Category: Latin America

MICROCAPITAL BRIEF: Compartamos Banco, Mexican Microfinance Bank, Targets Latin American Expansion by Acquisition

Compartamos Banco, a Mexican microfinance bank founded in 1990, is in the process of finding a Latin American microfinance lender to acquire. Fernando Alvarez Toca, the Chief Executive Officer of Compartamos Banco, stated that his company is planning to acquire a Latin American company in accordance with their plan for rapid expansion. Alvarez Toca names Colombia, Peru and Brazil as the primary countries they are investigating [1]. Compartamos Banco has been pursuing this avenue since November of 2009 [2]. Continue reading

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MICROFINANCE EVENT: “Microfinance Transparency Workshop on Transparent Pricing in Bolivia” From May 4 to May 6, 2010

Event Name: MFTransparency Workshop on Transparent Pricing in Bolivia

Event Dates and Locations: May 4, 2010, in La Paz, Bolivia; May 5, 2010, in Santa Cruz, Bolivia; May 6, 2010, in La Paz, Bolivia

Event Website: http://www.mftransparency.org/pages/transparent-pricing-initiative-in-bolivia

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

Cost: Free Continue reading

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MICROCAPITAL BRIEF: Credit Rating Agency Standard and Poor’s (S&P) Upgrades Mexican Microfinance Institution (MFI) Compartamos Banco

Compartamos Banco, a publicly-listed microfinance institution (MFI) based in Mexico, has been upgraded by credit rating agency Standard and Poor’s (S&P) to ‘mxAA’ and ‘mxA-1+’ for its long and short-term ratings, respectively. Compartamos Banco’s local bank bonds issued in August 2009, COMPART 09, were also upgraded to ‘mxAA’ and ‘mxA-1+’ with a ‘stable’ outlook. Continue reading

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MICROFINANCE EVENT: “MFTransparency Workshops on Transparent Pricing in Ecuador” April 27 to April 29, 2010

MICROFINANCE EVENT: “MFTransparency Workshops on Transparent Pricing in Ecuador” April 27 to April 29, 2010

Event Name: MFTransparency Workshop on Transparent Pricing in Ecuador

Event Dates and Locations: April 27, 2010, in Quito, Ecuador; April 28, 2010, in Ambato,

Ecuador; April 29, 2010, in Guyaquil, Ecuador

Event Website: http://www.mftransparency.org/pages/transparent-pricing-initiative-in-ec…

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

Cost: Free Continue reading

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MICROCAPITAL BRIEF: Zafén Begins Funding Microfinance Loans and Donations to Haiti

Zafén, a partnership of four organizations from three countries, is launching an internet portal to collect donations and fund microloans that will be disbursed to businesses and organizations in Haiti that Zafén has determined will improve the community [1]. The Vincentian Family, a non-profit charitable network operating in more than 135 countries, is funding the venture with members of the Chicago-based DePaul University faculty developing the website and lending criteria. Fonkoze, a Haitian microfinance institution established in 1995 [2], and The Haitian Hometown Associations Resource Group, an international organization representing the Haitian diaspora, are acting as advisors to the program [3]. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) and Inter-American Investment Corporation (IIC), a Member of the Inter-American Development Bank (IDB), Provide $27m in Equity to QBE del Istmo Compañía de Reaseguros, a Panama-based Reinsurance Company, to Expand into Microinsurance and Health Insurance

The International Finance Corporation (IFC), the investment arm of the World Bank, and the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) that helps small and medium-sized enterprises (SMEs) gain access to finance, will make equity investments totaling USD 27 million in QBE del Istmo Compañía de Reaseguros, a Panama-based reinsurance company, to cover new products such as microinsurance and health insurance as well as increase its capital base, improve corporate governance standards and expand operations. Continue reading

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MICROCAPITAL BRIEF: Women’s World Banking’s (WWB) Center for Microfinance Leadership and University of Pennsylvania’s Wharton School of Business Host Advanced Leadership Course

