by Charlotte Newman -

MICROCAPITAL BRIEF: Women Advancing Microfinance – New York (WAM-NY) Offering Training Scholarships for Female Microfinance Practitioners

Women Advancing Microfinance – New York (WAM-NY), a US-based organization that supports women working in microfinance, has announced that it is offering scholarships for selected women to attend training programs to strengthen their skills and access leadership opportunities.

by Natalie Baer -

MICROCAPITAL BRIEF: Development Seed, Key2Flex Offer Geospatial Technology Services to Analyze Availability of Financial Services in Developing Countries

Geospatial mapping is being used to show the geographic distribution of banks, automated teller machines (ATMs) and banking agents in relation to low-income and other population groups, thus giving an indication of the accessibility of financial services to those groups.

by Ariana Malushi -

MICROCAPITAL BRIEF: IFC Advising FINO in Effort to Extend Financial Services to 100m Indians Over 3 Years

The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to provide advisory support to Indian for-profit technology and services provider Financial Information Networks and Operation (FINO) in its goal to bring financial products such as microinsurance, remittance and deposit services to 100 million clients in India over the next three years.

by Ariana Malushi -

MICROCAPITAL BRIEF: United Nations Capital Development Fund (UNCDF) Event Highlights SafeSave’s Asset-Building Microloan Product “P9”

The United Nations Capital Development Fund (UNCDF) recently hosted an event entitled “How Can Microfinance Extend Social Protection in Asian Lesser Developed Countries (LDCs)?”  The P9 program, which was developed by Bangladeshi microbank SafeSave, was highly praised.

by Kristha Abores -

MICROCAPITAL BRIEF: Participatory Microfinance Group for Africa (PAMIGA) Collaborates with MicroLead Program to Open Office in Ethiopia, Support Microsavings Services of Buusaa Gonofaa, Wasasa

The Participatory Microfinance Group for Africa (PAMIGA), a Paris-based microfinance network, has opened an office in Ethiopia with the support of the United Nations Capital Development Fund (UNCDF) MicroLead Program, which aims to promote microsavings.

by Kristha Abores -

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2010 Latin America & the Caribbean Regional Snapshot

The Microfinance Information Exchange (MIX), a US-based nonprofit organization that publishes financial and social performance information from microfinance stakeholders, recently released an analysis of microfinance institutions (MFIs) in Latin America and the Caribbean based on 2010 data.

by Kristha Abores -

MICROCAPITAL BRIEF: United Nations Capital Development Fund Seeks Financial, Technical Service Providers to Expand Savings Microfinance Program MicroLead

The United Nations Capital Development Fund (UNCDF), an agency that provides investment capital and technical advice to developing countries, has launched a request for applications for the expansion of its MicroLead program, which seeks to support financial service providers and technical service providers in expanding the availability of savings services to new markets in Sub-Saharan Africa [1].

by Kristha Abores -

MICROCAPITAL BRIEF: Women’s World Banking, Microfinance Institution Asociación Dominicana para el Desarrollo de la Mujer (Banco ADOPEM) Use Television Soap Opera to Teach Savings

Women’s World Banking (WWB), a US-based microfinance network, and Asociación Dominicana para el Desarrollo de la Mujer (Banco ADOPEM), a microfinance institution (MFI) based in the Dominican Republic, recently launched a television series intended to teach women how to manage their money and build savings.

by Nisha Koul -

MICROCAPITAL BRIEF: Alliance for Financial Inclusion’s Global Policy Forum Concludes with Signing of Maya Declaration on Financial Inclusion

The Alliance for Financial Inclusion (AFI), a Thailand-based network of policymakers that works towards increasing access to financial services for poor people, concluded its Global Policy Forum in Mexico recently with representatives of central banks and financial regulators from developing countries signing the Maya Declaration on Financial Inclusion [1].

by Nisha Koul -

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Launches Fee-Based “MIX Silver”

