Sarona Asset Management is a boutique investment firm with the goal of achieving triple bottom line targets: profit for its investors, economic benefit for developing countries and reduced impact on or improvement in a focus on the environment.  Its newest fund, the Sarona Frontier Markets Fund, is focused on harnessing the growth and vitality of micro-, small and medium-sized enterprises (MSMEs) in developing countries.

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Paul DiLeo, Managing Partner at Grassroots Capital, plays a role in attracting private capital to the company, creating investment vehicles to address market gaps and raising funding to support new initiatives.  Mr. DiLeo launched and now co-manages the Global Microfinance Equity Fund and the Gray Ghost Microfinance Fund, which is a private, for-profit microfinance fund originally established to demonstrate the viability of microfinance investment.  He obtained his bachelor’s degree from the University of Massachusetts (US), has a master’s degree from Boston University (US) and completed studies in business accounting and finance at New York University (US). Continue Reading »

Mr. Crawford is Chief Executive Officer of MicroVest Capital Management, responsible for the development, management and growth of MicroVest, including developing and implementing business development strategies and supervising investment deals. He led the launch of MicroVest I, LP, a commercial private equity vehicle focused on microfinance in North America. He has over 20 years of experience with microfinance institutions (MFIs) and capital markets and has worked in Latin America, Africa and Asia. 

Previously, Mr. Crawford worked for the Latin American Financial Markets Division at the International Finance Corporation (IFC), created and ran Seed Capital Development Fund and was the Assistant Project Director for Africa Venture Capital Project. Mr. Crawford received his bank training at Chase Manhattan Bank in the mid 1980’s after working in Africa for the Red Cross and the US State Department. He graduated from Johns Hopkins University School of Advanced International Studies (SAIS) (US) in 1983 and Bates College (US) in 1980. Continue Reading »

By Zoran Stanisljevic, based on his interview with Christina Leijonhufvud, Managing Director of the Global Social Sector Finance Group at JP Morgan, published by MicroCapital.org, December 2009, 5 pages, available at http://www.microcapital.org/downloads/whitepapers/Diligence.pdf Continue Reading »

Damian von Stauffenberg is the founder of MicroRate, a rating agency specializing in microfinance.  Mr. von Stauffenberg founded MicroRate in 1997 and served as its CEO until 2009.  Through its Latin American and African subsidiaries, MicroRate has conducted over 400 ratings of microfinance institutions in Latin America, Africa and Eastern Europe. 

Mr. von Stauffenberg previously worked for 25 years at the World Bank and its private sector affiliate, the International Finance Corporation (IFC).  He has been president of Seed Capital Development Fund (SCDF), chairman of the investment committee of ProFund, chairman of the executive committee of MicroVest and a member of the executive committee of the Latin American Challenge Investment Fund (LA-CIF). Continue Reading »

Bob Annibale is Global Director of Citi Microfinance. He leads the bank’s commercial relationships with microfinance institutions, on a multi-business and product basis, providing financing and product partnerships to institutions that serve the poor and the unbanked.

He joined Citibank in 1982. After a first assignment in Greece, he held a number of senior treasury, risk and corporate positions at Citi in Athens, Bahrain, Kenya, London and New York.  Mr. Annibale completed his BA degrees in History and Political Science at Vassar College and his Masters Degree in African Studies (History) at the University of London, School of Oriental and African Studies.

Mr. Annibale served on the Board of Advisors for the United Nations High Level Commission on Legal Empowerment of the Poor. He represents Citi on the Board of the Microfinance Information Exchange, on the Council of Microfinance Equity Funds and with the Microfinance Network. He also serves on a number of other external boards and councils. Continue Reading »

Bob Annibale is Global Director of Citi Microfinance. He leads the bank’s commercial relationships with microfinance institutions, on a multi-business and product basis, providing financing and product partnerships to institutions that serve the poor and the unbanked.

He joined Citibank in 1982. After a first assignment in Greece, he held a number of senior treasury, risk and corporate positions at Citi in Athens, Bahrain, Kenya, London and New York.  Mr. Annibale completed his BA degrees in History and Political Science at Vassar College and his Masters Degree in African Studies (History) at the University of London, School of Oriental and African Studies.

