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Two Nigerian Micro Finance Banks Certified Globally
September, 29 2017
Nigeria - Operations of microfinance banks in Nigeria received a boost as two microfinance institutions, Grooming Centre and Fortis Microfinance bank were given the Smart Certification for client protection
...
Australia’s Bet on Women entrepreneurs in Southeast Asia
September, 29 2017
Southeast Asia - Directing investments to women entrepreneurs may seem like a no-brainer, at least for half of our species. But growing those investments presents challenges, particularly in conservative, even patriarchal, countries in Southeast Asia, where many women are left out of business opportunities
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USA: Renowned Economists Launch Global Poverty Research Lab
September, 28 2017
USA - Northwestern committed to making the University a global center for international development. Northwestern University’s Buffett Institute has launched the Global Poverty Research Lab, a collaborative research center that uses empirical evidence to address the challenges of overcoming poverty and to improve well-being in the developing world
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Nigeria: Expert Wants Micro-Finance Banks Regulated
September, 28 2017
Nigeria - Dr Ja’afar Sa’ad, a political economist, on Thursday advocated for the re-establishment of an autonomous body to license, supervise and regulate community/micro finance banks in Nigeria for maximum output
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Financial Inclusion from a Consumer Perspective
September, 27 2017
Global - Around the world today, financial service providers, technology entrepreneurs and policy makers are engaged in building a financial system that reaches out to previously excluded people, such as lower income people, very small businesses, rural dwellers, and women. Although this work is carried out in the name of the consumer, all too often, scant attention is paid to the real needs and desires consumers and very small enterprise owners have
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The Real Impact of Impact Investing
September, 27 2017
Global - One recent Bank of America press release states that three-quarters of investors want to work with an advisor who offers investment strategies that result in competitive returns and positive impact. An even higher percentage of millennials want to make a connection between financial and societal outcomes — as high as 86 percent, according to a recent Morgan Stanley analysis.
But can investors really have a positive impact with their investment dollars while also maximizing financial returns? This is no small matter. It is more than a trillion-dollar opportunity — consider that Bank of America alone has a client base representing over $2 trillion in assets
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EBRD Launches Women in Business Programme in Tajikistan
September, 27 2017
Tajikistan - Under the programme, the EBRD will seek to provide up to $8m to partner financial institutions for on-lending to women-led businesses as well as business advice. Risk-sharing and technical assistance offered by the EBRD will seek to make loans more accessible for female entrepreneurs. In addition the Bank will provide women entrepreneurs with access to mentoring, entrepreneurship training courses, and know-how from local consultants and international experts to grow their businesses
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USAID Microfinance Training Program Assists Young Afghan Women Enter Financial Sector
September, 26 2017
Afghanistan - Seventy-five young Afghan women graduated today from USAID Promote: Women in the Economy (WIE)’s Microfinance Institute Training (MFI) Program. Implemented by the Afghanistan Microfinance Association (AMA), the nine-month apprenticeship program equips young women with the technical and managerial skills needed to secure jobs in banking and microfinance by increasing enrollment of women in training programs the MFIs already give to their new employees
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India: Green Bond Sales Double to Record $3 Billion This Year
September, 26 2017
India - India's focus on renewables has pushed green bond sales to a record high of $3 billion this year, doubling from the year ago, as investors with dedicated funds prefer India over China, where funds aimed at green power have less strict norms of use
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Merchant Acquiring: Why Winning Is the Wrong Approach
September, 25 2017
Global - If digital financial services (DFS) providers are to make serious inroads on merchant payments, it is becoming increasingly clear that acquiring models need to change. Thus far, the big providers (read mobile network operators) have been all doing what they are used to doing: setting up proprietary networks of merchants to grab real estate in the market and become the dominant brand in the space. Unfortunately, there are several reasons why that’s a poor strategy to succeed in merchant payments — for the industry as a whole as well as for individual providers
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India: Demonetisation Halves Microfinance Industry's Growth
September, 25 2017
India - Indian microfinance sector, which has been clocking an average growth rate of 36 per cent in recent years, has registered a sharp dip in its growth to 18 per cent during 2016-17. The slowdown in the microfinance industry is an indication of the impact of the demonetisation of high value currency by Prime Minister Narendra Modi on the unorganised sector
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Pakistan: Ending Poverty Requires More Than Just Commitment
September, 25 2017
Pakistan - The government’s commitment to achieving the SDGs has yet to be translated into an action plan. The first two goals — ending poverty and achieving zero hunger — still await approval of a national food security policy.
