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a government body that oversees the nongovernment microfinance institutions (NGO-MFIs) in Bangladesh, reportedly has rescinded the licenses of 46 microfinance institutions (MFIs) in the country for being in violation of “existing directives in running their operations” [1]. Continue reading

MICROCAPITAL BRIEF: Sanad Fund for MSME Lends $9m to Tunisie Leasing to Support Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), a Germany-based fund providing loans in the Middle East and North Africa, has agreed to loan EUR 7 million (USD 9.4 million) to Tunisie Leasing, a Tunisian leasing company that focuses on serving MSMEs in Tunisia and Algeria. Continue reading

MICROCAPITAL BRIEF: India’s Ujjivan Financial Services Raises Debt Capital Worth $10m Through Issuance of Non-Convertible Debentures (NCDs) to International Finance Corporation (IFC)

Ujjivan Financial Services, an Indian microfinance institution (MFI), has raised INR 60 crores (USD 10 million) debt capital by issuing listed, secured and redeemable non-convertible debentures (NCDs) to the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. Continue reading

MICROFINANCE PUBLICATION ROUND-UP: Effects of Female Leadership on Microfinance Institutions (MFIs); Impact of Microcredit in Morocco; Social Performance Management Guide

Female Leadership, Performance, and Governance in Microfinance Institutions;” by Reidar Øystein Strøm, Bert D’Espallier and Roy Mersland; published by Elsevier; 2014; 16 pages; available for purchase at http://www.sciencedirect.com/science/article/pii/S0378426614000284

This report examines the relationship between the performance of microfinance institutions (MFIs) and whether women occupy high management positions, including CEO, chair or director, in those MFIs. Continue reading

MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State

A Senator representing Ontario, Canada, recently announced on behalf of Christian Paradis, the country’s Minister of International Development and La Francophonie, that the government of Canada will be providing unspecified financial support to “a new project that will increase job opportunities and promote entrepreneurship among young people in Nigeria.” Continue reading

MICROCAPITAL BRIEF: responsAbility Loans $13m to Microfinance Institution FONDEP of Morocco

ResponsAbility Investments, a company based in Zurich that primarily invests in developing economies, recently notified MicroCapital that is has disbursed EUR 10 million (USD 13 million) in senior refinancing to Fondation pour le Développement Local et le Partenariat Micro-Crédit (FONDEP), a Moroccan MFI with the mission “to use microcredit to help women and youth create their own microenterprises and generate income.” Continue reading

MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $14m to Microfinance Institutions (MFIs) in Armenia, China, India, Peru, Tajikistan

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits in several currencies that total approximately the equivalent of USD 13.5 million to unspecified microfinance institutions (MFIs) in Armenia, China, India, Peru and Tajikistan through its Dual Return Fund-Vision Microfinance and Dual Return Fund-Vision Microfinance Local Currency. Continue reading

MICROCAPITAL BRIEF: Government-Backed Dutch Good Growth Fund Launches with $950m, Aims to Support Small, Medium-sized Enterprises (SMEs) in the Netherlands, Developing Nations

The Dutch Good Growth Fund (DGGF), a Netherlands-based loan fund that is funded with EUR 700 million (USD 947 million) from the Dutch Ministry of Foreign Affairs, has opened for business as of July 2014. Continue reading

MICROCAPITAL BRIEF: Otoritas Jasa Keuangan (OJK) to Lead Supervision of Microfinance Institutions (MFIs) in Indonesia

Otoritas Jasa Keuangan (OJK), the Indonesian government agency that regulates the country’s financial sector, reportedly has signed a cooperation agreement with the Ministry of Home Affairs, the Indonesian government agency in charge of domestic issues, and the Ministry of Cooperative and Small and Medium Enterprises, an Indonesian regulator of smaller businesses, in an effort to improve the regulation and supervision of microfinance institutions (MFIs) in Indonesia [1][2]. Continue reading

MICROCAPITAL BRIEF: AccessBank Azerbaijan Receives $15m Loan from Green for Growth Fund for Financing Energy-Efficient Projects

AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, has borrowed USD 15 million from the Green for Growth Fund, Southeast Europe (GGF), a European public-private partnership that focuses on improving energy efficiency and promoting renewable energy sources in Southeastern Europe, with the aim of increasing AccessBank’s financing of energy-efficient projects. Continue reading

MICROCAPITAL BRIEF: Gemalto, GSM Association to Provide Mobile Services to Support “Pan-African Mobile Health Initiative” for Mothers, Children

Gemalto, a publicly traded digital security firm located in the Netherlands, reportedly has announced its support of the Pan-African Mobile Health Initiative (PAMI), which uses mobile phones to address issues in nutrition and maternal and child health in seven African countries. Continue reading

MICROCAPITAL BRIEF: World Bank Group (WBG) Loans $12m, Donates $12m to Government of Mozambique for Financial Sector Reform, Including to Boost Financial Inclusion

The World Bank Group (WBG), a US-based multilateral financial institution recently approved a USD 25 million financing package consisting of a loan of USD 12.5 million and a grant of USD 12.5 million to support the “First Programmatic Financial Sector Development Policy Operation (DPO)”[1] of the government of Mozambique. Continue reading

MICROCAPITAL BRIEF: Mentors International Implements Mambu’s Cloud Banking Software to Support Lending to Small, Medium-sized Enterprises in El Salvador, Guatemala, Honduras, Peru, Philippines

Mentors International, a US-based nonprofit microfinance institution (MFI) that seeks to help poor people in developing countries become self-sufficient, recently has signed on to use the banking software of Mambu, a Germany-based technology company that offers cloud-based banking solutions. Continue reading

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Transfers Management of French-language Training to Luxembourg-based ADA, Côte d’Ivoire-based Africa Microfinance Network (AFMIN)

CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the expansion of financial access, recently has granted a mandate to manage nine of its training modules in African countries in which French is a primary language to ADA, a Luxembourg-based NGO that promotes inclusive finance, and the African Microfinance Network (AFMIN), an Abidjan-based association of 24 networks of African microfinance institutions (MFIs). Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Promoting External Advice for Small and Medium-Sized Enterprises (SMEs) in Kyrgyzstan

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, has launched an information campaign to increase awareness of “the value of external advice for small and medium-sized enterprises (SMEs)”[1] in Kyrgyzstan. Continue reading