SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has sold a 7.6-percent stake in SKS Microfinance, a for-profit Indian microfinance institution (MFI), to an unspecified buyer.
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MICROCAPITAL BRIEF: Commercial Bank of Africa, Vodacom Tanzania Launch Mobile Money Service “M-Pawa”
The Commercial Bank of Africa (CBA), a privately owned bank that operates in Kenya, Tanzania and Uganda, and Vodacom Tanzania, a subsidiary of UK-based telecommunications company Vodafone Group, recently announced the launch of a money mobile service called M-Pawa.
MICROFINANCE PUBLICATION WRAP-UP: “Spotlight on the Market, The Impact Investor Study;” by Yasemin Saltuk, Ali El Idrissi; published by J.P. Morgan Global Social Finance, Global Impact Investing Network
“Spotlight on the Market, The Impact Investor Study;” published by J.P. Morgan Global Social Finance and Global Impact Investing Network; May 2014; 52 pages; available at http://www.jpmorganchase.com/corporate/socialfinance/document/140502-Spotlight_on_the_market-FINAL.pdf
This study, prepared by US-based financial institution J.P. Morgan and US-based nonprofit Global Impact Investing Network (GIIN), details the findings of the organizations’ fourth annual survey about “impact investments,” which are defined as those made “with the intention to generate social and environmental impact alongside a financial return.”
MICROFINANCE EVENT: Microcredit Summit Campaign, Mexican Ministry of Economy to Host 17th Microcredit Summit “Generation Next: Innovations in Microfinance,” September 3-5, 2014, Merida, Mexico
Event Name: 17th Microcredit Summit “Generation Next: Innovations in Microfinance”
Event Date: September 3-5, 2014
Event Location: Centro de Convenciones Yucatán Siglo XXI, Merida, Mexico
MICROCAPITAL BRIEF: Acumen Fund, Adolf H Lundin Charitable Foundation Invest $1.5m in Farmer Information Service Esoko Networks of Ghana to Expand into East Africa
The Acumen Fund, a New York-based nonprofit venture fund, and the Adolf H Lundin Charitable Foundation, a Liechtenstein-based nonprofit organization, have invested an aggregate sum of USD 1.5 million in an unspecified combination of equity and debt in Esoko Networks Limited (Esoko) of Ghana, a technology platform that aims to strengthen the connection between farmers and markets in Africa with the use of mobile phones.
MICROCAPITAL BRIEF: First Gulf Bank, Monitise to Launch Mobile Banking Services in Middle East
First Gulf Bank (FGB), a commercial bank based in the United Arab Emirates, and Monitise, a UK-based facilitator of mobile money services, reportedly have announced a partnership to offer unspecified “new mobile banking services to clients in the Middle East”[1].
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Introduces FINclusion Lab, Offering Country-Specific Financial Inclusion Data Visualization and Analysis
The Microfinance Information Exchange (MIX), a US-based nonprofit, recently announced the launch of FINclusion Lab, a platform that provides interactive visual interpretation and analysis of country-specific data pertaining to financial services activities in Africa, Asia and Latin America [1].
MICROCAPITAL BRIEF: Airtel, Ghana Post to Expand Mobile Money Service “Airtel Money” to 350 Post Offices
Airtel Ghana, a subsidiary of Indian telecommunications company Bharti Airtel, and Ghana Post, the country’s postal service provider, reportedly have announced a partnership to expand the availability of the Airtel Money service from the previous 150 to all 350 Ghana Post outlets nationwide.
MICROFINANCE PUBLICATION ROUND-UP: Over-indebtedness in Mexico; Achieving Customer Centricity; Managing Over-indebtedness
“Over-Indebtedness in Mexico: Its Effect on Borrowers;” published by Microfinance CEO Working Group; May 2014; 32 pages; available at http://microfinanceceoworkinggroup.org/wp-content/uploads/2014/05/Over-Indebtedness-in-Mexico-Its-Effect-on-Borrowers-552014.pdf
This report cautions lending institutions in Mexico about rising levels of over-indebtedness – meaning more borrowers cannot reasonably repay their debts – which can threaten the financial system as well as the economic outlook of low-income individuals.
MICROFINANCE EVENT: G20 Young Entrepreneurs’ Alliance Summit 2014, July 18-22, 2014, Sydney, Australia
Event Name: G20 Young Entrepreneurs’ Alliance Summit 2014
Event Date: July 18-22, 2014
Event Location: Sheraton on the Park Hotel, Sydney, Australia
MICROFINANCE PUBLICATION ROUND-UP: Islamic Social Finance, Transforming Client Complaints into Loyalty, Microinsurance Profitability
“Islamic Social Finance Report 2014,” by Thomson Reuters and the Islamic Research and Training Institute, published by Zawya, 2014, 64 pages, available at: http://www.zawya.com/islamic-finance/isfr/
This report examines opportunities and challenges for Islamic social finance in Bangladesh, Brunei Darussalam, India, Indonesia, Malaysia, Pakistan and Singapore.
MICROCAPITAL BRIEF: Global Systems for Mobile Association Assists 9 Cellular Network Providers in Africa, Middle East With Mobile Money Interoperability
Global Systems for Mobile Association, a UK-based association of mobile operators and associated companies, reportedly is helping coordinate the deployment of mobile money services for nine mobile network providers operating in Africa and the Middle East.
MICROCAPITAL BRIEF: Postal Service Azerpoçt to Provide Microcredit in Azerbaijan
Azerpoçt, Azerbaijan’s government-backed postal service provider, reportedly intends to apply for a license to provide microcredit services from the Central Bank of Azerbaijan.
MICROCAPITAL BRIEF: Airtel Ghana, MicroEnsure, Enterprise Life Roll Out Free Mobile Accident Insurance in Ghana
Airtel Ghana, a subsidiary of Indian telecommunications company Bharti Airtel; MicroEnsure, a UK-based microinsurance company founded by US-based Opportunity International; and Enterprise Life, an insurance company that is part of Ghana-based Enterprise Group, recently announced that 100,000 Airtel Ghana customers have registered for Airtel Insurance.
MICROFINANCE PUBLICATION ROUND-UP: Mobile Money Agents in Uganda; Sustainable Microfinance; Mobile Money for the Global Unbanked
“Agent Network Accelerator Survey: Uganda Country Report 2013;” published by Helix Institute of Digital Finance; January 2014; 26 pages; available at http://www.helix-institute.com/data-and-insights/agent-network-accelerator-survey-%E2%80%93-uganda-country-report-2013-0
This document presents the results of a study conducted by the US-based nonprofit Bill and Melinda Gates Foundation and India-based for-profit consultancy MicroSave that seeks to identify the challenges, trends and successes of the mobile money market in Uganda by surveying 2,000 agents.
MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya
The Communications Commission of Kenya (CCK), the regulatory authority for the telecommunications sector of the country, recently granted mobile virtual network operator (MVNO) licenses to Finserve Africa Limited, a subsidiary of Kenya’s Equity Bank, and two Kenyan mobile money transfer services, Tangaza Mobile Pay Limited and Zioncell Kenya Limited.
MICROCAPITAL BRIEF: China Commercial Credit Launches Online Loan Portal “Pride Lending Group”
China Commercial Credit, a microcredit company based in the Chinese city of Suzhou, recently announced that it has launched an online lending portal called Pride Lending Club.
MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast
Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast.