Standard Chartered Bank Malaysia Bhd, in collaboration with the Credit Guarantee Corporation of Malaysia (CGC), has launched the “Portfolio Guarantee Scheme.” The plan calls for the CGC to act as a partial guarantor for the USD 29.6 million in loans that Standard Chartered plans to disburse to small and medium enterprises (SMEs) over the next 18 months [1].
Search Results for: "blue financial services"
NEWS WIRE: Kenya: Banks’ Trouble Assists Microfinance Institutions
Source: East African Standard.
MICROCAPITAL EVENT: Triple Bottom Line Investing (TBLI) 2010 Europe Conference, London, United Kingdom
Event Name: TBLI 2010 Europe Conference
Date: November 11-12, 2010
Location: Canary Wharf, London, United Kingdom
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL EVENT: Triple Bottom Line Investing (TBLI) 2010 Asia Conference, Bunkyo-ku, Tokyo, Japan
Event Name: TBLI 2010 Asia Conference
Date: May 27-28, 2010
Location: Four Seasons Hotel Tokyo at Chinzan-so
Our Comprehensive Event Calendar: https://www.microcapital.org/category/events/
MICROCAPITAL EVENT: Triple Bottom Line Investing (TBLI) 2009 Europe Conference
Event Name: TBLI 2009 Europe Conference
Date: November 12-13, 2009
Location: Amsterdam, The Netherlands, Elicium, RAI Convention Centre and Amsterdam Okura Hotel
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL STORY: Malawi Ministry of Justice and Constitutional Affairs Makes Progress in Completing Customization of Microfinance and Financial Cooperatives Bills; Efforts to Pass the Bills Could Be Hampered by Parliamentary Delays
Malawi Ministry of Justice and Constitutional Affairs, an executive branch agency responsible for the country’s legal sector, reported that work to complete customization of the Microfinance and Financial Cooperatives bills is close to an end. This progress is further confirmed by Anthony Kamanga, Principal Secretary of the Ministry of Justice, who mentioned in an interview that there was solid progress. However, Mr. Kamanga cautioned that efforts could be hampered by parliamentary processes, and added that, “the problem we always face to ensure that these draft bills see the light of the (sic) day has been working with parliament; we cannot dictate things to them…and waiting for them always leads into unnecessary delays.”
MICROCAPITAL STORY: US Private Equity Group Emerging Capital Partners Invests $28m in Financial BC SA of Togo, Parent of FINADEV, a Microfinance Institution
Emerging Capital Partners (ECP), an international private equity firm focused on investing in Africa, purchased a USD 28 million stake in Financial BC SA (FBC), a privately held Lomé, Togo-based regional commercial bank. The investment consists of common shares and convertible notes. FBC will use the funds to expand its presence through central and western Africa.
MICROCAPITAL STORY: AIG Investments Provides Equity for Nigeria’s Blue Intercontinental Micro Finance Bank
On September 18, AIG Investments (AIG), the asset management division of American International Group Inc., announced that its Global Emerging Markets Fund II LP will invest equity in the Blue Intercontinental Micro Finance Bank (BIMFB), a microfinance institution (MFI) that promotes financial services and products within Nigerian retail markets. The exact terms of the investment were not disclosed.
MICROCAPITAL STORY: Intercontinental Bank of Nigeria Partners with Nigeria’s Oyo State Government to Launch Microfinance Scheme
Intercontinental Bank Plc, a Nigerian based commercial bank, recently announced a microfinance partnership with the government of Oyo, a state in southwestern Nigeria. The Oyo government has set aside NGN 1 billion (approximately USD 8.6 million) to launch a microfinance scheme with the purpose of alleviating poverty, improving Oyo state’s current economic state and providing unbanked individuals with access to financial services. Details regarding specifics of the microfinance scheme were not released although BusinessDay Nigeria, a business print and online publication, reported that the funding would be used to establish a new microfinance bank. BusinessDay Nigeria reports that Oyo state government and Intercontinental Bank would split the equity share of the potential bank 50:50.
MICROCAPITAL STORY: The Managing Director of the Royal Trust Microfinance Bank (RTMB) Advocates Greater Collaboration between Microfinance Institutions (MFIs) and Insurance Firms in Nigeria
Speaking at the April meeting of The Nigerian Council of Registered Insurance Brokers’ (NCRIB) monthly lecture series in Lagos, Mr. Lucky Ologbo of the Royal Trust Microfinance Bank (RTMB) stated that, “since insurance brokers have numerical advantage and exist in all the nooks and crannies of the country, they are most strategically positioned to forge relationships with microfinance institutions, which also operate all over the country.”
MICROCAPITAL STORY: South African Newspaper Reports National Microfinance Legislation Increases Competition, Consolidation
South Africa’s City Press has reported that the country’s National Credit Act (NCA), introduced last June to regulate the ZAR 30 billion (USD 3.84 billion) microfinance industry, has touched off a wave of consolidations as competition heats up and existing small lenders merge with or acquire others in order to buffer their loan books.
MICROCAPITAL STORY: The International Finance Corporation (IFC) to Acquire Equity Stake in Chilean Factoring and Lending Company, Factorline
The International Finance Corporation (IFC), a member of the World Bank Group, has announced its intentions to acquire an equity stake in Factorline, the largest non-bank controlled factoring and lending firm in Chile. The IFC plans to invest up to USD 15 million to obtain an 18 percent stake in the Chilean company. This investment, along with a 2.2 billion peso (USD 4.28 million) increase in capital resulting from current shareholder activity, is expected to raise Factorline’s capital base to approximately USD 46 million by the end of September.