April, 30 2010
New York, United States - India's largest microfinance institution, SKS, recently filed a draft prospectus to sell shares on the India stock exchange in an initial public offering. This IPO will be an historic milestone for the poor in India and beyond, opening the door to assisting them on a scale never seen before in this region ...
Kenya: Insurers Turn to Low-End Niche to Boost Profits
April, 27 2010
Nairobi, Kenya - Insurance companies are fast embracing the low-end market as they seek new avenues for profits in an industry that has witnessed near stagnant growth. The number of firms offering micro insurance has grown from a single firm in 2007 — CIC insurance — to six, including Old Mutual, Kenya Orient, British American, UAP and Apollo. ...
With Impact Investing, a Focus on More Than Returns
April, 23 2010
New York, United States - The very phrase “impact investing” sounds rapacious, but it is an emerging hybrid of philanthropy and private equity that proponents say is about to become more widespread. It is also something that has some very rich people intrigued. ...
India: Microfinance Rates Soon a Click Away
April, 23 2010
Mumbai, India - To bring in transparency the interest rates charged by various microfinance institutions, who lend to rural and urban poor, shall be available online for all to access ...
ACCION USA Announces Launch of Green Small Business Loan Program
April, 22 2010
New York, united States - Small Business Loans are Now Available in New York and Massachusetts to Help Businesses Go Green and Save Money. ACCION USA, the Largest Nonprofit Microfinance Organization in the United States, is Offering Loans up to $50,000 to Eco-Friendly Small Businesses, and Business that Want to Go Green and Save Energy ...
India: SKS Microfinance Eyes Banking Foray
April, 18 2010
Mumbai, India - Leading microfinance player SKS Microfinance is planning to enter the banking space and is awaiting Reserve Bank of India's (RBI) guidelines in this regard to seek the licence, a source close to the development said ...
Philippines: Microfinance Swells to P12-B Industry
April, 18 2010
Manile, Philippines - From just a handful of lenders and several thousand borrowers in the 1970s, the business of microlending and microfinance has ballooned into a P12- billion industry serving an estimated seven million poor Filipinos, most of them women ...
Russia: Draft Law on Microfinance Institutions Brought to Duma
April, 15 2010
Moscow, Russia - The government has submitted to the State Duma a draft law on microfinance institutions, the parliament’s lower chamber said. According to the draft law, the full name of which is “On Microfinance Activity and Microfinance Institutions”, a register of companies that engage in microfinance activities will be created in Russia ...
Banks Making Big Profits From Tiny Loans
April, 13 2010
New York, United States - In recent years, the idea of giving small loans to poor people became the darling of the development world, hailed as the long elusive formula to propel even the most destitute into better lives. But the phenomenon has grown so popular that some of its biggest proponents are now wringing their hands over the direction it has taken. Drawn by the prospect of hefty profits from even the smallest of loans, a raft of banks and financial institutions now dominate the field, with some charging interest rates of 100 percent or more ...
Profiting from Poverty? Microfinance IPO Sparks Debate
April, 09 2010
Mumbai, India - An initial public offer by India's SKS Microfinance is likely to set the stage for more such offers in the world's largest microlending market, but it has also sparked a debate on the ethics of profiting from the poor ...
Barclays Launches Microfinance Partnership
April, 09 2010
Nairobi, Kenya - Barclays and international development organisations CARE International (CARE) and Plan, Friday launched Banking on Change in Kenya, a unique and pioneering microfinance initiative aiming to reach half a million people in ten countries across the world. ...
EFSE and Intesa Sanpaolo Banka in Bosnia and Herzegovina Sign EUR 6 Million Credit Line
April, 08 2010
Frankfurt & Sarajevo, Bosnia and Herzegovina - The European Fund for Southeast Europe (EFSE), the world’s largest microfinance investment fund, is extending a EUR 6 million credit line to Intesa Sanpaolo Banka d.d. Bosna i Hercegovina, Sarajevo, Bosnia and Herzegovina, to address the housing needs of the population of Bosnia and Herzegovina and improve living conditions in the country. ...
Philippines: Serving the Unbanked through Microfinance
April, 06 2010
Manila, Philippines - About 2.5 billion or more than a third of the world’s population still do not use banks or microfinance institutions (MFIs) to save or borrow money, according to a global management and consulting firm. ...
Nigeria: The Hidden Merits of Microfinance
April, 05 2010
Abuja, Nigeria - In Nigeria, only about 35% of the economically active population has access to formal financial services, according to the Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, published 2005 ...
India: Three Equity Firms to Pick up 15% in BSFL
April, 04 2010
Mumbai, India - Three venture capital investors will buy a stake of around 15% in Bhartiya Samruddhi Finance Ltd (BSFL), a microfinance institution (MFI) that lends small amounts to poor customers who are unable to borrow from banks, two bankers familiar with the development said ...
ABP Spurs Micro Credit Interest with Grassroots Investment
April, 01 2010
Netherlands - ABP, the giant industry pension fund for Dutch civil servants, has raised its interest again in microfinance initiatives and invested $30m (€22.3m) in a global private equity microfinance fund from Grassroots Capital ...