India: the start of a Megatrend
May, 31 2010
India - India's largest microfinance lender, SKS Microfinance, hopes to raise US$250 million in July through an initial public offering (IPO) – the first microfinance institution (MFI) in the country to go for a listing. ...
Tanzania: Project for Low Income Houses on
May, 31 2010
Dar es Salaam, Tanzania - A pilot housing microfinance programme aimed at advancing interest free loans to low income earners was officially launched in Dar es Salaam yesterday. The facility largely targets residents in the informal settlement areas to build better houses and also improve on the ones they were living in ...
Ghana: Barclays Launches Microfinance Partnership with Plan and Care
May, 28 2010
Accra, Ghana - Barclays and International development organisations, Plan and CARE International on Friday launched 'Banking on Change', a microfinance initiative, for about 63,000 people in Ghana. The 10 million-pound programme to be run for the next three years is expected to reach about 500,000 disadvantaged people with financial servi ces in 10 countries across Africa, Asia and South America ...
India: Another MFI Cuts Interest Rates
May, 26 2010
Bangalore, India - Five-year old Ujjivan Financial Services,a Bangalore-based micro lender with 6.5 lakh poor customers,said it will reduce lending rates by up to 290 basis points from July,as it has earned a profit for the first time since inception ...
United Kingdom: EBRD/Daiwa Team Up to Issue Micro Finance Bonds
May, 25 2010
United Kingdom - The European Bank for Reconstruction and Development (“EBRD”) and Daiwa Securities Group are planning an issue of EBRD microfinance bonds that will support the development of micro and small enterprises in the EBRD’s countries of operations ...
Microfinance Foreign Exchange Facilities: Performance and Prospects
May, 20 2010
Washington, United States - Foreign capital investment in microfinance has been booming over the past four years. Commercial cross-border debt and equity invested in microfinance surpassed US$11 billion in 2009, representing an estimated 20 percent of the funding base for specialized microfinance providers. Foreign investment brings important benefits for microfinance institutions (MFIs). It can provide longer term debt maturity and risk capital that often is not available in the local market, but it can come with a significant string attached: foreign exchange risk ...
1,000 Microfinance Organizations & Individuals Join The Smart Campaign
May, 19 2010
Washington, United States - The Smart Campaign, a global initiative to incorporate strong client protection practices across the microfinance industry, announced today that it has reached 1,000 endorsements from microfinance institutions (MFIs), networks, investors, individuals and donors from 106 countries. ...
Microfinance in Brazil
May, 19 2010
Brazil - As a country which is witnessing strong economic growth exemplified by a widening middle class, rising GDP, large export growth, oil discoveries amongst several other factors – it is often forgotten that some parts of Brazil are still experiencing extreme poverty and income inequality. ...
India: Smile Raises Rs 50 cr From Equity Funds
May, 17 2010
Chennai, India - Chennai-based microfinance company, SMILE Microfinance Ltd (Smile) has raised around $10 million (around Rs 50 crore) from equity funds managed by Developing World Markets (DWM), a US-based social investment fund manager. Grameen Capital India was the sole advisor to this transaction for Smile ...
LeapFrog Fund Achieves Record Close of $137 Million
May, 16 2010
Washington D.C. - Today the world's first microinsurance fund, LeapFrog Investments, announced its final close on $137 million for investments in Africa and Asia - a record amount that makes LeapFrog the largest investor in microinsurance worldwide ...
$25bn African Microinsurance Market Mostly Untapped, Finds Report
May, 13 2010
London, England - Little over 2% of Africa's 700 million working poor are covered by insurance, representing a vast untapped opportunity for social and economic development, according to a new study by the Microinsurance Innovation Facility of the International Labour Office ...
Microfinance: The Untapped Chinese Market
May, 13 2010
China - Microfinance in China has the potential to be one of the leading, innovative approaches to alleviating poverty and boosting rural and regional economic development. This report will take a closer look at how the current Chinese microfinance model came about, the current outcomes of the model, and lastly the problems and solutions of the potential market, which has yet to be tapped by foreign investors ...
Jamaica: $750m More for Micro Lending
May, 12 2010
Kingston, Jamaica - The Government plans to provide $750 million in loans to entities in the micro sector for the fiscal year which began April 1 ...
Ecuador: Interest Rate Caps Forcing Microlenders to Increase Loan Amounts
May, 06 2010
Santiago, Chile - The tightening of interest rate caps by Ecuador's central bank (BCE) is pushing microlenders to increase the average amount of their loans, and may give some no choice but to sell their portfolios to larger institutions, Red Financiera Rural (RFR) executive director Javier Vaca told BNamericas. ...
Cameroon: ACCION Launches Microfinance Operations
May, 06 2010
Douala, Cameroon - EB-ACCION Microfinance, a new microfinance institution formed through a partnership between ACCION® International, a pioneer and leader in microfinance, and Ecobank, a leading independent pan-African banking group in Africa, has opened the doors of its first two branches in Douala, at the Mboppi and Congo markets ...
Reducing Poverty Through Greater Involvement in Africa
May, 05 2010
Berlin - Frankfurt, Germany - BMZ and KfW development bank to set up first regional investment fund for micro and small enterprises in Sub-Saharan Africa. Funding commitments of over USD 150 million to strengthen private sector through local currency loans and improve personal incomes across Sub-Saharan Africa ...
Kenya: Institutions Get Okay to Launch Agency Business
May, 03 2010
Nairobi, Kenya - Banks, deposit-taking micro-finance institutions, and mortgage finance companies can from Monday roll out their agency banking services after the Central Bank of Kenya unveiled the rules under which the new banking model will be operated ...
India: IFC To Invest $15M In MFI Fund Lok II
May, 03 2010
Noida, India - International Finance Corporation, the private investment arm of the World Bank, is planning to invest $15 million in Lok II, a $80-million venture capital fund launched for investing primarily in the microfinance space in India, VCCircle has learnt. ...