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.
Search Results for: ifc
MICROCAPITAL BRIEF: German Federal Ministry of Economic Cooperation and Development (BMZ) and German Development Bank KfW Launch $150m Fund for Micro, Small and Medium-Sized Enterprises (MSMEs) in Sub-Saharan Africa
The German Federal Ministry of Economic Cooperation and Development (BMZ) and the German development bank KfW recently launched a regional investment fund for micro, small and medium-sized enterprises (MSMEs) in Sub-Saharan Africa.
MICROCAPITAL BRIEF: Microlenders in Nigeria Unite Under the Association for the Survival/Sustenance of Microfinance Institutions (MFIs)
A group of microfinance institutions (MFIs) across Nigeria, including microfinance banks, co-operative societies and NGOs, has joined together to form the Association for the Survival/Sustenance of Microfinance Institutions. The primary goal of the association is to facilitate funding from international financial institutions such as the International Monetary Fund (IMF) and the International Finance Corporation (IFC).
MICROCAPITAL BRIEF: LeapFrog Investments Poised to Invest $30m to $37m in Microinsurance Projects in India
In a recent interview with the Indian online news platform VCCircle, Mr Jim Roth, Principal at LeapFrog Investments, a private equity microinsurance fund, said that of the fund’s USD 110 million in capital, it would commit USD 30 to 37 million to microinsurance products in India.
MICROCAPITAL BRIEF: Asian Development Bank Announces $50m Loan for Three Commercial Banks in Uzbekistan, Ipak Yuli Bank, HamkorBank and Agrobank, to Expand Financing to Micro- and Small Enterprises (MSEs)
The Asian Development Bank, a Manila-based regional development bank, has agreed to loan three Uzbekistani banks a total of USD 50 million and provide a grant of USD 600,000 to grow their financing to micro- and small enterprises (MSEs). The three commercial banks receiving the credit line are Ipak Yuli Bank (IYB), HamkorBank and Agrobank. HamkorBank and Agrobank will each receive USD 20 million, and the remaining USD 10 million will go to IYB. The banks are matching the loan amount from ADB with their own resources on a one-to-one basis.
MICROCAPITAL BRIEF: World Bank Group Database of Remittance Prices Worldwide Finds Average Cost for Sending $200 is Down to 8.72 Percent
The World Bank Group, a group of five organizations with a mission to improve living standards for people in the developing world, has published the fourth iteration of its Remittance Prices Worldwide database.
MICROCAPITAL BRIEF: US-based International Development Non-profit Organization CHF International Sets Up CHF Finance Group to House Its Commercial Microfinance Institution Subsidiaries
CHF International, a US-based international development and humanitarian assistance non-profit organization, has set up a private holding company, CHF Finance Group, to house its commercial microfinance institution (MFI) subsidiaries.
MICROCAPITAL BRIEF: Through its Dexia MicroCredit Fund (DMCF), Swiss Asset Manager BlueOrchard Finance to Provide $5m Loan to Microfinance Provider Belarusian Bank for Small Business (BBSB)
BlueOrchard Finance, a Swiss asset management company, will provide a USD 5 million loan from its Dexia MicroCredit Fund (DMCF) to the Belarusian Bank for Small Business (BBSB), a bank that focuses on micro- and small enterprises.
MEET THE BOSS: Discussions on Impact Investing and the Sarona Frontier Market Fund I, LP: An Interview with Serge LeVert-Chiasson, Vice President of Sarona Asset Management
Sarona Asset Management is a boutique investment firm with the goal of achieving triple bottom line targets: profit for its investors, economic benefit for developing countries and reduced impact on or improvement in a focus on the environment. Its newest fund, the Sarona Frontier Markets Fund, is focused on harnessing the growth and vitality of micro-, small and medium-sized enterprises (MSMEs) in developing countries.
MICROCAPITAL BRIEF: Investment Firms Matrix Partners India, Hivos-Triodos Fonds and Lok Capital LLC Invest $26.5m in Indian BASIX Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL)
Matrix Partners India, a Mumbai-based investment firm, is investing INR 1 billion (USD 22.5 million) in Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution that is a member of the BASIX (Bhartiya Samruddhi Investment & Consulting Service) Group. Two existing investors, Europe-based Hivos-Triodos Fonds and dedicated microfinance institution (MFI) investor Lok Capital LLC, are contributing a further INR 127 million (USD 2.9 million) and INR 55 million (USD 1.2 million) respectively.
MICROCAPITAL BRIEF: India Business Excellence Fund (IBEF), a Private Equity Fund, Invests $4.4m of Equity in AU Financiers, a Non-banking Financial Company Located in India, to Increase Lending to Small Entrepreneurs
The India Business Excellence Fund (IBEF), a private equity fund, will invest INR 200 million of equity, the equivalent of over USD 4.4 million, in AU Financiers, a non-banking financial company located in India, in order to provide loans for “low-income, self-employed, first-venture, and small transport entrepreneurs” in rural and semi-urban areas of states including Rajasthan.
MICROFINANCE EVENT: Chicago Microfinance Conference (CFMC), May 7, 2010, Hosted by the University of Chicago Booth School of Business
Event Name: Chicago Microfinance Conference (CFMC)
Event Date: May 7, 2010
Event Location: University of Chicago Booth School of Business
Event Website: http://www.chicagomicrofinance.com/index.shtml
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) in Azerbaijan, Increases its Share Capital from $27m to $52m
AccessBank, a microfinance institution (MFI) in Azerbaijan, has increased its share capital from AZN 21.8 million, the equivalent of over USD 27 million, to AZN 41.8 million, the equivalent of over USD 52 million. This increase was achieved by capitalizing retained earnings.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), a Microfinance Investment Fund Based in Luxembourg, Signs its Largest Loan Agreement to Date, a $33m Senior Loan to Banca Intesa, Commercial Bank in Serbia, to be On-lent to Micro- and Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a microfinance investment fund based in Luxembourg, has signed its largest loan agreement to date, a EUR 25 million senior loan, the equivalent of over USD 33.5 million, to Banca Intesa, a commercial bank in Serbia, which will be on-lent to micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: Indian Microfinance Funds Seek to Expand Focus Beyond Microcredit
According to a recent article on VCCircle.com, an Indian online news platform, Indian microfinance fund managers are diversifying their investment base to include more areas of social investing, such as microinsurance, micro housing finance, healthcare, mobile payments and rural supply chains.
MICROCAPITAL BRIEF: Agence Française de Développement (AFD) Grants €1m to Microfinance Institution MicroCred Nigeria
Agence Française de Développement (AFD), France’s public development-finance institution, has granted EUR 1 million (USD 1.3 million) to MicroCred Nigeria to help build capacity in Nigeria’s microfinance sector.
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) in Azerbaijan, Issues Shares Worth $24.8m
AccessBank, a microfinance institution (MFI) located in Azerbaijan, has issued shares worth AZN 20 million, the equivalent of over USD 24.8 million.
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) Located in Azerbaijan, Reaches $300m in Loans Disbursed to 100,000 Customers
According to a recent press release, AccessBank, a microfinance institution (MFI) located in Azerbaijan, now has a loan portfolio that is over USD 300 million and over 100,000 customers.