by Juan Blanco Ramos -

MICROFINANCE PAPER WRAP-UP: “Financial Capability in Colombia: Results from a National Survey on Financial Behaviors, Attitudes, and Knowledge;” by Rekha Reddy, Miriam Bruhn and Congyan Tan; Published by The World Bank

“Financial Capability in Colombia: Results from a National Survey on Financial Behaviors, Attitudes, and Knowledge;” by Rekha Reddy, Miriam Bruhn and Congyan Tan; published by The World Bank; 2013; 87 pages; available at http://documents.worldbank.org/curated/en/2013/07/18054984/financial-capability-colombia-results-national-survey-financial-behaviors-attitudes-knowledge

This report, which was published by The World Bank, a US-based multilateral institution, analyzes a survey carried out in Colombia regarding “financial capabilities,” including behaviors, attitudes and knowledge regarding financial products.

by Meraj Husain -

MICROFINANCE EVENT: Caribbean MicroFinance Alliance (CMFA) to Host “Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel,” June 2 – 5, 2014, Montego Bay, Jamaica

Event Name: The Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel

Event Date: June 2 – 5, 2014

Event Location: Iberostar Rose Hall Suites Hotel, Montego Bay, Jamaica

by A'kos Szebeni -

MICROCAPITAL BRIEF: US-based TriLinc Global Impact Fund Invests in Small, Medium-Sized Enterprises (SMEs) in Brazil, Chile, Indonesia, Peru

TriLinc Global Impact Fund (TriLinc), a US-based private investor in companies that it deems to contribute positively to socioeconomic development in emerging economies, recently disbursed a total of USD 5.7 million in loans through a series of investments in unspecified small and medium-sized enterprises (SMEs) in Brazil, Chile, Indonesia and Peru.

by A'kos Szebeni -

MICROCAPITAL BRIEF: Germany’s Kreditech Raises $15m in Debt from Kreos Capital for Lending in Eurasia, Latin America

Kreditech, a German technology company that uses an online platform to assess the creditworthiness of loan applicants, recently announced that it has raised USD 15 million in debt financing from UK-based venture capital firm Kreos Capital (Kreos).

by A'kos Szebeni -

MICROCAPITAL BRIEF: Peru-based Financiera Edyficar’s Acquisition of 61% Stake in Mibanco Receives Regulatory Approval

Peru-based microlender Financiera Edyficar (Edyficar), an operating subsidiary of Peruvian holding company Creditcorp, has received regulatory approval from the Peruvian Superintendency of Banks, Insurance and Pension Funds, the financial sector regulator in the country, for its proposed USD 179 million acquisition of a 60.7-percent stake in Mibanco, a Peruvian microfinance institution (MFI) that is a subsidiary of nonprofit holding company Grupo Accion Comunitaria del Peru (ACP).

by A'kos Szebeni -

MICROCAPITAL BRIEF: US-based Startups First Access, Cignifi Analyze Mobile Phone Usage to Measure Creditworthiness of Unbanked

A number of startup companies are employing analytical techniques based on “big data” to interpret the mobile phone usage of poor people to assess the creditworthiness of those applying for loans in developing economies.

by A'kos Szebeni -

MICROFINANCE EVENT: Global Sustainable Finance Network (GSFN) to Host Global Sustainable Finance Conference 2014, June 12 – 13, 2014, Karlsruhe, Germany

Event Name: Global Sustainable Finance Conference 2014

Event Date: June 12 – 13, 2014

Event Location: Karlsruhe, Germany

by Tejas Jain -

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $4m to Microfinance Institutions in Armenia, Honduras, Tajikistan

Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 4 million to microfinance institutions (MFIs) in Armenia, Honduras and Tajikistan [1].

by Meraj Husain -

MICROCAPITAL BRIEF: India-based Elevar Seeks to Raise $75m for Third Impact-Investing Private Equity Fund, Receives Commitment from Omidyar Network

