LeapFrog Investments, an international for-profit microinsurance fund, recently announced that it had raised an additional USD 65 million in commitments, bringing the fund’s total to USD 112 million.
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MICROFINANCE EVENT: Mobile Money Transfer Africa Conference and Expo to be hosted May 4 – May 7, 2010 in Nairobi, Kenya
Event Name: Mobile Money Transfer Africa
Event Date: May 4 – May 7, 2010
Event Location: Nairobi, Kenya
Event Website: http://www.mobile-money-transfer.com/africa
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Cost: Prices range from USD 1799 to USD 3397 depending on which parts of the event participants wish to attend. Group discounts are available.
Summary of Event: The event is comprised of a one-day pre-conference workshop, a two-day conference and one-day of site visits to the local offices of M-PESA, a mobile-phone based money transfer service, and Grameen Foundation, an international organization that provides support to microfinance institutions.
MICROCAPITAL BRIEF: Bill and Melinda Gates Foundation and MasterCard Foundation to Grant $16m to Opportunity International’s African Microfinance Program
The Bill and Melinda Gates Foundation and the MasterCard Foundation are partnering to award a grant of USD 16 million to Opportunity International, an international non-profit organization with a microfinance program headquartered in Malawi. The Bill and Melinda Gates Foundation website announces that the purpose of the grant is “to support the expansion of new delivery channels, savings and agricultural finance in Malawi, Ghana, and other African countries” [1].
MICROCAPITAL BRIEF: International Finance Corporation and KfW Entwicklungsbank to Establish Microfinance Institutions (MFIs) in Zambia and Senegal in 2010
The International Finance Corporation (IFC), the investment arm of the World Bank, and KfW Entwicklungsbank (KfW), a state-owned development bank based in Germany, have announced that they will establish microfinance institutions (MFIs) in Zambia and Senegal in 2010.
MICROCAPITAL BRIEF: Advans SA Raises $33m in Second Round of Fundraising From Existing Shareholders
Advans SA, a Luxembourg-based organization that mobilizes funds for microfinance institutions (MFIs), has raised EUR 23 million (USD 33 million) in its second round of fundraising.
WHO’S WHO IN MICROFINANCE: MicroEnsure
MicroEnsure was founded in 2005 as a wholly owned subsidiary of Opportunity International, a global non-profit microfinance network created in 1974.
MEET THE BOSS: Sebastien Duquet, Managing Director of PlaNIS (PlaNet Investment Services), a member of the PlaNet Finance Group
Sébastien Duquet is the Managing Director of PlaNIS (PlaNet Investment Services), a member of the PlaNet Finance Group.
MicroCapital: What is your background?
SD: Until recently, I was the Managing Director of PlaNet Finance, where I have worked since 2002. Previously, I was an auditor for Andersen and Ernst & Young for ten years, and I also worked for two years at HSBC bank.
MC: Please describe PlaNet Investment Services.
MICROCAPITAL BRIEF: The European Bank for Reconstruction and Development (EBRD) Provides $5m Loan to Uzbekistan’s HamkorBank for Micro- and Small Enterprises (MSEs)
The European Bank for Reconstruction and Development (EBRD) has extended a USD 5 million credit line to HamkorBank, an open joint-stock commercial bank in Uzbekistan, to increase the availability of financial services to micro- and small enterprises (MSEs).
