MicroSave, an organization that provides technical assistance to microfinance institutions (MFIs), recently unveiled its flagship Social Performance Management framework, which aims to improve MFIs’ social and business performance.
MICROCAPITAL BRIEF: Microfinance and Small Loans Centre (MASLOC) to Disburse $24m to Cover All Regions of Ghana During 2011
The Microfinance and Small Loans Centre (MASLOC), an institution established by the Ghanaian microfinance industry to administer, coordinate and monitor microcredit schemes in the country, has announced a plan to increase its disbursements to cover all regions of the country through on-lending.
MICROFINANCE PAPER WRAP-UP: African Financial Systems: A Review by Franklin Allen, Isaac Otchere and Lemma Senbet, Published by The Wharton Financial Institutions Center
by Franklin Allen, Isaac Otchere and Lemma Senbet, published by The Wharton Financial Institutions Center, March 2010, 69 pages, available at: http://www.microfinancegateway.org/gm/document-1.1.8282/African%20financial%20systems.pdf
MICROCAPITAL BRIEF: Microfinance Operations in Lebanon Begin to Grow
As microfinance institutions in Lebanon are providing credit to more borrowers that are unserved by commercial banks, Director of Financial Operations at the Central Bank of Lebanon, Youssef Khalil, reports “microfinance is filling – modestly filling – part of this gap.”
MICROCAPITAL BRIEF: Philippine Department of Social Welfare and Development Awards $200,000 to Projects Offering Microfinance, Other Support for Microenterprises
The Department of Social Welfare and Development of the Philippines recently awarded seed capital of PHP 300,000 (approximately USD 6900) each to 30 projects that aim to provide communities with access to microcredit services and support the development of microenterprises.
MICROCAPITAL BRIEF: Indian Investor in Microfinance, IFMR Capital, Receives “LA-” Rating from Rating Agency ICRA
ICRA, an Indian rating agency, recently awarded, an “LA-” rating to the long-term bonds program of Indian investment company IFMR Capital, which finances institutions in sectors such as rural and urban financial services.
MICROCAPITAL BRIEF: Venezuela to Implement Universal and Microfinance Banking and De-Commercialize Current Financial System
Venezuela’s new financial infrastructure, recently approved by the National Assembly, will replace the General Law on Banks and establish universal banking, microfinance banking and money exchange offices that will launch at an unspecified date.
MICROCAPITAL BRIEF: Under Pressure from State Government of Andhra Pradesh, Indian Microfinance Institutions Agree to Cap Interest Rates at 24%
Several major microfinance institutions (MFIs) in the Indian state of Andhra Pradesh have agreed to cap interest rates at 24 percent per year after a series of politically-triggered freezes on bank lending to MFIs that followed an uproar regarding debt collector harassment that was linked to a number borrower suicides.
MICROCAPITAL PAPER WRAP-UP: Same Game, Different League: What Microfinance Institutions Can Learn From the Large Banks Corporate Governance Debate
By Maria Giovanna Pugliese, published by World Microfinance Forum Geneva, October 2010, 24 pages, available at: http://www.microfinancegateway.org/gm/document-1.9.48253/Same_Game_Diffe…
MICROCAPITAL BRIEF: Grameen Foundation Announces Creation of Bankers Without Borders (BwB) Alliance Program to Expand Microfinance Institution (MFI) Volunteering Initiative
Grameen Foundation, a US-based nonprofit, has announced the creation of the Alliance Program, within its Bankers Without Borders initiative, which will focus on increasing volunteerism in the microfinance and development technology sectors in Asia and Latin America.
MICROCAPITAL BRIEF: National Bank of Georgia, KfW Entwicklungsbank, European Fund for Southeast Europe (EFSE) Hold Conference on Responsible Finance
The National Bank of Georgia, the Georgian Central Bank; KfW Entwicklungsbank, German development bank; and microfinance investment vehicle the European Fund for Southeast Europe (EFSE) held a conference recently on the importance of responsible business practices in the financial sector.
MICROCAPITAL BRIEF: Grameen Crédit Agricole, Grameen-Jameel Pan-Arab Microfinance Guarantee $6m National Société Générale Bank Loan to The Lead Foundation Egypt
Grameen Crédit Agricole Microfinance Foundation, a wholesale lender and loan guarantor to microfinance institutions (MFIs), and Grameen-Jameel Pan-Arab Microfinance Limited, an MFI funder, have co-guaranteed an EGP 33 million (USD 5.74 million) three-year loan from the National Société Générale Bank Egypt to The Lead Foundation (Lead), an Egyptian microfinance NGO.
MICROCAPITAL BRIEF: Kenyan Microfinance Bank Equity Bank, Telecommunications Company Orange To Launch Mobile Money Program Iko-Pesa
Kenyan microfinance bank (MFB) Equity Bank has reportedly partnered with telecommunications company Orange to launch Iko-Pesa, a mobile-to-mobile money transfer service similar to M-Pesa, another mobile money transfer program headed by telecommunications company Safaricom.
MICROCAPITAL BRIEF: India’s Microfinance Industry on Brink of “Collapse” Due to Credit Freeze in State of Andhra Pradesh
India’s microfinance industry is reportedly on the verge of “collapsing,” according to the UK’s Financial Times newspaper, due to politically-triggered bank freezes on credit in the state of Andhra Pradesh, where outstanding loans reportedly measure USD 2.7 billion distributed to 6.7 million borrowers.
MICROCAPITAL BRIEF: Z Zurich Foundation Contributes $3m to International Labour Organization’s (ILO) Microinsurance Innovation Facility (MIF), Call for Proposals is Open
Z Zurich Foundation, the charitable microinsurance arm of Zurich Financial Services, has contributed CHF 3 million (USD 3.08 million) to the Microinsurance Innovation Facility (MIF), an outfit within the International Labour Organization’s (ILO) Social Finance Programme, to promote research on using technology and process innovations to protect low-income households.
MICROCAPITAL BRIEF: Indian Government Considers Legislation Banning Microfinance Institutions (MFIs) from Making Multiple Loans to Borrowers
Legislators in India are reportedly considering banning microfinance institutions (MFIs) from multiple lending.
MICROCAPITAL BRIEF: Standard Chartered Kenya Loans Small and Micro Enterprise Programme (SMEP) $3.75m to Assist Microfinance Clients
Standard Chartered Kenya, a branch of the London-based international bank Standard Chartered, loaned KES 300 million (USD 3.75 million) to Small and Micro Enterprise Programme (SMEP), a microfinance institution (MFI) in Kenya, with the goal being to benefit over 20,000 microfinance borrowers.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Receives Funding From Michael & Susan Dell Foundation and the Ford Foundation to Expand Social Performance Initiative
Microfinance Information Exchange (MIX), a source of financial and social performance data on microfinance institutions (MFIs), funders and service providers, has received grants from the Michael & Susan Dell Foundation and the Ford Foundation to expand its Social Performance Information Program.