responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made local currency loans totaling the equivalent of USD 2 million to microfinance institutions (MFIs) in Senegal and Jordan.
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MICROCAPITAL BRIEF: Standard Chartered, MicroSave Launch Microfinance Risk Management Toolkit
The Bangladesh branch of Standard Chartered PLC, an international bank headquartered in the United Kingdom that reported total assets of USD 436 billion in 2009, and MicroSave, a company based in India that specializes in technical assistance and training for microfinance organizations, have jointly launched a risk management toolkit for microfinance institutions (MFIs).
MICROCAPITAL BRIEF: REGMIFA Invests $13m in Microfinance Institutions (MFIs) Sinapi Aba Trust and First Allied Savings and Loans of Ghana, Kenya Women Finance Trust, Faulu Kenya, FINCA Tanzania, Programme d’Appui aux Mutuelles d’Epargne et de Credit au Senegal (PAMECAS)
The Regional MSME Investment Fund for Sub-Saharan Africa SA, SICAV-SIF (REGMIFA), a Luxembourg-based fund that seeks to invest in micro-, small and medium sized enterprises (MSMEs) in Africa, has announced investments totaling USD 13.5 million in microfinance institutions (MFIs) Sinapi Aba Trust and First Allied Savings and Loans of Ghana; Kenya Women Finance Trust; Faulu Kenya; FINCA Tanzania, an affiliate of FINCA International, a microfinance network serving 700,000 people through subsidiaries in 21 countries; and Programme d’Appui aux Mutuelles d’Epargne et de Credit au Senegal (PAMECAS).
MICROCAPITAL BRIEF: MicroSave Launches Social Performance Management Framework for Microfinance Institutions (MFIs)
MicroSave, an organization that provides technical assistance to microfinance institutions (MFIs), recently unveiled its flagship Social Performance Management framework, which aims to improve MFIs’ social and business performance.
MICROFINANCE PAPER WRAP-UP: African Financial Systems: A Review by Franklin Allen, Isaac Otchere and Lemma Senbet, Published by The Wharton Financial Institutions Center
by Franklin Allen, Isaac Otchere and Lemma Senbet, published by The Wharton Financial Institutions Center, March 2010, 69 pages, available at: http://www.microfinancegateway.org/gm/document-1.1.8282/African%20financial%20systems.pdf
MICROCAPITAL BRIEF: Lagos State Government Commits $8.5m to Microfinance Banks through Lagos State Microfinance Institution
The Lagos State government recently announced it has committed NGN 1.3 billion (USD 8.5 million) to the Lagos State Microfinance Institution (LASMI) for distribution to microfinance banks in Nigeria.
MICROCAPITAL BRIEF: MicroSave and Microfinance Focus Form Strategic Alliance to Expand Microfinance Resources
MicroSave, a microfinance consulting company established in 1998, has partnered with the Microfinance Focus website in a strategic alliance to promote microfinance knowledge sharing and dissemination with an emphasis on engaging diverse and geographically dispersed practitioners.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Launches Education Loan Product
AccessBank, a financial institution based in Azerbaijan, recently announced the launch of a new education loan product. The product is intended to finance students’ post-secondary education and offers lower interest rates for students earning high grades.
MICROCAPITAL BRIEF: United Nations and CARE International Complete Financial Empowerment Training Program for Liberian Women
The United Nations Development Program (UNDP), the development arm of the United Nations, a humanitarian organization promoting peace and better living standards, in collaboration with the United Nations Capital Development Fund (UNCDF), the United Nations’ investment capital and technical advice program, and CARE International, a Swiss non-governmental organization, has completed a week-long financial training program for 100 women representing five community-based organizations in Liberia.
MICROCAPITAL BRIEF: MicroSave Releases Third Publication Under its Optimising Performance and Efficiency (OPE) Series, Entitled “The Savings Booklet”
MicroSave, a technical assistance, training and technical resource center for microfinance established in Uganda in 1998, has released the third publication under its Optimising Performance and Efficiency (OPE) Series, entitled “The Savings Booklet.”
