Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization that offers financial services to microfinance institutions (MFIs) and social business projects in Sub-Saharan Africa and Eurasia, has recently loaned Koperasi Mitra Dhuafa (Komida), an Indonesian MFI, the local-currency equivalent of USD 751,000 with a three-year term.
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MICROCAPITAL BRIEF: YouthStart Supports Opening of 40,000 Savings Accounts, Grants $640k to Faitiere des Unites Cooperatives d’Epargne et de Credit du Togo (FUCEC)
YouthStart, a program that aims to increase access to financial services for low-income youth in Sub-Saharan Africa, recently reported that approximately 40,000 young people in Burkina Faso, Ethiopia, Malawi, Rwanda, Senegal and Uganda have opened savings accounts with YouthStart’s partner institutions and deposited approximately USD 550,000 into those accounts since September 2012.
MICROFINANCE PAPER WRAP-UP: “Securing the Silent: Microinsurance in India: The Story So Far” by Premasis Mukherjee, Rosalind Piggot and Sunil Bhat; published by MicroSave
By Premasis Mukherjee, Rosalind Piggot and Sunil Bhat; published by MicroSave; December 2012; 63 pages; available at: http://www.microsave.org/sites/default/files/research_papers/Securing_the_Silent_MI_Report.pdf
This paper examines the microinsurance industry in India, specifically the industry for life and health microinsurance.
MICROCAPITAL BRIEF: Zimbabwean Government’s Small Enterprises Development Corporation (SEDCO) Looking to Collect Microsavings to Bailout Itself
The Cabinet of Zimbabwe reportedly has approved a proposal by the Small Enterprises Development Corporation (SEDCO), a publicly funded business development agency, to set up a microfinance bank with the intent of recapitalizing the state enterprise by raising deposits from cooperatives and small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: LOLC Microcredit Limited of Sri Lanka Receives $55m Syndicated Loan Funds from FMO, OPEC Fund for International Development, PROPARCO, Cordiant Capital
Lanka Orix Leasing Company (LOLC) Micro Credit Limited, the microfinance arm of Sri Lankan financial service provider LOLC, has received a five-year syndicated loan of USD 55.5 million.
MICROFINANCE PUBLICATION ROUND-UP: Microinsurance for Microfinance Institutions; Trends in Microfinance Investments; Inclusive Insurance Markets
“Pathways Towards Greater Impact: Better Microinsurance Models, Products and Processes for MFIs;” by Craig Churchill, Aparna Dalal and Josh Ling; published by International Labour Organization; November 2012; 52 pages; available at: http://www.ilo.org/public/english/employment/mifacility/download/mpaper18_models.pdf
MICROFINANCE PUBLICATION ROUND-UP: Trends in Cross-Border Funding for Microfinance; Microinsurance Among Microcredit Groups in Tanzania; Asian Development Bank Interventions Fail to Reach Enough Poor People
“Current Trends in Cross-Border Funding for Microfinance;” by Estelle Lahaye and Ralitsa Rizvanolli; published by CGAP (Consultative Group to Assist the Poor); December 2012; 4 pages; available at: http://www.cgap.org/sites/default/files/Brief-Current-Trends-in-Cross-Border-Funding-for-Microfinance-Nov-2012.pdf
MICROCAPITAL BRIEF: US-based MoreMagic, Splash Expand Mobile Money Services in Sierra Leone
Splash Mobile Money Limited, a mobile financial service provider based in Sierra Leone, and MoreMagic Solutions, a US-based technology provider that developed Splash’s service platform, have extended the Splash network in Sierra Leone with the addition of DStv, a satellite television network in the country; Access Bank and Ecobank Microfinance, two commercial banks; and a network of 50 rural banks set up by both the United Nations International Fund for Agricultural Development (IFAD) and the Ministry of Agriculture.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Microfinance Capacity Building Fund (MCBF) Offering up to $500k per Institution
The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently announced its second call for proposals for the Microfinance Capacity Building Fund (MCBF), which was launched by AfDB and the government of Spain to expand the outreach of the African financial sector.
MICROCAPITAL BRIEF: Munich Climate Insurance, EC Global Insurance Launch Microinsurance Product in St. Lucia
The Munich Climate Insurance Initiative (MCII), a project of the German re-insurance company Munich Re, and EC Global Insurance, a subsidiary insurance arm of the St. Lucia-based East Caribbean Financial Holding Group, recently unveiled a microinsurance product “Livelihood Protection Policy” (LPP).Speaking at the product launch, Leathon Khan, CEO of EC Global, reportedly noted, “This is for us a very proud accomplishment and a very proud moment in our continued development as a very innovative and forward thinking insurance provider. We really appreciate the positive response from the regulators and we can now move forward very confidently to offer this product to the public. This is a socially responsible investment in our people.”
SPECIAL REPORT: Responsible Microfinance Implementation Action Group Looks to Boost Usage of Existing Tools, Distributes Template of Covenants for Investors to Attach to Loans to Microbanks
At the European Microfinance Week conference today in Luxembourg, representatives of the European Microfinance Platform (e-MFP) Action Group on the Implementation of Responsible Microfinance led a discussion on its work. The group presented graphics compiling existing social performance tools such as social audits and the publication of pricing data via the US-based nonprofit Microfinance Transparency. One of the suggested steps for microbanks embarking on the process of evaluating its social performance is to make a public commitment through an effort such as the Smart Campaign, which is backed by US-based nonprofit Accion, or the Global Appeal for Responsible Microfinance, which is promoted by a set of institutions led by Oxus Group, an initiative of French NGO Agency for Technical Cooperation and Development (ACTED).
MICROFINANCE PAPER-WRAP UP: “The Jipange KuSave Experiment in Kenya;” by Sarah Rotman, David Ferrand, Stephen Rasmussen; published by CGAP
By Sarah Rotman, David Ferrand, Stephen Rasmussen; published by CGAP (Consultative Group to Assist the Poor); October 2012; 4 pages; available at:http://www.cgap.org/sites/default/files/CGAP-Brief-The-Jipange-KuSave-Experiment-in-Kenya-Oct-2012.pdf
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
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.
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: Planning Minister of Jordan Meets Microfinance Representatives
The Minister of Planning and International Cooperation of Jordan, J’afaar Hassan, recently met with a group of microfinance practitioners as part of the operational plan of the country’s national strategy for the microfinance sector.
MICROCAPITAL BRIEF: Silatech, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Partner with Al-Amal Microfinance Bank, Alkuraimi Islamic Microfinance Bank to Provide Microsavings for Youth in Yemen
Silatech, a Qatar-based social enterprise, and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), the development agency of the German government, have partnered with Al-Amal Microfinance Bank (AMB) and Alkuraimi Islamic Microfinance Bank (AIMB), both of Yemen, to extend financial access to Yemeni youth through a microsavings program.
MICROCAPITAL BRIEF: Central Bank of Brazil Launches Financial Inclusion Action Plan
The Central Bank of Brazil (BCB in Portuguese) reportedly has released an action plan that aims to strengthen the institutional environment of the National Partnership for Financial Inclusion (NPFI), which was launched in November 2011.