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Sep 2010
Sub-Saharan Africa: Opportunity International Creates Community Banking in Rural Africa
September, 30 2010
Oak Brook, Illinois - Opportunity International Creates Community Banking in Rural Africa "Banking on Africa" Campaign Grows to Close the Gap for Five Million Rural Africans to Access Savings-Based Microfinance Services in the Communities Where They Live and Wor ...
Latin America: Global Partnerships Closes $20 Million Fund Aimed At “Microfinance Plus"
September, 30 2010
Washington, Seattle - Global Partnerships (GP), a 16-year-old nonprofit that supports microfinance and other sustainable solutions to poverty, announced today that it closed its fourth social investment fund at $20 million. Over the next five years, Social Investment Fund 2010 (SIF 2010) will provide much-needed loan capital to up to 20 select microfinance institutions (MFIs) in Latin America. ...
IPO Represents A Critical Transition for Microfinance, CGAP
September, 28 2010
Washington, USA - The initial public offering (IPO) of Indian microfinance lender SKS marks a critical transition for microfinance, say the authors of a new CGAP paper, "Indian Microfinance Goes Public: The SKS Initial Public Offering," because it proves that accessing capital markets is a viable proposition for microfinance institutions. ...
USA: ACCION Ranked World's Most Effective Microfinance Nonprofit by Philanthropedia
September, 27 2010
Boston, USA - ACCION International, a pioneer and leader in microfinance, is pleased to announced that it has been ranked the No. 1 microfinance nonprofit globally by Philanthropedia, an organization devoted to improving and measuring nonprofit effectiveness ...
New Innovative Fund: Dual Return Fund – Vision Microfinance Local Currency – Is Starting Today.
September, 27 2010
Vienna, Austria - Absolute Portfolio Management, Vienna brings its investment management, emerging markets and microfinance expertise in providing financing exclusively in local currencies to microfinance institutions through the pioneering “Dual Return Fund – Vision Microfinance Local Currency ...
Nigeria: CBN Revokes 224 Micro-Finance Bank’s Licences
September, 25 2010
Lagos, Nigeria - THE Central Bank of Nigeria (CBN) has revoked the licences of 224 micro-finance banks in Nigeria. This was disclosed Friday in Abuja at a press briefing by CBN’s deputy governor, Financial System Stability (FSS), Dr. Kingsley Chiedu Moghalu ...
Cambodia: Kingdom's Biggest MFI to Accept Deposits
September, 24 2010
Phnom Penh, Kingdom of Cambodia - The Kingdom’s largest micro-lender, Prasac, will launch deposit-taking services from early next year, representing another step toward its aim of becoming a commercial bank within five years ...
Central and Eastern Europe: dfe Partners and Creation Investments Establish CEE Microfinance Holdings, as a Regional Holding Company and Complete 3 Acquisitions
September, 23 2010
Chicago, USA - CEE Microfinance Holdings, N.V., a new, private equity backed, Dutch holding company owned by the Balkan Financial Sector Equity Fund, managed by the Swiss based dfe partners, and Creation Investments Social Ventures Fund I, managed by US based Creation Investments Capital Management, announced today it purchased three microfinance institutions located in Central and Eastern Europe ...
Mexico: 57% of the Municipalities Have No Bank
September, 22 2010
Mexico City, Mexico - Despite the penetration of popular credit and savings institutions, more than half of the country's municipalities do not financial branch of any kind, informed the president of the National Banking and Securities Commission (CNBV), Guillermo Babatz ...
Launch of Global Impact 50 Index Will Spur Increase in Investments with Social and Financial Return
September, 21 2010
New York, USA - The creation of the "Global Impact 50" – the first ever index of the top 50 impact investment fund managers that deliver social and environmental value in addition to financial returns (including leaders from microfinance, community development, fair trade, and other strategies) -- was announced today at The Clinton Global Initiative ...
Omidyar Network to Invest $55 Million in Internet and Mobile Technologies to Advance Government Transparency and Economic Empowerment
September, 21 2010
New York, USA - Omidyar Network today announced it will dedicate $55 million to fund technology investments that provide people around the world with information, tools, and services that improve their quality of life. The philanthropic investment firm pledged $30 million to progress government transparency and $25 million in support of mobile innovation benefitting people in emerging markets. The announcement was made at the Clinton Global Initiative (CGI) annual meeting in New York City ...
Microfinance Sector Continues to Grow Athwart Tragic Developments in Kyrgyzstan
September, 21 2010
Bishkek, Kyrgyzstan - Despite last developments in Kyrgyzstan, the microfinance sector continues to realize steady growth, according to the report issued by the Association of Microfinance Institutions (AMFI) of Kyrgyzstan on the impact of April-June events on the MFI. ...
Pakistan: Floods Cost MFIs Over Rs 10.7 Billion
September, 21 2010
Islamabad, Pakistan - Recent floods have caused an estimated direct and indirect loss of over Rs 2.7 billion and Rs 8 billion to Microfinance Institutions (MFIs), respectively. Talking at a roundtable conference, organised by the Pakistan Microfinance Network (PMN), in collaboration with the Consultative Group to Assist the Poor (CGAP) and the International Finance Corporation (IFC), the representatives of the PMN here on Monday stated that the losses include destruction of 86 microfinance bank branches in different parts of the country ...
Nigeria: How Creditors Cripple MFB Operations
September, 20 2010
Abuja, Nigeria - Just like the scenario that led to huge non- performing loans in deposit money banks which nearly resulted in the collapse of some of the banks; microfinance banks are currently under intense pressure as a result of high level of loan default. ...
