Développement international Desjardins (DiD), a Canadian nonprofit supporting the community finance sector in emerging economies, has officially opened the Centre financier financial aux entrepreneurs de Tunisie, which is known in English as the Entrepreneur Financial Center of Tunisia (EFC Tunisia).
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MICROCAPITAL BRIEF: United Nations’ International Fund for Agricultural Development (IFAD) Grants $1.5m to Développement international Desjardins (DID) for Microfinance Operations in Central, West Africa
The International Fund for Agricultural Development (IFAD), an agency of the United Nations, has chosen to prolong the mandate originally given in 2013 to Développement international Desjardins (DID), a nonprofit member of the Canada-based Desjardins Group, with a grant of USD 561,000 for microcredit in Cameroon.
MICROCAPITAL BRIEF: Développement international Desjardins (DID) to Establish 4 More Entrepreneur Financial Centers in Tunisia, Elsewhere in Africa, Latin America
Développement international Desjardins (DID), a Canadian nonprofit providing technical support and investment for the community finance sector in emerging economies, has announced that it will establish four new entrepreneur financial centers (EFCs) in Africa and Latin America.
MICROCAPITAL BRIEF: Triodos Investment Management Invests in Tunisia’s Enda Inter-Arabe, Uganda’s Entrepreneur Financial Centre
Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, recently disbursed loans of unspecified sizes to Enda Inter-Arabe, a Tunisian financial services provider that is part of Senegal-based non-governmental organization Enda Third-World, and Entrepreneur Financial Centre (EFC) Uganda, a microfinance institution that provides financial services to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: European Investment Bank (EIB) Lends $16.4m to Housing Finance Bank (HFB) to Support Small, Medium-Sized Enterprises (SMEs) in Uganda
The European Investment Bank (EIB), a European Union-sponsored development bank, recently agreed to provide a credit line worth UGX 45 billion (USD 16.4 million) to the Housing Finance Bank (HFB), a Ugandan commercial bank, for on-lending to small and medium-sized enterprises in Uganda.
MICROCAPITAL BRIEF: LeapFrog Invests $29m in Equity in Institute for Financial Management and Research (IFMR) Capital of India
LeapFrog Investments, a for-profit private equity fund based in Mauritius that invests in microfinance, reportedly has invested USD 29 million in return for a minority stake of undisclosed size in the Institute for Financial Management and Research (IFMR) Capital, an Indian non-banking financial company that facilitates funding for organizations that serve low-income people.
MICROCAPITAL BRIEF: Développement International Desjardins (DID) Invests in Microfinance Currency Hedging Company MFX Solutions
Développement International Desjardins (DID), a nonprofit organization based in Canada that provides technical support and investment for development finance in emerging economies, has invested an unspecified amount in US-based MFX Solutions, a company that provides currency hedging solutions for microfinance institutions (MFIs) and microfinance investment vehicles (MIVs) [1].
MICROFINANCE PAPER WRAP-UP: “Map of Microfinance Distribution in India” by Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF)
By Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF); 2012; 41 pages; available at: http://www.centre-for-microfinance.com/wp-content/uploads/2012/02/Updated_Final_Report_Map_of_Microfinance_Report_CMF_June27.pdf
This report summarizes the findings of an initiative that gathered information on the portfolios, products and business correspondents of 103 microfinance institutions (MFIs) across India.
MICROCAPITAL BRIEF: Canada’s Development International Desjardins (DID), Belgian Investment Company for Developing Countries Partner to Finance Small Enterprises in Central Africa
Development International Desjardins (DID), the social arm of Canadian cooperative financial firm, the Desjardins Group; and Belgian Investment Company for Developing Countries has recently agreed to provide support to small enterprises in Central Africa.
MICROCAPITAL BRIEF: Pulse Financial Services, Rebranded As Entrepreneur Financial Centre, Aims to Disburse $12m to Zambian Microenterprises in 2012
Pulse Financial Services Limited (PFSL), a Zambian deposit-taking microfinance institution (MFI), was recently rebranded as Entrepreneur Financial Centre (EFC).
