Mennonite Economic Development Associates (MEDA), a Canada-based nonprofit that aims to alleviate poverty through financial investment via 227 partner institutions in 56 countries, and its Morocco division, MEDA Maroc, are launching the “Financial Solutions Youth” project in an effort to support Moroccan microfinance institutions (MFIs) in improving access to financial services for youth.
Category: Trends/Challenges
MICROFINANCE PUBLICATON ROUND-UP: Drivers of Over-Indebtedness in Cambodia, Accelerating Impact Investing, Mobile Banking in Tanzania
“Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: An In-depth Investigation of Saturated Areas;” by Dannet Liv; published by BlueOrchard Microfinance Investment Management, Incofin Investment Management, Oikocredit; March 2013; 83 pages; available at: http://www.blueorchard.com/jahia/webdav/site/blueorchard/shared/Publications%20and%20Resources/News%20%26%20Press%20releases/OID-Final%20Report.pdf
This report presents an analysis of the factors that drive microfinance borrowers in Cambodia to take on excessive levels of debt.
MICROCAPITAL BRIEF: Ghana Association of Microfinance Companies, Star Microinsurance to Help Microbanks Offer Insurance
Ghana Association of Microfinance Companies (GAMC), an association with 560 member microfinance institutions (MFIs), and Star Microinsurance Services Limited, a Ghana-based insurance provider that serves approximately 550,000 clients, recently signed a memorandum of understanding regarding the provision of microinsurance products to clients of various MFIs.
MICROCAPITAL EVENT: Microlumbia’s 6th Annual Microfinance Conference, May 3, 2013, New York City, USA
Event Name: Microlumbia’s 6th Annual Microfinance Conference
Event Date: May 3, 2013
Event Location: Faculty House, Columbia University, 64 Morningside Drive, New York, New York, US
MICROCAPITAL BRIEF: Microfinance Information Exchange Updates Online Funding Structure Database
The US-based nonprofit Microfinance Information Exchange (MIX) has updated its database on the debt owed by microfinance institutions (MFIs) to include 2011 data from 700 MFIs.
MICROCAPITAL BRIEF: Democratic Republic of Congo Fights Corruption by Paying 1m Civil Servants via Mobile Banking
Since Prime Minister Augustin Matata Ponyo vowed in 2012 to replace all cash wage payments in the hopes of minimizing corruption, the Democratic Republic of Congo (DRC) has issued wage payments to 270,000 of 1 million civil servants via mobile banking.
MICROCAPITAL BRIEF: Nigeria’s Mutual Benefit Assurance Plc. Establishes Microfinance Bank In Effort to Drive Microinsurance
Mutual Benefit Assurance Plc, a Nigeria-based provider of insurance and other financial services, recently announced that it has established a microfinance bank (MFB) to promote its microinsurance offerings, which carry premiums as low as NGN 50 (USD 0.30) per three day period covering up to NGN 100,000 (USD 600) in hospital expenses and in the event of loss of life.
MICROCAPITAL BRIEF: Younger People in Kenya More Open to “Game Changer” of Buying Investment, Insurance Products by Mobile Phone
In July 2012, Old Mutual Kenya (OMK), a Nairobi-based investment subsidiary of UK-based Old Mutual Group, launched i-Invest, a platform that offers investment products that can be purchased via M-Pesa, a service of a Kenya-based mobile operator Safaricom.
MICROCAPITAL BRIEF: Thai Credit Retail Bank Switches Focus to Microfinance
Thai Credit Retail Bank (TCRB), a Thai bank that offers financial services to small and medium-sized enterprises (SMEs) and retail customers, recently restructured to focus on the microfinance sector.
MICROCAPITAL BRIEF: Caspian Advisors Launches $40m Caspian Impact Investments (CII) Fund for Microfinance, Affordable Housing, Agriculture
Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture.
MICROCAPITAL BRIEF: Alliance for Financial Inclusion Launches African Mobile Phone Financial Services Policy Initiative (AMPI)
The Alliance for Financial Inclusion (AFI), a Thailand-based network of financial policymakers from approximately 85 countries, recently launched the African Mobile Phone Financial Services Policy Initiative (AMPI), which will aim to address barriers to the “uptake of mobile financial services” in Africa.
MICROFINANCE PAPER WRAP-UP: “Why People Do Not Buy Microinsurance and What Can We Do About It;” by Michal Matul, Aparna Dalal, Ombeline De Bock and Wouler Gelade; published by Microinsurance Innovation Facility
By Michal Matul, Aparna Dalal, Ombeline De Bock and Wouler Gelade, published by Microinsurance Innovation Facility, February 2013, 31 pages, available at: http://www.ilo.org/public/english/employment/mifacility/download/mpaper20_buy.pdf
This paper published by the Microinsurance Innovation Facility, a Switzerland-based initiative of the UN’s International Labour Organization, examines the “determinants of demand” for microinsurance products in the developing world and looks at why, despite its potential to mitigate risk, the demand for microinsurance is low.
MICROCAPITAL BRIEF: Rockefeller, Tony Elumelu Foundations Launch “Impact Economy Innovations Fund” for Africa
The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa.
MICROFINANCE PUBLICATION ROUND-UP: Social Performance in Nepal, Sharia-Compliant Financial Inclusion, Private Sector Employment
“State of Social Performance in Nepal;” by Mike Krell; published by Microfinance Information Exchange (MIX); March 2013; 10 pages; available at http://www.themix.org/publications/mix-microfinance-world/2013/03/Nepal-development-2013
This report from the US-based nonprofit Microfinance Information Exchange (MIX) examines the social performance (SP) of microfinance institutions (MFIs) in Nepal.
MICROCAPITAL BRIEF: Nigeria Deposit Insurance Corporation to Bailout Microfinance Institutions, Primary Mortgage Banks
The Nigeria Deposit Insurance Corporation (NDIC), a quasi-independent agency of the federal government that insures deposit-taking financial institutions, recently announced that it will grant an undisclosed amount of financial assistance to distressed microfinance banks (MFBs) and primary mortgage banks (PMBs) recently closed by the Central Bank of Nigeria (CBN).
MICROCAPITAL BRIEF: China Microfinance Institution Association (CMIA) to Introduce Credit Rating System for Microfinance Institutions As Early As July 2013
The China Microfinance Institution Association (CMIA), an organization that advocates for the interests of 92 domestic member microfinance institutions (MFIs) covering 27 provinces, plans to introduce a credit rating system to evaluate MFIs as early as July.
MICROFINANCE PAPER WRAP-UP: “Microinsurance in Ghana: Microinsurance as a Means of Insurance Sector Development;” by Jan Meissner; published by the National Insurance Commission (NIC), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)
By Jan Meissner; published by Ghana’s National Insurance Commission (NIC) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ); 2013; 243 pages; available at: http://www.microfinancegateway.org/gm/document-1.9.61118/Promoting%20Microinsurance%20in%20Ghana_Full%20Book.pdf
This book analyzes potential ways to enhance the development of the microinsurance sector in Ghana, providing an overview of inclusive financial market development in the country as well as a series of recommended best practices for microinsurance development.
MICROCAPITAL BRIEF: NGOs, Government Unite In Effort to Increase Savings Group Membership to 50m Worldwide by 2020
A group of government and nonprofit organizations recently launched “50 by 2020,” an initiative with the goal of increasing the number of savings group members worldwide from 7.5 million to 50 million by 2020.