The State Bank of Pakistan (SBP), the nation’s central banking authority, recently announced the introduction of the National Financial Inclusion Strategy (NFIS), which will attempt to bring about reforms that move Pakistan toward universal financial inclusion.
Category: Transparency
MICROCAPITAL BRIEF: Social Performance Task Force (SPTF), CERISE Release Updated SPI4 Assessment Tool
The Social Performance Task Force (SPTF), a US-based nonprofit charged with addressing questions about measuring and managing social performance, and the France-based network CERISE (Comité d’Echanges de Réflexion et d’Information sur les Systèmes d’Epargne-crédit) recently released version 1.2 of SPI4, their assessment tool for the social performance of microfinance institutions.
MICROCAPITAL BRIEF: Deposit Protection Corporation Arranging Sale of MicroKing, Microfinance Subsidiary of AfrAsia Zimbabwe
The Zimbabwean Deposit Protection Corporation (DPC), recently announced that it is seeking a buyer for MicroKing Finance Limited, a microfinance subsidiary of AfrAsia Zimbabwe Holdings, which is domiciled in Mauritius.
MICROFINANCE EVENT: Microfinance Information Exchange (MIX) Market to Host Webinars on “Data Driven Social Performance Management,” May 26-27, 2015
Event Name: Webinar: Data Driven Social Performance Management
Event Dates: English-language webinars will be held on May 26, 2015, at 7:00 AM Eastern US Time and May 27, 2015, at noon Eastern US Time. A Spanish-language version of the webinar will be held on May 28, 2015 at noon Eastern US Time.
MICROCAPITAL BRIEF: University of Zurich’s Center for Microfinance (CMF) Establishes Microfinance Investment Indexes to Track Performance in EUR, USD
The Center for Microfinance at Switzerland’s University of Zurich has established two new microfinance investment indexes (MFIIs) to track the performance of microfinance investment vehicles (MIVs) [1].
MICROCAPITAL BRIEF: Foundation for International Community Assistance (FINCA) Launches Microfinance Operations in Owerri, Nigeria
The Foundation for International Community Assistance (FINCA), a US-based nonprofit microfinance network, has formally launched the operations of FINCA Microfinance Bank (FINCA MfB) in Owerri, Imo, Nigeria, following the issuance of its license by the Central Bank of Nigeria (CBN) on October 30, 2014.
MICROCAPITAL BRIEF: CDC, Creation Investments, DEG, International Finance Corporation (IFC), FMO Acquire 40% Equity Stake in India’s Equitas for $51.4m
The Commonwealth Development Corporation (CDC), which is owned by the UK government; Creation Investments Capital Management (Creation Investments), a US-based alternative investment management company; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution offering long-term project and company financing; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that they will invest a total of INR 325 cores (USD 51.4 million) to acquire 40 percent of the shares of Equitas Holdings, an Indian microfinance lender.
MICROCAPITAL BRIEF: Assets of “Several” Microfinance Institutions (MFIs) Frozen by Azerbaijani Government
An anonymous source has informed MicroCapital that several microfinance institutions (MFIs) in Azerbaijan have had their bank assets frozen by the government over the past few months.
MICROCAPITAL BRIEF: Mozido Raises $185m from MasterCard, Wellington Management, Individual Funders to Expand Operations
Mozido, a US-based mobile payment and marketing software company, recently raised USD 185 million in capital in the first round of its Series B financing to expand its mobile and payment services in Africa, China, Europe, India, Latin America and the Middle East.
SPECIAL REPORT: European Microfinance Week Participants: Transparency, Competition, Product-specific Rate Caps Can Lower Microloan Interest Rates
To open the two-day conference portion of European Microfinance Week, which is hosted by the 130-member, Luxembourg-based European Microfinance Platform (e-MFP), panelists and attendees addressed “Balancing financial inclusion, market stability and client protection.” Narda Sotomayor, who leads the Department of Microfinance Analysis at Peru’s Superintendencia de Banca, Seguros y Administradoras Privadas de Fondos de Pensiones, stated that “MFIs [microfinance institutions] moving further down market to serve new people is risky, as this group has less financial education, less collateral. An institution’s credit portfolio can deteriorate quickly unless its lending methodology is revised as part of a dynamic process.” On the issue of increasing financial capability, she added, “We find synergies between financial education and stability. This also leads to benefits for institutions and the whole system.”
MICROCAPITAL BRIEF: African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), World Bank Group (WBG) Issues Joint Statement on Climate Finance
A group of multilateral development finance institutions, the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank (IDB) and the World Bank Group (WBG), recently issued a joint statement on climate finance.
MICROCAPITAL BRIEF: Vodacom Relaunches “M-Pesa” Mobile Money System in South Africa
Vodacom South Africa, which is controlled by UK-based Vodafone Group, reportedly has relaunched its M-Pesa mobile payment system in the country.
MICROCAPITAL BRIEF: Microcredit Regulatory Authority (MRA) of Bangladesh Cancels Licenses of 46 Microfinance Institutions Claiming Misuse of Funds
The Microcredit Regulatory Authority (MRA), a government body that oversees the nongovernment microfinance institutions (NGO-MFIs) in Bangladesh, reportedly has rescinded the licenses of 46 microfinance institutions (MFIs) in the country for being in violation of “existing directives in running their operations” [1].
MICROCAPITAL BRIEF: Econet Wireless Accused of Monopolistic Practices Regarding Mobile Money Service
Econet Wireless Zimbabwe, a subsidiary of the South Africa-based telecommunications company Econet Wireless Group, reportedly is being investigated by Zimbabwe’s Competitions and Tariffs Commission (CTC), the authority charged with regulating trade in the country, over allegations of monopolistic business practices [1][2].
MICROCAPITAL PAPER WRAP-UP: “Technical Guide: Performance and Social Indicators for Microfinance Institutions;” by Sebastian von Stauffenberg, Damian von Stauffenberg, Maritza Rodriguez, Rebecca Spradlin, Antonio Bryant; Published by MicroRate
“Technical Guide: Performance and Social Indicators for Microfinance Institutions;” by Sebastian von Stauffenberg, Damian von Stauffenberg, Maritza Rodriguez, Rebecca Spradlin and Antonio Bryant; Published by MicroRate; 2014; 64 pages; available at http://www.microrate.com/media/downloads/2014/05/MicroRate_-Technical-Guide-20142.pdf
Published by MicroRate, a US-based rating agency that evaluates risk and performance of microfinance institutions (MFIs), this guide provides an outline on how to assess the quality of an MFI.
MICROCAPITAL BRIEF: Credit Rating Information Services of India Limited (CRISIL) Upgrades Rating of Evangelical Social Action Forum (ESAF) Microfinance
Credit Rating Information Services of India Limited (CRISIL), an Indian ratings, research, risk and policy advisory company, has elevated the rating of Evangelical Social Action Forum (ESAF) Microfinance, a microfinance institution (MFI) based in the Indian state of Kerala, to “mfr2.” [1][2]
MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Launches Environment, Social, Governance (ESG) Label to Certify Investment Vehicles
The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently began offering a third category of fund label for investment funds integrating Environment, Social and Governance (ESG) principles in their investment strategies.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Introduces FINclusion Lab, Offering Country-Specific Financial Inclusion Data Visualization and Analysis
The Microfinance Information Exchange (MIX), a US-based nonprofit, recently announced the launch of FINclusion Lab, a platform that provides interactive visual interpretation and analysis of country-specific data pertaining to financial services activities in Africa, Asia and Latin America [1].