The business-as-usual approach is not going to make any significant impact on poverty reduction.
A more innovative and comprehensive approach is needed, with increased focus on reducing the economic, social and environmental risks confronting the poor, according to the United Nations
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Education Cannot Wait - Investing in Our Shared Humanity
September, 24 2017
Global - World leaders gathered at the United Nations in New York this past week. At the 72nd General Assembly, renewed calls were made for our universal values that laid the foundation for the United Nations. The 2030 Agenda for Sustainable Development was at the forefront, such as ending poverty and hunger, achieving gender-equality, and ensuring justice and peace. But how do we get there?
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'No Two Emerging Markets Are the Same'
September, 22 2017
Global - As recent announcements have shown, investment funds are increasingly turning their eyes towards emerging markets throughout Southeast Asia and Latin America, attracted by the potential for higher returns. In Thailand, Vietnam, the Philippines and Argentina, to name just a few key markets, a combination of economics, politics and renewable energy resources has given rise to significant investment opportunities.
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Survey Report on Mobile Money Agent Networks in Pakistan Released
September, 21 2017
Pakistan - The survey report is based on over 2,000 mobile money agent interviews that were conducted across Pakistan and highlights findings on the mobile money agent landscape in Pakistan, covering the agent network structure, agent viability, quality of provider support, compliance and risk as well as other important strategic considerations. The survey is designed to provide valuable insights for the digital financial sector in Pakistan and provide recommendations for developing sustainable networks of mobile money agents. Survey Report on Mobile Money Agent Networks in Pakistan Released
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Building Customer Loyalty at the Bottom of the Pyramid
September, 20 2017
Global - The premise of all loyalty programs is that they promote continued patronage. In a world where there is often little variation between competitors’ offerings, a well-designed loyalty program could make all the difference for your business. After all, a good loyalty program could very well decide which airline you choose for your next business trip
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C-Quadrat’s Dual Return Vision Microfinance Funds Loan $12.5 to MFIs in Latin America, Southeast Asia
September, 20 2017
Global - An arm of Austrian fund manager C-Quadrat, C-Quadrat Asset Management, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds lent a total approximately equivalent to USD 12.5 million to unidentified microfinance institutions (MFIs) in four Latin American countries – Bolivia, El Salvador, Guatemala and Peru – as well as two in Asia – Indonesia and Myanmar
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Overseas Private Investment Corporation (OPIC) Commits $20 Million Loan for WaterEquity’s Social Impact Investment Fund
September, 19 2017
Global - WaterEquity, an innovation of Water.org, today announced it has received a commitment for a $20 million loan from the Overseas Private Investment Corporation. OPIC, a self-sustaining U.S. government agency that helps American businesses invest in emerging markets, is supporting WaterEquity’s WaterCredit Investment Fund 3 (WCIF3), a $50 million social impact investment Fund that will invest in enterprises serving water and sanitation needs among the world’s poor
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India: Common Code for Micro-Finance
September, 19 2017
India - A uniform set of credit and business conduct rules, including caps on loans, will bind all entities engaged in micro-credit lending in the country.
The Microfinance Institutions Network (MFIN), the self-regulatory organisation for the industry, has released its Mutually Agreed Code of Conduct (MACC)
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How Cryptocurrency Is Helping More Women Enter The Global Market
September, 18 2017
Global - What’s all the hype about cryptocurrency, Bitcoin, and blockchain technology? Cryptocurrencies like Bitcoin are digital money that’s decentralized (no banks needed!), and that offers the potential for secure – and transparent - online transactions
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Fintech: Where Necessity Is the Mother of Invention
September, 18 2017
Global - Cutting-edge technologies are being harnessed to bring affordable financial services to hundreds of millions of people in emerging markets. They offer a glimpse into how financial services in the rest of the world may develop.
