BNP Paribas, a financial service provider based in France, recently made loans totaling the equivalent of USD 1.9 million to two microfinance institutions (MFIs): Fundación Espoir (Espoir) of Ecuador and Amret Company Limited (Amret) of Cambodia [1].
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MICROFINANCE EVENT: Royal Netherlands Embassy, Global Alliance for Banking on Values (GABV) to Host Roundtable Discussion on “Real” Banking for the Real Economy: Can Values-based Banking Sustainably Finance the Future?, September 22, 2011, in Washington DC, USA
Event Name: “Real” Banking for the Real Economy: Can Values-based Banking Sustainably Finance the Future?
Event Date: September 22, 2011; 5:00 pm to 7:00 pm
Event Location: Washington, DC, USA
MICROCAPITAL BRIEF: Housing Microfinance Not a Viable Solution for Slums, Opines Ruban Selvanayagam
Mr Ruban Selvanayagam, a Brazil-based real estate and land consultant with EXITUS Construction Brazil, recently laid out a series of arguments against housing microfinance being the best solution to deal with the “wide and growing presence of slums, shanty towns and other forms of substandard housing” [1].
MICROFINANCE EVENT: Fondazione Giordano Dell’Amore to Host Conference, “Present and Future of Microfinance: Transparency, Client Protection and Social Impact for a Sustainable Growth,” Milan, Italy, October 24, 2011
Event Name: Present and Future of Microfinance: Transparency, Client Protection and Social Impact for a Sustainable Growth
Event Date: October 24, 2011
Event Location: Milan, Italy
MICROCAPITAL BRIEF: Bank of Ghana Issues New Licensing Regime to Regulate Microfinance Industry
In an attempt to improve regulation of microfinance institutions (MFIs) in the country, the Bank of Ghana (BoG), the central bank of Ghana, recently issued new operating rules and guidelines under the Non-bank Financial Institutions Act 2008. Among those being regulated are ‘susu’ companies, which are named after a traditional, informal means to save and borrow.
MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $1.5m to Microfinance Institutions in Colombia, Dominican Republic
Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that the Dual Return Fund – Vision Microfinance Local Currency, a sub-fund of Absolute’s Vision Microfinance that provides loans to microfinance institutions (MFIs) exclusively in local currencies, made debt investments totaling the equivalent of USD 1.5 million in unnamed MFIs in Colombia and the Dominican Republic [1].
MICROFINANCE EVENT: Cloud Computing and Financial Services for The Poor: Promise and Perils of a New Computing Paradigm in Washington DC, USA, and Online, September 16, 2011
Event Name: Cloud Computing and Financial Services for The Poor: Promise and Perils of a New Computing Paradigm
Event Date: September 16, 2011; 9:00 am – 10:30 am EDT
Event Location: QED Group, 1250 Eye Street, NW 11th Floor, Washington DC, USA or online
MICROCAPITAL BRIEF: responsAbility Loans $4.4m to Profinanzas of Peru, Coomuldesa of Colombia, the Mexican Arms of ProCredit and ProMujer
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance, recently reported to MicroCapital that it made debt investments totaling the approximate equivalent of USD 4.4 million through microinvestment vehicles (MIVs) it manages to Profinanzas of Peru, Coomuldesa of Colombia and the Mexican arms of ProCredit and ProMujer.
MICROFINANCE EVENT: Indian Ocean / South Asia Mobile Payments & Banking Summit 2011, Colombo, Sri Lanka, NEW DATES: January 31 – February 1, 2012
Event Name: Indian Ocean / South Asia Mobile Payments & Banking Summit 2011
Event Date: November 21 – November 22
Event Location: Ramada Colombo, Colombo, Sri Lanka
MICROCAPITAL BRIEF: India’s SKS Microfinance Scaling Up Non-Core Businesses of Financing Grocery Stores, Gold Lending
SKS Microfinance is reportedly scaling up its non-core businesses of financing Samgam stores, which are retail grocery stores owned by poor women, and increasing its gold lending operations in efforts to diversify its revenue stream.
MICROCAPITAL BRIEF: World Council of Credit Unions’ (WOCCU’) “2010 Statistical Report” Announces 12% Increase in Credit Union Deposit Holdings, 10% Increase in Reserves
The World Council of Credit Unions (WOCCU), a US-based membership organization representing 41 national-level credit union member trade groups, recently released its “2010 Statistical Report,” which is based on data from credit unions from 100 countries and reports a 12-percent increase in aggregate credit union savings from USD 1.1 trillion in 2009 to USD 1.23 trillion in 2010.
MICROCAPITAL BRIEF: Kenya’s M-Pesa Mobile Money Service Reports Revenue Growth of 56%
M-Pesa, a mobile money transfer service that is operated by Kenyan telecommunication provider Safaricom Limited, recently released financial information for the fiscal year ending March 31, 2011, during which time it reported revenue growth of 56 percent, from KES 7.55 billion (USD 94.2 million) to KES 11.8 billion (USD 139 million).
MICROCAPITAL BRIEF: MicroRate’s “The State of Microfinance Investments 2011” Indicates Resilience During Economic Downturn
MicroRate, a US-based microfinance rating agency, recently announced the release of its sixth annual survey of microfinance investment vehicles (MIVs), “The State of Microfinance Investments 2011.”
MICROCAPITAL BRIEF: Microcredit Summit Campaign: 45m Indians Move Out of Poverty, Earning Over $1.25 Per Day Because of Microfinance
The Microcredit Summit Campaign, a program of the US-based advocacy group RESULTS Educational Fund, recently released a report indicating that nearly 9 million Indian households involved in microfinance began earning more than USD 1.25 per day between 1990 and 2010.
MICROFINANCE PAPER WRAP-UP: Discovering Limits: Global Microfinance Valuation Survey 2011; By Frederic de Mariz, Xavier Reille, Daniel Rozas; Published by JP Morgan, CGAP (Consultative Group to Assist the Poor)
By Frederic de Mariz, Xavier Reille and Daniel Rozas; published by JP Morgan and CGAP (Consultative Group to Assist the Poor); July 2011; 29 pages; available at: http://www.microfinancegateway.org/p/site/m//template.rc/1.9.52137
MICROCAPITAL BRIEF: Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States’ “Financial Education Program” Reaches 100,000 Low-Income Households in Eastern Europe, Central Asia
The Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States, a regional network of 110 microfinance institutions (MFIs), announced its Financial Education Program (FEP) has reached 100,000 low-income households.
MICROCAPITAL BRIEF: Economists Question Myanmar’s (Burma’s) Microfinance Plan Due to Corruption, Macroeconomic Instability
Economists cite corruption and macroeconomic instability as potential threats to effectiveness of a microfinance scheme that is being developed by the government of Myanmar (Burma).
MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $5m to Microfinance Institutions in Colombia, Kazakhstan, Russia, the Philippines
Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that the Dual Return Fund, a sub-fund of Absolute’s Vision Microfinance, made debt investments totaling USD 5 million in unnamed microfinance institutions (MFIs) in Colombia, Kazakhstan, Russia and Philippines [1].