The Sierra Leone Association of Commercial Banks (SLACB); the Central Bank of Sierra Leone (BSL, in French); and Sasikom Capital Partners, a private consulting firm, have created a partnership to promote financial inclusion in Sierra Leone through a national survey and public engagement campaign.
Category: Trends/Challenges
MICROCAPITAL BRIEF: Multilateral Investment Fund Places $5m in Equity in Fund for Mexican SMEs
The Multilateral Investment Fund (MIF), an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB), has made a USD 5 million equity investment in Mexico Development Fund I (MDF-I), a venture capital fund focused on small and medium-sized Mexican businesses providing education, financial or retail services. MDF-I is managed by PC Capital Partners, a financial services firm based in Mexico.
MICROCAPITAL BRIEF: Securities and Exchange Board of India (SEBI) Seeks Comment on “Massive Campaign” Proposed as part of Draft National Strategy for Financial Education
The Securities and Exchange Board of India (SEBI) has proposed a draft National Strategy for Financial Education.
MICROCAPITAL BRIEF: Peer-to-Peer Microlending Service, Zidisha, Reaches $300k in Loans Facilitated Since 2009
Zidisha, a US-based nonprofit microlending service, reached the milestone of USD 300,000 raised for 500 different businesses on July 18, 2012.
MICROFINANCE EVENT: Opal Financial Group Presents “European Alternative & Institutional Investing Summit,” October 1-3, 2012, Le Meridien Beach Plaza, Monte Carlo, Monaco
Event Name: European Alternative & Institutional Investing Summit
MICROCAPITAL BRIEF: Indian Janalakshmi Financial Services Offers JanaOne “One-Stop” Shopping to Long-Term Customers
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.
MICROCAPITAL BRIEF: Myanmar Caps Microloan Interest Rates at 17%, Germany’s Savings Bank Foundation for International Cooperation (SBFIC), Philippine’s CARD Fund Mingalar Myanmar, Myanmar Egress Microfinance Projects
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.
MICROCAPITAL BRIEF: Rafiki Deposit Taking Microfinance of Kenya Launches Home Mortgages
Rafiki Deposit Taking Microfinance, a microfinance institution in Kenya, has introduced a mortgage product in an effort to address the demand for housing among low- and middle-income Kenyans.
MICROCAPITAL BRIEF: Nigerian Stock Exchange Lists Fortis Microfinance Bank with Market Capitalization of $50m
Fortis Microfinance Bank, headquartered in Abuja, Nigeria, has joined the Nigerian Stock Exchange, increasing the exchange’s market capitalization by NGN 8.15 billion (USD 50.8 million).
MICROCAPITAL BRIEF: Microloans in Namibia Grew an “Alarming” 34% in 2011 to $183m
According to a report attributed to the Namibia Financial Institutions Supervisory Authority (NAMFISA), a regulatory body under the Namibian Ministry of Finance, microloans disbursed in Namibia grew by 34 percent during 2011, reaching a total amount of NAD 1.5 billion (USD 183 million).
MICROFINANCE PAPER WRAP-UP: “Microfinance Banana Skins 2012: The CSFI Survey of Microfinance Risk;” by David Lascelles and Sam Mendelson; published by the Centre for the Study of Financial Innovation (CSFI)
By David Lascelles and Sam Mendelson, published by the Centre for the Study of Financial Innovation, July 2012, 50 pages, available at: http://www.citigroup.com/citi/microfinance/data/news120628.pdf
MICROFINANCE PUBLICATION ROUND-UP: Financial Advisors on Sustainable Investing; Risk Management in Microfinance; Supply-Side Financial Inclusion Data
“Gateways to Impact: Industry Survey of Financial Advisors on Sustainable and Impact Investing;” published by Calvert Foundation; June 2012; 14 pages; available at: http://www.gatewaystoimpact.org/images/gatewaystoimpact.pdf
MICROFINANCE EVENT: Asia Insurance Review Presents “6th Asia Conference on Microinsurance: Microinsurance as a Growth Catalyst for Insurance to Reach Out to the Masses”, July 24-25, 2012, Manila, Philippines
Event Name: 6th Asia Conference on Microinsurance, “Microinsurance as a Growth Catalyst for Insurance to Reach Out to the Masses”
MICROCAPITAL BRIEF: Indonesia: Banks Introduce Rabu Microsavings Program at Indonesian Banking Expo (IBEX)
The Rabu Program (meaning “to save diligently”) was introduced recently at the Indonesian Banking Expo (IBEX), a conference focusing on financial inclusion.
MICROFINANCE EVENT: Global Risk Forum Presents “4th International Disaster and Risk Conference: Integrative Risk Management in a Changing World – Pathways to a Resilient Society” and “Business Continuity through Integrative Risk Management”, August 26 – 31, 2012, Davos, Switzerland
Event Name: Fourth International Disaster and Risk Conference: Integrative Risk Management in a Changing World – Pathways to a Resilient Society and Post-conference: Business Continuity through Integrative Risk Management – Prepare for the Unexpected in Times of International Crisis
Event Date: August 26 to August 31, 2012
Event Location: The Davos Congress Centre, Davos, Switzerland
MICROFINANCE EVENT: Hanson Wade Presents “Investment & Innovation in Microfinance: Africa”, September 19 – 20, 2012, Accra, Ghana
Event Name: Investment & Innovation in Microfinance: Africa
Event Date: September 19 to September 20, 2012
Event Location: Accra, Ghana
SPECIAL FEATURE: Absolute Portfolio Management Interviews CEO Nurhayrah Sadava of Microfinance Institution Thaneakea Phum in Cambodia (TPC) Regarding Client Protection Principles
The following text is re-posted with permission from Absolute Portfolio Management.
The microfinance industry has taken big steps forward in the last couple of years to better serve their clients. The Client Protection Principles for microfinance and the accompanying Smart Campaign have been introduced to protect clients, businesses, and the industry as a whole.
Austrian based asset manager Absolute Portfolio Management (APM) offers two “Dual Return – Vision Microfinance” funds, endorses the Smart Campaign and has incorporated the client protection principles into their investment criteria and due diligence. However, APM wanted to double-check how the Principles are employed at the microfinance institutions that the Vision Microfinance funds invest in.
MICROFINANCE EVENT: ILO’s Microinsurance Innovation Facility Presents “Interactive Launch of the Microinsurance Compendium: ‘Protecting the Poor,’ Volume II”, July 3, 2012, Geneva, Switzerland, and Online
Event Name: Interactive Launch of the Microinsurance Compendium, Volume II
Event Date: July 3, 2012, 16:00 – 18:30
Event Location: International Labour Organization Library, Geneva, Switzerland, and Online