In its first five years of operation, EB-ACCION Microfinance, a microfinance institution (MFI) based in Cameroon, expects to open 71,000 savings accounts, accumulating total deposits of USD 30.8 million while serving 28,400 borrowers with an outstanding loan portfolio of USD 32 million [1].
Search Results for: "accion international"
MICROCAPITAL BRIEF: ACCION Microfinanças of Manaus, Brazil Begins Disbursing Microfinance Loans
ACCION Microfinanças, a microfinance institution (MFI) operating in Brazil as a subsidiary of US-based nonprofit ACCION International, recently disbursed its first loan. Officially established in December 2010, ACCION Microfinanças aims support to poor people and small and medium-sized enterprises (SMEs) in the Amazon region through access to microcredit.
MICROCAPITAL BRIEF: ACCION’s Centre for Financial Inclusion Offers Lessons Learned from Nicaraguan Microfinance Crunch, Reiterates Six-Point Agenda For “Recalibration” of Industry Worldwide
The Centre for Financial Inclusion, a division of US-based nonprofit ACCION International, recently released an overview of lessons that can be taken from the Nicaraguan microfinance downturn. Triggered by a combination of the global economic downturn and the “No Pago” (No Payment) Movement, which was encouraged by the Nicaraguan government, the result was a reduction in the aggregate microloan portfolio from USD 420 million in 2008 to USD 170 million in 2011, a fall in the number of clients served from 324,000 to 225,000 and estimated portfolio at risk rising to 19 percent [1].
MICROFINANCE EVENT: Opportunity Fund, ACCION and Kiva Present Microfinance USA Conference 2011 in New York, May 23 – 24
Event Name: Microfinance USA Conference 2011
Event Date: May 23 – May 24, 2011
Event Location: Metropolitan Pavilion, New York, NY
MICROCAPITAL BRIEF: MFX Solutions Publishes “Risky Business: An Empirical Analysis of Foreign Exchange Risk Exposure in Microfinance”
MFX Solutions Incorporated, a company based in Washington, DC, that provides currency hedging solutions for microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), today published a study on currency risk exposure.
MICROCAPITAL PAPER WRAP-UP: Do Multiple Financial Services Enhance the Poverty Outreach of Microfinance Institutions?, by Koen Rossel-Cambier, Published by Centre Emile Bernheim and Solvay Brussels School
By Koen Rossel-Cambier, published by Centre Emile Bernheim and Solvay Brussels School, December 2010, 41 pages, available at: http://www.microfinancegateway.org/p/site/m/template.rc/1.9.49256/
MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in India Take Legal Action Against Yes Bank for Loan Recall
Several microfinance institutions (MFIs) in India announced that they will be taking legal action against Yes Bank, a private-sector bank headquartered in Mumbai, for recalling loans totaling several billion rupees (the equivalent of tens of millions of US dollars).
MICROCAPITAL BRIEF: Lok Capital Announces $52m Close for Indian Microfinance Fund, Lok II
Lok Advisory Services, an Indian firm that manages two microfinance investment vehicles (MIVs) based in Mauritius, has reportedly announced the first close of USD 52 million for its second fund, Lok Capital II.
MICROCAPITAL EVENT: HBS-ACCION Program on Strategic Leadership for Microfinance, Harvard Business School, Boston, Massachusetts, USA, April 25-30, 2011
Event Name: HBS-ACCION Program on Strategic Leadership for Microfinance
Event Date: April 25 – April 30, 2011
Event Location: Harvard Business School, Boston, Massachusetts, USA
MICROCAPITAL BRIEF: ACCION USA’s President Gina Harman Argues Microfinance Can Grow Small Business in the US “On a Much Larger Scale”
Gina Harman, President and CEO of ACCION USA, an affiliate of ACCION International, a private, US-based nonprofit organization with a global network of microfinance institutions (MFIs), recently argued on the Huffington Post website that microfinance now offers an unprecedented opportunity for job creation in the US.
MICROCAPITAL BRIEF: United Kingdom’s CDC Group Invests $10m in Lok Capital II, Private Equity Fund Focused on Microfinance in India
CDC Group, the UK’s government-owned development finance institution, recently invested USD 10 million in Lok Capital II, a private equity fund managed by Lok Capital, partner organization of the non profit Lok Foundation based in New York City, USA.
MICROCAPITAL EVENT: Center for Financial Inclusion (CFI) Hosts “Understanding Failures in Microfinance” in Washington, DC on September 22, 2010
Event Name: Understanding Failures in Microfinance
Event Date: September 22, 2010
Event Location: Center for Financial Inclusion, Washington, DC, USA
MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $4.5m from Lok Capital and Aavishkaar Goodwell
Suryoday Microfinance Private Limited, an Indian non-banking financial company (NBFC), recently announced the closing of its Series B equity financing for a total of INR 175 million (USD 3.8 million), provided by Lok Capital, a new investor in the company, and Suryoday’s existing investor Aavishkaar Goodwell, both of which are social investment/microfinance equity funds operating in India.
MICROCAPITAL BRIEF: Total Number of Microfinance Organizations Endorsing the SMART Client Protection Principles Reaches 528
This month, the number of microfinance organizations endorsing the SMART Campaign, an initiative housed at the Center for Financial Inclusion reached 528, with the latest endorser being Finance in Motion, a Frankfurt-based asset management firm focused on development finance.
MICROCAPITAL BRIEF: Study by ACCION’s Center for Financial Inclusion Outlines Best Practices of For-Profit Microfinance Institutions (MFIs) to Preserve Social Objectives
Elisabeth Rhyne, the Managing Director of the Center for Financial Inclusion, an organization founded by US-based nonprofit ACCION International, wrote an article that recently appeared on The Huffington Post website [1] outlining best practices that could help nonprofit microfinance institutions (MFIs) keep their social mission while transforming themselves into for-profit operations.
MICROCAPITAL BRIEF: World Bank, ACCION’s Center for Financial Inclusion Host Discussion on Access to Microfinance for Disabled People
The Center for Financial Inclusion of US-based nonprofit ACCION and the World Bank’s Global Partnership for Disability and Development recently hosted a roundtable discussion titled ‘A New Financial Access Frontier: People With Disabilities,’ to discuss the facilitation of financial access for disabled individuals in developing countries [1].
MICROCAPITAL BRIEF: Indian Microfinance Institutions (MFIs) Receive $84m in Private Equity Investment in the First Half of 2010
Indian microfinance institutions (MFIs) have reportedly attracted private equity investment totaling INR 3.86 billion (USD 84 million) between January and June of this year – an increase of approximately 15 percent over the first half of 2009. According to unnamed “industry experts,” the increase is a result of the high profitability of the majority of Indian MFIs, brought about by the high interest rates that MFIs charge (30-60 percent per year) and high repayment rates (exceeding 95 percent).
MICROCAPITAL BRIEF: Populist Governments Propose Interest Rate Caps and Other Public Interventions on Latin American Microfinance Institutions
Populist governments in Latin America are attempting to favor microborrowers by proposing interest rate caps and other public interventions, as is described in a recent article written by Ms Elisabeth Rhyne, managing director of the Center for Financial Inclusion at ACCION International, and published in the Huffington Post. [1]