MICROFINANCE EVENT: CGAP (Consultative Group to Assist the Poor) Hosts Virtual Conference “Understanding Multiple Borrowing and Avoiding Over-indebtedness Among Clients,” January 12 and 13, 2012
Event Name: Understanding Multiple Borrowing and Avoiding Over-indebtedness Among Clients
Event Date: January 12 – 13, 2012
Event Location: Online
MICROFINANCE PAPER WRAP-UP: Micro-loans, Insecticide-Treated Bednets and Malaria: Evidence from a Randomized Controlled Trial in Orissa (India); By Alessandro Tarozzi, Aprajit Mahajan, Brian Blackburn, Dan Kopf, Lakshmi Krishnan, Joanne Young; Working Paper Published by The Centre for Micro Finance, IFMR Research
By Alessandro Tarozzi, Aprajit Mahajan, Brian Blackburn, Dan Kopf, Lakshmi Krishnan, Joanne Young; published by the Center for Microfinance (CMF) at IFMR (Institute for Financial Management and Research); March 2011; 58 pages; available at http://ifmr.ac.in/cmf/publications/wp/2011/Bednets.pdf
MICROCAPITAL BRIEF: Institute for Financial Management Research Mezzanine Finance Private Limited (IFMR Mezz) Provides $221k in Subordinated Debt to Saija Finance Private Limited
The Institute for Financial Management Research (IFMR) Mezzanine Finance Private Limited (IFMR Mezz), a microfinance investment arm of the nonprofit IFMR, has provided funds worth INR 10 million (approximately USD 221,000) to Saija Finance Private Limited, a non-banking finance company providing microfinance services in northern India, in the form of unsecured, subordinated debt.
MICROCAPITAL BRIEF: Institute for Financial Management and Research (IFMR) of India Rolls Out Interactive Map for Subsidiary Microfinance Institution Kshetriya Gramin Financial Services
The Institute for Financial Management and Research (IFMR), a nonprofit organization based in India, recently announced that it is planning to roll out an interactive map service offering information to the public on its subsidiary microfinance institution (MFI), Kshetriya Gramin Financial Services (KGFS).
MICROCAPITAL BRIEF: Nigerian National Association of Microfinance Banks (NAMB) Announces 10-Point Plan to Revitalize Microfinance Banks
Mathias Omeh, National President of the Nigerian National Association of Microfinance Banks (NAMB), announced the release of a ten-point plan to revitalize his country’s microfinance sector [1]. Omeh was elected to the position less than a month ago on promises of increased scrutiny and public microfinance education [2].
MICROCAPITAL BRIEF: The Central Bank of Nigeria (CBN) Investigates “Fraudulent Practices” at Five Recently Failed Nigerian Microfinance Banks
Mr. Olufemi Fabanwo, Nigeria’s (CBN) Director of the Other Financial Institutions Department, told news agencies that the central bank will investigate five recently failed microfinance banks and, if any operators are found to be fraudulent, he or she will be handed over to the EFCC, the country’s law enforcement agency. Operators are considered fraudulent if they have no state license to engage in banking activities. The five banks are: Integrated Microfinance Bank, KFC Microfinance Bank, Bristol Microfinance Bank, Unique Microfinance Bank, and Milestone Microfinance Bank, all based in Lagos.
MICROFINANCE EVENT: National Conference on Microinsurance on December 10-11, 2009 in New Delhi, India
Event Name: National Conference on Microinsurance
Event Description: The goal of this conference is to facilitate discussions between practitioners, regulators, actuaries, and researchers on issues related to the provision of microinsurance in India, while especially focusing on more vulnerable states with lower Human Development Indices (HDI). Specific topics to be discussed include: (1) Microinsurance issues and innovations regarding weather, health, and other livelihood products, (2) Distribution models: relevance and operational challenges, (3) Role of microinsurance in financial inclusion, and (4) Role of policy makers in facilitating proper environment.
MICROCAPITAL.ORG STORY: Nigerian Central Bank Warns Of Increase In Non-Performing Microfinance Loans, Poor Corporate Governance And Commits To Impose Sanctions On Errant Officials At Microfinance Banks
In a recent report on the Nigerian news portal, Business Day Online [1], entitled ‘CBN to sanction erring directors of microfinance, mortgage banks’ [2], it was reported by Hope Moses-Ashike that the Central Bank of Nigeria (CBN) [3] has threatened to dismiss and prosecute senior officers and operators at microfinance institutions and primary mortgage banks who have been found to have engaged in malpractice. CBN officials expressed displeasure over improper conduct by chairmen, directors, senior management staff and auditors at microfinance institutions and other financial institutions in the country. They warned the operators from Lagos, Ondo, Ogun, Osun, Edo, Ekiti, Oyo and Kwara who attended a weekend meeting for financial institutions in Lagos that the Nigerian police and the Economic and Financial Crimes Commission (EFCC) [4] will be invited to intervene anytime any indication of malpractice is discovered.