Women’s World Banking (WWB), an organization that provides technical and advisory services to its global network of microfinance institutions (MFIs), has partnered with Wharton’s Aresty Institute for Executive Education to host its first advanced leadership course for microfinance professionals in March. Continue reading

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MICROCAPITAL BRIEF: Financiera Independencia, a Mexico-based Microfinance Institution, Sells $200m in Senior Guaranteed Notes to the International Market

Financiera Independencia, a Mexico-based microfinance institution (MFI) that is listed on the Mexican Stock Exchange, has announced that it has successfully placed USD 200 million in senior guaranteed notes in the international market. Continue reading

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MEET THE BOSS: Nanno Kleiterp of the Netherlands Development Finance Company (FMO)

The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO uses loans, mezzanine financing and equity investments to invest in financial institutions and other companies in developing countries. With an investment portfolio of USD 6.5 billion, FMO is one of the world’s largest bilateral private sector development banks. FMO’s mission is to create flourishing enterprises that can serve as engines of sustainable growth in their countries. Continue reading

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MICROCAPITAL BRIEF: International Investors Launch Microfinance Growth Fund (MIGRoF), a Lending Facility for Microfinance Institutions (MFIs) in Latin America and the Caribbean

The Inter-American Development Bank’s (IDB’s) Multilateral Investment Fund (MIF), a fund that finances micro- and small enterprises (MSEs); the Inter-American Investment Corporation (IIC), a member of the IDB that helps small and medium-sized enterprises (SMEs) gain access to finance; and the Corporación Andina de Fomento (CAF), an institution that mobilizes financial resources in Latin America, recently launched the Microfinance Growth Fund (MIGRoF), a facility expected to provide the equivalent of USD 250 million in medium- and long-term loans to microfinance institutions (MFIs) in Latin America and the Caribbean. Continue reading

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MICROCAPITAL BRIEF: Changes to Brazilian Development Bank’s (BNDES’s) Microcredit Program Aims to Double Number of Disbursements and Expand Microfinance Portfolio by 50% in Next Two Years

The Brazilian Development Bank (BNDES), a federal public finance company, recently announced changes to its microcredit program that could double the number of disbursements to microfinance institutions (MFIs) and expand its portfolio by 50 percent from BRL 80 million (the equivalent of USD 44.4 million) to BRL 120 million (the equivalent of USD 66.6 million). Continue reading

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MICROCAPITAL BRIEF: MicroFinance Transparency Receives Ford Foundation Grant to Promote Transparency in Latin American Microfinance Industry

MicroFinance Transparency (MFTransparency), a US-based non-governmental organization that aims to disseminate accurate and comparable microfinance product cost information, has received a grant from the Ford Foundation to expand its work in Argentina, Bolivia, Colombia and Ecuador. Continue reading

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MICROCAPITAL BRIEF: World Savings Bank Institute (WSBI) Issues “Open Message” to Promote Access to Finance to Reach United Nation’s Millennium Development Goals (MDGs)

The World Savings Bank Institute (WSBI), an international banking association, has issued an open message promoting access to finance as a means to accelerate progress toward the United Nation’s Millenium Development Goals (MDGs). Continue reading

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MICROCAPITAL BRIEF: Elevar Equity, a Bangalore-based Private Equity Fund, Raises $70m for Microfinance-focused Fund for Investments in India, Mexico, the Philippines and Peru

Elevar Equity Advisors Private Limited (Elevar), a Bangalore-based private equity fund, has raised a USD 70 million fund that will invest in microfinance and other services in India, Mexico, the Philippines and Peru. Continue reading

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MICROCAPITAL BRIEF: Microfinance Institution (MFI) Equity Valuations Rise in 2009 as Portfolio Quality Falls, Says Report by JP Morgan and CGAP (Consultative Group to Assist the Poor)

A new report by CGAP (Consultative Group to Assist the Poor) and JP Morgan shows that despite the global financial crisis, microfinance institution (MFI) equity valuations continued to rise across all regions during 2009. Continue reading

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MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases Third Annual Global Ranking of Microfinance Institutions (MFIs)

The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its third annual ranking of microfinance institutions (MFIs), The Mix Global 100. Continue reading

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