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Microfinance is Under Threat From Greed - and It's the Poor Who Are Suffering
June, 30 2012
Global - A controversial new book alleges that microfinance has been hijacked by profiteers, writes Louise Armitstead. Microfinance, the practice of lending as little as $20 (£13) to people with no source of financing, had already attracted a raft of celebrity and political faithfuls, but an episode of The Simpsons confirmed that the sector was the ultimate “way” of good capitalism
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Microinsurance: Providing a More Stable Future for Small-Scale Farmers?
June, 29 2012
Global - Almost 500 million poor people worldwide, mostly in China and India, are now insured against adverse events. Andy Kuper traces the origins of LeapFrog Investment, which invests in microinsurance companies in developing countries, to his experience as a PhD student under the renowned economist Amartya Sen in the late 1990s
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IFC Capitalization Fund puts in USD40 million in Mongolia’s XacBank
June, 29 2012
Mongolia - IFC Capitalization Fund will invest up to US$40 million in subordinated debt in Mongolia’s XacBank to strengthen the bank’s capital base and increase access to finance for the country’s small and medium enterprises and middle-income home buyers. This is IFC Capitalization Fund’s first investment in Mongolia
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BMZ and KfW bolster the Asian Microfinance Sector with USD 100 million
June, 28 2012
Asia - The Federal Ministry for Economic Cooperation and Development and the KfW Entwicklungsbank business area today launched the MIFA Debt Fund in Frankfurt am Main. It is the first fund which exclusively focuses on the refinancing of Asian microfinance institutions that operate sustainably
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Sagamore Investments to Invest US $22 Million In Accion Microfinance China
June, 26 2012
China - Accion, a pioneer and leader in global microfinance, announced today that Sagamore Investments has agreed to invest RMB 140 million (US $21.9 million) in Accion Microfinance China (AMC), a microfinance institution delivering financial services to microentrepreneurs in Chifeng Prefecture, Inner Mongolia
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Making the Market a Force for Good
June, 25 2012
Global - Many companies already understand the important role they play in supporting the wellbeing of communities, but what can be done to ensure social responsibility becomes a key part of corporate strategy
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Mali: Savings Groups Support Resiliency in the Sahel
June, 22 2012
Mali - Access to financial services for the rural poor provides an important tool that can help women and their families be resilient in the face of drought and conflict and respond to health shocks and other uncertainties
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India: SKS Top Executives Take Steep Salary Cuts
June, 20 2012
India - Seventeen top executives of SKS Microfinance Ltd, including managing director and chief executive officer M.R. Rao and chief financial officer S. Dilli Raj, have taken pay cuts as the firm struggles to pare losses
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Who Is In Charge of MFIs?
June, 20 2012
Global - “What was going on in those board rooms?” I doubt I am the only one asking myself that question as I watched microfinance developments over the past few years. It is difficult not to second-guess the decisions that MFI managers, boards and owners were making, especially since some of them seem to have missed the mark in striking the right balance between MFIs’ financial and mission bottom lines
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Nigeria: Fortis Microfinance Bank to list on NSE
June, 19 2012
Nigeria - The financial services sector of the Nigerian Stock Exchange (NSE) will tomorrow host a new entrant - Fortis Microfinance Bank plc – which is prosecuting a three year strategic growth plan, commencing with a capital raising exercise that will pool in about N7 billion fresh funds to the organisation
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India: Investors Want MFIs to Deliver on Social Goals
June, 18 2012
India - Commitment to the poor and client protection are no longer mere moral obligations for microfinance institutions (MFIs), but official objectives they must meet. Investors across the globe have conveyed the message to MFIs in strong words and some even want legal agreements to ensure these firms meet their social objectives and implement fair corporate governance practices in letter and spirit
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G20 Summit’s Commitment to Action Will Help Promote Financial Inclusion
June, 15 2012
Global - Amid the chronic chasm between the world’s wealthy and its excluded, almost half of the adult population worldwide – an estimated 2.5 billion people – lack access to basic financial services. The global economic crisis has intensified the plight of the financially excluded, preventing even more of the world’s poor from gaining a foothold on an important ladder out of poverty
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World Vision Microfinance Arm Refocuses on Africa and Asia
June, 14 2012
Africa & Asia - The microfinance arm of World Vision is to refocus its efforts away from Eastern Europe and the Middle East in favour of Asia and Africa, as it has identified that it can help up to 30 times more children in those areas for the same money
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Africa: Banking on Africa’s poor
June, 13 2012
Africa - Vast distances, high costs and unstable incomes.Those are just some of the challenges faced by millions of Africa’s poorest trying to access financial services in rural communities in Sub-Saharan Africa
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Sri Lanka: Micro Credit vs. Micro Grants
June, 12 2012
Sri Lanka - Development workers have debated for ever and a day on whether the best method of alleviating the poverty of the absolutely poor and landless is micro credit or a once and for all micro grant
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Kyrgyzstan: Could Microfinance Bubble Burst?
June, 11 2012
Kyrgyzstan - Kyrgyzstan’s poor and largely rural population, along with its lax regulatory environment, enabled a boom in small loans in recent years. A microfinance institution (MFI) can be founded with only 100,000 Kyrgyz soms ($2,175) in capital, and staff need no expertise in microfinance, let alone banking.With so little data and a dearth of transparency, a crisis somewhat analogous to the US subprime mortgage meltdown of 2008 -- where the riskiest loans at the fringes of the market ended up sinking the entire economy -- is not difficult to picture
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Frontier Investment Unveils Rs. 400cr Fund
June, 10 2012
USA - Frontier Investments Group, which is an investment arm of global microfinance and investment firm Accion International, is all set to launch its first fund of about Rs. 400cr ($74 million) mainly focused on emerging economies but targeting India as its priority market
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SEEP Brings out Report on Perspectives of MFA Leaders
June, 06 2012
Global - The Small Enterprise Education and Promotion Network (SEEP) has come out with the ‘Market Outlook 2012: Perspectives on Microfinance Association Leaders’ as a platform for microfinance association leaders to share their perceptions of the most important priorities, threats, and risks for the microfinance sector in various countries worldwide
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The Microinsurance Revolution
June, 06 2012
Global - For the poor, insurance is a safety net, and a springboard for the future.
Six years ago David Patient felt his immune system slipping. He had been H.I.V.-positive for a long time, but now he made two decisions: He started on antiretroviral medicines to protect himself, and he began trying to buy life insurance to provide for his partner.
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Sowing Sustainable Finance: Making Rural Inclusion a Priority
June, 05 2012
Global - We have made a lot of progress toward financial inclusion, especially when it comes to cities. Walk into most major cities in low-income countries, and you will probably find outlets of banks and microfinance institutions that lend to virtually all who qualify as economically active with a viable business model and of credible character.But that is only 28 percent of the story
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Russia: SME funding - Building a New Russia
June, 01 2012
Russia - Many of Russia's fastest growing companies, from supermarkets to rail freight operators, have been set up in the past decade. But despite this, finding the capital to grow remains a challenge
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