MICROFINANCE EVENT: USAID Online Discussion on Economic Recovery Standards in Crisis Areas

MICROCAPITAL STORY: Worker’s Strike at Tanzania’s National Microfinance Bank (NMB)

Workers at Tanzanian’s National Microfinance Bank (NMB) have gone on strike after not receiving a lump sum benefit payment that was supposed to be paid to NMB by the government after an initial round of privatization in 2005. NMB’s management, who describe the strike as “illegal,” contends that the bank cannot pay the lump sum to workers because the government is yet to finalize the payment to NMB. The workers are represented by the Tanzania Union of Industrial and Commercial Workers (TUICO). Continue reading

MICROCAPITAL STORY: Financiera Independencia’s (FINDEP) Managerial Change brings Investment Experience to its Microfinance Lending Services.

Financiera Independencia, a microfinance lending firm based in Mexico, has appointed Didier Mena Campos as its new Chief Financial Officer (CFO). Mr. Mena Campos’ previous experience includes seven years at Credit Suisse Mexico, an expansive branch of the multiservice bank which holds USD 355.5 million total assets in the country. As Managing Director, he was co-responsible of investment banking in Central America and parts of Mexico, as well as strategic partnerships and mergers among larger financial institutions such as HSBC and GE Money. Continue reading

MICROCAPITAL STORY: Commercial Insurance Companies Partner, including TATA AIG Life and Royal Sundaram, with Microfinance Institutions (MFIs) such as SKS India and Basix to Provide Microinsurance to the Rural Poor in India

The Economic Times recently reported on the growing trend of partnerships between commercial insurance companies and microfinance institutions. The insurance companies cite “saving infrastructure costs” and “creating distribution channels” as economic motivators for working with MFIs. Companies involved in such partnerships include SKS India, Bhartiya Samruddhi Finance Limited (Basix), Royal Sundaram Alliance Insurance and TATA AIG Life. Continue reading

MICROFINANCE EVENT: President Clinton to Host 2008 Clinton Global Initiative Annual Meeting



President Clinton will host the fourth annual meeting of the Clinton Global Initiative (CGI), an event which will cover the topics of Education, Energy and Climate Change, Global Health, and Poverty Alleviation.

The program will assemble together more than 130 global leaders from the business, government, academia, science, religion, and non-governmental organizations. CGI is a meeting for participants to design and implement practical solutions to issues of worldwide concern.

Among participants confirmed to be in attendance are UN Secretary General Ban Ki-moon, Bill Gates, Queen Rania, Gordon Brown, Hamid Karzai, Al Gore, Barack Obama, John McCain, and Muhammad Yunus.

For more information regarding the event, please visit the event website here.

MICROCAPITAL STORY: Microfinance Information Exchange (MIX) Releases Reports With Central American Microfinance Network REDCAMIF and Azerbaijan Micro-finance Association

The Microfinance Information Exchange (MIX) has released two benchmarking reports in conjunction with local partners – one with REDCAMIF covering Central America and one with the Azerbaijan Micro-finance Association (AMFA) covering that country. Continue reading