ACCION International President and CEO, Maria Otero, was awarded the Ellis Island Medal of Honor by the The National Ethnic Coalition of Organizations (NECO) in recognition of her contribution to sustainable development in the global microfinance sector. Continue Reading »

In a push to generate interest in the idea of African enterprises as investment opportunities, the sponsors of an East African entrepreneurial award competition have just released a documentary online about the selection process for the inaugural Legatum Pioneers of Prosperity Africa prize – which resulted in awards totaling USD 350,000 to six up-and-coming, home-grown companies.  The prize was funded by Legatum, an international private investment group, and the John Templeton Foundation, a philanthropic organization, and also involved partners OTF Group, a competitiveness consulting firm; the S.E.VEN Fund, a non-profit that promotes enterprise-driven solutions to poverty; and the Inter-American Development Bank, a multi-lateral financial institution.

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In an interview with the Financial Times, Muhammad Yunus, the founder of pioneering microfinance institution (MFI) Grameen Bank of Bangladesh, says that the bank is seeing a sharp increase in problems associated with the repayment of debts by poor borrowers as a result of rising food prices.

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MoneyBox Africa, an initiative of three Nigerian companies led by investment institution Integrated Capital Services, has announced a partnership with German mobile payment company Paybox in hopes of developing a pan-African mobile banking system.

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At a seminar for Finance Correspondents and Business Editors, the Central Bank of Nigeria (CBN) said it was worried about microfinance banks (MFBs) drifting from their core functions. The CBN also expressed concern about the distribution of MFBs in the country and the lack of functional support institutions. Continue Reading »

Source: Gray Ghost Microfinance Fund. Continue Reading »

Dr. John Hatch is currently the Board Secretary and Historian at FINCA (Foundation for International Community Assistance).

MicroCapital: Was there something in your upbringing that sparked your passion for social finance that you might share with our readers?

JH: My mother was born in Costa Rica, and I learned Spanish as a kid and then went into the Peace Corps and became fluent. This draw to Latin America is where I began. So, it was family background and a Spanish-speaking mother and an early experience with the Peace Corps of seeing the poorest of the poor….

I’d been to Latin America a couple times in the summer working for uncles in Costa Rica…. My Costa Rican uncle was a representative for American products, so I’d go door-to-door selling those things. Getting people to buy a typewriter…that’s how I picked up my Spanish, and I was kind of a novelty in those days. My first sale was a Royal typewriter to the madam of a house of prostitution! Continue Reading »

PlaNet Finance United Arab Emirates (PlaNet Finance UAE), a branch of the global non-governmental organization (NGO) which provides technical assistance and consulting to microfinance institutions (MFIs) in close to 60 countries, held a golf tournament entitled “Tee Off Against Poverty” on April 23rd at the Wadi by Faldo course of the Emirates Golf Club (EGC) in Dubai in an effort to increase awareness about microfinance amongst international financial firms and other global corporations, according to a press release on ArabianBusiness.com. Continue Reading »

According to ABC.AZ, a business information portal, the Azerbaijan Micro-finance Association (AMFA), a supportive organization for a network of 22 microfinance institutions (MFIs) and downscaling commercial banks in the country, has released first quarter 2008 performance statistics for its members. Accounting for 53 percent of AMFA’s total loan portfolio of USD 424.3 million were CredAgro, the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan), and the Micro Finance Bank of Azerbaijan (MFBA) whose combined portfolios totaled USD 228.1 million. Continue Reading »

The Consultative Group to Assist the Poor (CGAP) reports that currently in Malawi, approximately 90 percent of the population is unbanked. Though there is large demand for financial services, the Malawian microfinance sector suffers from lack of financial resources, outreach, and sustainability. A very weak physical infrastructure is another huge obstacle. Continue Reading »

Indian non-banking finance company, Grama Vidiyal Microfinance (GV), will look to increase its branches by 115 for its current 100. Currently GV operates in 18 districts of the southern state of Tamil Nadu. By December of 2009, the company expects to open branches in Andhra Pradesh and then in northern India. Continue Reading »

The Confederation of Indian Industry (CII) published a 2008 Business Outlook Survey on the micro, small, and medium enterprises (MSMEs) sector in India. Providing a general overview of MSMEs, the survey also prioritized key policy initiatives and discussed future scenarios for the sector. Furthermore, the CII National SME Forum changed its 2007-2008 theme to “Building MSMEs, Building India”. Continue Reading »

Source: BlueOrchard Finance. Continue Reading »

Source: Microfinance Information Exchange (MIX). Continue Reading »

Source: Microfinance Information Exchange (MIX). Continue Reading »

Source: MicroVest. Continue Reading »

Source: Microfinance Information eXchange (MIX). Continue Reading »

Source: Microfinance Information eXchange (MIX). Continue Reading »