Mr. Annibale served on the Board of Advisors for the United Nations High Level Commission on Legal Empowerment of the Poor. He represents Citi on the Board of the Microfinance Information Exchange, on the Council of Microfinance Equity Funds and with the Microfinance Network. He also serves on a number of other external boards and councils. Continue Reading »

Ms. Leijonhufvud is Managing Director of the Global Social Sector Finance Group at JPMorgan. The SSF unit leverages JP Morgan’s products and skills to help bring financial services to microfinance and social enterprises around the world.  The scope includes capital markets, structured products and principal investments.  The unit seeks to achieve a double bottom line of social benefit and financial returns. According to JP Morgan, potential demand for sustainable financial services is immense, at an estimated USD 300 billion. JPMorgan utilizes its global IB platform to raise capital to support poverty alleviation initiatives in developing economies

Ms. Leijonhufvud has led J.P. Morgan’s Social Sector Finance unit since its inception in late 2007. A double bottom line initiative that brings financial services and financing to microfinance institutions and other enterprises serving the base of the economic pyramid, Social Sector Finance also focuses on engaging the firm’s employees in these sectors. Outside J.P. Morgan, Ms. Leijonhufvud serves on the Advisory Board for the Center for Financial Inclusion, has been a consultant to Ashoka-Innovators for the Public in their social financial services venture, and has lectured widely on financial globalization and emerging markets risks. Ms. Leijonhufvud has held various risk management positions at J.P. Morgan, including as head of Country Risk Management & Advisory, Credit Portfolio Market Risk Management, Emerging Markets Market Risk Management, and Industry Concentrations. Prior to joining J.P. Morgan in 1996, Ms. Leijonhufvud worked at the World Bank as Country Officer, helping develop reform programs and borrowing strategies for the former Soviet Republics of Central Asia. In 1991, she served on the Economic Reform Committee for the Government of Kazakhstan. Ms. Leijonhufvud earned a M.Sc. degree in Economics from the London School of Economics, a M.A. degree in International Affairs from George Washington University, and a B.A. in Sociology from UCLA. Continue Reading »

Ms. Leijonhufvud is Managing Director of the Global Social Sector Finance Group at JPMorgan. The SSF unit leverages JP Morgan’s products and skills to help bring financial services to microfinance and social enterprises around the world.  The scope includes capital markets, structured products and principal investments.  The unit seeks to achieve a double bottom line of social benefit and financial returns. According to JP Morgan, potential demand for sustainable financial services is immense, at an estimated USD 300 billion. JPMorgan utilizes its global IB platform to raise capital to support poverty alleviation initiatives in developing economies.

Ms. Leijonhufvud has led J.P. Morgan’s Social Sector Finance unit since its inception in late 2007. A double bottom line initiative that brings financial services and financing to microfinance institutions and other enterprises serving the base of the economic pyramid, Social Sector Finance also focuses on engaging the firm’s employees in these sectors. Outside J.P. Morgan, Ms. Leijonhufvud serves on the Advisory Board for the Center for Financial Inclusion, has been a consultant to Ashoka-Innovators for the Public in their social financial services venture, and has lectured widely on financial globalization and emerging markets risks. Ms. Leijonhufvud has held various risk management positions at J.P. Morgan, including as head of Country Risk Management & Advisory, Credit Portfolio Market Risk Management, Emerging Markets Market Risk Management, and Industry Concentrations. Prior to joining J.P. Morgan in 1996, Ms. Leijonhufvud worked at the World Bank as Country Officer, helping develop reform programs and borrowing strategies for the former Soviet Republics of Central Asia. In 1991, she served on the Economic Reform Committee for the Government of Kazakhstan. Ms. Leijonhufvud earned a M.Sc. degree in Economics from the London School of Economics, a M.A. degree in International Affairs from George Washington University, and a B.A. in Sociology from UCLA. Continue Reading »

