Cygma, the new microfinance foreign exchange (FX) risk management group, believes that the current financial situation is driving people in the microfinance industry to use foreign currency hedging facilities. The organisation will be launching its FX hedging products for illiquid and difficult-to-hedge emerging markets currencies in the first quarter of next year. These will be executed directly by the firm without reliance on third parties, supported by its USD 50 million capital reserve fund. Continue Reading »
MICROCAPITAL STORY: New Microfinance Foreign Exchange Risk Management Group, Cygma, Believes Credit Crunch Provides Business Opportunity
MICROCAPITAL STORY: Ethiopian Microfinance Institution Buusaa Gonofaa Wins the EUR 100,000 2nd European Microfinance Award for Social Responsibility Work
Buusaa Gonofaa, an Ethiopian microfinance institution (MFI) has won the 2nd European Microfinance Award, which is worth EUR 100,000 in prize money. The prize, provided by the Grand Duchy of Luxembourg, was announced at the European Microfinance Week event (12–14 Nov), hosted by the European Microfinance Platform. This year’s award was designed to recognise and reward microfinance players who had produced outstanding work in the area of social responsibility. Buusaa Gonofaa were rewarded for their development of an innovative system for determining customer needs and evaluating changes in their social well-being. Continue Reading »
MICROCAPITAL STORY: MicroRate Publishes Public Ratings of Microfinance Institutions Conducted Between January and September 2008
Forprofit microfinance rating company MicroRate has announced the completion of the following public microfinance institution ratings between January 2008 and September 2008: Continue Reading »
MICROCAPITAL STORY: How Far Will the Credit Crunch Affect the Microfinance Industry?
At the Worldwide Microfinance Forum, 1st-2nd October in Geneva, the investment managers and financial specialists of the industry met to discuss how they could improve their returns. The mood was upbeat, with a general agreement that this emerging sector has a growing and buoyant future ahead of it, despite the panic and events that were unfolding in the mainstream financial world as the conference took place. Continue Reading »
PRESS RELEASE: Microinsurance Consortium Works to Improve Efficiency of Microfinance Insurance Market Using XBRL Standard
Source: UBmatrix. Continue Reading »
MICROFINANCE EVENT: Innovations for Poverty Action Microfinance Conference
INNOVATIONS FOR POVERTY ACTION MICROFINANCE CONFERENCE
OCTOBER 17 - OCTOBER 18, 2008, ONLINE COVERAGE
This event sponsored by Innovations for Poverty Action features speakers such as Dean Karlan, Sendhil Mullainathan, Jonathan Morduch, Esther Duflo and Jonathan Zinman. Philanthropy Action has covered the event on its website. Further details were not available.
GUEST EDITORIAL: Ties to Capital Markets Challenge Microfinance Institutions
Once relatively insulated from the world’s financial system, the microfinance industry is finding itself more closely tied to the capital markets than ever before. As a result, it is far from being immune to the current financial crisis, and some microfinance institutions (MFIs) are beginning to see their cost of borrowing go up as a consequence of the global credit crunch. Continue Reading »
MICROCAPITAL SPECIAL FEATURE: Mohammad Yunus and Michael Chu Debate Profiting from Poor People at the Worldwide Microfinance Forum
“Is it fair to do business with the poor?”
Mr Mohammad Yunus and Mr Michael Chu debated whether commercial finance should make a profit from doing business with the poor in the plenary debate at the World Microfinance Forum, October 1 - 2, 2008, in Geneva. Continue Reading »
GUEST EDITORIAL: Global Credit Crunch Crushes Socially Responsible Investment in Microfinance?
A recent spate of articles here and in other media has related the ongoing financial crisis in the credit markets to the funding and credit availability for microfinance institutions (MFIs). Articles appearing in the MicroCapital Monitor focus on the potential for the global financial crisis to adversely effect microbank lending. Former President Bill Clinton’s recent admonition to world credit markets to continue support of the microfinance sector is a strong voice for continued commitment in what could become a bear microfinance credit crunch. A jump of 150 to 200 basis points in the last quarter bodes ill for the sector. Continue Reading »
PRESS RELEASE: Advans SA of Luxembourg Opens Microfinance Institution in Ghana
Source: Advans SA. Continue Reading »
NEWS WIRE: Cambodia: Microfinance Institutions Fear Cash Drought
Source: Phnom Penh Post. Continue Reading »
PRESS RELEASE: Pakistan Microfinance Network Report Discusses Efficiency Issues
Source: Microfinance Gateway. Continue Reading »
PRESS RELEASE: World Bank Publishes Remittance Price Database
Source: International Finance Corporation (IFC). Continue Reading »
PRESS RELEASE: PepsiCo Foundation Announces $4.1m Grant to WaterPartners’ WaterCredit Initiative in India
Source: PepsiCo. Continue Reading »
PRESS RELEASE: Legatum and Fortune to Award $1m Prize for Technological Solutions to Poverty
Source: Legatum. Continue Reading »
MICROFINANCE EVENT: USAID Presents Online Conference on How Microfinance Contributes to Economic Recovery in Conflict-affected Countries
HOW DOES MICROFINANCE CONTRIBUTE TO ECONOMIC RECOVERY IN CONFLICT-AFFECTED COUNTRIES?
OCTOBER 23, 2008, ONLINE
The United States Agency for International Development (AID) is offering this online “webinar” from 10 am to 11 am, eastern US time. Mayada El-Zoghbi of consulting firm Banyan Global will present lessons learned from a collection of recent case studies completed for the Microfinance Amid Conflict research theme of AID’s Accelerated Microenterprise Advancement Project. Continue Reading »
MICROFINANCE EVENT: Housing Microfinance Conference Organized by Dutch Development Bank FMO
HOUSING MICROFINANCE CONFERENCE
SEPTEMBER 29 - OCTOBER 1, THE HAGUE, THE NETHERLANDS
FMO (the Dutch development bank) has organized a Housing Microfinance Conference to further support microfinance institutions (MFIs) in exploring the housing microfinance market and developing housing products. Continue Reading »
PRESS RELEASE: Former President Clinton, Muhammad Yunus to Speak on Closing Day of Clinton Global Initiative Annual Meeting
Source: Clinton Global Initiative.
NEW YORK, September 25 - Friday’s sessions are to feature Wangari Muta Maathai, Rick Warren, Muhammad Yunus and former Prime Minister Tony Blair, among others. Continue Reading »