Tanzania: Bank to Fund SMEs
July, 31 2007
Nairobi, Kenya - A microfinance operator - Access Holding AG of Germany - with the help of the bank and other investors, set up Access Bank of Tanzania to provide financial services to low income earners ...
Nigeria: SMEDAN, Micro-finance banks strike partnership
July, 29 2007
Lagos, Nigeria - The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Micro-Finance Banks Association of Nigeria have agreed to work together to smoothen the rough edges in the area of financing micro enterprises in Nigeria. The Agency will soon be certifying prospective beneficiaries of micro-credits ...
IFC Study on the Microfinance Market in West Bank and Gaza
July, 26 2007
West Bank and Gaza - IFC, the private sector arm of the World Bank Group, today launched a microfinance market study of the West Bank and Gaza to highlight the market characteristics and critical issues that need to be addressed to promote a vibrant microfinance sector. These include outreach to clients, product development, and establishing regulations. The study will help address gaps and find ways to advance microlending. ...
Latin America: Microfinance: New turf for banks
July, 26 2007
Santiago, Chile - Microfinance in Latin America in this decade has become so solvent and shown such strong growth potential that it has shed its former image as a weak sister to banking, and blossomed as a mature colleague and even an enticing takeover target for conventional banks. ...
IFC, FMO, and Deutsche Bank Invest in Aavishkaar Goodwell to Support Growth of Microfinance in India
July, 25 2007
New Delhi, India - IFC, a member of the World Bank Group, the Netherlands Development Finance Company (FMO), and Deutsche Bank today announced their joint investment in the microfinance private equity company Aavishkaar Goodwell. This investment will support the launch of up to 60 greenfield microfinance organizations and the expansion of up to 10 fast-growing microfinance institutions across India. ...
Microfinance growing fast in South Asia: World Bank report
July, 23 2007
New Delhi, India - Micro-Finance movement has really taken off in South Asia. According to a recent World Bank report, microfinance today meets around 15 per cent of the overall credit requirements of low-income families. Bangladesh and Sri Lanka are leading the movement, while India falls under medium coverage category ...
Pakistan: The Dynamics of Microfinance Expansion
July, 14 2007
Islamabad, Pakistan - Pakistan with an estimated 20 million potential clients is among the largest microfinance markets in the world and a substantial portion of existing microfinance clients are located in Lahore District, reveals a latest research report. ...
Compartamos IPO: Microfinance Doing Good, or the Undoing of Microfinance?
July, 13 2007
Washington D.C., United States - On April 20, 2007, the Mexican microfinance institution (MFI) Banco Compartamos completed an initial public offering (IPO) selling 30 percent ownership of the bank. The existing investors received $450 million, valuing the entire institution at some $1.4 billion. An intense discussion, focused largely in the United States, has ensued. In this special edition of the Microcredit Summit e-News Bulletin, we have asked six leaders in the field to share their views on the IPO and its implications for the future of microfinance. Three of the commentators present positive viewpoints about the IPO and its implications and three are negative. We have also included a longer Draft Concept Note written by Richard Rosenberg of the Consultative Group to Assist the Poor (CGAP). ...
Microfinance in South Asia, Towards Financial Inclusion for the Poor
July, 11 2007
Washington D.C., United States. - During the past 25 years, the microfinance movement has challenged conventional financial sector and government thinking, in the process fundamentally altering the financial landscape. Today, it provides most of the access to financial services available to low-income people in South Asia, but it is still largely a separate part of the financial system ...
Korea: Hana to set up micro-credit fund
July, 10 2007
Seoul, Korea - Hana Bank said yesterday that it will create a 30 billion won ($32.6 million) micro-credit fund to support small businesses and individual entrepreneurs as part of efforts to contribute to society ...
July, 10 2007
United States - Interesting idea from Jeff Sachs on how to provide crop insurance to farmers in developing countries while avoiding some of the usual problems such as adverse selection and moral hazard: ...
India: JM Financial invests in Spandana
July, 10 2007
Mumbai, India - Private equity fund JM Financial India, co-promoted by JM Financial group and Citigroup’s Old Lane, has invested about Rs 40 crore in Hyderabad-based microfinance company Spandana, which will enable the non-banking finance company to expand its capital base and geographical reach. ...
In Poorer Nations, Cellphones Help Open Up Microfinancing
July, 09 2007
New York, United States - In many developing countries, where bank branches and A.T.M.’s are few or nonexistent in rural areas, cellphones may finally make financial services practical such places, fitting in the palm of one’s hand ...
Oikocredit Issues Shares in Local Currencies
July, 06 2007
Amersfoort, The Netherlands - Just around the time of Oikocredit's Annual General Meeting in South Africa, we passed the mark of financing 600 project partners worldwide with over EUR300 million. To be able to continue the upward trend in project financing, Oikocredit is constantly looking for new strategies to attract investors. ...
Microfinance Misses Its Mark
July, 04 2007
Stanford, United States - Despite the hoopla over microfinance, it doesn’t cure poverty. But stable jobs do. If societies are serious about helping the poorest of the poor, they should stop investing in microfinance and start supporting large, labor-intensive industries. At the same time, governments must hold up their end of the deal, for market-based solutions will never be enough ...
India: Microinsurance Conference 2007
July, 04 2007
Germany - From 13 to 15 November 2007, the Microinsurance Conference 2007 will take place in Mumbai, India. This event is the third international Microinsurance Conference and jointly hosted by the CGAP [Consultative Group to Assist the Poor] Working Group on Microinsurance and the Munich Re Foundation with the support of the IRDA ...
Hive of microfinance activity attracts serious attention
July, 02 2007
United Kingdom - Investment banks and institutional fund managers are being persuaded to take microfinance institutions seriously as they show better returns than some other emerging market investment vehicles and prove their stability in the face of external shocks ...