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A 6-day strike in response to the removal of fuel subsidies in Nigeria has reportedly cost microfinance banks (MFBs) NGN 2.4 billion (USD 14.9 million) in expected inflows. Continue Reading »
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Tuesday, January 24, 2012
MICROCAPITAL BRIEF: Microfinance Banks in Nigeria Estimate Losses $14.9m Due to 6-Day Strike Against Removal of Fuel Subsidies
Tuesday, January 24, 2012
MICROCAPITAL BRIEF: Citing High Repayment Rates, FINCA Zambia to Reduce Rates, Charge Interest Based on Declining Balance
FINCA Zambia Limited, a Zambian microfinance institution (MFI) affiliated with US-based nonprofit FINCA International, plans to reduce its effective lending rates in 2012 by 20 percent after having experienced a repayment rate of 97 percent during the 2011 fiscal period. Continue Reading »
Sunday, January 22, 2012
MICROCAPITAL BRIEF: To Promote Electronic Payments, Central Bank of Nigeria Taxing Cash Transactions
The Central Bank of Nigeria has begun taxing cash withdrawals and deposits that exceed NGN 150,000 (USD 931) per day for individuals and NGN 1,000,000 (USD 6,205) per day for corporations [1]. Continue Reading »
Thursday, January 19, 2012
MICROCAPITAL BRIEF: MFTransparency Releases Microloan Pricing Report on Ethiopia’s Microfinance Industry
MFTransparency, a US-based nongovernmental organization that aims to provide clear information on credit products and pricing, recently released the report from its Transparent Pricing Initiative in Ethiopia which was launched in September 2011 [1]. Continue Reading »
Tuesday, January 17, 2012
MICROCAPITAL BRIEF: responsAbility Lends $3m to Microfinance Institutions Advans Cameroun, Opportunity International Bank of Malawi
Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans totaling the local-currency equivalent of USD 3 million to financial institutions Advans Cameroun and Opportunity International Bank of Malawi (OIBM). Continue Reading »
Tuesday, January 17, 2012
MICROCAPITAL BRIEF: United Nations (UN) International Fund for Agricultural Development (IFAD) Provides $100m to Ethiopia for Rural Microfinance, Bridges to Traditional Banks
The United Nations (UN) International Fund for Agricultural Development (IFAD), an organization working to alleviate rural poverty in developing nations, has pledged to provide USD 100 million to the Federal Democratic Republic of Ethiopia for the Rural Financial Intermediation Programme Phase II (RUFIP II). Continue Reading »
Tuesday, January 17, 2012
MICROCAPITAL BRIEF: Participatory Microfinance Group for Africa (PAMIGA) Collaborates with MicroLead Program to Open Office in Ethiopia, Support Microsavings Services of Buusaa Gonofaa, Wasasa
The Participatory Microfinance Group for Africa (PAMIGA), a Paris-based microfinance network, has opened an office in Ethiopia with the support of the United Nations Capital Development Fund (UNCDF) MicroLead Program, which aims to promote microsavings. Continue Reading »
Monday, January 16, 2012
MICROCAPITAL BRIEF: Pesinet Brings Microinsurance, Health Monitoring to Children in Mali
MobileActive, a global network of people using mobile technology for social impact, recently reported on Pesinet, a French nonprofit that uses mobile technology to provide regular health checkups and insurance to young children in Mali. Continue Reading »
Tuesday, January 10, 2012
MICROFINANCE EVENT: Aiden Business Solutions Hosts “2nd Annual Africa Banking & Finance Conference – ABFC 2012” in Nairobi, Kenya, March 6 and March 7, 2012
Event Name: 2nd Annual Africa Banking & Finance Conference – ABFC 2012
Event Date: March 6 and March 7, 2012
Event Location: Crowne Plaza Hotel, Nairobi, Kenya Continue Reading »
Tuesday, January 10, 2012
MICROFINANCE EVENT: Hanson Wade Hosts “Financing Low Cost Housing Africa” in Nairobi, Kenya, March 28 – March 29, 2012
Event Name: Financing Low Cost Housing Africa
Event Date: March 28 and March 29, 2012
Event Location: Hilton Nairobi Hotel, Nairobi, Kenya Continue Reading »
Tuesday, January 10, 2012
MICROCAPITAL BRIEF: Lagos Chapter of Nigeria’s National Association of Microfinance Banks (NAMB) to Undertake Micro-Housing Project
The Lagos State Chapter of the National Association of Microfinance Banks (NAMB), a trade group of microfinance banks (MFBs) in Nigeria, has announced that it plans to undertake a micro-housing project for “low-income earners” in Lagos state [1]. Continue Reading »
Tuesday, January 10, 2012
MICROCAPITAL BRIEF: 48 Tanzanian Microfinance Institutions Adopt Code of Conduct Covering Transparency, Client Protection
The Tanzania Association of Microfinance Institutions (TAMFI) has announced that 48 of its member microfinance institutions (MFIs) have adopted a code of conduct. Winnie Terry, TAMFI Executive Secretary, was quoted as having said, “With this code of conduct, TAMFI members are expected to take a leading role to deliver high quality and responsible financial services to the community. The code is intended to make Microfinance Institutions become more responsive to the clients they serve.” Continue Reading »
Tuesday, January 10, 2012
MICROCAPITAL BRIEF: Central Bank of Kenya to Allow Deposit-Taking Microfinance Institutions (DTMs) to Use Agents to Provide Financial Services
The Central Bank of Kenya (CBK), Kenya’s central banking authority, has reportedly issued guidelines allowing deposit-taking microfinance institutions (DTMs) to use agents to provide financial services in an effort to promote financial inclusion of the “unbanked and under-banked population” [1]. Continue Reading »
Monday, January 9, 2012
MICROCAPITAL BRIEF: Nigeria’s National Association of Microfinance Banks (NAMB) Asks Government Not to Set Up Microlenders
The Lagos State Chapter of the National Association of Microfinance Banks (NAMB), a trade group of microfinance banks (MFBs) in Nigeria, has reportedly asked the federal government not to set up MFBs [1]. Continue Reading »
Sunday, January 8, 2012
MICROCAPITAL BRIEF: Government of Rwanda, Visa Incorporated Partner on Electronic Financial Services
The government of Rwanda and US-based payment technology firm Visa Incorporated have announced a collaboration to extend access to financial services throughout Rwanda [1]. Continue Reading »
Friday, December 30, 2011
MICROCAPITAL BRIEF: PlaNet Finance Seeking Researcher for Short-Term Study on Microfinance and Women in West Africa
PlaNet Finance, a France-based nonprofit that works to alleviate poverty through microfinance, has released a call for expressions of interest from researchers to conduct a study on microfinance and women in West Africa [1]. Continue Reading »
Wednesday, December 28, 2011
MICROCAPITAL BRIEF: CBZ Bank of Zimbabwe, Zimbabwe Microfinance Wholesale Trust Issuing Loans of Up to $50k to Microfinance Institutions in Zimbabwe
CBZ Bank of Zimbabwe and the Zimbabwe Microfinance Wholesale Trust, which is affiliated with the Zimbabwe Association of Microfinance Institutions, have begun issuing loans of up to USD 50,000 to microfinance institutions (MFIs) in Zimbabwe. Continue Reading »
Monday, December 26, 2011
MICROCAPITAL BRIEF: Mozambique Launches Rural Finance Strategy
Mozambican Ministry of State Administration recently launched its Rural Finance Strategy, a five-year program that aims to provide financial access in rural areas of Mozambique. Continue Reading »