Netherlands-based investment fund Goodwell West Africa has agreed to raise its equity share in Nwabiagya Community Bank of Ghana from 14.03 percent to 18.9 percent with a USD 1 million investment.
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MICROCAPITAL BRIEF: Ugafode Receives Microfinance Deposit-Taking Institution License from Bank of Uganda
Ugafode Microfinance, a Ugandan microfinance institution (MFI), reportedly has received a license from the Bank of Uganda to act as a Microfinance Deposit-Taking Institution (MDI).
MICROFINANCE PAPER WRAP-UP: Microfinance Investment Vehicles in Sub-Saharan Africa: Constraints and Potentials, by Bertrand Moulin, Published by Centre for European Research in Microfinance (CERMi)
By Bertrand Moulin, published by the Centre for European Research in Microfinance (CERMi), August 2011, 20 pages, available at: http://mpra.ub.uni-muenchen.de/32967/
MICROCAPITAL BRIEF: MicroSave Launches Capital Structuring and Equity Valuation Toolkit for Microfinance
MicroSave, an India-based technical assistance, training and resource center for microfinance practitioners, has launched its Capital Structuring and Equity Valuation Toolkit for microfinance professionals.
MICROCAPITAL BRIEF: Microinsurance Innovation Facility (MIF) Accepting Applications for Africa-Based Fellowships Until November 30, 2011
Four microinsurance fellowship positions based in Africa have been made available through the Microinsurance Innovation Facility of the United Nations’ International Labour Organization (ILO).
MICROCAPITAL BRIEF: Standard Bank: Majority of Africans Lack Access to Microfinance, Other Financial Services
A new report from Standard Bank of South Africa reveals that many financial services remain unavailable to the majority of the people that live in Africa.
MICROCAPITAL BRIEF: Incofin Lends $3.6m to Microfinance Institutions Finance for Development of Azerbaijan, Asian Credit Fund of Kazakhstan, Kompanion of Kyrgyzstan
Belgian company Incofin Investment Management (Incofin IM) has recently disbursed loans through microfinance investment funds it manages to three microfinance institutions (MFIs): USD 800,000 to Azerbaijani Finance for Development (FinDev), KZT 44 million (approximately USD 305,000) to Kazakh Asia Credit Fund (ACF) and USD 2.5 million to Kyrgyz Kompanion.
MICROCAPITAL BRIEF: Government of Botswana to Stop Facilitating Repayment of Microfinance Loans by Civil Servants
The government of Botswana has announced that it will cease acting as an intermediary between microfinance institutions (MFIs) and civil servants for the collection of microloans through the provision of “deduction-at-source” from public servants’ wages [1].
MICROFINANCE EVENT: MFTransparency, Agence Française de Développement, UN Capital Development Fund, Luxembourg Cooperation, African Microfinance Network, CGAP (Consultative Group to Assist the Poor) to Host African Microfinance Pricing Transparency Leadership Forum, October 5-7, 2011 in Nairobi, Kenya
Event Name: African Microfinance Pricing Transparency Leadership Forum
Event Date: October 5 – October 7, 2011
Event Location: Nairobi, Kenya
MICROCAPITAL BRIEF: Dr Muhammad Yunus Suggests Microfinance “Misinterpreted” as Charity in the Arab World due to Outdated Regulation
Dr Muhammad Yunus, the founder of Bangladeshi microfinance institution (MFI) Grameen Bank, recently argued that the Arab world has “misinterpreted the system’s true principles” by operating it as a “charity affair” [1].
MICROCAPITAL BRIEF: Swiss Re Commits to Offering Cholera Insurance in Haiti and Crop Insurance in Senegal, Clinton Global Citizen Awards Announced at CGI Annual Meeting
Swiss Re, a global reinsurer, announced during the recent 2011 Clinton Global Initiative (CGI) Annual Meeting its commitment to provide insurance against cholera for Haitian women entrepreneurs and an “insurance for work” program intended to help farmers in Senegal maintain food and income security amidst climate change.
MICROCAPITAL BRIEF: MicroEnsure to Offer Microinsurance in Kenya Using M-Pesa, FrontlineSMS:Credit Technology
The Kenyan office of MicroEnsure, a subsidiary of US-based microfinance network Opportunity International, is employing M-Pesa, a mobile money service in Kenya, and FrontlineSMS:Credit, a nonprofit software provider specializing in mobile financial services, to offer microinsurance policies independent of savings and credit groups.
MICROCAPITAL BRIEF: Indian Rating Agency ICRA Assigns “A2(SO)” Rating to $1.45m in Pass Through Certificates from Microfinance Institution Arohan
Indian rating agency ICRA Limited (ICRA) has assigned a conditional rating of A2(SO) to a series of pass through certificates (PTCs) backed by INR 7.18 crores (USD 1.45 million) in microloan receivables originated by Arohan Financial Services Private Limited (Arohan), a Kolkata-based non-banking financial company (NBFC).
MICROCAPITAL BRIEF: Haitian Microfinance Institution Fonkoze Using “Progress out of Poverty Index” to Monitor Economic Progress of Clients in Disaster-Affected Areas
A recent study by the US-based nonprofit Grameen Foundation titled “Rapid Response in the Wake of Disaster: Using the PPI to Design and Support Fonkoze’s Earthquake Recovery Program,” describes how Fonkoze, a Haitian microfinance institution (MFI), is using the Progress out of Poverty Index (PPI), a country-specific poverty assessment tool, in disaster affected areas to monitor and evaluate the progress of its clients [1].
MICROCAPITAL BRIEF: Microfinance Innovation Center for Resources and Alternatives (MICRA) of Philippines to Join Grameen Foundation’s Bankers without Borders Alliance, Organize Volunteer Consultants Working with Microfinance Institutions
Bankers without Borders (BwB) Alliance, a volunteer initiative of the US-based nonprofit Grameen Foundation, recently announced that Microfinance Innovation Center for Resources and Alternatives (MICRA), a microfinance consulting and advisory firm in the Philippines, will become the fifth member of the alliance [1].
MICROCAPITAL BRIEF: Consortium on Financial Systems and Poverty (CFSP) Researchers Posit Weak Financial Sectors in Developing Countries Encourage Microenterprises at Expense of Economic Growth
In a recent paper, “Finance and Development: A Tale of Two Sectors,” published in the academic journal American Economic Review, researchers affiliated with the US-based nonprofit Consortium on Financial Systems and Poverty (CFSP), conclude that poor access to financing opportunities in developing countries makes it harder for entrepreneurs to start large-scale businesses like manufacturing [1].
MICROCAPITAL BRIEF: Clinton Global Initiative (CGI) 2011 Annual Meeting Occurring on September 20 – 22 Includes Haiti Investment Workshop
Clinton Global Initiative (CGI), an effort established by former US President Bill Clinton in 2005 to bring together a community of global leaders to alleviate poverty, create a cleaner environment and increase access to health care and education, is holding its 2011 Annual Meeting in New York City, US, from September 20 to September 22, 2011.
MICROCAPITAL BRIEF: Ahmed El Bardai of Egyptian Microfinance Institution Reefy Predicts Boom in Lending to Small and Medium-Sized Enterprises to Boost National Economy
Mr Ahmed El Bardai, founder and chief executive of the Egyptian for-profit microfinance institution (MFI) Reefy, expects the country’s next government to focus on small and medium-sized enterprises (SMEs) to boost the economy that is facing a huge budget deficit and declining gross domestic product [1].