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Tilman Ehrbeck, CEO, CGAP: Microcredit Impact Revisited
April, 29 2014
Global - While the "does microfinance work" debate might continue between proponents and skeptics, the emerging bigger picture around impact is quite clear. We are seeing more and more examples of how appropriate financial services can help improve individual and household welfare and spur small enterprise activity. ...
Paraguay: Putting Poverty Alleviation in the Hands of the Impoverished
April, 29 2014
Paraguay - Located in the middle of South America, landlocked Paraguay has been experiencing dramatic economic growth as well as significant reduction in poverty levels. The government recently reported that in the past three years, the percentage of people living below the poverty line has been reduced from 32 to 24 percent ...
India: Lok Capital Makes Partial Exit from RuralShores Business
April, 29 2014
India - Lok Capital, an India-focused venture capital fund concentrating on microfinance, education and healthcare, on Tuesday said it has exited from the investment made in Bangalore-based RuralShores Business Services Pvt. Ltd from Lok Capital Fund I in 2009 ...
SMEs in Developing World Need N320trn - IFC
April, 28 2014
Global - The International Finance Corporation (IFC), the private sector arm of the World Bank Group has estimated the financial needs of small and medium scale enterprises in Africa and other developing countries at more than $2 trillion (about N320 trillion) ...
Jamaica: Micro-financiers Welcome Collateral Registry
April, 27 2014
Jamaica - The Jamaica Micro Financing Association (JaMFA) has expressed support for the Companies Office of Jamaica’s (COJ) efforts to get the full participation of microfinance institutions (MFIs) in the functioning of the new National Collateral Registry ...
Tanzania Set to Relax Its Rules On Capital Controls
April, 22 2014
Tanzania - The Dar es Salaam Stock Exchange (DSE) is set for thriving business and huge expansion as the government plans to increase participation of foreign investors in the listed equities and allow them to buy government bonds ...
An Interview with Brazil's Financial Pioneer
April, 17 2014
Brazil - Joaquim de Melo's strategy is simple: use social currencies (the sharing of information and human support) along with community networks to foster financial inclusion in remote communities. ...
Tanzania: Postal Bank Focuses on Financial Inclusion
April, 16 2014
Tanzania - Briefing a news conference in Dar es Salaam, the TPB Chief Executive Officer, Mr Sabasaba Moshingi, said despite the competitive banking environment, TPB has continued to register outstanding performance having an end goal of achieving financial inclusion ...
Kenya Shakes Up Mobile Money by Licensing Three MVNOs
April, 15 2014
Kenya - The Communications Commission of Kenya has licensed three new MVNOs – Mobile Pay, Finserve Africa and Zioncell Kenya – with the potential to disrupt the country’s mobile money market, currently dominated by Safaricom’s M-Pesa ...
Social Impact Funds Make an Impression
April, 13 2014
Global - While a number of impact investment management companies have been in existence for a while, such as the UK’s Bridges Ventures, French insurer and investment manager Axa Group believes it is breaking new ground with its €150m social impact fund ...
India: Bandhan Signals Competition for Rural Microfinance
April, 12 2014
India - One big implication of the grant of a banking licence to Bandhan Financial Services on the basis of its 13-year record in micro-lending to the poor and disadvantaged is the likely impact on the nascent market for deposits in rural areas.
Increasing Financial Inclusion to the Unbanked in Africa
April, 11 2014
Africa - In terms of financial growth, Africa is a region ripe with potential – and concrete demand. Building the strong infrastructure needed for full financial inclusion – from innovative technologies to an informed clientele – will require patience, expertise, and support from investors, practitioners, and clients alike ...
Digital Finance: Empowering the Poor via New Technologies
April, 10 2014
Global - Delivering financial services through technological innovations, including via mobile money, can be a catalyst for the provision and use of a diverse set of other financial services – including credit, insurance, savings, and financial education ...
Can Social Enterprises Really Solve Poverty?
April, 08 2014
Global - In the fight against poverty, one of the most exciting developments in recent years has come in the form of a new kind of business. It goes by many names: social enterprises, inclusive businesses, market-based solutions to poverty, among others. ...
China Commercial Credit Launches Pride Lending Club Online Loan Portal
April, 08 2014
China - China Commercial Credit, Inc. CCCR +4.05% , a microfinance company whose current major business is providing microcredit loans and loan guarantees to small-to-medium enterprises (SMEs), farmers and individuals in Jiangsu Province, today said it has launched Pride Lending Club, an online loan portal subsidiary pairing prospective borrowers with willing lenders and qualified loan guarantors throughout China. ...
Microlender Trumps Billionaires to Win India Bank Permit
April, 03 2014
India - A banking permit “validates the microfinance business model” in India, C.S. Ghosh, Bandhan’s chairman and managing director, told Bloomberg TV India yesterday. The microlender will continue to focus on rural areas, he said. ...
Sri Lanka: NDB Raises US $ 125 Mn with IFC
April, 01 2014
Sri Lanka - National Development Bank has been provided with a US$125 million financing package by IFC, a member of the World Bank Group to expand access to finance for over 50,000 micro, small and medium enterprises over the next four years, an official statement by IFC said ...