KNOW A MICROFINANCE FUND: Hivos-Triodos Fund (HTF), Incofin Rural Impulse Fund (RIF), Incofin VDK MFI Loan Portfolio, ACCION Latin America Bridge Fund (LABF)
The following microfinance investment funds are profiled in this brief:
Hivos-Triodos Fund (HTF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hivos-Triodos+Fund+%28HTF%29
Incofin Rural Impulse Fund (RIF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+Rural+Impulse+Fund+%28RIF%29
Incofin VDK MFI Loan Portfolio
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+VDK+MFI+Loan+Portfolio
ACCION Latin America Bridge Fund (LABF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ACCION+Latin+America+Bridge+Fund+%28LABF%29
KNOW A MICROFINANCE FUND: Fonds International de Garantie (FIG) (International Guarantee Fund (IGF)), Investisseur et Partenaire pour le Développement (I&P), Gray Ghost Fund, Incofin Impulse Microfinance Fund
The following microfinance investment funds are profiled in this brief:
Fonds International de Garantie (FIG) (International Guarantee Fund (IGF))
Investisseur et Partenaire pour le Développement (I&P)
Gray Ghost Fund
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gray+Ghost+Fund
Incofin Impulse Microfinance Fund
KNOW A MICROFINANCE FUND: FRONTIERS, Global Partnerships Microfinance Fund, Goodwell, Grameen Credit Agricole Microfinance Fund
The following microfinance investment funds are profiled in this brief:
FRONTIERS
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FRONTIERS
Global Partnerships Microfinance Fund
Goodwell
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Goodwell
Grameen Credit Agricole Microfinance Fund
MICROCAPITAL EVENT: MicroInsurance Summit 2010: Evaluating Stategies for Delivery, Partner-Agent Models and Scalability, February 23-25, 2010, Le Meridien Piccadilly, London
Event Name: MicroInsurance Summit 2010: Evaluating Stategies for Delivery, Partner-Agent Models and Scalability
Event Date: February 23-25, 2010
Event Location: Le Meridien Piccadilly, London
Event Website: http://www.hansonwade.com/events/microinsurance-summit-2010/index.shtml
See Our Comprehensive Event Calendar Here:
http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: LeapFrog Invests $6.8m in AllLife, a South African HIV and Diabetes Microinsurer
LeapFrog Investments, a for-profit, private equity microinsurance fund, has invested ZAR 50 million (USD 6.8 million) in AllLife, a South African insurer for people with HIV and diabetes. AllLife provides life insurance only to those who follow an appropriate health monitoring and treatment program, enabling it to maintain more competitively priced coverage. Mr. Ross Beerman, Managing Director of AllLife said: “These are potential policyholders, willing to pay for reasonably priced insurance and willing to take steps to manage their disease so that they lead long and productive lives. From a business risk and profitability perspective, of course they’re insurable – we simply had to invent systems to monitor and support them in the right ways.”
MICROCAPITAL.ORG BRIEF: SCOR Invests in LeapFrog Investments to Gain Experience in Microinsurance Sector
According to The Review, an insurance magazine, the Paris-based reinsurer, SCOR Group, has invested an undisclosed amount in LeapFrog Investments, a microinsurance fund with USD 44 million in equity. A statement issued by SCOR stated, “Our investment in LeapFrog is a demonstration of [our] support of a socially-responsible sector such as microinsurance.” SCOR also said that the “strict investment return criteria applied … to all its investments” was also applicable in this instance. Additionally, SCOR’s CFO, Mr. Paolo de Martin, will be joining LeapFrog’s advisory board.
‘Advans SA’ of Luxembourg Creates Subsidiary ‘Advans Côte d’Ivoire’ to Provide Microfinance Services in the West African Country
Advans SA, a Luxembourg-based “international venture capital company specialised in microfinance” has announced the creation of a new subsidiary in Côte d’Ivoire called “Advans Côte d’Ivoire” [1,2]. This will be Advans SA’s fifth subsidiary after Advans Banque Congo, Advans Ghana, Advans Cameroun, and Amret, an microfinance institution (MFI) in Cambodia [1,2]. Advans Côte d’Ivoire will be tasked with providing access to formal financial services for micro, small, and medium enterprises (MSMEs) in Côte d’Ivoire in an effort to “foster growth” [1]. It will provide loans as well as savings [1]. Its operations will begin in Abidjan, the largest city in the country [1]. Eventually, Advans Côte d’Ivoire will extend its services to other major cities and rural areas [1]. Advans SA, as of March 31 2008, has assets worth EUR 7.4 million [2].
MICROCAPITAL.ORG BRIEF: Access Bank Plc. and State of Anambra, Nigeria Launch $16.5m Microfinance Scheme
Access Bank Plc, a Nigerian commercial bank, has agreed to work with the Anambra state government to launch the state’s first microfinance scheme, by providing an equivalent of USD 16.5 million to selected microfinance institutions (MFIs) within the month. State Governor Peter Obi plans to set up workshops at the local government level throughout the state, in order to monitor progress and train operatives on “effective operation of the scheme.” He has also organized a committee, consisting of himself, representatives of the Access Bank, the Central Bank of Nigeria, microfinance bank operators, and others, who will oversee the program. The criteria for taking out a loan are not based on assets or collateral, but on “proven good character of the borrower.” The MFIs receiving funds are restricting the maximum amount that can be loaned to an individual to be equivalent to USD 3,294.
KNOW A MICROFINANCE FUND: Advans SA
Overview:
The Advans SA fund is a microfinance investment vehicle which mobilizes funds for microfinance institutions (MFIs).
KNOW A MICROFINANCE FUND: ACCION Investments in Microfinance SPC
Overview:
The ACCION Investments in Microfinance, SPC fund (ACCION Investments) is a microfinance investment vehicle which mobilizes funds for microfinance institutions (MFIs).