Event Name: 8th Annual Penn Microfinance Conference
Event Date: March 29, 2014
Event Location: Jon M. Huntsman Hall, University of Pennsylvania, Philadelphia, Pennsylvania, USA
Event Name: 8th Annual Penn Microfinance Conference
Event Date: March 29, 2014
Event Location: Jon M. Huntsman Hall, University of Pennsylvania, Philadelphia, Pennsylvania, USA
LeapFrog Investments, a private equity fund based in Mauritius, has purchased a 25-percent stake in Petra Trust, a Ghanaian pension-trustee company.
Dutch pension insurer Zwitserleven, Dutch railway pension fund Spoorweg Pensioenfonds and Dutch public transport pension fund Pensioenfonds Openbaar Vervoer recently made the initial deposits to a Small and Medium Enterprise (SME) Finance Fund that has received a total of EUR 100 million (USD 134.5 million) for its first close from these and other undisclosed investors.
Event Name: Mobile Money and Digital Payments Americas 2014
Event Date: April 7 – April 9, 2014
Event Location: Mexico City, Mexico
UK-based life insurance firm Prudential plc has purchased a majority stake in Ghanaian microinsurance provider Express Life Insurance Company from LeapFrog Investments, a private equity fund based in Mauritius.
The second Islamic Microfinance Challenge, a contest that encourages the design and application of microfinance products that are complaint with Islamic law (Sharia), is now accepting applications from Islamic financial services providers that offer Sharia-compliant products that are not based on the “murabaha” concept of “cost plus markup” [1].
“Partnerships in Mobile Financial Services: Factors for Success;” by Mark Flaming, Aiaze Mitha, Michel Hanouch, Peter Zetterli and Greta Bull; published by the MasterCard Foundation and the International Finance Corporation (IFC); October 2013; 18 pages; available at http://www.ifc.org/wps/wcm/connect/88486280414940acb54ab79e78015671/Partnerships+in+Mobile+Financial+Services.pdf?MOD=AJPERES
This report presents findings from a study exploring the factors that determine the success of business partnerships among telecommunication firms, financial institutions and other organizations in providing mobile financial services.
The World Bank Group’s International Finance Corporation (IFC), through “Inclusive Business Models Group,” has presented eight new case-studies of initiatives that operate within inclusive business principles [1, 2].
The International Finance Corporation (IFC), a member of the US-based World Bank Group, has announced an investment of CNY 186 million (USD 30.5 million) in Fullerton Credit (FC), a subsidiary of Singapore-based Fullerton Financial Holdings (FFH), to support financial access to small and medium-sized enterprises (SMEs) in western and central provinces of China [1].
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].
Absolute Portfolio Management (APM), an Austria-based asset management company that offers investment and advisory services to microfinance institutions (MFIs), recently issued approximately USD 12.5 million in credit to unspecified MFIs in Armenia, Azerbaijan, Bolivia, Cambodia, Costa Rica, Ecuador, Nicaragua and Tajikistan.
Standard Chartered Bank (SCB), a UK-based financial services company, reportedly has extended a loan of PHP 80 million (USD 1.8 million) to Asa Philippines Foundation (Asa), a Manila-based provider of loans, savings, insurance, business development training and academic scholarships for clients and their children in the Philippines.
Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it disbursed loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, a microfinance institution in Chennai, India, and INR 350 million (5.5 million) Satin Credit Care, a microfinance institution in Delhi, India, during August 2013. The purpose of both loans is to support on-lending to microentrepreneurs. It is estimated that 30,000 microenterprises will receive financing as a result of these two wholesale loans. Standard Chartered Bank has been associated with Equitas since 2012 and Satin since 2006. Further information on the loans has not been released.
LeapFrog Investments, a Mauritius-based investor in financial services for poor people in emerging markets, has raised USD 204 million for its second equity fund.
Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed local-currency loans equivalent to USD 13 million to Janalakshmi Financial Services Private Limited (JFS) and Ujjivan Financial Services Private Limited (UFS).
Aeon Financial Service Company Limited (Aeon), a Japanese-based credit and financial services provider, recently announced that it has launched Aeon Microfinance (Myanmar) Company, a consumer credit services subsidiary based in the Myanmar State of Yangon.
In June 2013, Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, issued loans totaling the equivalent of USD 9.5 million to microfinance institutions (MFIs) in Azerbaijan, Bosnia & Herzegovina, Cambodia, Colombia, Ecuador, Georgia, Kyrgyzstan and Poland though its two Vision Microfinance funds, Dual Return Fund- Vision Microfinance and Dual Return Fund- Vision Microfinance Local Currency Fund.
Opportunity International, a US-based nonprofit organization that provides financial services to poor people in 24 countries, recently announced that Caterpillar Foundation, the philanthropic arm of US-based equipment manufacturer Caterpillar Inc., has granted Opportunity two multi-year donations totaling USD 19.2 million [1].