Aavishkaar Goodwell, a company that provides equity finance for microfinance institutions (MFIs), is attempting to secure commitments to raise USD 100 million for its second fund.
MICROCAPITAL BRIEF: Standard Chartered, an International Commercial Bank, Provides $1.6m Loan to Mitra Bisnis Keluarga Ventura (MBK), a Microfinance Institution (MFI) Located in Indonesia
Standard Chartered, an international commercial bank headquartered in London, has provided an IDR 15 billion loan, the equivalent of over USD 1.6 million, to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia.
MICROCAPITAL BRIEF: ACCION International Announces Inauguration of ACCION Microcredit China (AMC), a Microfinance Institution (MFI) Located in Chifeng Prefecture, Inner Mongolia, China
ACCION International, a nonprofit organization with partner microfinance institutions (MFIs) in over 20 countries, has announced the inauguration of ACCION Microcredit China (AMC), an MFI located in Chifeng Prefecture, Inner Mongolia, China.
MICROCAPITAL BRIEF: Microfinance Institution (MFI) Advans Banque Congo Increases Capital to $13m
Advans Banque Congo, a microfinance institution (MFI) operated by Luxembourg-based Advans SA, recently met the Congolese central bank’s requirement of a minimum of USD 13 million in capital. The new capital was provided by existing shareholders Advans SA, the African Development Bank (AfDB), the German development bank KfW, and the World Bank’s International Finance Corporation (IFC).
MICROCAPITAL BRIEF: French Microlending Site Babyloan Facilitates USD 807,000 in Microloans
The French microlending site, Babyloan, has facilitated EUR 592,000 (USD 807,200) in microloans to finance 2,150 projects since its launch in 2008.
MICROCAPITAL BRIEF: Economist Intelligence Unit (EIU) Ranks the Philippines “Best” in World in Terms of Microfinance Regulatory Framework
A study conducted by the Economist Intelligence Unit (EIU), the business information arm of The Economist Group, the producer of The Economist weekly magazine, has ranked the Philippines as first in the world in terms of its microfinance regulatory framework and third in the world in terms of its microfinance business environment, following Peru and Bolivia.
MICROCAPITAL BRIEF: The Pakistan Microfinance Network (PMN) Develops Software to Benchmark Local Microfinance Industry
In an attempt to increase transparency for microfinance stakeholders, the Pakistan Microfinance Network (PMN) has developed two benchmarking software applications, Pakistan Microfinance Review (PMR) software and Microfinance Connect.
MICROCAPITAL BRIEF: National Bank of Agriculture and Rural Development (NABARD) of India Invites Comments on Draft Plan for Microfinance Regulation and Development
India’s National Bank of Agriculture and Rural Development (NABARD) is seeking comments from stakeholders on a draft plan regarding regulation and development in the microfinance industry.
MICROCAPITAL BRIEF: Central Bank of Kenya (CBK) Grants License to Credit Reference Bureau Africa (CRBAfrica)
The Central Bank of Kenya (CBK) has granted a license to Credit Reference Bureau Africa (CRBAfrica) in an effort to provide the banking sector with credit information sharing services.
MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs): Interview with Gil Crawford, Chief Executive Officer of MicroVest Capital Management
Mr. Crawford is Chief Executive Officer of MicroVest Capital Management, responsible for the development, management and growth of MicroVest, including developing and implementing business development strategies and supervising investment deals. He led the launch of MicroVest I, LP, a commercial private equity vehicle focused on microfinance in North America. He has over 20 years of experience with microfinance institutions (MFIs) and capital markets and has worked in Latin America, Africa and Asia.
Previously, Mr. Crawford worked for the Latin American Financial Markets Division at the International Finance Corporation (IFC), created and ran Seed Capital Development Fund and was the Assistant Project Director for Africa Venture Capital Project. Mr. Crawford received his bank training at Chase Manhattan Bank in the mid 1980’s after working in Africa for the Red Cross and the US State Department. He graduated from Johns Hopkins University School of Advanced International Studies (SAIS) (US) in 1983 and Bates College (US) in 1980.