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Barclays Launches Impact Fund of Funds
September, 18 2017
Global - Barclays has launched an impact investing fund in order to meet 'growing demand' from clients for social and environmentally-conscious investments.
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Capital Markets: How to Build a Social Bond Market
September, 18 2017
Global - As an ecosystem to support and build the social bond brand starts to emerge, could the market outstrip its green cousin? There is a good chance, given the breadth of problems and the financing needs behind them. But some big challenges lie ahead.
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Ghana: BoG Sets Compliance Deadline for Microfinance Institutions
September, 18 2017
Ghana - The rule requires MFIs to have a public governance policy
Microfinance institutions (MFIs) have up to the end of April, 2018 to comply with new guidelines set by the central bank to streamline their operations, a report by the Finance Committee of Parliament has revealed
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Sustaining Microfinancing in Nigeria
September, 18 2017
Nigeria - Microfinancing has contributed immensely to small and medium-scale businesses in both rural and urban areas in the country.
This is by empowering the economically active people and bringing about growth and development of individuals through soft and accessible loans. It is the hope of the common people for self-sustenance and development
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Microfinance Pioneer Grameen Bank to Set Up Japan Branch Next Year
September, 16 2017
Japan - Grameen Bank, the Bangladesh-based organization known for providing small loans in poverty-stricken rural areas, is planning to open a branch in Japan next summer, sources said Saturday. Grameen Japan will focus on helping people in need of financial aid such as those receiving welfare benefits and struggling single mothers as they look for work opportunities
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How to Accelerate Financial Inclusion in Pakistan: Lessons from the New Financial Inclusion Insights Data
September, 15 2017
Pakistan - The State Bank of Pakistan’s (SBP) National Financial Inclusion Strategy (NFIS), launched in May 2015, set an ambitious goal of expanding access to financial services from 10 percent of adults to at least 50 percent by the year 2020. Intermedia’s newly-released Financial Inclusion Insights (FII) data suggests that, as of 2016, Pakistan’s progress was not yet on a trajectory to get to 50 percent. It also suggests ways Pakistan could improve the rate of progress.
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The Future of China's Economy Is Digital
September, 11 2017
China - China’s economy hurtling towards digitization — and the lines between its real and virtual economies will increasingly blur in the years ahead, says a senior investment officer with the nation’s sovereign wealth fund and author of a new book examining the digital transformation of the world’s second-largest economy
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Zimbabwe: Microfinance Industry Confidence Levels Rise
September, 11 2017
Zimbabwe - ZIMBABWE’S microfinance industry appears to be gaining public confidence if latest statistics are
anything to go by.
Despite being blemished by a culture of usurious interest rates and repossession of borrowers’ assets
prior to formal regulation by the Reserve Bank of Zimbabwe (RBZ), the industry is growing to
become key in the country’s financial inclusion strategy
...
Egypt: Can the Banking Sector Achieve Financial Inclusion Alone?
September, 10 2017
Egypt - The question posed by Daily News Egypt is, can the banking sector alone achieve financial inclusion in Egypt? Or does achieving this aim require other things?
Is the infrastructure of the banks, including the branches and ATMs and technological tools enable banks to achieve this goal?
A number of bankers who answered these questions stressed that the banking infrastructure is ready, but achieving this goal requires government and legislative support
...
UN Calls for More Global Commitment to SDGs
September, 09 2017
Global - UN Deputy Secretary-General Amina Mohammed has called for escalated efforts by Nations for the implementation of the Sustainable Development Goals (SDGs) to ensure that the 2030 deadline is met
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Red Cross Links Investors to War Zones with First 'Humanitarian Bond'
September, 08 2017
Global - A new funding model launched by the Red Cross aims to attract private capital to conflict zones to help some of the world’s neediest people, while giving investors a return on their money.
The “Humanitarian Impact Bond” set up by the International Committee of the Red Cross’ (ICRC) with a value of 26 million Swiss francs ($27.5 million), has attracted capital from New Re, part of global reinsurer Munich Re Group, among other investors
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Are Impact Investors Missing a Trick by Overlooking Local Communities?
