During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in Continue reading
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has disbursed the following loans to Cambodian microfinance institutions (MFIs): the local-currency equivalent of USD 540,000 to Chamroeun Microfinance; a pair of transactions totaling USD 2.2 million to Angkor Mikroheranhvatho Kampuchea (AMK), which was founded by Ireland-based NGO Concern Worldwide; and USD 2.2 million to the Lanka Orix Leasing Company Micro Credit Limited (LOMC), which was formerly known Continue reading
The Central Bank of Nigeria (CBN), the country’s central banking authority, recently released a new categorization system for “Non-Interest Islamic Microfinance Banks” (NIMFBs). Such institutions operate under Islamic principles that prohibit charging interest, instead using arrangements such as the sharing of profit and loss. Continue reading
The Philippine Department of Education (DepEd) recently announced that financial literacy training will be included in the curriculum of senior high school students. Continue reading
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women. Continue reading
Marina Kortenbusch, who serves as the Head of the European Microfinance Platform (e-MFP’s) Rural Outreach and Innovation (ROI) Action Group, is the Managing Partner of Switzerland’s Business and Finance Consulting. Josien Sluijs is an e-MFP board member and Director of the Netherlands’ Platform for Inclusive Finance, which is also a member of the ROI Action Group.
MicroCapital: Why is it important to serve rural markets?
Marina Kortenbusch: In most emerging economies, the rural sector employs a large share of the working population. Developing rural markets is an effective way to boost prosperity by increasing the incomes of individuals whilst also contributing to food security, reducing environmental impact and increasing exports.
MC: What are some key differences between rural and urban markets? Continue reading
Event Name: Sixth Annual Central Asian & Caucasus Microfinance Forum
Event Dates: October 27-28, 2016
Event Location: Bishkek, Kyrgyz Republic Continue reading
CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the expansion of financial access, is seeking Continue reading
iNuka Pap Limited, a Kenyan start-up technology company that enables members of local Savings and Credit Cooperatives (SACCOs) “to conveniently deposit, withdraw and access instant micro-loans as well as access other credit services”, is one of ten early-stage financial technology firms selected to participate in the first Barclays Africa Accelerator program. Continue reading
WorldRemit, a UK-based online money transfer service, recently announced that it has launched its mobile money transfer service in Albania. Continue reading
The International Finance Corporation, a member of the World Bank Group, recently announced that it will invest up to INR 1.4 billion (USD 20 million) in Grameen Financial Services Private Limited and INR 3.4 billion (USD 50 million) in Janalakshmi Financial Services (JFS), Bangalore-based microfinance institutions (MFIs). Continue reading
The Swedish International Development Cooperation Agency (SIDA), a government organization that manages approximately half of Sweden’s budget for development aid, recently signed an agreement with Financial Sector Deepening Zambia (FSDZ), a Zambian nonprofit organization that “provides information, innovation, and impact to increase financial inclusion” local development organization that also operates in Kenya, to “build the financial capabilities of women and youths and reduce the gender gap” as well as to increase financial inclusion in Zambia. Continue reading
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs), recently informed MicroCapital that it is loaning the local-currency equivalent of EUR 380,000 (USD 422,000) over three years to Continue reading
Invitation for Expressions of Interest: Pre-qualification of candidates for full investment management services and/or distribution services for the Africa Agriculture and Trade Investment Fund, deadline: 19 August 2016 at 15:00 Central European Time.
The Africa Agriculture and Trade Investment Fund is an innovative public-private partnership established with the objective to realise Africa’s agricultural potential for the benefit of the poor by improving food security and providing additional employment and income to farmers, entrepreneurs and labourers. The Fund provides patient and responsible financing Continue reading
TPG Growth, a subsidiary of the private equity firm TPG, recently announced its intention to purchase a 40-percent equity stake in One Network Bank (ONB), a rural subsidiary of Banco de Oro Unibank (BDO), a Philippines-based commercial bank. Continue reading
The Tanzania Communications Regulatory Authority (TCRA) recently launched a Mobile Money Monitoring (M3) platform, a technology-enabled tool that monitors mobile money services in Tanzania. Continue reading
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 1.2 million (USD 1.3 million) to Continue reading
IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt. Continue reading