Ms. Leijonhufvud is Managing Director of the Global Social Sector Finance Group at JPMorgan.  The SSF unit leverages JP Morgan’s products and skills to help bring financial services to microfinance and social enterprises around the world.  The scope includes capital markets, structured products and principal investments.  The unit seeks to achieve a double bottom line of social benefit and financial returns.  According to JP Morgan, potential demand for sustainable financial services is immense, at an estimated USD 300 billion. JPMorgan utilizes its global IB platform to raise capital to support poverty alleviation initiatives in developing economies. Continue Reading »

By Marco Coppoolse, published by MicroCapital.Org, August 2009, 9 pages, available at:
http://www.microcapital.org/downloads/whitepapers/Will_Microfinance_Rema…

Microfinance has seen an expansion of its products formula from 2005 to 2007. The author’s view is that the microfinance sector will not stay as a separate asset class for long, as more MFIs are developing into full service microfinance banks for the emerging markets sector. MFIs are becoming members of the emerging market banking asset class. These full service microfinance banks offer even larger individual SME loans, savings, remittances, insurance and sometimes even credit cards. While they still service “the poor,” they have entered into new market segments, introduced new products and partnered with mainstream investors.

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According to AllAfrica, a multi-media content service provider of news in Africa, USAID has recently signed a USD 16 million dollar loan agreement with Ethiopian Awash International Bank and Oromiya Cooperative Bank S.C [1]. The agreement was reached to help strengthen the economic development of Ethiopia by enabling microfinance institutions and savings and credit cooperatives to offer more loans [1]. No additional information is provided as to whether the funds are on-lent to MFIs or which MFIs will receive these funds. According to the AllAfrica story, the loan agreement would reduce collateral requirements to beneficiaries by 50 percent, but it is unclear who the beneficiaries are. There is no additional information regarding the terms and usage of loan, structure of the program or how it would reduce collateral requirements is provided. Continue Reading »

Event Name: Mobile Money Transfer (MMT) APAC Conference & Expo, December 8-9, 2009, Manila, Philippines

Date: December 8-9, 2009
Type: Conference
Location: Manila, Philippines

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

MICROCAPITAL EVENT: Approaches to Local Development through Sustainable Innovation, June 10-11, 2010, Trento, Italy

Event Name: Approaches to Local Development through Sustainable Innovation

Date: June 10-11, 2010
Type: Conference
Location: Trento, Italy

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By International Finance Corporation, published by World Bank, September 2009, 31 pages, available at:
http://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1252…

The International Finance Corporation has recently published a report on payments and securities settlement systems, remittances, credit reporting and secured transactions and collateral registries, with recommendation for reform to create greater efficiency and reliability for the system, while reducing costs and increasing access to financial services.

The report notes that financial infrastructure touches at least every 5th person in emerging markets. While credit bureaus cover 390 million people with remittances of over 700 million and payment systems at 1 billion, the IFC belives that a new more efficient financial infrastructure allows for cost reduction of up to 75 percent or more in transactions costs for credit evaluations, collateralizing loans, remittances and payments. Improvements in financial infrastructure have the potential to enable access to financial services for half the population in emerging markets in the next 10 years. Continue Reading »

By CGAP, published by CGAP, September 2009, 6 pages, available at:
http://www2.cgap.org/gm/document-1.9.38570/CGAPBrief_MIV.pdf

Consultative Group to Assist the Poor (CGAP) has recently published a Benchmark Survey which illustrated that while MIVs grew by 31 percent in 2008, overall MIV performance may deteriorate in 2009 as increased credit risks persist. The survey also revealed MIVs efforts to include environment, social and governance considerations in their investment policies, due diligence, and monitoring.

The survey represents 103 MIVs (90 percent of total MIV assets within the MIV investment universe) with an estimated USD 6.6 billion in assets under management. Growth in MIV assets were supported by both public and private investors as retail investors continued to invest in MIVs as well. Continue Reading »

vent Name: Conference: “Microfinance Regulations: Who Benefits?”

Date: March 15-17, 2010

Location: Pan Pacific Sonargaon Hotel, Dhaka, Bangladesh

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MICROCAPITAL EVENT: Institutional and Technological Environment for Microfinance Conference, January 7-8, 2010, New Delhi, India

Event Name: Institutional and Technological Environment for Microfinance Conference

Date: January 7-8, 2010

Location: India Habitat Center, New Delhi, India

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