LeapFrog Investments, a Mauritius-based for-profit equity fund investing in microinsurance, has announced two new hires. Continue Reading »

Grameen Foundation, a US-based nonprofit organization that aims to help microfinance institutions (MFIs) replicate Grameen Bank’s joint-liability lending model, and the United States Agency for International Development (USAID), a government agency that provides economic and humanitarian assistance, have issued a USD 1 million joint guarantee to support Proempresa, a Peru-based MFI. Continue Reading »

According to a March 2012 report, “A Billion to Gain: Dutch Contributions to the Microfinance Sector”, by the economic desk of Dutch ING Bank, the global microfinance market is expected to grow by four percent in 2012 reaching a total equivalent to USD 80.5 billion. Continue Reading »

According to a statement attributed to Nigerian Stock Exchange (NSE) CEO Oscar Onyema, the upcoming World Economic Forum (WEF) on Africa will be an opportunity for Nigerian enterprises to seek funding. Continue Reading »

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will provide a five-year credit line of USD 25 million to Banco BBVA Panama to expand its lending to farmers and small and medium-sized enterprises (SMEs) with the aim of promoting regional economic integration [1]. Continue Reading »

Small Industries Development Bank of India (SIDBI), a governmental loan wholesaler to microfinance institutions (MFIs) in India, has reportedly required that SKS Microfinance Limited (SKS), an Indian MFI, use proceeds of a recent SIDBI loan for on-lending outside of the state of Andhra Pradesh [1]. Continue Reading »

Imp-Act Consortium, a UK-based network of microfinance organizations interested in social performance management, has launched an initiative to discover: “What works for clients?”. Continue Reading »

At a recent meeting, microfinance officials from Afghanistan and Pakistan opined that working together to develop and promote financial infrastructure that supports microfinance could benefit the two countries. Continue Reading »

With seed capital of SGD 5 million (USD 3.96 million) from the Singapore Totalisator Board, a quasi-governmental gaming commission also known as the Tote Board, POSBank (POSB), a commercial bank in Singapore, and Social Enterprise Hub, an incubator of social enterprises in Singapore, have launched the MicroCredit Business Scheme (MCBS) to provide loans to citizens of Singapore with annual incomes lower than SGD 30,000 (USD 23,800). Continue Reading »

Triodos Investment Management, which manages funds that invest in venture capital and social finance, has announced that it will act as co-investment manager alongside Women’s World Banking Asset Management for Isis Fund, an equity fund that aims to increase access to finance for women around the world. Continue Reading »

The World Council of Credit Unions (WOCCU), a US-based trade association for credit unions in 51 countries, and Federación de Nacional de Cooperativas de Ahorro y Crédito (FENACOAC), an association of credit unions and cooperatives in Guatemala, is using technology to assist rural farmers in Guatamala and Mexico in achieving financial stability. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to set up the Micro Finance Initiative for Asia (MIFA), a Luxembourg-based USD 100 million microfinance debt fund [1]. Continue Reading »

SKS Microfinance Limited (SKS), an Indian microfinance institution (MFI), reportedly has obtained a loan of INR 1 billion (USD 20.1 million) from the government-backed Small Industries Development Bank of India (SIDBI), a loan wholesaler to MFIs in India. Continue Reading »

Vikram Akula, the founder of Indian for-profit microfinance institution (MFI) SKS Microfinance Limited, reportedly acknowledged that Dr Muhammad Yunus was “right” about the challenges of “bringing private capital into social enterprise.” Continue Reading »

PlaNet Finance, a nongovernmental organization based in France, recently announced that its shea butter project in northern Ghana has employed 3,500 women to date and is expected to employ 1,500 more in the next year [1]. Continue Reading »

Mifos is a software package used to manage the data of microfinance institutions. The software is “open-source” meaning that it is free of charge and can be edited to meet local needs. Continue Reading »

Muhammad Yunus, founder of Grameen Bank of Bangladesh, has reportedly announced that Grameen America, a nonprofit microfinance institution (MFI) based in the US state of New York City, will open additional branches in California, Michigan and Nebraska [1]. Continue Reading »