US-based Route One Fund I LP recently spent approximately INR 990 million (USD 15.4 million) to purchase 0.88 percent of the shares of Bharat Financial Inclusion, a for-profit non-banking microfinance institution (MFI) in India, via an open market transaction.
M M Attanayake, the president of the 71-member Lanka Microfinance Practitioners’ Association (LMFPA), recently urged policymakers to amend existing law to allow microfinance institutions (MFIs) to offer microinsurance.
Ghana-based AgroCenta recently won USD 20,000 in the Fincluders Startup Challenge, which was created to support new companies seeking to increase financial inclusion.
Telkom Kenya, a telecommunications provider in Kenya, recently announced that July 4 will be the last day it will offer the mobile money service Orange Money.
The US-based Ford Foundation recently announced plans to disburse USD 1 billion in “mission-related investments” with initial foci on access to financial services in developing countries and affordable housing in the US.
The executive committee of US-based nonprofit CGAP (Consultative Group to Assist the Poor) recently elected Carolina Trivelli to be its new chair as of June 30.
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently announced it will loan USD 20 million to Khushhali Microfinance Bank Limited of Pakistan to “expand access to credit for agriculture-related borrowers and small businesses.”
Vodacom, a unit of UK-based Vodafone Group Plc that provides mobile communications services to 61 million subscribers in Africa, is paying Vodafone ZAR 34.6 billion (USD 2.6 billion) for a 34.94-percent stake in Safaricom, a Kenyan mobile network operator.
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan USD 2 million in local currency to Microfund for Women (MFW), a microfinance institution in Jordan, to support female entrepreneurs in that country.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently indicated that it intends to lend USD 25 million to Turkey’s Yapi Kredi Leasing, “the largest subsidiary of Yapi Kredi Bank.”
Belgium’s Incofin Investment Management (Incofin IM) recently informed MicroCapital that three of its funds, Incofin CVSO, Volksvermogen and Rural Impulse Fund I, have sold their stakes in Financiera Confianza, a Peruvian microfinance institution (MFI) affiliated with Fundacion BBVA MicroFinanzas, which in turn was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 2007. While the sizes and prices of the stakes, which included all Confianza shares held by Incofin IM funds, remain confidential, Incofin IM reports that the funds earned “over
Event Name: GSG Impact Summit 2017
Event Date: July 9 – July 12, 2017
Event Location: Sheraton Grand Chicago; Chicago, Illinois, USA
Summary of Event: This event will address the state of the impact investment sector and strategies for creating further impact. Session topics will include influencing government policy
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently announced it will loan EUR 40 million (USD 44.9 million) to Union Internationale de Banques (UIB), a Tunisian bank, to support small and medium-sized enterprises’ (SMEs’) “lending activities and expand access to finance for underserved
“Annual Impact Investor Survey 2017, The Seventh Edition;” by Abhilash Mudaliar, Hannah Schiff, Rachel Bass, Hannah Dithrich; published by the Global Impact Investing Network (GIIN), May 2017, 84 pages, available at https://thegiin.org/knowledge/publication/annualsurvey2017
The authors of this paper discuss the results of primary and secondary research on the latest trends and challenges of the impact investment sector, which they define as investments that “target social and / or environmental impact objectives”.
South African technology firm AxMe International Services recently expanded its SureBüddy insurance application to Uganda, allowing users in that country to view advertisements in return for no-cost insurance for their mobile phone screens.
Event Name: Financial Inclusion Innovation Summit 2017
Event Date: August 29 – 31, 2017
Event Location: Stanley Hotel, Port Moresby, Papua New Guinea
Summary of Event: Previously known as Pacific Microfinance Week, this summit will address topics such as wealth creation, accelerating access to finance for small and medium-sized enterprises, how to ensure customer needs are being met
The MasterCard Foundation, which is based in Canada, is accepting applications through June 5 for its 2017 “Clients at the Centre” Prize, which includes a cash award of USD 150,000.
Event Name: Third Sankalp Southeast Asia Summit 2017: Local Problems, Global Solutions
Event Date: September 19 – September 20, 2017
Event Location: Hotel Bidakara; Jakarta, Indonesia
Summary of Event: The focus of the summit is to “strengthen Southeast Asia’s entrepreneurship ecosystem,” and the theme of this year’s iteration is “Local Problems, Global Solutions.” Discussions will address topics such as policy, health, energy, financial services and agriculture.