Event Name: 6th Latin America Microinsurance Summit
Event Dates: March 23-26, 2015
Event Location: Hotel Conrad Miami, Miami, Florida, USA
Event Name: 6th Latin America Microinsurance Summit
Event Dates: March 23-26, 2015
Event Location: Hotel Conrad Miami, Miami, Florida, USA
Project Concern International (PCI), a US-based non-governmental organization (NGO), recently announced that it plans to scale up the operations of its Women Empowered (WE) initiative by providing approximately 250,000 women, in addition to the 230,000 women it currently serves, with tools and training for their businesses.
On the occasion of the recently convened International Summit of Cooperatives, Développement international Desjardins (DID), a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in emerging economies; the International Co-operative Alliance (ICA), a Belgium-based nonprofit with 271 member cooperatives in 94 countries; and microfinance institutions (MFIs) that are members of the Proxfin Network, an international network of 30 community finance institutions coordinated by DID, endorsed a Draft Declaration to tackle the “challenges of food security,” “employment crisis,” and “access to health care and services”[1].
MicroCapital: Please describe one of the key issues to be covered this year at European Microfinance Week.
Christoph Pausch: The question of over-indebtedness is still the major risk for the sector, as identified in the most recent Banana Skins survey. We had a very successful plenary last year exploring the issue from a research perspective. This year, we’re taking a very different approach by bringing CEOs of leading microfinance institutions (MFIs) from three countries – Bangladesh, Morocco, and Mexico – to discuss how they’ve been dealing with the issue. Each of these countries has had a different experience, with Bangladesh having successfully averted a potential crisis by slowing market growth (as described in an excellent paper by Stuart Rutherford and Greg Chen). Morocco was one of the original “microfinance crisis” countries during 2008 and 2009, and the MFIs there have had an interesting experience in resolving the problems from that period. Finally, Mexico is a major market with serious concerns regarding over-indebtedness, and MFIs there are working to avert a potential crisis.
Accion, a US-based nonprofit organization, recently announced the acquisition of a 10-percent stake in Credinka, a microfinance institution (MFI) based in the Peruvian city of Cusco, from Diviso Grupo Financiero, a financial group that has been listed on the Lima Stock Exchange since 2007.
Risk Management Initiative in Microfinance (RIM), a platform that promotes adoption of risk management standards in microfinance, has announced the launch of its official website, which aims to provide a “hub for the dissemination of risk management standards, information sharing and industry cooperation” [1].
The Alliance for Financial Inclusion (AFI), a network of financial policymakers from developing and emerging economies, announced at its recent annual 2014 Global Policy Forum in Port of Spain, Trinidad and Tobago, that in collaboration with Bank Negara Malaysia (BNM), Malaysia’s central bank, AFI will shift its headquarters from Bangkok, Thailand, to Kuala Lumpur, Malaysia, in January 2015.
Accion’s Frontier Investments Group, a venture-equity initiative that seeks to invest in companies serving financially excluded populations, has invested an undisclosed amount in Eseye Limited, a UK-based machine-to-machine (M2M) technology provider, during Eseye’s series-B financing round, which raised a total of USD 9 million.
Event Name: 17th Inter-American MicroEnterprise Forum (Foromic)
Event Date: November 4-6, 2014
Event Location: Guayaquil Convention Center, Guayaquil, Ecuador
Event Name: Alliance for Financial Inclusion Global Policy Forum “Global Partnerships, National Goals, Empowering People”
Event Date: September 9 – 11, 2014
Event Location: Port of Spain, Trinidad and Tobago
“The Microfinance Sector in Morocco: Investment Opportunities After the Crisis,” published as part of the Insight series by MicroFinanza Rating, May 2014, 4 pages, available at http://www.microfinanzarating.com/images/Insight_Morocco_March_2014.pdf
Performed by Italy’s MicroFinanza Rating in May 2014, this “country screening” analyzes the political, economic and legal frameworks in which microfinance institutions (MFIs) function in Morocco.
Event Name: 2nd West African Microfinance Conference
Event Date: July 23-24, 2014
Event Location: The Miklin Hotel, Accra, Ghana
The Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance network, has announced that it has raised debt funding equivalent to USD 30 million in nine local currencies to support the financial inclusion of low-income microentrepreneurs through its Local Currency Microfinance Note III [1].
“Financial Inclusion and Development: Recent Impact Evidence;” by Robert Cull, Tilman Ehrbeck and Nina Holle; published by CGAP (Consultative Group to Assist the Poor) as Focus Note Number 92; April 2014; 12 pages; available at http://www.cgap.org/sites/default/files/FocusNote-Financial-Inclusion-and-Development-April-2014.pdf
The authors of this document argue that “financial inclusion is an important development priority”[1] that helps poor people around the world improve their lives.
Indian non-banking financial company Grameen Financial Services Private Limited, which is also known as Grameen Koota, reportedly has received an equity investment of USD 13.5 million from Italy-based private equity firm MicroVentures.
Two funds controlled by Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, have distributed credits worth approximately USD 5 million to unspecified microfinance institutions (MFIs) in Azerbaijan, El Salvador and Tajikistan.
Two institutional investors, Lok Capital LLC (Lok Capital), a Mauritius-based investment vehicle, and Creation Investments Capital Management Limited Liability Corporation (LLC) (Creation Investments), a US-based alternative investment management company, reportedly have invested a cumulative sum of INR 800 million (USD 13.7 million) in Equitas Holdings Private Limited (Equitas), a Chennai-based microfinance institution (MFI).
Event Name: G20 Young Entrepreneurs’ Alliance Summit 2014
Event Date: July 18-22, 2014
Event Location: Sheraton on the Park Hotel, Sydney, Australia