MICROCAPITAL BRIEF: Microcred Starts Microfinance Operations in Burkina Faso

The Microcred Group, a for-profit microfinance company operating under the umbrella of French NGO Positive Planet, recently started the operations of its new subsidiary in Ouagadougou. During the first 20 days, customers opened 1,260 accounts, mobilizing CFA 40 million (USD 68,000) in deposits.

MICROCAPITAL BRIEF: India’s Kotak Mahindra Bank Buying BSS Microfinance for $21m

Kotak Mahindra Bank (KMB), a private-sector Indian bank, recently announced plans to acquire BSS Microfinance, a Karnataka-based non-banking financial company run by the Bharatha Swamukthi Samsthe (BSS) Trust, for INR 1.4 billion (USD 21 million)

MICROCAPITAL BRIEF: Tanzania’s National Microfinance Bank Lists $18m in Bonds on Dar Es Salaam Stock Exchange

The National Microfinance Bank (NMB), an institution backed by the government of Tanzania, recently announced that it has listed TZS 41.4 billion (USD 18.8 million) in three-year retail bonds on the Dar es Salaam Stock Exchange (DSE), the listing surpassed its initial retail bond target by 107 percent.

MICROCAPITAL BRIEF: India’s Bandhan Microfinance Institution to Cut Interest Rates as a Commercial Bank

Bandhan Microfinance, a microfinance institution (MFI) based in Kolkata, India, has applied for a banking license to convert to a commercial bank, which reportedly will reduce costs, reduce interest rates on loans and increase the number of clients [1]. The current interest rate on loans that Bandhan offers is 22 percent; as a commercial bank it can potentially offer rates as low as 12 percent because it can fund loans from deposits, thus reducing its dependence on borrowing costly funds from other banks [2].