Category: South Asia, East Asia and Pacific

MICROCAPITAL EVENT: Microcredit Summit Campaign, Microfinance Council of the Philippines to Host 2013 Partnerships Against Poverty Summit, October 9-11, 2013, Manila, Philippines

Event Name: 2013 Partnerships Against Poverty Summit

Event Date: October 9-11, 2013

Event Location: Philippine International Convention Center, Manila, Philippines

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MICROCAPITAL BRIEF: Cambodian Microfinance Institution Hattha Kaksekar Launches SmartVista E-Payment Service from BPC

Hattha Kaksekar Limited, a Cambodian microfinance institution (MFI), recently announced its launch of SmartVista, an electronic payments solution created by Banking Production Centre (BPC) Banking Technologies, a mobile technology solutions provider with offices in Asia, Europe, Latin America and Russia. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation, Bank of Shanghai Launch $80m Loan, Advisory Program Supporting Energy Upgrades for Small, Medium-sized Enterprises

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a finance facility totaling CNY 500 million (USD 80 million) to China’s Bank of Shanghai to on-lend to energy-efficiency and renewable-energy projects among small and medium-sized enterprises (SMEs) in China. Continue reading

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MICROCAPITAL BRIEF: US-Based Sequoia Capital Invests $2m in Equity in Electronic Payment Platform, Citrus Pay

Citrus Pay, a Mumbai-based digital payments service provider, and Ezetap Mobile Solutions, a Bangalore-based mobile payments service provider, have developed electronic payment platforms that address internet security and connectivity challenges, both of which have discouraged Indian consumers from using digital payment methods. Continue reading

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MICROCAPITAL BRIEF: Stree Nidhi to Loan $308m to Self-help Groups in Indian State of Andhra Pradesh in 2013

Stree Nidhi Credit Cooperation Federation Limited, a microfinance bank established by the government of the Indian state of Andhra Pradesh, recently agreed to loan INR 16.9 billion (USD 308 million) to self-help groups (SHGs) in Andhra Pradesh during the fiscal year ending March 2014. Continue reading

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MICROCAPITAL BRIEF: Royal Bank of Scotland (RBS) Sells 4.6% Stake of SKS Microfinance to Merrill Lynch Capital Markets Espana for $12m

The Royal Bank of Scotland Group (RBS), a banking and insurance company with operations in Europe, North America and Asia, reportedly has sold its 4.6-percent stake in SKS Microfinance, an Indian microfinance institution, through the open market to Merrill Lynch Capital Markets Espana, a subsidiary of US-based Bank of America. Continue reading

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MICROFINANCE PUBLICATON ROUND-UP: Drivers of Over-Indebtedness in Cambodia, Accelerating Impact Investing, Mobile Banking in Tanzania

“Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: An In-depth Investigation of Saturated Areas;” by Dannet Liv; published by BlueOrchard Microfinance Investment Management, Incofin Investment Management, Oikocredit; March 2013; 83 pages; available at: http://www.blueorchard.com/jahia/webdav/site/blueorchard/shared/Publications%20and%20Resources/News%20%26%20Press%20releases/OID-Final%20Report.pdf

This report presents an analysis of the factors that drive microfinance borrowers in Cambodia to take on excessive levels of debt. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation Places $22m Equity Investment In Ratnakar Bank of India

The International Finance Corporation, a member of the World Bank Group, has made an equity investment of USD 22 million in Ratnakar Bank, a private commercial bank in India, to promote Ratnakar’s efforts to increase access to finance for women in rural areas and agricultural micro-, small and medium-sized businesses, and is reportedly part of INR 3.2 billion (USD 59.3 million) in equity raised by Ratnakar through the issuance of 30 million new shares since January 2013. Continue reading

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MICROCAPITAL BRIEF: Muthoot Fincorp of India to Offer $19m in Non-Convertible Debentures to Fund Continued Diversification from Gold Loans to Microfinance

Muthoot Fincorp Limited, an Indian non-banking finance company (NBFC), recently announced plans to sell INR 1 billion (USD 18.6 million) in non-convertible debentures (NCBs) to fund its expansion into the small and medium-sized enterprises (SMEs) and microfinance as a means of diversifying away from gold loans. Continue reading

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MICROCAPITAL BRIEF: Insurance Regulatory and Development Authority (IRDA) of India Expands Allowable Microinsurance Agent Entity Types

The Insurance Regulatory and Development Authority (IRDA), the regulatory body of the insurance industry in India, recently issued a circular expanding the types of entities eligible to serve as microinsurance agents and clarifying existing regulations that bar multiple microinsurance agents from employing the same individuals. Continue reading

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MICROCAPITAL BRIEF: Utkarsh Raises $3.7m in Equity from Aavishkaar Goodwell, International Finance Corporation, Norwegian Microfinance Initiative

Utkarsh Micro Finance Private Limited (Utkarsh), an Indian microfinance institution (MFI), reportedly has received an INR 200 million (USD 3.7 million) equity investment from Norwegian Microfinance Initiative (NMI) Frontier Fund, which provides technical and financial support to “emerging” microfinance institutions under the management of the public-private partnership NMI; Aavishkaar Goodwell India Microfinance Development Company (AG), an Indo-Dutch for-profit investor in Indian MFIs; and the International Finance Corporation, the private-sector investment arm of the World Bank Group. Continue reading

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