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Apr 2010
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 ...
Tajikistan: IFC, Partners Launch Tajikistan's First Credit Information Bureau
April, 29 2010
Dushanbe, Tajikistan - IFC, a member of the World Bank Group, and its partners today marked the official registration of Tajikistan's first private credit bureau, a long-awaited component of the financial infrastructure and a crucial mechanism for expanding credit for people and small business ...
Nigeria: Microfinance Institutions Move to Save Sector
April, 27 2010
Abuja, Nigeria - A group of micro- finance institutions, comprising microfinance banks, co-operative societies and NGOs, has come together to seek funds for the survival of the microfinance sector ...
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. ...
India: Sequoia Exits from Manappuram with 5x Returns
April, 24 2010
Bangalore, India - In early 2007, Sequoia had invested $14 million in the firm for nearly 14% stake. Sequoia has now sold its entire stake for $70 million in the open market ...
ADB Supports 3 Uzbekistan Banks on Microfinance Lending
April, 23 2010
Tbilisi, Georgia - The Asian Development Bank 's (ADB) Board of Directors has approved a $50 million loan and a $600,000 grant to help three Uzbekistan banks expand finance to small and micro businesses. ...
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 ...
ACBS Secures U.S.$400 Million for Microfinance Banks
April, 23 2010
Nigeria - A Nigerian finance mediation firm, Africa Capital and Business Support Limited, has secured funding totaling $400million for microfinance banks in the country. ...
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 ...
United States: CHF International Expands Reach of Global Microfinance Initiatives by Selling First Minority Stake in New Holding Company CHF Finance Group
April, 21 2010
Silver Spring, United States - CHF International, the Silver Spring-MD based international development and humanitarian assistance organization, continues to break new ground with the creation of a private holding company, CHF Finance Group, for its most commercially oriented global microfinance subsidiaries. ...
India: Jim Roth: We Will Invest $5-15 Million Across Portfolio Companies
April, 20 2010
New Delhi, India - LeapFrog Investments, a Mauritius-based fund that invests in microfinance institutions (MFIs) offering insurance to the poor, is looking to deploy around $40 million (Rs178.4 crore) from its $110-million global fund in India. ...
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 ...
Mexico’s Compartamos Seeks to Buy Micro-Finance Lender Abroad
April, 15 2010
Monterrey, Mexico - Banco Compartamos SA, the Mexican bank that lends to the working poor, is seeking to purchase a micro-finance bank outside of Mexico to expand abroad, Chief Executive Officer Fernando Alvarez Toca said. ...
Nigeria: Islamic Microfinance Bank Launched
April, 14 2010
Lagos, Nigeria - The first Islamic micro finance bank in the country, Al-Barakah Micofinance Bank was yesterday commissioned in Lagos ...
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 ...
Cambodia: Microfinance Lending Sees Growth
April, 12 2010
Phnom Penh, Cambodia - MFI loans rose across the board in Q1, but profits slumped as institutions slashed interest rates ...
Kenya Licences 2nd Microfinance Deposit Trust
April, 12 2010
Nairobi, Kenya - The Central Bank of Kenya (CBK) has granted a licence to a women finance trust authorising it to carry out nationwide deposit-taking microfinance business ...
IFC To Invest $15M in Aavishkaar Goodwell Fund II
April, 12 2010
Noida, India - Aavishkaar Goodwell is in the midst of raising its second fund, Aavishkaar Goodwell Fund II, of $100 million size ...
China: 1st Microcredit Institution Established inTibet
April, 11 2010
Lhasa, Tibet - Tibet Yurong Microcredit Company, the first microcredit institution in southwest China's Tibet Autonomous Region, was established here on Sunday ...
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. ...
India: RBI Wary of PE Investment in Microfinance Institutions
April, 06 2010
India - In the past ten days there have been two instances of microfinance institutions getting major fund infusions from private equity and this is beginning to worry the Reserve Bank of India (RBI). ...
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 ...
Pakistan: Microfinance Banks Aggressive Lenders Even in Hard Times
April, 04 2010
Karachi, Pakistan - At a time when depressed economic conditions have forced commercial banks to opt for a cautious approach in extending loans, some of the leading microfinance banks have emerged as aggressive lenders ...
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 ...
CLSA Capital Partners Invests US$24 Million In Indian Microfinance Firm
April, 01 2010
Hong Kong - CLSA Capital Partners said Thursday it took a minority stake in Equitas Micro Finance India Private Ltd., a microfinance institution in India, for US$24 milllion ...

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