Event Name: Investment & Innovation in Microfinance: Africa
Event Date: September 19 to September 20, 2012
Event Location: Accra, Ghana
Event Name: Investment & Innovation in Microfinance: Africa
Event Date: September 19 to September 20, 2012
Event Location: Accra, Ghana
The Ghana Cooperative Susu Collectors Association (GCSCA), an umbrella organization of regional cooperatives of susu collectors in Ghana, has announced that 300 of its susu collector members have submitted applications under the new rules and requirements for microfinance licensing under the Bank of Ghana (BOG) [1, 2]. Traditional susu collectors serve predominantly low-income earners with access to savings and credit services.
“’Doing the Math’ with Property Insurance in Ghana;” by Barbara Magnoni, et al; published by the Microinsurance Centre; May 2012; 9 pages; available at: http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/868-milk-brief-10-qdoing-the-mathq-with-property-insurance-in-ghana.html
Nepal Rastra Bank (NRB), the central bank of Nepal, has reportedly issued a circular mandating that financial institutions permit borrowers to repay loans at the original given interest rate in the event of an increase in the interest rate.
“A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico;” by Xavier Faz and Paul Breloff; published by CGAP (Consultative Group to Assist the Poor); May 2012; 4 pages; available at: http://www.cgap.org/gm/document-1.9.57615/Brief_MexicoSegmentation.pdf
The Central Bank of Nigeria (CBN), Nigeria’s central bank, reportedly is moving to establish a special court to hear cases on loan defaults by customers of microfinance banks. According to a statement attributed to Olufemi Fabanwo, the Director of Other Financial Institutions Department of CBN, the establishment of this court is “vital to the survival of the subsector.” CBN has been working with the Department of Justice to establish these courts.
Bangladesh Finance Minister A M A Muhith reportedly has urged microfinance institutions (MFIs) to adjust their management structures to ensure that the organizations do not destabilize due to the death of a founder.
“Volume Growth and Valuation Contraction: Global Microfinance Equity Valuation Survey 2012;” by Jasmina Glisovic, et al; published by CGAP (Consultative Group to Assist the Poor) and JP Morgan; May 2012; 16 pages; available at: http://www.microfinancegateway.org/gm/document-1.9.57526/VolumeGrowth.pdf
By Robert Cull, Asli Demirgüç-Kunt, and Timothy Lyman, published by CGAP (Consultative Group to Assist the Poor), May 2012, 4 pages, available at: http://www.cgap.org/publications/financial-inclusion-and-stability-what-does-research-show-0
In conducting a set of field inspections, the Insurance Regulatory and Development Authority (IRDA), an Indian supervisory body, reportedly has detected “massive problems” in the handling of insurance by SKS Microfinance, a microfinance institution (MFI) in India.
The Royal Monetary Authority (RMA) of Bhutan, the country’s central bank, reportedly is finalizing a Financial Inclusion Policy (FIP) to enhance the country’s microfinance sector.
The National Insurance Commission (NIC) of Ghana, the regulatory authority for the country’s insurance industry, reportedly has announced a goal to increase penetration of the microinsurance market from the current 1 percent of the population to ten percent within three years.
“Diamonds No Longer Forever;” by Scott Gaul; published by Microfinance Information Exchange (MIX); April 2012; available at: http://www.themix.org/publications/microbanking-bulletin/2012/04/diamonds-no-longer-forever
The Microcredit Regulatory Authority (MRA), the supervisor of NGO microfinance institutions (MFIs) in Bangladesh, reportedly has advised MFIs to obtain permission by June 30 for sertvices offered other than microcredit.
The People’s Bank of China (PBOC), China’s central banking authority, reportedly has announced a pilot program in the city ofLishuito encourage the establishment of village banks, microcredit firms and rural credit cooperatives to expand financial services for villagers and increase agricultural production.
The Microcredit Regulatory Authority (MRA) of Bangladesh reportedly has announced that plans are in place to appoint administrators to observe troubled microfinance institutions (MFIs) in the country.
The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, reportedly has asserted that its Micro-, Small and Medium Enterprises Development fund, which is due to be launched in June, is designed for capacity building and not to bail out distressed microfinance banks (MFBs).
The Boma Project, a nonprofit organization in northern Kenya that aims to improve the ability of women to earn their own incomes, recently has become the first African organization to be certified by Grameen Foundation, a US-based nonprofit, on the Progress out of Poverty Index (PPI) Advanced Standards of Use.