by Eric McKay -

MICROCAPITAL BRIEF: Microfinance Institution (MFI) Advans Banque Congo Increases Capital to $13m

Advans Banque Congo, a microfinance institution (MFI) operated by Luxembourg-based Advans SA, recently met the Congolese central bank’s requirement of a minimum of USD 13 million in capital. The new capital was provided by existing shareholders Advans SA, the African Development Bank (AfDB), the German development bank KfW, and the World Bank’s International Finance Corporation (IFC).

by Zoran Stanisljevic -

MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs): Interview with Gil Crawford, Chief Executive Officer of MicroVest Capital Management

Mr. Crawford is Chief Executive Officer of MicroVest Capital Management, responsible for the development, management and growth of MicroVest, including developing and implementing business development strategies and supervising investment deals. He led the launch of MicroVest I, LP, a commercial private equity vehicle focused on microfinance in North America. He has over 20 years of experience with microfinance institutions (MFIs) and capital markets and has worked in Latin America, Africa and Asia. 

Previously, Mr. Crawford worked for the Latin American Financial Markets Division at the International Finance Corporation (IFC), created and ran Seed Capital Development Fund and was the Assistant Project Director for Africa Venture Capital Project. Mr. Crawford received his bank training at Chase Manhattan Bank in the mid 1980’s after working in Africa for the Red Cross and the US State Department. He graduated from Johns Hopkins University School of Advanced International Studies (SAIS) (US) in 1983 and Bates College (US) in 1980.

by Eric McKay -

MICROCAPITAL BRIEF: Letshego Holdings of Botswana to Finalize $8.2m Sale of Two Subsidiaries in Order to Focus on Microfinance Activities in Sub-Saharan Africa

Letshego Holdings Limited, a sub-Saharan financial services provider, will soon finalize the sale of Letshego Guard and Letshego Guard Insurance Company to Botswana Insurance Holdings Limited (BIHL), an insurance company based in Botswana, for BWP 57 million (the equivalent of USD 8.2 million). Letshego Holdings will reportedly sell the insurance-related subsidiaries so that it can direct its resources to its consumer lending program. The capital raised through the sale will allow Letshego Holdings to expand its lending activities in Mozambique, Namibia, Swaziland, Uganda, and Zambia.

by Christopher Maggio -

MICROCAPITAL BRIEF: International Finance Corporation and KfW Entwicklungsbank to Establish Microfinance Institutions (MFIs) in Zambia and Senegal in 2010

The International Finance Corporation (IFC), the investment arm of the World Bank, and KfW Entwicklungsbank (KfW), a state-owned development bank based in Germany, have announced that they will establish microfinance institutions (MFIs) in Zambia and Senegal in 2010.

by Christopher Maggio -

MICROCAPITAL BRIEF: Hattha Kaksekar Limited (HKL) and Angkor Mikroheranhvatho Kampuchea (AMK), Two Microfinance Institutions (MFIs) Located in Cambodia, Receive Deposit-Taking Licenses

Hattha Kaksekar Limited (HKL) and Angkor Mikroheranhvatho Kampuchea (AMK), two microfinance institutions (MFIs) located in Cambodia, have received a deposit-taking license from the National Bank of Cambodia, the central bank of Cambodia.

by Christopher Maggio -

MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution Based in Azerbaijan, Submits Pricing Data to MFTransparency, Provider of Pricing Data for the Microfinance Industry

AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently submitted pricing data for its loan products to MFTransparency, an organization that provides pricing data for the microfinance industry.

by Zoran Stanisljevic -

MEET THE BOSS: Discussions on Developing a Global Credit Ratings Framework for Microfinance Institutions: Interview with Damian von Stauffenberg, Founder and Chairman of MicroRate

Damian von Stauffenberg is the founder of MicroRate, a rating agency specializing in microfinance.  Mr. von Stauffenberg founded MicroRate in 1997 and served as its CEO until 2009.  Through its Latin American and African subsidiaries, MicroRate has conducted over 400 ratings of microfinance institutions in Latin America, Africa and Eastern Europe. 

Mr. von Stauffenberg previously worked for 25 years at the World Bank and its private sector affiliate, the International Finance Corporation (IFC).  He has been president of Seed Capital Development Fund (SCDF), chairman of the investment committee of ProFund, chairman of the executive committee of MicroVest and a member of the executive committee of the Latin American Challenge Investment Fund (LA-CIF).

by Stefanie Rubin -

MICROCAPITAL BRIEF: Mr Vijay Mahajan and Mr P N Vasudevan Debate Self-Regulation in Indian Microfinance Industry

Mr Vijay Mahajan, Chairman of BASIX and a Board Member of CGAP (Consultative Group to Assist the Poor), and Mr P N Vasudevan, Managing Director of Equitas Micro Finance, recently published an article entitled, ‘Microfinance in India: Twin Steps towards Self-Regulation.’

by Stefanie Rubin -

MICROCAPITAL BRIEF: ESPA VINIS Microfinance Fund of Austria Invests in European Fund for Southeast Europe (EFSE)

ESPA VINIS Microfinance Fund is the newest private investor in the European Fund for Southeast Europe (EFSE), a EUR 715 million (USD 1 billion) investment fund that focuses on economic development.

by Radhika Chandrasekhar -

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends $5m Long-term Loan to Kyrgyz Investment and Credit Bank (KICB) for On-Lending to Small and Medium Enterprises (SMEs)

The European Bank for Reconstruction and Development recently provided Kyrgyz Investment and Credit Bank (KICB) with a USD 5 million long-term loan for on-lending to small and medium enterprises (SMEs) in the Kyrgyz Republic.

by the MicroCapital Team -

MEET THE BOSS: Isabelle Levard, Deputy CEO of MicroCred, a member of the PlaNet Finance Group

Isabelle Levard is Deputy CEO of MicroCred, a member of the PlaNet Finance Group.

MicroCapital: Please describe MicroCred.

Isabelle Levard: MicroCred is an investment company founded by PlaNet Finance that creates, builds and manages microfinance institutions.