The International Finance Corporation (IFC), a member of the US-based World Bank Group, will issue a microfinance bond to Japanese retail and institutional investors in an effort to expand financial access for poor people in South Africa and Turkey.
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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $453k to Opportunity Microcredit Romania
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund that mobilizes capital for microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of USD 453,000 to Opportunity Microcredit Romania (OMRO), a Romanian MFI that is a member of the US-based Opportunity International network.
MICROCAPITAL BRIEF: Habitat for Humanity, Citi Foundation, Multilateral Investment Fund (MIF) Unveil The Housing Microfinance: Product Development Toolkit
Habitat for Humanity, a US-based nonprofit organization, and Citi Foundation, the charitable arm of US-based financial services provider Citigroup, recently unveiled “The Housing Microfinance: Product Development Toolkit” in an effort to increase lending to improve housing for poor people worldwide.
MICROCAPITAL BRIEF: Vodafone’s M-Pesa Mobile Money Service to Expand International Options with HomeSend Partnership
Vodafone, a UK-based telecommunications company, and Safaricom, a Kenya-based cell phone service provider, reportedly plan to expand its mobile money program M-Pesa by linking it with HomeSend, a Belgian-based service that increases the inter-compatibility of money transfer systems.
MICROFINANCE PUBLICATION ROUND-UP: Analysis of Microfinance Investment Vehicles; Female Microfinance Clients in Pakistan; Life Microinsurance in the Philippines
“The State of Microfinance Investment 2012: MicroRate’s 7th Annual Survey and Analysis of MIVs;” published by MicroRate; October 2012; 17 pages; available at: http://www.microrate.com/downloads/78
MICROCAPITAL BRIEF: Yunus Social Business Fund Begins Financing Small and Medium-Sized (SMEs) in Haiti
Grameen Bank founder and 2006 Nobel Peace Prize Winner Dr Muhammad Yunus recently announced the support of the Germany-based Yunus Social Business Fund for social businesses in Haiti through a mix of loans and equity.
MICROFINANCE EVENT: CGAP, MicroSave Host Virtual Conference on “Client Insights: How Can Providers Listen and Learn from Their Clients”, October 30-31, 2012
Event Name: Client Insights: How Can Providers Listen and Learn from Their Clients?
Event Date: October 30-October 31, 2012
Event Location: Online
MICROCAPITAL BRIEF: Kenya to Levy 10% Tax on Mobile Money Transactions
Kenya’s government recently announced a 10-percent excise duty will be charged on fees for cash transactions executed using mobile money transfer systems.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Microscope 2012; Impact of Financial Access in Bosnia and Herzegovina; Economic Opportunities and Financial Outcomes of Microfinance
“Global Microscope on the Microfinance Business Environment 2012;” by the Economist Intelligence Unit; published by The Economist; 72 pages; available at: http://www5.iadb.org/mif/en-us/home/knowledge.aspx?idPublication=64206
MICROCAPITAL BRIEF: YuMobile, MicroEnsure, Jubilee Insurance Partner to Offer Life, Disability Insurance to Mobile Subscribers in Kenya
YuMobile, a Kenyan mobile phone service provider; MicroEnsure, a UK-based subsidiary of Opportunity International; and Jubilee Insurance, a Kenyan insurance provider, recently partnered to offer life and disability insurance called yuCover for yuMobile’s pre-pay subscribers.
MICROCAPITAL BRIEF: Asian Development Bank Invests $40m in Vietnam’s Microfinance Sector
The Asian Development Bank (ADB), a development finance institution based in the Philippines, recently lent USD 40 million to the government of Vietnam in an effort to improve the country’s microfinance sector.
MICROCAPITAL BRIEF: Bangladesh Bank (BB) to Introduce Agent Banking
Bangladesh Bank (BB), the central bank of Bangladesh, reportedly will allow agent banking for services such as deposits, cash withdrawal, fund transfers, bill payment, remittances and receiving salary and government payments.
MICROCAPITAL BRIEF: GATE Global Impact, Unismart Capital Software to Unite Investing Platform, “Fundingroadmap” Reporting Software
Global Alternative Trading Engine (GATE) Global Impact, an internet-based impact investing platform that is part of US-based GATE Technologies, and Unismart Capital Software, an India-based financial software provider, have established a partnership to integrate their technologies to increase transparency and reporting related to due diligence.
MICROCAPITAL BRIEF: Incofin Rural Impulse Fund II Completes Equity Investment in Microfinance Institution Azercredit of Azerbaijan, Volksvermogen Raises Stake to 10% in ProEmpresa of Peru
The Incofin Rural Impulse Fund II (RIF II), a microfinance investment vehicle (MIV) that mobilizes capital for rural microfinance institutions (MFIs), recently completed an equity investment of an undisclosed amount in Azercredit, an Azerbaijani MFI.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Apexes; Confessions of a Microfinance Heretic; Selling Microinsurance
“A New Look at Microfinance Apexes;” by Sarah Forster, et al; published by CGAP (Consultative Group to Assist the Poor); July 2012; 26 pages; available at: http://www.cgap.org/p/site/c/template.rc/1.9.58459/
MICROCAPITAL BRIEF: BlueOrchard Finance, Belgian Investment Company for Developing Countries (BIO), Opportunity International Announce New CEOs
BlueOrchard Finance SA, a Swiss microfinance investment manager; Belgian Investment Company for Developing Countries (BIO), a public-private partnership established by the Belgian government; and Opportunity International, a US-based nonprofit organization, all recently announced new CEOs.
MICROCAPITAL BRIEF: Goodwell West Africa Microfinance Development, Adlevo, Omidyar, Acumen, Capricorn Fund Expansion of Paga Money Transfers Across Nigeria
Paga, a Nigerian money-transfer service that was launched in February 2011, has received new equity investments both from its previous investor, Goodwell West Africa Microfinance Development Company, a branch of Dutch company Goodwell Investment, and from new investors Adlevo Capital, a Mauritius-based private equity fund manager; Omidyar Network, a US-based nonprofit investment firm; Acumen Fund, a US nonprofit venture fund; and Capricorn Investment Group, a privately owned, US-based investment manager.
MICROCAPITAL BRIEF: Accion Buys 9% of Microfinance Institution CrediConfia of Mexico for $1.9m
Accion, a US-based nonprofit organization, recently made an equity investment of USD 1.9 million in CrediConfia, a microfinance institution (MFI) providing financial services to microentrepreneurs and low-income households in rural and semi-urban areas of east-central Mexico.