Category: Key Players

MICROCAPITAL BRIEF: SKS Microfinance of India Completes $10m Securitization, Stock Reaches 52-Week High

SKS Microfinance, an Indian microfinance institution (MFI), reportedly has completed a securitization deal worth INR 544 million (USD 10 million). Continue reading

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MICROCAPITAL BRIEF: Century Deposit Taking Microfinance (DTM) of Kenya Seeking Funds to Launch Agribusiness Fund

Century Deposit Taking Microfinance (DTM), a microfinance institution (MFI) established in 2012 in Kenya, is seeking investors to allow it to launch a fund with a focus on agribusiness. Continue reading

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MICROCAPITAL BRIEF: Diamond Bank of Nigeria Introduces ‘Diamond-in-Motion’ Mobile Banking Truck

Diamond Bank Public Limited Company (PLC), a commercial bank in Nigeria, recently launched “Diamond-in-Motion”, a mobile banking service truck that will allow customers to open new accounts, pay bills and use a automated teller machine (ATM) as well as make deposits and withdrawals. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Trends in Cross-Border Funding for Microfinance; Microinsurance Among Microcredit Groups in Tanzania; Asian Development Bank Interventions Fail to Reach Enough Poor People

Current Trends in Cross-Border Funding for Microfinance;” by Estelle Lahaye and Ralitsa Rizvanolli; published by CGAP (Consultative Group to Assist the Poor); December 2012; 4 pages; available at: http://www.cgap.org/sites/default/files/Brief-Current-Trends-in-Cross-Border-Funding-for-Microfinance-Nov-2012.pdf Continue reading

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MICROCAPITAL BRIEF: West African Banks Asked to Lower Interest Rates by Central Bank of West African States (BCEAO in French)

At a recent conference held in Dakar, Senegal, a representative of the Central Bank of West African States (also known by the French acronym BCEAO) asked West African banks to decrease the interest rates they charge borrowers. Continue reading

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MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Proposes Guarantee Fund for Agricultural Credits

The Azerbaijan Microfinance Association (AMFA), a trade group of 28 microfinance institutions, recently announced that it will explore the possibility of creating a guarantee fund to insure up to 80 percent of an entrepreneur’s agricultural loan. Continue reading

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MICROCAPITAL BRIEF: Te Creemos of Mexico First Microfinance Institution (MFI) in Mexico to Issue MasterCards, Plans to Reach 250,000 New Customers Over 3 Years

MasterCard Inc, a US-based payments and technology company, has established a new business model to reach small and medium-sized enterprises (SMEs) by enabling regulated microfinance institutions (MFIs) in Mexico to become card issuers. Continue reading

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MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia to Launch Microfinance Operations in Myanmar in January 2013

In Myanmar, which recently lifted restrictions barring wholly foreign-owned direct investments, ACLEDA Bank Public Limited Company (PLC), a Cambodian commercial bank specializing in microfinance, plans to launch microfinance operations by January 2013. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $22m to Microfinance Institutions (MFIs) Worldwide, Including $2m to Costa Rican MFI National Cooperative of Educators (Coopenae), $1m Renewed to FINCA Ecuador

During November, Dual Return-Vision Microfinance and Dual Return-Vision Microfinance Local Currency, two funds managed by Austria-based investment and asset management company Absolute Portfolio Management (APM), issued the equivalent of USD 22 million in loans to microfinance institutions (MFIs) globally, with much of the funds going to MFIs in Latin America and Asia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $22m to Microfinance Institutions (MFIs) Worldwide, Including $2m to Costa Rican MFI National Cooperative of Educators (Coopenae), $1m Renewed to FINCA Ecuador Posted in Investment Funds, Key Players, Latin America

MICROCAPITAL BRIEF: Development Bank of Namibia Loans $3.4m to PostFin To Fund Rural, Small and Medium-Sized Enterprises

The Development Bank of Namibia (DBN), which has assets of NAD 1.6 billion (USD 183 million), recently disbursed the sum of USD 3.4 million to PostFin, a subsidiary of Namibia Post Limited (NamPost), to fund small and medium- sized enterprises in rural areas in addition to individuals seeking loans for housing and education. Continue reading

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MICROCAPITAL BRIEF: Renaissance Credit (RenCredit) Launches in Nigeria; Will Offer Deposits, Point-of-Sale Consumer Loans Using T24 Banking Software from Temenos of Switzerland

Renaissance Credit (RenCredit), a new microfinance institution (MFI) offering deposit services and consumer loans in Nigeria, recently began operations using T24, a “cloud-hosted core banking system” offered by Temenos, a Geneva-based banking software provider. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Renaissance Credit (RenCredit) Launches in Nigeria; Will Offer Deposits, Point-of-Sale Consumer Loans Using T24 Banking Software from Temenos of Switzerland Posted in Africa, Deals, Key Players, Technology

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) to Implement Financial Literacy Framework by March 2013

The Central Bank of Nigeria (CBN), the nation’s financial regulatory authority, recently announced plans to implement a financial literacy framework aimed at enhancing financial inclusion of unbanked people by  the first quarter of 2013. Continue reading

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MICROCAPITAL BRIEF: Smart Communications to Launch Mobile Microfinance Service Provider mBank Philippines

Smart Communications, Inc. (Smart), a wireless service provider and subsidiary of the publicly-traded Philippine Long Distance Telephone Company (PLDT), will be launching mBank Philippines, which is billed as the country’s first microfinance bank to offer all of its services only via a mobile platform. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to AccessBank Azerbaijan

AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently received a USD 10 million loan from European Fund for Southeast Europe (EFSE), a Luxembourg-based organization focused on economic development in southeastern Europe and parts of Central Asia, to expand its loan portfolio. Continue reading

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MICROCAPITAL BRIEF: Centre d’Appui a la Microfinance et au Developpement (CAMIDE), Appui au Développement Autonome (ADA), Banque d’Escompte (BdE) Launch Service Offering Money Transfers from France to Mali

Centre d’Appui a la Microfinance et au Developpement (CAMIDE), a Malian nonprofit organisation that supports microfinance and other development initiatives, recently partnered with Appui au Développement Autonome (ADA), a Luxembourg-based nonprofit organisation that supports MFI capacity building, and Banque d’Escompte (BdE), an entity of the Wormser Frères Bank in France, to launch a new service offering money transfers from France to Mali. Continue reading

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MICROCAPITAL BRIEF: Waseela, Mobilink Partner to Offer Branchless Banking in Pakistan

Waseela Microfinance Bank Limited (WMBL), subsidiary of Egypt-based telecommunications company Orascom Telecom Holding (OTH), and Mobilink, an Islamabad-based cellular service provider managed by OTH, recently received approval from the State Bank of Pakistan to offer branchless banking in the country. Continue reading

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MICROCAPITAL BRIEF: Credinka of Peru, Ugafode of Uganda, FACES of Ecuador, Agora Microfinance Zambia, ASDIR of Guatemala Borrow $4m From Triodos Investment Management

Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed loans to the following five microfinance institutions: Caja Rural de Ahorra y Credito Quillabamba (Credinka) of Peru, Ugafode Microfinance Limited of Uganda, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Agora Microfinance Zambia and Asociación de Desarrollo Integral Rural (ASDIR) of Guatemala. Continue reading

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