In a recent report, “Inclusão Financeira,” the Central Bank of Brazil presents the bank’s financial inclusion initiative, which aims for improvements in governance, transparency, regulation, credit, technology, distribution channels and product diversity [1].
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MICROCAPITAL BRIEF: Smart Campaign Revises “Client Protection Principles” for Microfinance Institutions (MFIs)
The Smart Campaign, a global initiative to improve client protection in the microfinance industry, recently announced revisions to its “Client Protection Principles,” which are intended to help microfinance institutions (MFIs) improve their business through good ethics [1].
MICROCAPITAL BRIEF: Indian Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) Raises $150m from Institutional Investors, Commercial Banks
Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution (MFI) and member of the BASIX Group of companies, has reportedly raised INR 7 billion (USD 150 million) in debt and equity commitments from institutional investors and commercial banks, in what has been described as a “lifeline” by BASIX chairman Vijay Mahajan.
MICROFINANCE EVENT: Microfinance Investment Transparency and Evaluation in Washington DC, USA, and Online, July 20, 2011
Event Name: USAID Microenterprise Development Office After Hours Seminar #53 – Microfinance Investment Transparency and Evaluation
Event Date: July 20, 2011; 4:00 pm – 5:30 pm EDT
Event Location: QED Group, Washington DC, USA or online
MICROCAPITAL BRIEF: Rosalind Copisarow Starts Today as New Managing Director of Dutch Microfinance Investor Oikocredit
Ms Rosalind Copisarow was recently appointed as the new managing director of Oikocredit, a Dutch cooperative investment fund.
MICROCAPITAL BRIEF: ImpactAssets Includes 22 Microfinance-Focused Fund Managers in List of Top 50 Impact Investors
ImpactAssets, a US-based nonprofit company specializing in impact investment, recently released its “2011 ImpactAssets 50,” a list of investment fund managers that “achieve financial performance with positive social and environmental impacts,” including 22 microfinance-focused funds.
MICROCAPITAL BRIEF: Spurned by Commercial Banks, Indian Microfinance Institutions (MFIs) Raise Funds from Social Investors IFC, ACCION, MicroVest, ShoreCap, Aavishkaar, BlueOrchard
Indian microfinance institutions (MFIs), which have seen new lending from commercial banks dry up since the “Andhra Pradesh crisis” broke in late 2010, instead have been accessing funds from social and philanthropic investors including: International Finance Corporation (IFC), the private-investment arm of the World Bank Group; ACCION International, a US-based nonprofit organization; MicroVest Capital Management, a US-based family of microfinance investment funds; Shore Capital, a UK-based investment banking company; Aavishkaar Goodwell India Microfinance Development Company Limited, an India-based financing company; and BlueOrchard Microfinance Investment Managers, a Swiss manager of microfinance funds.
MICROFINANCE EVENT: Boston Microfinance Club Hosts Panel Discussion, “Beyond the Initial ‘Hype’: The Future of Microfinance”, June 21, 2011, Boston, Massachusetts, USA
Event Name: Beyond the Initial ‘Hype’: The Future of Microfinance
Event Date: June 21, 2011
Event Location: Boston, Massachusetts, United States
MICROCAPITAL BRIEF: ACCION Establishes Majority-Owner Microfinance Institution (MFI) in Brazil
ACCION International, a US-based nonprofit organization that supports microfinance institutions (MFIs) in 22 countries, recently announced the official launch of ACCION Microfinanças, an MFI in the Brazilian state of Amazonas.
MICROCAPITAL BRIEF: Panel Discusses Balancing Profit, Mission, Impact at Microfinance USA Conference 2011, Presented by Opportunity Fund, ACCION, Kiva, in New York City, May 23 – 24
Opportunity Fund, a nonprofit organization based in the US state of California that offers microloans and microsavings primarily to people in the San Francisco Bay area; ACCION International, a microfinance organization that provides lending and financial education to small businesses in twenty-three countries; and Kiva, a US-based online portal that allows individuals to make loans to microfinance institutions (MFIs) for on-lending to poor people in sixty countries, hosted the Microfinance USA Conference 2011 on May 23 and May 24 in New York City.
