MICROCAPITAL STORY: Alternative Electronic Stock Exchange Platforms AVV (AESX) to Publicize Creation of Microfinance Capital Market MFDAQ at Microfinance Conference in London
Software developer AESX Platforms AVV plans to announce the creation of MFDAQ, a capital trading exchange for the share capital of microfinance institutions (MFIs). The announcement will take place at the Microfinance Conference at the London Stock Exchange on July 13, 2007 (see June 22, 2007 story),
According to the Microcredit Summit Campaign’s website, the core themes of the microcredit summit are reaching the poorest, empowering women, building financially self-sufficient institutions and ensuring a positive and measurable impact on the lives of the poor and their families. It brings together microcredit practitioners, advocates, donor agencies, heads of international financial institutions, non-governmental organizations and others involved with microcredit from around the globe to promote best practices in the field to stimulate exchanging of knowledge and facilitate work towards reaching the goals of poverty alleviation in the world.
Continue reading “MICROCAPITAL STORY: Microcredit Summit to be Hosted by Pakistan Poverty Alleviation Fund”
MICROCAPITAL STORY: India’s National Bank for Agriculture and Rural Development (NABARD) Creates New Initiative to Target Microfinance
The National Bank for Agriculture and Rural Development of India (NABARD) is launching a new arm to target the microcredit sphere in the country. The new institution, a non-banking financial company (NBFC), called Nabard Financial Services (Nabfins), will have an authorized capital of Rs 1 billion (USD 24.7 million) and an issued capital of Rs 200 million (USD 4.9 million).
Continue reading “MICROCAPITAL STORY: India’s National Bank for Agriculture and Rural Development (NABARD) Creates New Initiative to Target Microfinance”
Great Britain’s Standard Chartered Bank (SCB) Increases Loan Investments by USD 200 Million for Microfinance Worldwide
On October 2, 2006, MicroCapital reported an announcement made by UK investment bank Standard Chartered Bank (SCB): the creation a USD 500 million microfinance fund over a 2 year period. The microfinance fund was a commitment made by SCB as part of the Clinton Global Initiative in September 2006, a humanitarian effort of 139 businesses and organizations worldwide. The British bank already has a microfinance portfolio totaling USD 200 million; SCB’s total assets stand at USD 266 billion.
By George Waweru, MicroSave, 2 pages, available at http://www.microfinancegateway.com/files/40674_file_38.pdf
The author here outlines the benefits gained to microfinance institutions from branch-based marketing. He stresses the unique role that branches have the ability to play in determining potential customers and catering to current customer’s needs.
Continue reading “PAPER WRAP UP: Branch Based Marketing”
MICROCAPITAL STORY: Oikocredit Issues Shares in Local Currencies to Facilitate Microfinance in those Countries
Oikocredit, a Cooperative Investment Society based in the Netherlands, has decided at its Annual General Meeting to issue shares not only in the USD and the Euro, as they currently do, but also to expand to include other currencies as well. To start, shares will be issued in
MICROCAPITAL STORY: MicroVest Capital Management and Lehman Brothers Announce the Launch of MicroAccess Trust 2007
MicroVest Capital Management, a US-based microfinance investment firm, and global investment bank Lehman Brothers close on the MicroAccess Trust 2007. This marks the first Collateralized Loan Obligation (CLO) for MicroVest. The trust was arranged by Lehman Brothers, while MicroVest originated and services the USD 39 million portfolio of unsecured loans to microfinance institutions (MFIs) around the world.
Continue reading “MICROCAPITAL STORY: MicroVest Capital Management and Lehman Brothers Announce the Launch of MicroAccess Trust 2007″
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The Netherlands Development Finance Company (FMO) supports the private sector in developing countries and emerging markets in
FMO is divided into two business units. The first, FMO Finance, extends tailor-made financing on commercial terms to enterprises and financial institutions in developing countries. This financing can take the form of loans, equity and quasi-equity, guarantees, and syndicated loans. FMO Investment Promotion, on the other hand, caters to Dutch businesses interested in investing in developing countries and emerging markets. On behalf of the Dutch government, FMO manages several programs focused on stimulating specific activities including the delivery of capital goods, feasibility studies in the pre-investment stage and management support in the post-investment phase.
Continue reading “WHO’S WHO IN MICROFINANCE: The Netherlands Development Finance Company (FMO)”
MICROCAPITAL STORY: Sri Lankan Lanka Orix Leasing Company’s (LOLC) Move to Become a Total Financial Solutions Provider Includes Expansion into Microfinance
LOLC (Lanka Orix Leasing Company) Group, a Sri Lankan financial institution, has expanded its role as a specialized leasing operations company and has officially changed its brand name to a total financial solutions establishment, now offering customers financial solutions in working capital, fleet management services, savings and deposits, and insurance and stock broking, as well as various non-banking products.
The revamp included an acquisition of a 17.91% stake in PRASAC, a Cambodian Micro Finance institution. This investment supports the company strategy of contributing to the economic development of the Rural and Micro financing sectors, the core business areas identified for future expansion. Group strategy on supporting the SME (small and medium enterprise), Rural Agro and Micro sectors has attracted funding from local commercial banks, as well as bilateral and multilateral funding agencies, such as OPEC (Organization of the Petroleum Exporting Countries) and the Asian Development Bank, who join LOLC to develop the needy sectors of the economy.
PRESS RELEASE: World Bank Approves USD 600 Million for Government of India to Revitalize Financial Access for Poorest Farmers
NEWS WIRE: Microfinance Information Exchange and the Argentinean Microfinance Network RADIM Sign Strategic Partnership Agreement
MICROCAPITAL STORY: Permodalan Nasional Madani of Indonesia Issues USD 33 Million Worth of Bonds to Finance Microfinance Operations
PT Permodalan Nasional Madani (PNM), a state-owned enterprise in Indonesia that helps finance micro-finance institutions (MFIs), announces plans to issue bonds worth Rp 300 billion (USD 33 million) by the end of 2007. The proceeds will be lent to MFIs to allow them to provide loans for micro, small and medium enterprises (MSMEs) throughout the country.
MICROCAPITAL STORY: Bear, Stearns & Co. and SKS Microfinance’s Vikram Akula, Bring Microfinance Event to New York City on July 9, 2007
SCALING MICROFINANCE: THE SKS ACCELERATION MODEL
JULY 9, 2007, 6:30-8:30 PM, NEW YORK CITY, UNITED STATES
Bear, Stearns & Co., a US investment, trading, and brokerage company, will host this presentation led by Vikram Akula, founder and CEO of SKS Microfinance, an Indian microfinance institution (MFI). The event will focus on “the SKS Acceleration Model,” a business strategy that Mr. Akula argues has led to his company’s growth over the past several years.