MICROCAPITAL STORY: Bangladesh-based ASA to Allocate Funds from Historic $150m Equity Deal Toward Microlending Outside Bangladesh

ASA International, a holding company managed and partially owned by ASA, one of Bangladesh’s largest NGOs, has announced it will use USD $150 million of equity raised from foreign investors to expand commercial lending outside Bangladesh. Continue reading

MICROFINANCE EVENT: Fifth European Microfinance Network (EMN) Annual Conference to Be Held in France, September 2008

FIFTH EUROPEAN MICROFINANCE NETWORK ANNUAL CONFERENCE

SEPTEMBER 8 – SEPTEMBER 10, 2008, NICE, FRANCE

This event, subtitled “Microfinance: A tool for growth and employment in Europe” will gather bankers, researchers, practitioners, investors, local government and European Commission representatives, policy makers, the private sector and the media. The conference is co-organised by the European Microfinance Network (EMN) and nonprofit Adie and is sponsored by the European Commission and Crédit Coopératif. Key elements of the event are to include sessions co-organised with banking thinktank Eurofi and discussion of the recent “European Initiative for the Development of Microcredit in Support of Growth and Employment” of the European Union. Continue reading

MICROCAPITAL STORY: Financial Times Releases Sustainable Banking Report, Including Many Microfinance Articles

The Financial Times today released a special report on sustainable banking that can be downloaded free of charge. The report website highlights the following articles that appear in the report:

  • Retreat to bottom line not an option
  • Surviving the credit squeeze will not stop the drive to sustainability, says John Willman
  • Europe’s emerging economies: Investors blowing hot and cold on the Baltic Continue reading

MICROCAPITAL STORY: Akiba Commercial Bank of Tanzania to Receive a Total of $5.2m in Capital from Accion Investments in Microfinance, the Hivos-Triodos Fund Foundation, Incofin, Inter-Consult, the Netherlands Development Finance Company, the Parastatal Pension Fund, the Triodos-Doen Foundation, and 70 Private Tanzanian Individuals

Based in Dar Es Salaam, Tanzania, Akiba Commercial Bank (ACB) will receive a total of USD 5.2 million in a capitalization program which includes investments from ACCION Investments in Microfinance (ACCION Investments), the Hivos-Triodos Fund Foundation (HTF), Incofin, Inter-Consult, the Netherlands Development Finance Company (FMO), the Parastatal Pension Fund (PPF), the Triodos-Doen Foundation (TDF), and nearly 70 private Tanzanian individuals. The capitalization effort is coupled with a contract between ACB and ACCION International (ACCION) in which the latter of the two will provide short-term technical assistance and a senior management team. Continue reading

MICROCAPITAL STORY: Ugandan Microfinance Minister Emphasizes Provision of Agricultural Finance in the Region

In a closing speech at the annual general meeting of the Association of Microfinance Institutions of Uganda (AMFIU), Ugandan Minister of Microfinance, General Salim Saleh stated “Provision of agricultural finance is the actual bullet that will kill poverty“. The minister continued that before financial provision could aid the agricultural sector, the National Agricultural Advisory Services (NAADS) should provide advice and technical assistance to farmers to prevent crop failures and other problems that could cause delay or failure of loan payments, emphasizing “appropriate funding to worthwhile agricultural projects.” Continue reading

MICROCAPITAL STORY: The Government of Ghana Loans GHS 300,000 (USD 303,797) to Entrepreneurs in Upper West Region through MASLOC, the Micro-finance and Small Loans Centre

The Ghanaian Government recently loaned GHS 300,000 (USD 303,797) via its Micro-finance and Small Loans Centre (MASLOC). The GHS 300,000 was divided into loans of between GHS 2,500 (USD 2,532) and GHS 3,000 (USD 3,038), to be distributed to 164 groups of the Upper West Region of Ghana. The loans were given to groups throughout each district of the region. The government aims at providing for both small business and farming activities of 2,270 individuals. Continue reading

MICROCAPITAL STORY: Ecobank Looks to Close Deal for 75 Percent Interest in East African Building Society (EABS) with Aim to Focus on Microfinance, Mortgage Finance and Investment Banking

Ecobank, an African regional banking group, is currently in the process of closing a deal in Kenya to acquire a 75 percent interest in Kenya’s East African Building Society (EABS) bank. In order to close the deal, and begin transactions, Ecobank must wait for official legalization. The deal’s value is estimated to total the equivalent of USD 19.3 million. Continue reading

MICROCAPITAL STORY: Swiss responsAbility Loans $6.4m to Eastern European and Central Asian Microfinance Institutions

CGAP (Consultative Group to Assist the Poor) recently reported that responsAbility Global Microfinance Fund (rAGMF) made loans to several Eastern European and Central Asian microlenders: USD 221,112 to Mikro Aldi, USD 400,000 to HUMO, USD 737,040 to AgroInvest, USD 1,000,000 to Kompanion, USD 1,000,000 to Constanta, USD 1,500,000 to Bai Tushum and USD 1,500,000 to Eskhata Bank. Continue reading

MICROCAPITAL EVENT: The John F. Kennedy Presidential Library and Museum (JFK Library) Will Host a Conversation with Microfinance Pioneer, Dr. Muhammad Yunus

A Conversation with 2006 Nobel Peace Prize Laureate Dr. Muhammad Yunus

2:30 PM – 4:30 PM, June 7, 2008, John F. Kennedy Presidential Library and Museum, Boston, Massachusetts

As a part of its series of public affairs forums, the John F. Kennedy Presidential Library and Museum (JFK Library) will host Dr. Muhammad Yunus for a discussion about his book, Creating a World Without Poverty: Social Business and the Future of Capitalism to be moderated by Dr. Lincoln C. Chen, the founder of the Global Equity Initiative (GEI) at Harvard University and a Commissioner at the Commission on Human Security (CHS). The event will include a question and answer session with the audience followed by a book signing. The forum is free and open to the public and registration is required to guarantee a seat. Those interested may register online or by calling +1 (617) 514-1643. Continue reading