India: Aavishkaar Plans $100m 3rd Microfinance Fund
September, 19 2010
Bangalore, India - Microfinance venture fund Aavishkaar Venture India is understood to be raising $100 million (Rs 458 crore) to set up a third microfinance-focused private equity fund through Aavishkaar Goodwell India, a joint venture with Dutch firm Goodwell Investments ...
Branch banking reaches the local grocery store: SBI
September, 16 2010
Gurgaon, India - The largest lender of the country, State Bank of India has come up with a new plan to bring banking services to every doorstep ...
Survey Shows Financial Access Growing Despite Effects of the Financial Crisis
September, 16 2010
Washington DC, USA - Despite an environment dominated by tight credit markets and slowing economies, more people in developing countries gained access to financial services in 2009. ...
India: Trident Microfinance to Raise Rs 75 cr Equity in Second Round
September, 16 2010
Mumbai, India - In an effort to grow business, Hyderabad-based microfinance institution (MFI) Trident Microfin plans to raise Rs 75 crore by equity from high net worth individuals (HNIs) and two existing investors ...
Microfinance Banks in Pakistan Fear Losses
September, 13 2010
Pakistan - Pakistan’s microfinance banks fear massive losses:18 per cent accounted for bad loans due to floods, which have rampaged livestock and infrastructure all over the country. This has set alarm bells ringing in the concerned quarters ...
SKS: A Hot Potato Called Microfinance Institutions
September, 13 2010
Mumbai, India - Vikram Akula was a star at the last Davos. Not all think that he will be as sought after when the world’s political and business elite meet next time. The past shadowed Akula before the listing of SKS, the micro finance organisation he founded. After the listing that made Akula richer by more than $100 million, micro finance as an activity is under attack ...
East Africa: EAC Seeks to Harmonise Regulation of MFIs
September, 09 2010
Kigali, Rwanda - The National Bank of Rwanda (BNR) is hosting a regional meeting to discuss ways on how to align rules and regulations that govern the microfinance industry within the East African Community (EAC) countries ...
Nigeria: CBN Approves Revised Banking Model, Banks Get Oct Deadline
September, 09 2010
Abuja, Nigeria - As part of the blue-print geared towards reforming the Nigerian financial system, the Central Bank of Nigeria (CBN), in compliance with the statutory provisions of the Banks and Other Financial Institutions Act (BOFIA) regarding the conduct of banking business has concluded the review of the universal banking model in Nigeria and issued new rules and guidelines for the envisaged new licensing regime ...
IFC, OFID Provide $40 Million for First “Green” Agribusiness Credit Line in Argentina
September, 09 2010
Argentina - IFC, a member of the World Bank Group, signed a first-of-its-kind agreement with Banco de Galicia y Buenos Aires S.A. to provide $40 million to boost agriculture lending to farmers and small and midsize businesses, while reducing the environmental impact of agribusiness practices in Argentina. ...
Making the Grade
September, 09 2010
New York, United States - Funding poor students could be the next big thing in microfinance. “LENDING to get a student through college is a far better way to fight poverty than making small-business loans,” says Ganhuyag Ch. Hutagt, until recently boss of XacBank, a Mongolian microfinance lender. ...
India: No More Cheap Funds to MFIs from Banks
September, 08 2010
Haryana, India - Microfinance institutions (MFIs) may lose access to cheap funds from banks in the upcoming two years if the RBI decides to execute the recommendations by one of its committees ...
Indonesia: Banks Facing Difficulties Disbursing Microcredit
September, 06 2010
Jakarta, Indonesia - Indonesia’s major banks are still facing several constraints in disbursing government-sponsored micro loans (KUR) to small businesses , despite high demand ...
Microfinance Firm to Open in Fiji
September, 06 2010
Fiji - One of the region's most successful microfinance organisations is set to open its doors in Fiji next week ...
India: BSE Adds SKS Microfinance in BSE-500 Index
September, 06 2010
Mumbai, India - The Bombay Stock Exchange Ltd (BSE) has decided to include SKS Microfinance Ltd in BSE-500 index with effect from September 13 ...
India: Aavishkaar Goodwell Completes Successful First Exit From Equitas.
September, 03 2010
Mumbai, India - Aavishkaar Goodwell, a private equity fund for the microfinance sector in India, has made a partial exit from its investment in Equitas Microfinance ...
World Bank Group / Tilman Ehrbeck Named as New CEO of CGAP
September, 01 2010
Washington - CGAP today announced that Tilman Ehrbeck will be its new CEO. Ehrbeck, a Partner at McKinsey & Company, will succeed Elizabeth Littlefield, who was recently appointed President and CEO of OPIC (Overseas Private Investment Corporation). The CGAP CEO is also a Director at the World Bank Group ...
IFC, Daiwa Announce Second Bond to Support Microfinance in Emerging Markets
September, 01 2010
Tokyo, Washington, D.C., - IFC, a member of the World Bank Group, and Daiwa Securities Group today announced plans to issue a bond this month that will expand access to finance for poor and low-income entrepreneurs in developing countries. ...
India: Bandhan Microfinance Looking to Raise Rs 100 Crore – IPO After 2 Years
September, 01 2010
India - Kolkotta based Bandhan Microfinance is said to be looking for a private equity investor who can infuse upto Rs.100 crore into the company, a top company official said to media last week ...

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