September, 08 2017
Global - It’s 10 years since the term ‘impact investing‘ was coined to reflect investments that bring about social and environmental benefits alongside financial returns. Since then, the impact investing sector has grown to US$77 billion.
For Durreen Shahnaz, an investment banker turned social entrepreneur from Bangladesh, impact investing seeks to “connect the Wall Streets of the world with the backstreets of underserved communities”.
...
Development Special: How Microfinance Is Helping to Change Lives in the Philippines
September, 08 2017
Philippines - The concept is simple enough – recipients are granted small loans – they typically start at about 5,000 Philippines pesos (about $AUS120) – to help them find alternative sources of income, whether it be starting a new microenterprise or expanding an existing one. There are also loans to help those living in poverty do things like upgrade their accommodation, meet immediate health or medical needs or put in better sanitation facilities, like a toilet
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T. Kreiner Executive Director of the Miller Center for Social Entrepreneurship, L. Gray Professor of Environmental Studies and Sciences, both at Santa Clara University: Solar Lighting in Remote Rural Areas: Oversold or Truly Illuminating?
September, 07 2017
Global - Solar Sister uses a network of women-centered direct sales entrepreneurs, known as Solar Sister Entrepreneurs or SSEs, to distribute solar lanterns in Tanzania, Uganda and Nigeria. While not an RCT, the Miller Center research involved detailed interviews with 257 Solar Sister customers and SSEs in more than 20 rural villages in Tanzania. The interviews examined the effects of small-scale solar lanterns on users’ health, education, time allocation, income generation, and economic empowerment and agency. The research also looked at differences between male and female respondents, and between SSEs and their customers
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China: PAG, Primavera Lead $117M Round in Online Unsecured Loan Lender Dashu Finance
September, 07 2017
China - Asian alternative investment management firm PAG and China-focused private equity firm Primavera Capital Group have led a RMB800 million (US$117 million) series C round in Dashu Finance, a Shenzhen-based online lender of unsecured loans to small and micro enterprises that traditionally could not secure funding from banks
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$1.5 Billion Microgrid Market Opportunity Emerges in Kenya
September, 05 2017
Kenya - A confluence of innovation, risk taking, and public and private effort has created a five-year, $1.5 billion microgrid market opportunity in Kenya, leading Germany’s TFE Consulting to dub the East African nation, “The World’s Microgrid Lab.
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India: The Alchemy of Financing
September, 05 2017
India - Microfinance’s reliance solely on the boots-on-the-ground approach to distribute and collect loans can’t afford personalization. When you run a company with a field force in the thousands serving millions of customers scattered across the country, it is difficult to resist the regimented one-size-fits-all collection model to make the economics work.
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The Tunisian EFC Is Stepping Up Its Contribution to Job Creation and Economic Growth
September, 05 2017
Tunisia - According to World Bank estimates, more than half the businesses in Tunisia have insufficient access to financial services. This is what motivated the creation of an Entrepreneur Financial Centre (EFC) in that country. Set up in 2015 by DID, the Tunisian EFC (Centre Financier aux Entreprises - Tunisie S.A.) intends to improve access to secure and affordable financial services for entrepreneurs operating micro and small enterprises, and by doing so, to support job creation and poverty reduction
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Blockchain Firm Everex Raises $26M in ICO
September, 04 2017
Global - Everex, a Singapore-based financial inclusion blockchain development company, has raised over $26 million in its initial coin offering (ICO) which ended on August 31, 2017
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‘Over 40m Nigerians Still Don’t Bank Their Money’
September, 01 2017
Nigeria - Despite the awareness being created by financial institutions on financial inclusion, it has been revealed that over 40 million Nigerians still do not keep their money in the bank
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Jamaica: New Microfinance Firm Enters the Market With Big Backing
September, 01 2017
Jamaica - Mundo aims to differentiate itself by not dealing with walk-in clients, according to CEO David Lee.
"The difference with our business model is that unlike other microfinance operations that have a branch in every major town, we take the completely different approach of not lending to strangers walking in," said Lee in an interview with the Financial Gleaner
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