FinMark Trust, a South African nonprofit, recently released the FinScope Rwanda report titled “Financial Inclusion in Rwanda 2008-2012”, which indicates a growing demand for loans in rural Rwanda.
Category: Key Players
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Make $4m Equity Investment in Vox Capital Impact Investing Fund of Brazil for Social Businesses, SMEs
The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, recently announced that it will make a USD 4 million equity investment in Vox Capital Impact Investing Fund, a Brazilian venture capital fund targeting small and medium-sized enterprises (SMEs) and start-ups that serve the low-income population, also referred to as the base of the pyramid (BoP).
MICROFINANCE PAPER-WRAP UP: “The Jipange KuSave Experiment in Kenya;” by Sarah Rotman, David Ferrand, Stephen Rasmussen; published by CGAP
By Sarah Rotman, David Ferrand, Stephen Rasmussen; published by CGAP (Consultative Group to Assist the Poor); October 2012; 4 pages; available at:http://www.cgap.org/sites/default/files/CGAP-Brief-The-Jipange-KuSave-Experiment-in-Kenya-Oct-2012.pdf
MICROCAPITAL BRIEF: Western Union, ICICI Bank, MasterCard Unveil Prepaid Card in India
Western Union, a US-based financial services and communications company; ICICI Bank, a commercial bank in India;and Mastercard, a global payments and technology company recently launched the Western Union- ICICI Bank Prepaid Card in India.
MICROCAPITAL BRIEF: Banks in Mongolia Back Movable Collateral Reforms in Effort to Boost Small and Medium-Sized Enterprise Lending
The Mongolian Bankers Association (MBA), a nonprofit association of financial institutions in Mongolia; the International Finance Corporation (IFC), the private investment arm of the World Bank Group; and the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently hosted a roundtable event to deliberate on lending reforms with respect to broadening access to finance for small and medium-sized enterprises (SMEs) and other borrowers in Mongolia.
MICROCAPITAL BRIEF: International Finance Corporation Aims to Boost Entrepreneurship in Romania with $10m Loan to Patria Credit
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, recently agreed to loan RON 36.6 million (USD 10.3 million) to Patria Credit, a non-banking microfinance institution in Romania, with the goal of enhancing access to finance for micro- and small-scale entrepreneurs in Romania.
MICROCAPITAL BRIEF: Yavuz Sariyildiz Wins CGAP (Consultative Group to Assist the Poor) Photography Contest
CGAP (Consultative Group to Assist the Poor), a US-based nonprofit, recently announced that Yavuz Sariyildiz of Turkey has won 2012 Photography Contest, which comes with a USD 2,000 gift certificate for photography equipment and accessories.
MICROFINANCE PUBLICATION ROUND-UP: Analysis of Microfinance Investment Vehicles; Female Microfinance Clients in Pakistan; Life Microinsurance in the Philippines
“The State of Microfinance Investment 2012: MicroRate’s 7th Annual Survey and Analysis of MIVs;” published by MicroRate; October 2012; 17 pages; available at: http://www.microrate.com/downloads/78
MICROCAPITAL BRIEF: Oxfam, City of London, Symbiotics Invest $1.6m in Xac Leasing of Mongolia through Small Enterprise Impact Investing Fund (SEIIF)
Oxfam UK, a UK-based charity, City of London and Symbiotics, a Swiss microfinance investment intermediary, recently launched a joint initiative known as the Small Enterprise Impact Investing Fund (SEIIF). SEIIF is intended to deliver measurable social as well as financial returns to its stakeholders by investing in small and medium-sized enterprises (SMEs) through financial intermediaries operating in developing countries.
MICROCAPITAL BRIEF: China Development Bank, China Foundation for Poverty Alleviation Partner on Microcredit
The China Development Bank (CDB), a state-owned lending institution, recently signed an agreement with the China Foundation for Poverty Alleviation (CFPA), a Chinese nonprofit organization, to support the foundation’s microcredit projects with a loan of CNY 1 billion (USD 160 million).
MICROCAPITAL BRIEF: Yunus Social Business Fund Begins Financing Small and Medium-Sized (SMEs) in Haiti
Grameen Bank founder and 2006 Nobel Peace Prize Winner Dr Muhammad Yunus recently announced the support of the Germany-based Yunus Social Business Fund for social businesses in Haiti through a mix of loans and equity.
MICROFINANCE EVENT: Opal Financial Group Offers “Clean and Green Energy Forum: Investing For a Renewable Future”, Dana Point, California, USA, December 3 – December 4, 2012
Event Name: Clean and Green Energy Forum: Investing for a Renewable Future
Event Date: December 3 – December 4, 2012
Event Location: The Ritz Carlton, Laguna Niguel, Dana Point, California, USA.
MICROCAPITAL BRIEF: Kenya to Levy 10% Tax on Mobile Money Transactions
Kenya’s government recently announced a 10-percent excise duty will be charged on fees for cash transactions executed using mobile money transfer systems.
MICROCAPITAL BRIEF: World Council of Credit Unions, Boom Financial to Offer Mobile Banking to Credit Unions Worldwide
The World Council of Credit Unions (WOCCU), a US-based trade association and support organization for credit unions, and Boom Financial, a US-based mobile banking, payments and money transfer provider, have partnered in an effort to assist credit unions worldwide in offering mobile banking services to their customers.
MICROCAPITAL BRIEF: US Agency for International Development (USAID), FINCA Jordan Launch Youth Finance Project
A Youth Finance Project intended to boost the Jordanian microbusiness environment has been launched by the United States Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance and FINCA Jordan, a microfinance institution (MFI) that is part of the US-based FINCA International microfinance network.
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Convenes Financial Inclusion Advisory Committee
The Reserve Bank of India, the country’s financial regulatory authority, recently announced the inauguration of a financial inclusion advisory committee (FIAC) under the chairmanship of the bank’s Deputy Governor K.C. Chakrabarty.
MICROCAPITAL BRIEF: Silatech of Qatar, Kiva of USA Launch Kiva Arab Youth Website to Raise Funds for Microlending
Kiva, a US-based online microlending fundraiser, has partnered with Silatech, a Qatar-based social enterprise serving youth in the Middle East, to create Kiva Arab Youth, an online platform allowing individuals to makes loans to microfinance institutions (MFIs) in the region that then on-lend the funds to aid young Arab entrepreneurs.
MICROCAPITAL BRIEF: Cooperative of Savings and Credit Duterimbere of Rwanda Requests Microfinance Institution Status
The Cooperative of Savings and Credit Duterimbere (COOPEDU), a nonprofit organization in Rwanda, is seeking to become recognized by the Central Bank of Rwanda as a microfinance institution (MFI) in an effort to increase its outreach and the range of financial services it provides to its members.