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Friday, January 14, 2011

MICROCAPITAL BRIEF: Stanford University Study Indicates Success of Ghana Shea Value Chain Initiative, Olam International Enters As Buyer

A recent study from researchers at California’s Stanford University indicates that the Ghana Shea Value Chain Initiative, a program designed to improve the incomes and living conditions of women in Ghana who are engaged in the shea nut harvesting and shea butter business, has met many of its program targets. Additionally, Olam International, a Singapore-based processor of agricultural products and food ingredients, has signed an agreement to become a major buyer of the initiative’s products. Continue Reading »

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Thursday, January 13, 2011

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $20m in Banco Triângulo SA (Tribanco) to Support Lending to Micro-, Small and Medium-Sized Enterprises (MSMEs) in Brazil

International Finance Corporation (IFC), the private sector arm of the World Bank Group, is making a USD 20 million equity investment in newly issued common shares of Banco Triângulo SA (Tribanco), a Brazilian bank that primarily serves small businesses. IFC’s investment in Tribanco supports a partnership that began six years ago when IFC provided USD 25 million in funding to the bank. Continue Reading »

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Wednesday, January 12, 2011

MICROCAPITAL BRIEF: Beijing’s CreditEase Launches Online Referral Engine in Response to Growing Microfinance Sector in China

CreditEase, a Beijing-based financial services firm, has launched an online referral engine in China aimed at connecting investors and the public with borrowers that include graduate students and rural women through partnerships with merchants, microfinance institutions (MFIs) and universities. The company’s microfinance operations are detailed at http://www.yinongdai.com/. While other lending services are handled via http://www.creditease.cn/. Continue Reading »

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Tuesday, January 11, 2011

MICROCAPITAL BRIEF: Former Directors of Havilah Microfinance Bank Limited, Rufus Dada Oluyole and Rotimi Olubowale, Arraigned in Nigeria For Conspiracy, Other Charges

Former directors of Havilah Microfinance Bank Limited, Rufus Dada Oluyole and his son-in-law Rotimi Olubowale, have been arraigned before a magistrate’s court in Lagos, Nigeria on criminal charges of conspiracy, forging the letterhead of Havilah and falsely representing themselves as directors of the bank to customers after they no longer filled those roles. Continue Reading »

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Tuesday, January 11, 2011

MICROCAPITAL BRIEF: West African Development Bank (WADB) Loans $3m to Kafo Jiginew, a Malian Microfinance Institution (MFI) and Funder of Credit Unions

The West African Development Bank (WADB), an international development bank based in Lomé, Togo, and Kafo Jiginew, a microfinance institution (MFI) based in Mali, have come to terms on a XOF 1.5 billion (USD 3.03 million) loan to Kafo Jiginew to expand its financing of local agricultural projects, including loans to cotton growers and credit unions. Continue Reading »

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Monday, January 10, 2011

MICROCAPITAL BRIEF: MFTransparency Launches Transparent Pricing Initiative in Rwanda Aiming to Reduce Interest Rates on Microfinance Loans

MFTransparency, a US-based nongovernmental watchdog that focuses on interest rates in the microfinance industry, recently expanded its Transparent Pricing Initiative to Rwanda to educate citizens in that country on interest rates in an effort to impel microfinance institutions (MFIs) in the country to lower microfinance interest rates. Plans for this expansion were announced on this website in October. Continue Reading »

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Monday, January 10, 2011

MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $8.8m of Debt Capital Through Non-Convertible Debenture (NCD) Issuance to Developing World Market’s Member Company DWM (Cyprus) Limited

Ujjivan Financial Services, a microfinance institution (MFI) headquartered in Bangalore, India, has raised INR 40 crores (USD 8.82 million) of debt capital through the issuance of non-convertible debentures (NCDs) to Developing World Market (DWM) (Cyprus) Limited, a member company of Developing World Markets, a US-based social investment fund manager. Continue Reading »

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Monday, December 6, 2010

MICROCAPITAL BRIEF: Swiss Reinsurance Company Limited (Swiss Re) Partners with Vietnam Agribank Insurance Joint Stock Company (ABIC) To Launch Insurance Product Aimed at Protecting Microfinance Loans

Swiss Reinsurance Company Limited (Swiss Re), a global reinsurer based in Zurich, recently announced the launch of an index-based insurance program in partnership Vietnam Agribank Insurance Joint Stock Company (ABIC), the insurance arm of Vietnamese agricultural bank Agribank. The program will insure microloans to rice farmers in 10 provinces in Vietnam. Continue Reading »

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Friday, December 3, 2010

MICROCAPITAL BRIEF: State Bank of Pakistan (SBP) Increases Minimum Capital Requirement for Microfinance Banks

The State Bank of Pakistan (SBP) has increased the minimum capital requirements for microfinance banks in Pakistan in an effort to ensure that microfinance banks have adequate financial resources to remain sound over the long term. Continue Reading »

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Thursday, December 2, 2010

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Confederación de Cámaras Industriales de los Estados Unidos Mexicanos (CONCAMIN) and Instituto Tecnológico y de Estudios Superiores de Monterrey Partner To Launch Web-Based Toolkit for Mexico