Elevar Equity, an India-based private equity fund that is focused on “impact investing,” is seeking to raise USD 75 million for its third fund by the end of 2014. Elevar reportedly has received commitments of unspecified amounts from two investors, including US-based investment firm Omidyar Network.

by Tejas Jain -

MICROCAPITAL BRIEF: Commercial Credit and Finance of Sri Lanka Raises $12m by Selling 25% Equity Stake to Creation Investments

Commercial Credit and Finance (CCF), a Sri Lanka-based financial company, recently reached an agreement with Creation Investments Social Ventures Fund II, a private equity fund managed by US-based Creation Investments Capital Management, to raise LKR 1.68 billion (USD 12.4 million) in equity funding through an issue of 80 million new shares.

by A'kos Szebeni -

MICROCAPITAL BRIEF: Creditcorp’s Financiera Edyficar of Peru to Acquire 61% Stake in Mibanco for $179m

Peru-based microlender Financiera Edyficar (Edyficar), an operating subsidiary of Peruvian bank holding company Creditcorp, recently announced that it will acquire a 60.7-percent stake in Mibanco, a Peruvian microfinance institution (MFI) that is a subsidiary of nonprofit holding company Grupo Accion Comunitaria del Peru (ACP).

by A'kos Szebeni -

MICROCAPITAL BRIEF: Owner of Mibanco, Grupo Accion Comunitaria del Peru (ACP) Breaches Debt Covenant; Entire Peruvian Microfinance Sector Under Strain?

Grupo Accion Comunitaria del Peru (ACP), a Peruvian nonprofit holding company that is the majority shareholder of Peruvian microfinance institution (MFI) Mibanco, recently breached a covenant on a 10-year USD 85 million corporate bond due in 2021, resulting in a downgrade of its credit rating by Fitch, a US-based rating agency.

by Tejas Jain -

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $18m from Dual Return Funds to Microfinance Institutions in Asia, Latin America

Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 18.5 million for microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, El Salvador, Georgia, India, Peru, Sri Lanka and Tajikistan [1].

by Nisha Koul -

MICROCAPITAL BRIEF: Accion Venture Lab Invests in Kenyan Mobile Money System Kopo Kopo, MeraDoctor of India

US-based nonprofit Accion has announced that its Accion Venture Lab, a USD 10 million investment vehicle that provides seed capital and management support to financial inclusion startups, has invested unspecified amounts of money in two companies: Kopo Kopo, a Kenya-based service that allows small businesses to accept customer payments through mobile phone; and MeraDoctor, which provides low-cost health insurance in India as well as 24-hour access to doctors by telephone that is intended to lessen health impacts by reducing delays in seeking care [1].

by the MicroCapital Team -

SPECIAL REPORT: Michael Chu: “Disrupt this Old Model to Unlock the Potential of Microfinance”

At today’s opening plenary of European Microfinance Week, which is hosted by Luxembourg’s 140-member European Microfinance Platform (e-MFP), Michael Chu of the US-based Harvard Business School and the Mexico-based venture capital fund Ignia, argued that microfinance is generally implemented using a 20-year-old model that is inefficient and “ripe for disruption” through technology.

by Nisha Koul -

MICROCAPITAL BRIEF: International Monetary Fund (IMF) Releases 2013 Financial Access Survey

The US-based International Monetary Fund, a United Nations institution aiming to foster global cooperation on monetary issues, recently announced the results of its fourth annual Financial Access Survey (FAS), which provides global supply-side data on financial inclusion [1].

by Adrija Vaiciulionis -

MICROCAPITAL BRIEF: YellowPepper Launches Mobile Payments System in Colombia

YellowPepper, a US-based mobile payments provider, recently signed an agreement with 12 unspecified Colombian banks to launch its services in Colombia in an effort to replace cash payments and provide greater access to financial services for the country’s unbanked population.