Monday, July 30, 2012
Paga, a Nigerian money-transfer service that was launched in February 2011, has received new equity investments both from its previous investor, Goodwell West Africa Microfinance Development Company, a branch of Dutch company Goodwell Investment, and from new investors Adlevo Capital, a Mauritius-based private equity fund manager; Omidyar Network, a US-based nonprofit investment firm; Acumen Fund, a US nonprofit venture fund; and Capricorn Investment Group, a privately owned, US-based investment manager. Continue Reading »
Monday, July 30, 2012
Future Generali India, a private general insurance company, reportedly has created a microinsurance product targeted at rural business owners in India. The policy, called Future Sampoorna Suraksha, covers certain assets and liabilities of a business, such as produce, pump sets and furniture. Continue Reading »
Sunday, July 29, 2012
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) are reportedly in the process of designing an insurance mechanism to protect customers of mobile payment operators. Continue Reading »
Friday, July 27, 2012
In June, responsAbility Social Investments AG, a Swiss investment company, made debt investments totaling USD 7.8 million in ProCredit Moldova, a subsidiary of Germany’s ProCredit Group. As of 2011, ProCredit Moldova has assets totaling USD 150 million, USD 117 million in loans outstanding, return on equity of 8.8 percent and USD 43.6 million customer deposits. Continue Reading »
Friday, July 27, 2012
Event Name: European Alternative & Institutional Investing Summit Continue Reading »
Friday, July 27, 2012
The Minister of Planning and International Cooperation of Jordan, J’afaar Hassan, recently met with a group of microfinance practitioners as part of the operational plan of the country’s national strategy for the microfinance sector. Continue Reading »
Friday, July 27, 2012
Pawnshops, pharmacies and other storefronts are increasing financial inclusion in the Philippines by offering services such as bill payment and remittances. Continue Reading »
Thursday, July 26, 2012
Accion, a US-based nonprofit organization, recently made an equity investment of USD 1.9 million in CrediConfia, a microfinance institution (MFI) providing financial services to microentrepreneurs and low-income households in rural and semi-urban areas of east-central Mexico. Continue Reading »
Thursday, July 26, 2012
Janalakshmi Financial Services, an Indian microfinance institution based in Bangalore, recently launched the JanaOne initiative, aimed at providing customers a “one-stop-shop” for all their financial needs. Continue Reading »
Thursday, July 26, 2012
The nonprofit AlHuda Centre of Islamic Banking and Economics (CIBE) of Pakistan recently launched the Centre of Excellence on Islamic Microfinance in order to provide Shariah guidance and capacity building to microfinance institutions (MFIs). Continue Reading »
Wednesday, July 25, 2012
Two services of Bermuda-based mobile phone network provider Digicel Group, Tcho Tcho Mobile and Voila’s T-Cash, will share an award of USD 3.2 million from the Haiti Mobile Money Initiative (HMMI), a competition developed by the Haiti Integrated Finance for Value Chains and Enterprises (HIFIVE) incentive fund that provides prize money from the US-based Bill and Melinda Gates Foundation and the US Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance. Continue Reading »
Wednesday, July 25, 2012
Sparkassenstiftung fuer internationale Kooperation (Savings Bank Foundation for International Cooperation, SBFIC), a development organization that finances microfinance institutions (MFIs), and the Centre for Agriculture and Rural Development (CARD), an MFI in the Philippines, recently signed deals to begin microfinance projects with Mingalar Myanmar and Myanmar Egress, two NGOs in Myanmar. Continue Reading »
Wednesday, July 25, 2012
All adults in the Ernakulem district of the Indian state of Kerala reportedly are expected to have bank accounts by September as a result of a campaign by banks in the district to have those excluded from banking services, access bank accounts, credit, remittance services and microinsurance policies. Continue Reading »
Wednesday, July 25, 2012
Sthreenidhi, an apex cooperative credit society set up in 2011 by the government of the Indian state of Andhra Pradesh, reportedly will disburse INR 450 crore (USD 81.6 million) for livelihood promotion and education and skill development loans. Continue Reading »
Tuesday, July 24, 2012
Two microfinance professionals in the Indian state of Andhra Pradesh reportedly have committed suicide after their microfinance institutions (MFIs) became insolvent. Continue Reading »
Tuesday, July 24, 2012
The State House of Assembly of the Nigerian state of Bauchi has reportedly passed a resolution creating a ministry for the promotion of microfinance institutions (MFIs). Continue Reading »
Monday, July 23, 2012
The Agribusiness Initiative (aBi) Trust, a nonprofit in Uganda that supports private-sector agriculture, has contributed UGX 149 million (USD 60,000) to Masaka Microfinance Development Cooperative (MAMIDECOT), a Ugandan microfinance institution (MFI), for the establishment of a new branch in the Bukunda trading centre in Rakai, the district that neighbors Masaka to the west. Continue Reading »
Monday, July 23, 2012
The Overseas Private Investment Corporation (OPIC), a US government agency that works with private-sector firms in the US to invest in emerging markets, has selected GATE (Global Alternative Trading Engine) Impact, a New York-based financial services company, to establish the Impact Investment Platform for the Enterprise Development Network, an OPIC effort intended to help finance and otherwise support small and medium-sized enterprises (SMEs) doing business in emerging markets overseas. Continue Reading »
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