The Microfinance Information Exchange (MIX), a US-based nonprofit organization that publishes financial and social performance information from microfinance stakeholders, recently announced the launch of a fee-based service that offers the ability to: create a personalized dashboard to track real-time changes in microfinance markets; build virtual microfinance institution portfolios for analysis; access benchmarking and aggregation tools; and access all interim and annual data for approximately 2,000 MFIs in the MIX database [1].

by Kristha Abores -

MICROCAPITAL BRIEF: Two Papers Released by Microfinance Information Exchange Discuss Impacts of Financial Crises, Reporting Requirements

The US-based nonprofit Microfinance Information Exchange (MIX) has released two papers that offer insight into different issues faced by microfinance institutions (MFIs).

by Ashim Kar -

MICROFINANCE EVENT: 2011 Toronto International Microfinance Summit, Toronto, Canada, September 16 to September 17

Event Name: The 2011 Toronto International Microfinance Summit: From Microcredit to Financial Inclusion: Making a Difference in our World

Event Date: Fundraising gala: September 16, 2011; “the micro way” conference: September 17, 2011

Event Location:
Fundraising gala: Arcadian Court, Simpson Tower, Toronto, Ontario, Canada
“The micro way” conference: Allstream Centre, Exhibition Place, Toronto, Ontario, Canada

by Carol Kim -

MICROCAPITAL BRIEF: Uganda Launches “Youth Entrepreneurship Venture Capital Fund”; Mobile Telecommunications Network (MTN), Uganda Youth Convention (UYC), Financial Empowerment Network (FEN) Launch Microfinance Savings Plan

Both the government of Uganda and a joint effort by Mobile Telecommunications Network (MTN), a mobile telecommunications company based in South Africa; Uganda Youth Convention (UYC), platform for empowerment and enterprise for youth; and Financial Empowerment Network (FEN), a local venture capital firm, recently launched programs to promote entrepreneurship and a “savings culture” among youth at a Job Convention for the Bunyoro Region of Uganda.

by Alex Pattee -

MICROCAPITAL BRIEF: Financial Sector Deepening, Microfinance Opportunities Announce “Financial Diaries” Research Indicating M-Pesa Users Better Prepared for Health Emergencies, Most E-Money Transfers Are Among Family, Friends

Financial Sector Deepening Kenya (FSD Kenya), a Kenyan trust that seeks to develop the capacity of the financial services industry, in partnership with Microfinance Opportunities, a microenterprise resource center based in Washington, DC, recently hosted a workshop on “financial diaries”, which are year-long surveys that examine financial management in poor households. The following findings, based on the implementation of the diaries in Kenya, were announced: 1) low-income households handle “a lot of cash” on a weekly basis, 2) 95 percent of transactions are in cash, with the remaining 5 percent made through M-Pesa, 3) 80 percent of e-money flows are among family and friends, 4) 75 percent of M-Pesa remittances are cashed out, mostly within a day and 5) M-Pesa users are “less vulnerable to health shocks” [1].

by Alex Pattee -

MICROCAPITAL BRIEF: Microfinance Institution (MFI) Fonkoze Initiates Claims Process for Clients Affected by Heavy Rains in Haiti

Fonkoze, a Haiti-based microfinance institution (MFI), has initiated the claims process for its clients that were affected by recent heavy rains in Haiti. Torrential rains have caused mudslides, flooding and widespread destruction of property in Haiti during June 2011. In response, Fonkoze will be making payments under its catastrophe recovery product, which was launched in January 2011 as a required add-on bought by all Fonkoze clients at the time of their loan disbursement. Clients who have lost their homes or their business as a result of the rains will receive a cash payout of HTG 5,000 (USD 125) to meet emergency needs such as food, shelter, water and temporary shelter. Fonkoze reports, “these clients will also receive a reimbursement of the balance of their existing loan and a new loan when they are ready to restart their business” [1].