by Jeffrey Erfe -

MICROCAPITAL STORY: Micro-Lender Letshego Holdings Limited (Micro Provident) Seeks $137.7m in Capital for Expansion of African Operations

Letshego Holdings Limited, a micro-lending company based in Botswana, announced on October 10 that it intends to raise USD 137.7 million (BWP 1 billion) in debt instruments in order to fund the expansion of its micro-lending operations across Africa. Target countries in the short to medium term include: Ghana, Mozambique and Namibia. Over 80 percent of shareholders—excluding the World Bank and the International Finance Corporation (IFC)—voted to approve the move at a special general meeting in Gaborone, Botswana.

by Jeffrey Erfe -

MICROCAPITAL STORY: AIG Investments Provides Equity for Nigeria’s Blue Intercontinental Micro Finance Bank

On September 18, AIG Investments (AIG), the asset management division of American International Group Inc., announced that its Global Emerging Markets Fund II LP will invest equity in the Blue Intercontinental Micro Finance Bank (BIMFB), a microfinance institution (MFI) that promotes financial services and products within Nigerian retail markets. The exact terms of the investment were not disclosed.

by Jennifer Lee -

MICROCAPITAL STORY: Wall Street Journal Interviews Muhammad Yunus and Discusses Grameen America

The Wall Street Journal (WSJ), a leading business publication, interviewed Muhammad Yunus, founder of Grameen Bank and 2006 Nobel Peace Prize winner, in an article titled “Muhammad Yunus: Subprime Lender”. The article covered Mr. Yunus’ entrance into U.S.’s microcredit market and his approach to credit lending.

by Jennifer Lee -

MICROCAPITAL STORY: Compartamos Windfall One Year Later

Nearly one year since the well-publicized and successful IPO of Banco Compartamos, its stock has not maintained its initial and sizable gains. Compartamos is Mexico’s largest microfinance bank, the first “home-grown” microfinance institution to complete an IPO, and the continued subject of debate within the microfinance industry.