MICROFINANCE EVENT: Micro Financial Services World Conference in Amsterdam, May 10 – May 12, 2010
Event Name: Micro Financial Services World
Event Date: May 10 – May 12, 2010
Event Location: Amsterdam, The Netherlands
Event Website: http://www.hansonwade.com/events/micro-financial-services-world/index.shtml
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Cost:
(Conference and workshops) EUR 3197 (USD 4330)
(Conference only) EUR 1999 (USD 2700)
Discounts available for non-profits and registration before March 26. See http://www.hansonwade.com/events/micro-financial-services-world/fees.shtml for more information.
Summary of Event:
Micro Financial Services World is a two-day conference preceded by a day of workshops. Participants will have the opportunity to network with players in the microfinance industry as well as to hear from a group of speakers that includes many executive officers of microfinance institutions and microfinance funds.
MICROCAPITAL BRIEF: LOLC Micro Credit Ltd. (LOMC) Receives $14m from Symbiotics and Three Triodos Funds to Expand Microfinance Operations in Sri Lanka
Symbiotics SA Information, Consulting and Services Switzerland, a microfinance investment intermediary, and Triodos Investment Management, a group managing four microfinance funds, recently invested the equivalent of USD 14 million in LOLC Micro Credit Ltd. (LOMC), a Sri Lankan microfinance institution.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Provides $300m to Indian Guarantee Fund and Small Industries Development Bank of India (SIDBI) for Micro, Small, and Medium Enterprises (MSMEs)
The Asian Development Bank (ADB), a multilateral development bank, will provide a USD 50 million loan to the state-owned Small Industries Development Bank of India (SIDBI) for lending to micro, small and medium-sized enterprises (MSMEs) and a partial credit guarantee of up to USD 250 million for ADB’s Micro, Small and Medium Enterprise (MSME) Development Project, which will allow public sector commercial banks to obtain medium- to long-term funds to on-lend to existing MSME clients in India.
MICROCAPITAL BRIEF: Letshego Holdings of Botswana to Finalize $8.2m Sale of Two Subsidiaries in Order to Focus on Microfinance Activities in Sub-Saharan Africa
Letshego Holdings Limited, a sub-Saharan financial services provider, will soon finalize the sale of Letshego Guard and Letshego Guard Insurance Company to Botswana Insurance Holdings Limited (BIHL), an insurance company based in Botswana, for BWP 57 million (the equivalent of USD 8.2 million). Letshego Holdings will reportedly sell the insurance-related subsidiaries so that it can direct its resources to its consumer lending program. The capital raised through the sale will allow Letshego Holdings to expand its lending activities in Mozambique, Namibia, Swaziland, Uganda, and Zambia.
MICROCAPITAL BRIEF: Southern Sudan Microfinance Development Facility (SSMDF) Provides $92k to Rural Finance Initiative (RUFI), a Microfinance Institution (MFI), for Technical Assistance and On-Lending
The Southern Sudan Microfinance Development Facility (SSMDF), a microfinance investment facility supported by the Ministry of Finance and Economic Planning, the Ministry of Commerce and Industry, and the Ministry of Agriculture and Forestry of the Government of Southern Sudan, will provide funding of SDG 214,290, the equivalent of USD 92,565, to the Rural Finance Initiative (RUFI), a microfinance institution (MFI) located in Southern Sudan, over a period of three years.
MICROCAPITAL BRIEF: Financiera Independencia, a Microfinance Institution (MFI) Located in Mexico, Will Submit Request to Receive Banking License
Financiera Independencia, a microfinance institution (MFI) located in Mexico, has announced that on February 24, 2010, its Board of Directors authorized the MFI to submit a request to receive a banking license, thus allowing it to offer a wider range of products and services as well as to receive funding from retail deposits.
MICROCAPITAL BRIEF: Local Press Reports on Performance of Georgian Microfinance Sector in 2009
According to a Georgian Business Week article, the Georgian microfinance sector saw profits of GEL 16 million, the equivalent of over USD 9.3 million, in 2009.
MICROCAPITAL BRIEF: “Angola Youth” Microcredit Program Funded by Savings and Credit Bank (BPC), a State-Owned Commercial Bank, Reaches 262 Youths in 2009
According to a recent AngolaPress article, 262 youths in the southern Angola province of Cuene received microloans in 2009 from the “Angola Youth” microcredit program.