The International Finance Corporation (IFC); the Confederación de Cámaras Industriales de los Estados Unidos Mexicanos (CONCAMIN), a group of organizations designed to promote the development of Mexico’s manufacturers and entrepreneurs; and the Instituto Tecnológico y de Estudios Superiores de Monterrey, a technological university in Monterrey, Mexico, have partnered to launch the SME Toolkit Integrapyme in Mexico, a web-based toolkit that has been used since 2006 in other countries to assist managers of micro-, small and medium-sized enterprises (MSMEs). Continue Reading »

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Thursday, December 2, 2010

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Assesses Potential Impact of Recent Microfinance Regulation in India’s Andhra Pradesh State

Microfinance Information Exchange (MIX), a nonprofit that seeks to offer objective data and analysis on microfinance players, recently examined historical data from 2003 to the present from 100 MFIs in India to assess the hypothetical impact of capping interest rates at 24 percent and return on assets (ROA) at 3 percent, two limits effectively imposed by the state government on MFIs amidst the ongoing crisis in the microfinance industry in India’s Andhra Pradesh state. Continue Reading »

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Thursday, December 2, 2010

MICROCAPITAL BRIEF: Standard Chartered Bank Tanzania Arranges, USAID Guarantees Local-Currency Bond for Tanzanian Microfinance Institution (MFI) Promotion for Rural Initiatives and Enterprise Limited (PRIDE Tanzania)

Standard Chartered Bank Tanzania, a division of the London-based international bank Standard Chartered PLC, recently arranged a bond issue for Tanzanian microfinance institution (MFI) Promotion for Rural Initiatives and Enterprise Limited (PRIDE Tanzania), which is reportedly the first MFI bond ever issued on the Tanzania Stock Exchange. Continue Reading »

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Thursday, December 2, 2010

MICROCAPITAL BRIEF: University Commission for Development (CUD) Announces Scholarships for 2011 Academic Year, Including European Masters in Microfinance

The University Commission for Development (sometimes referred to by the French acronym CUD), a group of nine French-speaking universities in Belgium established by the Interuniversity Council of the Francophone Community (sometimes referred to by the French acronym CIUF), has announced the availability of scholarships for the 2011 academic year for training courses and academic programs that include a European Masters in Microfinance. Only applicants originating in developing countries may apply for the funding. Continue Reading »

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Thursday, December 2, 2010

MICROCAPITAL BRIEF: Harbu Microfinance Institution of Ethiopia Receives Third Annual “European Microfinance Award” At the European Investment Bank (EIB) in Luxembourg

Harbu Microfinance Institution Share Company (Harbu) of Ethiopia was recently presented the third annual “European Microfinance Award” by Maria Teresa, the Grand Duchess of Luxembourg, on behalf of the Luxembourg Round Table on Microfinance, a government organization established to catalyze interactions between microfinance institutions (MFIs) and financial institutions in Luxembourg, at the European Investment Bank (EIB) in Luxembourg. Continue Reading »

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Wednesday, December 1, 2010

MICROCAPITAL BRIEF: Sanabel Receives “Microfinance Network of the Year Award” From The Small Enterprise Education and Promotion (SEEP) Network

Sanabel, a network of microfinance institutions (MFIs) in Arab countries, was given the “Network of the Year Award” by the Small Enterprise Education and Promotion (SEEP) Network, an organization connecting microfinance practitioners around the world, at its recent annual conference in Arlington, Virginia, USA Continue Reading »

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Monday, November 29, 2010

MICROCAPITAL BRIEF: SHARE Microfin Limited Officially Delaying Initial Public Offering (IPO) Due to Rising Loan Defaults

SHARE Microfin Limited, a regulated non-banking financial company (NBFC) in India, officially delayed its planned initial public offering (IPO) of INR 10 billion (USD 218 million), originally scheduled for early 2011, due to rising default rates and tightening government regulations in India’s troubled Andhra Pradesh state. A delay had been rumored since October amidst rising uncertainty in the microfinance industry. SHARE Microfin has USD 577 million in assets, a gross loan portfolio of USD 490 million, 990 branches, 2.3 million active borrowers, return on assets (ROA) of 5.5 percent and return on equity (ROE) of 45.18 percent. Continue Reading »

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Friday, November 26, 2010

MICROCAPITAL BRIEF: Exposure to Microfinance Sector Threatens Banks’ Stocks in India

Recent analyses by Citigroup, a US-based international financial services conglomerate, indicate that banks in India are experiencing stress on their stock prices due to the falling asset quality of their microfinance institution (MFI) holdings, mainly due to the recent trouble in microfinance in the state of Andhra Pradesh. Continue Reading »

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Thursday, November 25, 2010

MICROCAPITAL PAPER WRAP-UP: Microfinance and Gender: Is There a Glass Ceiling in Loan Size? By Isabelle Agier and Ariane Szafarz, published by Pontifical Catholic University of Rio de Janeiro and Universite Libre de Bruxelles

By Isabelle Agier and Ariane Szafarz, published by Pontifical Catholic University of Rio de Janeiro and Universite Libre de Bruxelles, March 2010, 37 pages, available at: http://ssrn.com/abstract=1573872 Continue Reading »

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