Ingenico S.A., a global electronic payment solutions company based in France, recently took a controlling interest in TransferTo, a Singapore-based telecommunications company, increasing its stake in the company from 35 percent to 90 percent. Continue Reading »
Sa-Dhan, a microfinance network in India with total member assets of INR 117 billion (the equivalent of USD 2.6 billion) as of March 2010, has launched a microfinance and financial inclusion magazine entitled “Micro Matters.” Continue Reading »
The Yemen Microfinance Network (YMN), a new network of microfinance institutions in Yemen, recently held its official launch at the Movenpick Hotel in Yemen. Continue Reading »
The Belgian Investment Company for Developing Countries (BIO), established in 2001, recently loaned USD 4 million each to two microfinance institutions (MFIs) in Cambodia: Prasac and Sathapana. Continue Reading »
By Jennifer Powers and Barbara Magnoni of EA Consultants, Published by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB), April 2010, 100 pages, available at: http://idbdocs.iadb.org/wsdocs/getDocument.aspx?DOCNUM=35282406
The authors of this study focused on the differences between male and female entrepreneurs in six countries in Latin America: Guatemala, Nicaragua, Colombia, Bolivia, Mexico and Peru. Continue Reading »
ThoughtWorks, a global technology company based in the US state of Illinois, has announced that it will provide software engineering services for The Grameen Foundation’s Mifos Platform, a software platform launched in 2006. Continue Reading »
The Reserve Bank of Fiji (RBF) has reportedly completed an initiative in which all commercial banks in Fiji have complied with a requirement to establish a “microfinance unit.” Continue Reading »
In Kocaeli, Turkey, a “Special Provincial Administration” has reportedly distributed microloans totaling TRY 958,000 (equivalent to USD 629,000) to 993 female entrepreneurs. Continue Reading »
Since 2008 Saija Finance Private Limited, a nonbanking finance company with total assets of INR 11 million (equivalent to USD 240,000), has been providing microfinance services in the Indian state of Bihar, which according to a report by the National Bank for Agriculture and Rural Development (NABARD), has a credit-demand supply gap of 96 percent. Continue Reading »
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, has recently released the Portuguese version of its most recent report on microfinance in Brazil, entitled “The 2009 Brazil Microfinance Analysis and Benchmarking Report.” Continue Reading »
Vineet Sukumar of the Institute for Financial Management and Research (IFMR) Capital has recently written a counter-argument to an article written by Daniel Rozas and Vinod Kothari and published by Microfinance Focus which argued that “microfinance securitization does not, in reality, separate ‘pool risk’ from ‘originator risk’ and hence should not be rated very differently from the originator of the portfolio.” Continue Reading »
The Finance Minister of India, Pranab Mukherjee, recently commented that mainstream financial institutions are not currently, but should be, reaching India’s poor. Continue Reading »
The Agricultural Bank of China Limited (ABC), a state-owned bank with total assets of USD 5.6 billion as of 2009, has reportedly provided microloans of USD 12.2 billion to Chinese farmers within the first three months of 2010. Continue Reading »
Mercy Corps, a global relief and development agency based in the US, has informed MicroCapital that it has established a facility called “Fund for Rebuilding Communities through Micro-enterprise (FRCM)” to give grants for the rebuilding of small businesses that were damaged during the recent violence in Kyrgyzstan. Continue Reading »
CGAP (Consultative Group to Assist the Poor) recently announced that approximately 300 microfinance institutions (MFIs) plan to submit their performance record to the “Second Annual Social Performance Reporting Awards,” an event to take place in 2011 that is being put together by CGAP, the Ford Foundation, the Michael & Susan Dell Foundation, the Social Performance Task Force (SPTF) and the Microfinance Information Exchange (MIX) to promote transparency of MFIs and display their achievements. Continue Reading »
The Association of Microfinance Institutions of Peru (ASOMIF Peru), a network of 23 microfinance institutions (MFIs) in Peru, has reported that as of April 2010, the country’s credit portfolio for microfinance institutions (MFIs) was USD 5.9 billion, up 19 percent from April 2009. Continue Reading »
The Microfinance Information Exchange (MIX) has recently released its first set of “Country Briefings” which provide information on microfinance institution (MFI) performance, funding structure and supply and demand. Continue Reading »
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