MICROCAPITAL BRIEF: LeapFrog Partners With Unitus Capital Looking to Invest $40m to Increase Microinsurance Penetration in India
LeapFrog Investments, a US-based private equity fund focusing on microinsurance activities, is reportedly looking for opportunities to deploy up to USD 40 million in India.
MICROCAPITAL BRIEF: Members of “No Pago” Movement in Nicaragua Propose to Pay Back Microfinance Debts Over 10 Years, Government Would Repay $25m Upfront
Members of the “No Pago” (No Payment) Movement, in which thousands of Nicaraguan borrowers refused to pay back outstanding loans beginning in 2009, have proposed a deal wherein the government would immediately repay debts to microfinance institutions (MFIs) worth USD 25 million and the debtors would pay the government back over ten years.
MICROCAPITAL BRIEF: US Under Secretary of State Maria Otero: Mobile Money, Policy Reform are Keys to Financial Success
Speaking at a recent panel held by the Brookings Institution, a US-based nonprofit public policy organization, on “Growth Through Innovation in Africa: Mobile Financial Services and Financial Inclusion,” Maria Otero, US Under Secretary of State for Democracy and Global Affairs, argued that mobile money could substantially support financial inclusion efforts.
MICROCAPITAL BRIEF: Indian Microfinance Institution Swadhaar Finserve Private Limited (SFPL) Reports Serving 51,500 Clients in 2011, Earns Honors in Smart Campaign’s Call for “Appropriate Collections Practices Tools”
Swadhaar Finserve Private Limited (SFPL), an Indian microfinance institution, recently received honors for “Appropriate Collections Practices” from the Smart Campaign, an initiative that focuses on client protection in microfinance. According to Smart Campaign Tool Development Specialist Leah Wardle, “SFPL won our Call for Tools because their policies and procedures for collections are a good example of how microfinance institutions (MFIs) can provide staff with clear expectations for dignified treatment of clients during collections processes. From their general code of conduct for collections to their specifics on ethical loan recovery procedures, SFPL’s policies clearly embody elements of our Client Protection Principles.” [1]. Smart Campaign’s Client Protection Principles focus on non-coercive debt collection practices and other aspects of good governance such as avoiding client over-indebtedness, privacy practices and transparent pricing.
MICROCAPITAL BRIEF: LeapFrog Makes $13.5m Equity Investment in Apollo Investments for Microinsurance in Kenya, Uganda, Tanzania
Leapfrog Investments, a private equity fund that supports microinsurance initiatives, recently made a USD 13.5 million equity investment in Apollo Investments Limited, an insurance company that operates in Kenya, Uganda and Tanzania, to improve access to microinsurance for low-income individuals.
MICROCAPITAL BRIEF: Nigerian Microfinance Institutions (MFIs) Continue to Require Collateral, Other Conditions for Loans; Lift Above Poverty Organisation (LAPO) to Cut Interest Rates
Most Nigerian microfinance institutions (MFIs) reportedly continue to place conditions on borrowers who are seeking to take out loans, despite the stated policy of the Central Bank of Nigeria (CBN) to de-emphasize such requirements.
MICROCAPITAL BRIEF: Smart Campaign Releases New Guidance Document, Proposed Revisions to “Client Protection Principles”
The Smart Campaign, a global initiative to improve accountability regarding client protection in the microfinance industry, has released proposed revisions to its “Client Protection Principles”, the campaign’s framework is intended to help microfinance institutions (MFIs) practice good ethics and smart business, as well as a guidance document created to act as a bridge between the principles and practice.
MICROFINANCE EVENT: Microfinance Crisis in India: Local and Global Implications – A Panel Discussion, April 8, 2011, Hosted by the American University, Washington DC, USA
Event Name: Microfinance Crisis in India: Local and Global Implications – A Panel Discussion
Event Date: April 8, 2011, 5.00 pm – 6.30 pm
Event Location: Room 120, School of International Service (SIS), American University, Washington DC