WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.”
Search Results for: India
MICROCAPITAL BRIEF: Hedge Fund Route One Buys 0.88% Equity Stake in India’s Bharat Financial Inclusion for $15m
US-based Route One Fund I LP recently spent approximately INR 990 million (USD 15.4 million) to purchase 0.88 percent of the shares of Bharat Financial Inclusion, a for-profit non-banking microfinance institution (MFI) in India, via an open market transaction.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Places $10m Equity Investment in Satin Creditcare Network to Support Microfinance for Women in Rural India
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently made an equity investment of USD 10 million in Satin Creditcare Network Limited, a for-profit Indian microfinance institution (MFI). The funding will be used to “expand and broaden” the institution’s services for unserved
MICROCAPITAL BRIEF: India’s Microfinance Institutions Network (MFIN) Launches Financial Literacy App in 5 Languages
The Microfinance Institutions Network (MFIN), a self-regulatory organization of 53 Indian microfinance and non-banking financial institutions, recently launched a financial literacy app in English, Hindi, Marathi, Tamil and Telugu. The app offers users their credit histories, interest rates, payment cycles
MICROFINANCE PUBLICATION ROUND-UP: Alternative Financing in Africa, Middle East; Interoperability of Digital Financial Systems; Financial Inclusion in Kerala, India
“The Africa and Middle East Alternative Finance Benchmarking Report”; by The Cambridge Centre for Alternative Finance (CCAF) and Energy4Impact; published by CCAF; February 2017; 64 pages; available at https://www.scribd.com/document/338995486/CCAF-Africa-and-Middle-East-Alternative-Finance-Report-2017#download&from_embed/
This report focuses on assessing the types and prevalence of alternative financing in Africa and the Middle East.
MICROCAPITAL BRIEF: Asian Development Bank Invests $1.5m in Equity in India’s M-CRIL to Expand Ratings in Cambodia, China, Indonesia, Nepal
Micro-Credit Ratings International Limited (M-CRIL), an India-based provider of rating and advisory services to the microfinance industry, recently sold an unspecified portion of its equity to the Asian Development Bank (ADB), a development finance institution with 67 member countries. One goal of the funding is to help M-CRIL expand in Cambodia, China, Indonesia and Nepal. ADB Principal Investment Specialist Anshukant Taneja said the investment will
MICROFINANCE PUBLICATION ROUND-UP: Impact of M-Pesa Mobile Money; Microinsurance in Sri Lanka; Women’s Financial Diaries in India, Kenya, Mexico
“The Long-run Poverty and Gender Impacts of Mobile Money”; by Tavneet Suri and William Jack; published in Science; December 8, 2016, 4 pages; available at http://science.sciencemag.org/content/354/6317/1288.full/
This article reviews a study that assessed the impact of the M-Pesa mobile payment service in Kenya.
MICROCAPITAL BRIEF: India’s Muthoot Raises $20m in Equity from Creation Investments Amidst Plans to Open 500 New Microfinance Branches
Creation Investments Capital Management, a US-based alternative investment company, recently announced that it has placed an equity investment of USD 20 million in Muthoot Microfin Limited, a unit of Indian conglomerate Muthoot Pappachan Group. Muthoot Microfin
MICROFINANCE EVENT: 12th Biennial Conference on Entrepreneurship; February 22 – 24, 2017; Ahmedabad, India
Event Name: 12th Biennial Conference on Entrepreneurship
Event Date: February 22 – 24, 2017
Event Location: Entrepreneurship Development Institute of India, Ahmedabad, Gujarat, India
Summary of Event: This event offers researchers, educators and practitioners opportunities to discuss their work with the goal of advancing research in entrepreneurship. In past
MICROFINANCE PUBLICATION ROUND-UP: Lessons on IPOs from Indian MFIs; Growth In Impact Investing; 10-Year Survey of Microfinance Investment Vehicles
“How to IPO Successfully and Responsibly: Lessons From Indian Financial Inclusion Institutions”; by Anna Kanze; published by the Center for Financial Inclusion (CFI) at Accion; Fall 2016; 25 pages; available at: http://www.centerforfinancialinclusion.org/storage/documents/How_to_IPO_Final.pdf
This report draws upon two recent initial public offerings (IPOs) in the financial inclusion industry – those of Equitas and Ujjivan, both microfinance lenders in India – to make the case that institutions can use IPOs to strengthen their capital base while remaining committed to their social missions.
MICROCAPITAL BRIEF: IKEA Foundation Donating $6m to Habitat for Humanity to Improve Homes in India, Kenya
The IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies, recently announced a donation of EUR 5.3 million (USD 6 million) to Habitat for Humanity, a US-based nonprofit that aims to provide safe housing options for people in need.
MICROCAPITAL BRIEF: India’s Arman Financial Services Decreases Interest Rates on Two-wheel Vehicle, Microfinance Loans
Arman Financial Services Limited, a non-banking finance company based in the Indian state of Gujarat, recently announced it is reducing interest rates on its two-wheel vehicle and microfinance loans.
MICROCAPITAL BRIEF: Intellegrow, Symbiotics Launch SME Debt Pool Program by Securitizing $5.3m Bond Issuance Benefiting Indian Entrepreneurs
Intellegrow, an India-based subsidiary of Intellecap Group specializing in venture debt, and Symbiotics, a Switzerland-based firm investing in smaller companies, recently launched a small and medium-sized enterprise (SME) debt pool program, benefiting Indian entrepreneurs from “impact” sectors including, but not limited to, food and agriculture, healthcare, and waste management.
MICROCAPITAL BRIEF: India’s RBL Bank Acquires 10% Equity Stake in Utkarsh Micro Finance
RBL Bank Limited, an institution formerly known as Ratnakar Bank Limited (RBL) that is headquartered in the Indian state of Maharashtra, recently announced its plan to buy a 9.99-percent stake in Utkarsh Micro Finance, a non-banking financial institution based in the Indian state of Uttar Pradesh.
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: Microfinance Institution Equitas Begins Accepting Deposits in Chennai, India, With Interest Rates Starting at 6%
Equitas Small Finance Bank Limited, a subsidiary of India’s Equitas Holdings Limited, recently began operations with three branches in Chennai, offering deposit accounts with interest rates of six to 7.5 percent per year.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines
Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru and the Philippines.
MICROCAPITAL BRIEF: Indian Banks Deceptively Reduce Number of Zero-Balance Accounts Under Pradhan Mantri Jan Dhan Yojana Financial Inclusion Effort
Although the proportion of zero-balance bank accounts opened under India’s Pradhan Mantri Jan Dhan Yojana (PMJDY) program was reduced from 76 percent in January 2015 to 24 percent as of September 2016, it recently has been reported that this is not due to customer deposits.