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Microfinance: The Next Bubble?
June, 29 2009
United States - Our Rio de Janeiro correspondent, Mac Margolis, delves into a new microfinance study, and wonders whether the much-lauded sector is about as efficacious as a subprime CDO and as bubbly as a Pets.com equity option ...
Micro Insurance Industry Sees Profits from the Poor
June, 25 2009
Jakarta, indonesia - Slum-dweller Krustin bin Juri lost everything when floodwaters swept through his home and shop on the banks of Jakarta’s filthy Ciliwung river two years ago. But when the next flood hits, and it will because Jakarta sees frequent floods in the rainy season, bin Juri may have a modicum of protection thanks to a low-cost insurance policy that he purchased this month. ...
Mobile Banking: From Concept to Reality
June, 25 2009
Washington, United States - More than a billion people worldwide lack bank accounts, but do have mobile phones, providing a dramatic opportunity to achieve greater financial inclusion. That’s just one of many new insights CGAP has found with the GSMA Association through the Mobile Money Market Sizing Study. The study estimates the size of global mobile financial services market among an unbanked population of 3 billion. The results were released this week at GSMA’s annual Mobile Money Summit on mobile phone banking, co-organized by CGAP, DFID, and the IFC ...
Unitus Expands in Africa as Indian Partner Mulls IPO
June, 23 2009
Seattle, United States - Unitus, a Seattle non-profit supporting microfinance around the world, is entering a new phase as it expands into northern India and Africa, and its social enterprise investment arm builds a second equity fund of at least $70 million, almost triple the size of its first fund ...
Nigeria: Micro-finance Banks to Get $8.4m Grant
June, 19 2009
Kaduna, Nigeria - The Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission, Alhaji Mustapha Bello, yesterday, said that six micro-finance banks in the country will receive about $8.4 million grant this year ...
Better Asset and Liability Management: an Urgent Need
June, 18 2009
Washington, United States - The onset of the worst global financial crisis in decades has brought home to many financial institutions, and their clients, many of the fundamentals of finance that can be overlooked in times of rapid growth and surging income ...
McGraw Hill Releases Microfinance for Bankers and Investors
June, 17 2009
Washington, United States - McGraw-Hill Professional has released Microfinance for Bankers and Investors, a road map for those ready to embrace the challenge of reaching deep into emerging markets to provide financial services to the so-called bottom of the pyramid (BOP) - the four billion people in the world who live on less than $3,000 per year ...
Kinnevik Invests USD 10 million in the Micro Finance Fund Microvest
June, 16 2009
Stockholm, Sweden - Investment AB Kinnevik (publ) ("Kinnevik") today announced that it in the second quarter has committed to invest USD 10 million in a micro financing fund focusing on equity investments in micro financing companies in emerging markets. In addition, Kinnevik has acquired 30% of the shares in a Ukrainian farming company from the local investment company TAS. ...
Wang Shulian’s Microloan Funds China Growth Impetus
June, 16 2009
China - The global crisis sharpened China’s interest in microloans. In May 2008, the central bank and China Banking Regulatory Commission issued a directive expanding to all provinces the establishment of microcredit companies focused on rural lending and explaining the conditions for raising capital and making loans ...
Mobile Money to Poor Seen $5 billion Market in 2012
June, 15 2009
Helsinki, Finland - The market of mobile financial services to poor people in emerging markets will surge from nothing to $5 billion in 2012, U.S.-based microfinance policy and research center CGAP said on Monday ...
India: Belgian Stake in Assam Firm
June, 14 2009
Guwahati, India - Assam’s fledgling microfinance sector has receive a boost, with a foreign company picking up a stake in Asomi Finance Private Ltd — an institution which undertakes microfinance, income generation and development activities in the state ...
ACCION USA Joins Kiva in Launch of Person-to-Person Microfinance in the U.S.
June, 10 2009
New-York, United States - ACCION USA, a leader and innovator in U.S. microfinance, today announced that it has joined Kiva.org, the world's first person-to-person microlending Website, in its pilot expansion in the United States. The partnership offers increased hope to financially underserved entrepreneurs seeking small business loans in the United States during a nationwide credit crunch. ...
India: Spandana Raises Rupees 80 crore on NCDs
June, 09 2009
Hyderabad, india - Spandana Sphoorty Financial Ltd, a Hyderabad-based Micro Finance institution, has raised Rupees 80 crore (USD 16.74 ml) by issuing one year non-convertible debentures (NCD) redeemable at a premium of ten per cent ...
Philippines: Microfinance Firms Take to Ratings
June, 05 2009
Manilia Philippines - Local Microfinance institutions have started to submit themselves to assessment by international rating firms in a bid to improve operations and attract investments from abroad. ...
Microcredit Loans 'Used to Buy Food'
June, 04 2009
London, England - Fewer than half of microcredit borrowers invest the money in the grassroots businesses that such loans are intended to foster, new research into poverty alleviation has discovered ...
India: Microfinance Funds Await Better Cash Flow
June, 04 2009
Chennai, india - India-focused microfinance funds, which had seen investment cycles turn longer due to the global credit crisis last year, are hoping for robust fund flows this year, following improvement in global equity markets coupled with positive domestic sentiments after a strong election mandate ...
Report: Sustainable Banking
June, 04 2009
London, United Kingdom - A once-in-a-lifetime opportunity has come to sustainable banking. The credit crunch and collapse of the structured products market have turned much accepted financial wisdom on its head. The world has gained a new appreciation for long-term risk, and regulators around the globe seek to impose new standards on institutions they supervise ...
A first for Syria - Grameen-Jameel Joins Hands with Aga Khan Agency for Microfinance
June, 03 2009
Damascus, Syria - Grameen-Jameel, a social business that serves the Arab microfinance industry, has announced it has facilitated a multi-million dollar credit facility for the First Microfinance Institution (FMFI) Syria, part of the Aga Khan Agency for Microfinance (AKAM), to help improve the lives of 2,700 underprivileged Syrians through credit, deposits and other financial services ...
EU Unveils Micro-Credit Plan for Small Businesses
June, 03 2009
Brussels, Belgium - The European Commission unveiled plans Wednesday to free up 100 million euros (142 million dollars) from the EU budget to provide credit to people wanting to set up small businesses ...
The Crisis and Microfinance in Latin America
June, 01 2009
London, United Kingdom - What will happen to the Latin American microfinance industry in the wake of the crisis in the United States? Uncertainty reigned and responses were feeble while the storm continued to grow ...
FOROMIC 2009: Inter-American Forum on Microenterprise
June, 01 2009
Arequipa, Peru - September 30 - October 02, 2009 Arequipa, Peru. The XII FOROMIC 2009 will provide a platform for all stakeholders in the microfinance and microenterprise development industry to meet their colleagues and exchange best practices, methodologies, and strategies to promote and support the microenterprise sector. ...