Jamii Bora Trust, a Kenya-based microfinance institution (MFI), has teamed up with Seattle, Washington-based non-profit MFI Unitus to launch an ecologically friendly town in Kenya, Africa. It is estimated that approximately 2, 500 families will purchase homes with microloans in Kaputei, a 160-hectare plot of land located 22 miles (36 kilometers) away from Kenya’s capital, Nairobi. In June 2009, 700 homes had been built, or in the process of being built. By the end of the project, 2, 000 homes are expected to be constructed. Continue Reading »

SKS Microfinance, a microfinance organization based in Andhra Pradesh (India), recently announced its partnership with life insurance company Bajaj Allianz to extend its microinsurance project, ‘Swayam Shakti Suraksha,’ to cover the husbands of SKS members. Continue Reading »

Event Name: Clinton Global Initiative (CGI) Fifth Annual Meeting

Event Date: September 22-25, 2009

Event Location: Sheraton New York Hotel and Towers, New York City, NY, U.S.

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events Continue Reading »

Christopher Okumu, chief administrative officer of Kitgum District in northern Uganda, has announced that teachers in Lira, a neighbouring district of approximately 674,744 people in northern Uganda, have ‘fled’ from their respective schools as a result of defaulting on their loan payments to various microfinance institutions (MFIs) [1]. Continue Reading »

Banco de Crédito del Perú (BCP) recently announced its deal with nongovernmental organization CARE, to purchase a 77.2% stake in the Peru-based microfinance company, Financiera Edyficar. BCP is a Peruvian publicly-traded commercial bank founded in 1889 and owned by Credicorp Ltd, a financial holding company in Peru. BCP offers services and products to businesses and individuals, as well as small and medium-sized enterprises [1]. In March 2008, BCP reported total assets of USD 17.3 billion, a debt-equity ratio of 1,422.10%, and a return on average assets of 2.13%. It has a BBB- credit rating from both Standard & Poor’s and Fitch Ratings. As of June 2009, BCP claimed 32% of loans and 36% of deposits in the Peruvian banking system. Approximately 97% of BCP is owned by Credicorp [2]. Continue Reading »

Event Name: Institutional and Technological Environment for Microfinance

Event Date: January 7-8, 2010

Event Location: New Delhi, India, India Habitat Center

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events Continue Reading »

United States Senator Bob Menendez of the state of New Jersey, U.S. recently announced plans to invest in the Latin American and Caribbean (LAC) microfinance sector. The U.S. administration will launch a Microfinance Growth Fund (MGF) with the following organizations: the Overseas Private Investment Corporation (OPIC), an independent U.S. government agency which assists with investments in developing countries; the Multilateral Investment Fund (MIF), an autonomous fund administered by the Inter-American Development Bank (IDB); and the Inter-American Investment Corporation (IIC), an affiliate of the IDB which supports private sector and capital market development in LAC countries. Continue Reading »

Mr. Gregory W. Meeks, a United States (U.S.) Congressman representing New York State’s Sixth Congressional District in the U.S. House of Representatives recently led a delegation to Kigali, Rwanda. The representatives met to explore the existing microfinance situation in sub-Saharan Africa, and to better understand the needs for expanding micro-banking services in the region. Continue Reading »

A recent press release announced a new program to be implemented by the Michael and Susan Dell Foundation in association with Unitus, an international non-profit organization specializing in microfinance. The Social Performance Management Implementation Project (SPM IP) will be launched in India to measure the impact of microfinance institutions (MFIs) on the borrowers who work with them. Social performance management is a program used to assess an organizations goals, its progress towards these goals, and the need for improving process to strengthen future performance. Continue Reading »

Event Name: Lessons Learnt and Lessons to Learn in the Field of Micro Health Insurance in Africa

Event Date: December 2-3, 2009

Event Location: Lilongwe, Malawi, Malawi Institute of Management

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In June 2008, the International Finance Corporation (IFC) announced a proposed investment in Financiera El Comercio, a Paraguayan microfinance institution (MFI) [1]. On August 12, 2009 the proposal was approved and the IFC declared an investment of USD 1.2 million in the MFI. The investment is part of the IFC’s plan to protect and support MFIs in the wake of the economic crisis [2]. Details about the approved investment have yet to be disclosed, however the proposed investment projected a 12% equity investment in Financiera El Comercio. According to the proposal, the purpose of the investment is to help ensure the MFI’s sustainability and to provide capital support for its future growth [1]. Continue Reading »

Advans Ghana and Advans Cameroun, two microfinance institutions (MFIs) operating under Advans SA Sicar (Advans SA), recently reported capital increases of EUR 1 million and EUR 2.3 million respectively [1]. Advans SA is managed by Horus Development Finance, a French consulting firm that provides technical assistance to microfinance institutions in developing countries. It owns and frequently partners with Advans SA on projects. Financial data on Horus is not available on MIX Market or on the firm’s website. Co-investors on Advans SA include: Agence Française de Développement (AFD), European Investment Bank (EIB), Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden N.V. (FMO), International Finance Corporation (IFC) and KfW Entwicklungsbank (KfW) [2]. Continue Reading »

Published August 2009 as #135 of reports released by Arthur D. Little, 4 pages, available for registered ADL website users at: http://www.adl.com/reports.html?&no_cache=1&view=421 Continue Reading »

Event Starts: Oct 28, 2009 at 08:00
Event Ends: Oct 29, 2009 at 18:00

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events. Continue Reading »

Nokia Corp, a Finnish telecommunications company and the world’s leading mobile phone supplier, has announced the launch of Nokia Life Tools (NLT) in 12 states across India. As mentioned in a previous MicroCapital story, Nokia has teamed up with Hyderabad-based SKS Microfinance, a non-banking finance company, to deliver these services. NLT is a feature offered on Nokia 2323 and 2330 mobile phones, enabling subscribers to access agriculture-related information, educational resources, and entertainment applications [1]. After the “great success” of a pilot project conducted in Maharashtra testing the rural market for this feature, Nokia vice-president and chief development officer Mary McDowell announced preparations to introduce NLT throughout rural India [2]. Continue Reading »