The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the private-sector office of the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, have announced that each of the organizations will invest USD 5 million in Root Capital, a US-based nonprofit social investment fund.
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MICROCAPITAL BRIEF: Confederation of Nepalese Industries to Establish $1m Social Business Fund
The Confederation of Nepalese Industries (CNI), a body of 50 large and medium-scale manufacturing and service sector businesses in Nepal, reportedly has promised to establish a USD 1 million social business fund over the next three years.
MICROCAPITAL BRIEF: Bamboo Finance of Luxembourg Acquires Accion Investment Fund for $105m
Bamboo Finance, a commercial investment firm based in Luxembourg, recently acquired Accion Investment Fund, a for-profit equity fund affiliated with the US-based nonprofit organization Accion, for USD 105 million.
MICROCAPITAL BRIEF: Bank for International Settlements Global Partnership for Financial Inclusion Conference Emphasizes Minimizing Regulation For Smaller Transactions
The Financial Stability Institute of the Bank for International Settlements (BIS), an international financial institution based in Basel, Switzerland, which aids central banks in their pursuit of monetary and financial stability, recently hosted its first Global Partnership for Financial Inclusion (GPFI) Conference with the theme “Promoting financial inclusion through proportionate standards and guidance.”
MICROCAPITAL BRIEF: Juntos Finanzas of California Wins $100k Mexico Financial Inclusion Competition
Juntos Finanzas, a US-based company offering mobile personal finance tools, recently was announced the winner of the 2012 Financial Inclusion Competition created at G2012 Mexico, the seventh summit of leaders from 20 large economies (G-20), and Ashoka Changemakers, an initiative of the US-based nonprofit Ashoka.
MICROFINANCE EVENT: HBS-Accion Program on Strategic Leadership For Microfinance, Harvard Business School, Boston, Massachusetts, USA, April 1-April 6, 2013
Event Name: HBS-Accion Program on Strategic Leadership for Microfinance
Event Date: April 1 – April 6, 2013
Event Location: Harvard Business School, Cambridge, Massachusetts, USA
MICROCAPITAL BRIEF: Peru’s Grupo ACP Receives Approval to Convert Microfinance Institution Forjadores de Negocios of Mexico into Banco Forjadores
Grupo Accion Comunitaria del Peru (ACP) Inversiones y Desarrollo, a nonprofit holding company based in Peru, recently received the approval of Mexican banking regulators to convert Forjadores de Negocios SA, its Mexican microfinance institution (MFI), into Banco Forjadores, which is expected to begin operations in the first quarter of 2013.
MICROCAPITAL BRIEF: 8th Annual Clinton Global Initiative: Commitments to Financial Access, Global Citizen Awards Presented
The eighth annual Clinton Global Initiative (CGI), which concluded on Wednesday, September 26, focused on the theme “Designing for Impact,” which was intended to promote the use of creativity and innovation to drive change, particularly through social investment and the empowerment of women. Approximately 150 new commitments to various projects were announced, as were progress reports for commitments made in previous years. The new commitments include:
MICROFINANCE PAPER WRAP-UP: “Empowerment of Women and Gender Mainstreaming in Rural Microfinance;” by Getaneh Gobezie; published by UN Women
By Getaneh Gobezie; published by UN Women; September 2011; 17 pages; available at: http://www.un.org/womenwatch/daw/csw/csw56/egm/Gobezie-RP-2-EGM-RW-Sep2011.pdf.
MICROCAPITAL BRIEF: World Bank Releases Government Electronic Payment Program Guidelines
The World Bank Group, a US-based institution whose aim is to reduce poverty, recently released a report titled “General Guidelines for the Development of Government Payment Programs” that aims to assist governments and other stakeholders in developing efficient electronic government-payment systems.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Trends in Latin America and the Caribbean; Livestock Insurance in India; Using “Digital Footprints” to Boost Financial Inclusion
“Latin American and the Caribbean Microfinance Market Trends 2006-2011;” by Renso Martinez Ramirez; published by Microfinance Information Exchange; June 2012; 22 pages; available at: http://www.themix.org/publications/mix-microfinance-world/2012/06/latin-american-and-caribbean-microfinance-market-trends-
MICROCAPITAL EVENT: Munich Re Foundation, Microinsurance Network Present “8th International Microinsurance Conference”, Dar es Salaam, Tanzania, November 6-8, 2012
Event Name: 8th International Microinsurance Conference
MICROCAPITAL BRIEF: Accion Launches Microfinance Portfolio Management Service “Avanza”
Accion, a US-based nonprofit organization, recently launched a service called Avanza that manages retail microfinance portfolios for banks and microfinance institutions (MFIs).
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.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation to Support Financing SMEs in Emerging Markets Through GATE Impact Investment Platform
The Overseas Private Investment Corporation (OPIC), a US government agency that works with private-sector firms in the US to invest in emerging markets, has selected GATE (Global Alternative Trading Engine) Impact, a New York-based financial services company, to establish the Impact Investment Platform for the Enterprise Development Network, an OPIC effort intended to help finance and otherwise support small and medium-sized enterprises (SMEs) doing business in emerging markets overseas.
MICROCAPITAL BRIEF: Sagamore to Place $22m in Equity In Accion Microfinance China, Taking 70% Stake
Accion, a US-based nonprofit organization, recently announced an equity investment of CNY 140 million (USD 21.9 million) made by China-based Sagamore Investments in Accion Microfinance China (AMC).
MICROCAPITAL BRIEF: Accion to Launch $60m Frontier Investment Fund, Invest in Indian Microfinance, Other Ventures
Frontier Investments Group, an investment vehicle of US-based nonprofit Accion, recently announced plans to launch the Frontier Investment Fund, which reportedly will have a pool of between USD 60 million and USD 75 million and focus on emerging economies, especially India.
MICROCAPITAL BRIEF: G2012 Mexico, Ashoka Changemakers Offers $100k for Winning Solution to Financial Services Access
The G2012 Mexico, the seventh summit of leaders from 20 large economies (G-20), and Ashoka Changemakers, an initiative of the US-based nonprofit Ashoka, have partnered to launch the “G2012 Mexico Financial Inclusion: Innovative Solutions for Unlocking Access” competition.