Romania: M-Pesa Comes to Europe
March, 31 2014
Romania - Vodafone M-Pesa - the mobile money transfer and payment service that has transformed the lives of millions of people in emerging markets - has come to Europe for the first time. ...
Thomson Reuters Release Islamic Social Finance Report
March, 25 2014
South and Southeast Asia - The report is the first of its kind study covering Islamic social finance across countries in South and Southeast Asia with sizeable Muslim populations including Indonesia, India, Pakistan, Bangladesh, Malaysia, Singapore and Brunei Darussalam ...
OPIC Board of Directors Approves Risk-Sharing Frameworks with Citi
March, 24 2014
USA - In a quarterly meeting March 20, the Overseas Private Investment Corporation's (OPIC) Board of Directors approved two framework agreements that will align OPIC with Citi, the leading global bank, in sharing credit risk for development financing in overseas projects. The global risk-sharing frameworks cover both commercial lending and a new inclusive finance facility. ...
Aavishkar Eyes to Close $75-mn Frontier Fund by Q3 of 2014
March, 22 2014
India - Aavishkar, a micro-finance fund, expects to raise $75 million for its Frontier Fund by the third quarter of 2014. The fund, to deployed south and south-east Asia, will be among a few India-focussed private equity funds going global.
Philippines: IFC Investing P650 M in PR Savings Bank
March, 21 2014
Manila, Phillippines - The International Finance Corp., the private-sector funding arm of the World Bank, is investing P650 million to recapitalize Philippine Resources Savings Banking Corp. (PR Savings Bank), the country’s fifth-largest independent thrift bank ...
India: Banks Develop a Liking for Microlending
March, 18 2014
India - India’s microlending industry, dominated by traditional microfinance institutions (MFIs), is witnessing a re-emergence of interest from commercial banks, which are targeting low-income borrowers. ...
Western Union Expands Mobile Money Service in Nigeria
March, 17 2014
Nigeria - The Western Union Company (WU), a leader in global payment services, today announced the launch of a new mobile money transfer service to Nigeria, which increases the reach of Western Union payout options in the country ...
First Access and Vodacom Tanzania Ink Financial Inclusion Deal
March, 12 2014
Tanzania - Vodacom Tanzania has placed itself at the forefront of financial inclusion innovators by signing a groundbreaking commercial partnership with First Access, a for-profit social business headquartered in New York City with an office in Dar es Salaam, Tanzania ...
Tanzania: ‘Regulate microfinance subsector’
March, 11 2014
Tanzania - Stakeholders are calling for the establishment of a new law to govern the rapidly growing microfinance subsector in the country which in principle is the main provider of financial services to rural areas and even some parts of various urban centers and therefore, a proper regulatory regime is necessary ...
Jamaica: The Changing Face of Micro Business
March, 09 2014
Jamaica - The micro-enterprise sector has been receiving considerable attention as the Government recognises that it can be a key contributor to economic growth through increased employment and the development of export products and services ...
Mobiles Aid Africa’s Women Farmers
March, 07 2014
Africa - “Mobile phones have been invaluable to women as communication and transaction devices, but their unsung glory is that they offer a traceable record of those activities.” ...
Nonprofits Should Lead the Sharing Economy
March, 03 2014
Global - The sharing economy is creating new business models, forcing traditional for-profit businesses to adapt or fall behind. The same will hold true for the social sector ...
South African Fund Calls for Ecobank Chief to Resign
March, 02 2014
South Africa - The biggest shareholder in Ecobank Transnational, the pan-African lender embroiled in a prolonged leadership crisis, has accused its chief executive of using the bank for “personal gain” and demanded his immediate resignation.