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India’s High Tech Strategy for Inclusive Growth
September, 28 2015
India - Prime Minister Modi’s visit to Silicon Valley is the quintessence of how technology can be at the centre – not at the sidelines – of progress, and of how India is poised to position itself at the very forefront
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Kenya: Faulu Lands Sh1 Billion to Fund Small Firms
September, 26 2015
Kenya - EIB's new lending deal is the first partnership with Faulu Microfinance Bank under a new EUR 50 million (Sh5.85 billion) initiative to support microfinance institutions across East Africa.
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India: Lok Targets Those Who Couldn't Bag Small Finance Bank Licence
September, 24 2015
India - Rockefeller Foundation-backed Lok Capital is not resting on its laurels after four of its portfolio companies got a 'in-principle approval' for a small finance bank (SFB) licence. It is now targeting those which could not get the approval from the Reserve Bank of India (RBI) for an SFB, through its third fund of $100 million that it is currently raising.
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Minding the Gap: Evaluating SME Financing in Latin America
September, 23 2015
Latin America - Small and medium-sized enterprises play a vital role in driving economic growth in many countries, and the Latin America and Caribbean region is no exception. More than 90 percent of businesses in the region are classified as SMEs but a financing gap of nearly $250 billion exists to fund their activities
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India Mobile Wallet Market to Reach US$ 6.6 Billion by 2020, Says TechSci Research
September, 22 2015
India - According to TechSci Research report, "India Mobile Wallet Market Opportunities & Forecast, 2020", mobile wallet market in India is projected to reach US$ 6.6 billion by 2020. The mobile wallet market in India is projected to exhibit exponential growth during the forecast period, on account of rising smartphone penetration rate, growing mobile internet user base, and increasing government support
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Nigeria: Microfinance Bank - Untapped Window of Foreign Direct Investment
September, 22 2015
Nigeria - “We initiated the policy in microfinance banking some years back but the operators refused to take advantage of the international convergence of financers to attract foreign funds through direct equity participation, loans and grants for microfinance banks and institutions,” Enyinnah said
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India: Energy Sector Is the Highest Spender on CSR
September, 22 2015
India - Energy companies spent the highest on corporate social responsibility (CSR) initiatives in the year ended 31 March, the first year after rules were implemented requiring companies to spend 2% of their net profit on social development
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India: Can RRBs Stand Up to Their New Rivals?
September, 21 2015
India - The Reserve Bank of India (RBI) is examining the efficacy of Regional Rural Banks (RRBs), which will be up against tough competition from 23 new banks — two new private sector banks, 11 payments banks and 10 small finance banks — in a year or two.
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India: Small Finance Banks - MFIs to Scout for Domestic Equity
September, 17 2015
India - The microfinance institutions (MFIs) which have secured in-principle licences to start a small finance banks (SFB) are now faced with the task of raising a substantial amount of domestic capital over the next 18 months to meet the regulatory requirement.
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‘Investing in Energy Efficiency Makes Economic Sense’
September, 16 2015
Global - 70 financial institutions – ranging from regional and microfinance institutions to national and global banks – from over 20 countries have vowed to step up financing for energy efficiency investments and develop business strategies that save energy and reduce carbon emissions
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More Rwandans Go Digital as Rate of Poverty Drops
September, 15 2015
Rwanda - The number of Rwandans owning a mobile phone has increased from 6.2 per cent of the country's total population in 2000 to 63.6 per cent in 2014 as poverty dropped to 39 per cent, the fourth Integrated Household Living Survey, launched yesterday in Kigali, says
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Faith Kiarie: South Africa - Tightening the Screws on Microfinance
September, 15 2015
South Africa - The recent fall of unsecured lending giant, African Bank, reminds us all of the importance of curbing reckless lending and the level of indebtedness of South African consumers is worrying. But correcting these wrongs needs to be done without removing all responsibility from borrowers, without punishing lenders who’ve been observing the law, and without putting unnecessary strain on economic growth
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Sustainable Development: Sanitation Needs More Private Investment
September, 15 2015
Global - “One of the main challenges is the fact that in much of the developing world, responsibility for managing water and sanitation rests with government,” says Will Davies, Africa lead for the IFC’s 2030 Water Resources Group. “Utilities are often not run on financially sustainable lines and so find it difficult to access private financing.
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Ghana: MFIs Must Consolidate to Attract Investors
September, 12 2015
Ghana - Speaking at the International Investors’ Forum on Microfinance in Accra, organised by the Ghana Microfinance Institutions Network (GHAMFIN) and The Microfinance Association, Mr. Adetosoye explained that due to the size of the MFIs in Ghana, investors are looking at economies like Nigeria and Kenya that have sizable MFIs which serve the underserved
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Myanmar Needs Cautious Approach
September, 11 2015
Myanmar - The prospect of doing business in Myanmar just got juicier. With its very first credit-risk rating coming up, Myanmar is likely to see a new injection of investments
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Funding Sources for Islamic Microfinance Institutions
September, 10 2015
Global - Although the Islamic microfinance with its innovative product line and systems receives a huge demand and acceptance across the world, the lack of funding can weaken its potential of growth in the future
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Cambodia: Solar Financing on the Way
September, 10 2015
Cambodia - LOLC Micro Credit, Vision Fund and Credit Mutuel Kampuchea are interested in tapping into rising demand for solar energy for off-grid homes. Under the program, customers can obtain loans with 2 percent monthly interest to buy certified systems.
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Asia: ADB Report - SMEs Need Finance to Grow
September, 03 2015
Asia - In its Asia SME Finance Monitor 2014 released on September 2, the ADB emphasised that SMEs’ growth is key to strong, sustainable growth in Asia as the world recovers from the recent global economic slowdown.
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India: Banks Turn Away from AP MFIs
September, 03 2015
India - After turning the corner, microfinance institutions (MFIs) are galloping in the rest of India, yet in the undivided Andhra Pradesh - once one of their biggest markets - the institutions never really picked up since the 2010 debacle.
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The Case for Islamic Microfinance in Africa
September, 02 2015
Africa - Yet while interest-free finance has been documented in many regions of the world, little is written about its development in Africa. Therefore, assessing the state of interest-free microfinance in Africa is difficult, because of data limitation
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How to Sell Insurance to Low-income Earners in Africa
September, 02 2015
Africa - In Africa, insurance has traditionally been a preserve of the rich. Most poor people have no safety nets and therefore risk losing everything in the event of serious illnesses, accidents, sudden deaths in the family or damage to their property
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India: 'Conventional Banking Is for Rich, Poor Need New System'
September, 02 2015
India - “If you have to travel on water, you need a boat. What is being done now is akin to trying to use a car to sail in the ocean.” This was how Nobel Peace prize laureate and micro finance pioneer Muhammad Yunus described efforts for financial inclusion.
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IFC-backed Report Supports Entrepreneurship in Mena
September, 01 2015
Middle East and North Africa - A new IFC-supported report by Wamda Research Lab finds that although support for entrepreneurs and start-ups has grown substantially across the Middle East and North Africa, many challenges remain, hindering job creation and economic growth
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