MICROCAPITAL BRIEF: The 37th Annual African Insurance Conference Concludes Microinsurance Represents “Blue Ocean of Opportunities,” but Requires Oversight
Daily Independent, a Nigerian newspaper, reports from the 37th Annual African Insurance Conference in Banjul, the Gambia, that African microfinance prospects look bright, but some are concerned about transparency issues.
MICROCAPITAL BRIEF: Africa Capital and Business Support Invests $39m in Integrated Microfinance Bank Limited From $400m Mainsail Trading Limited Facility
In connection with a USD 400 million debt facility received from Mainsail Trading Limited, an investment company based in Dubai, and guaranteed by Suisse Bank Plc, a British private bank, Africa Capital and Business Support Limited (ACBS), a Nigerian financial intermediary, announced the signing of a memorandum of understanding with Integrated Microfinance Bank Limited (IMFB) for an injection of NGN 6 billion (USD 39 million).
MICROCAPITAL BRIEF: MicroCred Group Completes $5m Sale of Mexican Operations to Fig Tree Ventures, a Microfinance Management Company
The MicroCred Group, an investment company with operations in France, Madagascar and China, has completed the sale of its Mexican operations to Fig Tree Ventures, including assets of EUR 4.1 million (equivalent to USD 5 million).
MICROFINANCE EVENT: MicroSave and Financial Access Initiative (FAI) to Hold Two Day Virtual Conference “Reimagining Microfinance Around the World: Implementing Lessons from ‘Portfolio of the Poor'” June 8-9, 2010
Event Name: Reimagining Microfinance Around the World: Implementing Lessons from ‘Portfolios of the Poor’
Event Date: June 8 to June 9, 2010
Event Location: Online
Event Website: http://www.microsave.org/static/content/VC-on-portfolios-of-the-poor
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: Plan for New Law to Regulate Microfinance Sector in Uganda Announced
A new law to regulate the microfinance sector in Uganda is expected before the reading of the 2010/2011 budget in June [1]. The plan was announced by Ruth Nankabirwa, the microfinance state minister at the third Financial Inclusion Advisors Conference recently hosted in the capital, Kampala. According to Ms. Nankabirwa, membership in the microfinance sector has grown from 644,318 in 2008 to 1,154,715 in 2009. A large proportion of funds within the sector are unregulated – there are over 1,340 microfinance institutions (MFIs) in Uganda that are not regulated. Ms. Nankabirwa argues that regulating the microfinance sector will increase consumer confidence and encourage more people to use its services.
MICROCAPITAL BRIEF: ACCION International and Ecobank Partner to Form EB-ACCION Microfinance in Cameroon
EB-ACCION Microfinance, a microfinance institution (MFI) formed by ACCION International, a nonprofit organization with partner MFIs in over 20 countries, and Ecobank, a pan-African bank with a network of over 500 branches in 27 countries, recently launched its first two branches in Cameroon.
MICROCAPITAL BRIEF: MicroSave Releases Podcast on the 2007 Initial Public Offering of Mexican Microfinance Lender Compartamos
MicroSave, a technical assistance, training and technical resource center for microfinance organizations, has released a podcast discussing issues surrounding the controversially lucrative 2007, USD 458 million initial public offering of the Mexican microfinance bank, Compartamos.
MICROFINANCE EVENT: “African Mobile Micro-Finance & M-Remittances Summit” Conference Hosted by BSP Events and Forums May 10 – May 11, 2010 in Ikoyi, Lagos
Event Name: African Mobile Micro-Finance & M-Remittances Summit
Event Date: May 10 – May 11, 2010
Event Location: Ikoyi, Lagos
Event Website: http://www.bspmediagroup.com/event.php?EID=58
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events