The Partnership for Lebanon (PFL), an organization focused on creating sustainable social and economic growth in the region, recently hosted an event highlighting the creation of several new initiatives by some partner organizations. The event brought together Lebanese business sector leaders, economic organizations, various governmental entities, press and partners. Cisco Systems and Intel Corporation were a few of the organizations on hand to present the new programs. Continue Reading »

Microcapital has identified the following six microfinance “pioneers,†individuals who have made long-standing contributions to the evolution and promotion of microfinance practices and/or technology. While not all of these pioneers hail from Latin America, all have been instrumental to the development of microfinance in that region. These pioneers are: Ãlvaro Dávila of Colombia, Joseph Blatchford of the USA, Theodore C. Ning, Jr. of the USA, Mercedes Canalda de Beras-Goico of the Dominican Republic, Clara Serra de Akerman of Colombia, and José Ignacio Avalos Hernánde of Mexico. Below are short descriptons of the contributions of each: Continue Reading »

Source: Nhan Dan.

Continue Reading »

Source: Global Partnerships.
Continue Reading »

Vikram Akula, founder of SKS Microfinance (SKS ), has announced plans to step down from the role of CEO after 10 years.  Mr. Akula says that this change will allow him to focus on a new initiative - microinsurance.  As MicroCapital reported earlier this year, SKS partnered with Bajaj Allianz Life Insurance Company to offer insurance products toclients.  This announcement comes amid rapid growth in the company. Suresh Gurumani, Director, Barclays Bank, will take over as SKS Microfinance’s CEO.  An official transition date was not given.  

Continue Reading »

The nineteen awardees of the Royal Bank of Scotland and PlaNet Finance India’s Microfinance Process Excellence Awards were announced recently at a conference in Delhi. They were the third annual awards and the winners for the awards were selected from a pool of 67 nominees, which were shortlisted after receiving applications from the initial pool of applicants. The award winners were announced at the Microfinance India Summit 2008, held Nov. 11^th to 13^th in New Delhi. National winners for the three categories of awards were Nirantara Community Services, Arohan, and Sanghamithra. Continue Reading »

United States Agency for International Development (USAID) recently published a note about efforts in India to provide an integrated approach in addressing poverty alleviation, global health and energy. Shortage of cooking fuel is a key problem in India where approximately 260 million of the country’s total 1.2 billion population live below the poverty line. Some households burn cow dung cakes as an alternative fuel source, creating environmental hazards and causing harmful health consequences, including acute respiratory infections in children. According to a 2006 Shell Foundation Report, deaths linked to biomass smoke exposure compete with malaria as the leading cause of death in adults in developing nations every year. Continue Reading »

NOVEMBER 20, 2008, 12:00pm  to 4:00pm   Continue Reading »

Source: AccessBank.

Continue Reading »

ClassifEye, a developer of secure fingerprint authentication technology, announced that Cashpor India, an Indian microfinance institution (MFI), has adopted ClassifEye’s camera-phone-based transactions and authentication solution. Casphor hopes to broaden its customer base and allow their agent-serviced customers to improve their financial reach. Cashpor India is piloting the service in parts of Uttar Pradesh and Bihar. Continue Reading »

SKS Microfinance Pvt. Ltd. has announced the closing of a fourth round of equity financing in which it raised Rs 366 crore, approximately USD 75.4 million.  The transaction was led by Sandstone Capital, a U.S. hedge fund based in Boston, MA.  Also participating in the transaction were existing investors Kismet Capital and SVB India Capital Partners, an affiliate of Silicon Valley Bank.  Edelweiss Capital was the investment banker to the issue. Continue Reading »

NOVEMBER 18 TO NOVEMBER 20, 2008, INTERNET FORUM BY MICROLINKS

Over the course of three days, MicroLinks will host a “Speaker’s Corner†entitled “Microfinance and Climate Change: Can Microfinance Institutions (MFIs) Promote Environmental Sustainability?† Speaker’s Corner events are online conferences or forums for the purpose of engaging current microenterprise and microfinance issues.  This forum will be hosted by Dan Lundmark, a documentary producer and director currently working on a film highlighting the environmental policies and impacts of MFIs and microenterprises in Latin America, Africa, and Asia.  Several panelists will join the forum from GreenMicrofinance: Joan Hall, Elizabeth Israel, Thomas Israel, Kathleen Robbins, Betsy Teutsch, and Bela Vora.  Panelists from Indian MFIs will include Manab Chakraborty from MIMO Finance, Paul Moonjely from Wesco Credit, and Paul Thomas from the Evangelical Social Action Forum (ESAF). Continue Reading »

NOVEMBER 18 TO 20, 2008, INTERNET CONFERENCE HOSTED BY CGAP

The Consultative Group to Assist the Poor (CGAP) will host a three-day virtual conference entitled “The Financial Crisis and Microfinance: Experience, Insights, and Implications.â€Â  CGAP hopes that virtual participants will share their experiences and insights on the financial crisis and its effects on microfinance and the global poor, and that the discussion will involve all types of microfinance players—microfinance institutions (MFIs), clients, and donors and investors.  Continue Reading »

Source: VC Circle.
Continue Reading »

The Central Bank of Nigeria (CBN) has announced a new condition of receiving Microfinance Bank (MFB) licenses.  Going forward, only microfinance institutions that are ready to operate in rural areas will be given licenses.  This new condition follows the recent statements, reported on MicroCapital, by Charles Soludo, Governor of the CBN, that only 12 of 36 Nigerian states contribute to microfinance.  On a combined basis, these 12 states have contributed USD 1.26 million to microfinance.  The new condition is an attempt to create more balance in the availability of financial services across the rural and urban areas.  Mr. Tunde Lemo, Deputy Governor, Financial Sector Surveillance, CBN, said that the central bank will give special, rapid consideration to any microfinance institutions seeking to begin operations in rural, underserved  states. 

Continue Reading »

The International Finance Corporation (IFC) has announced in a press release that it will explore emerging microfinance investment opportunities in Southern Sudan. Jean Philippe Prosper, the IFC Director for Southern and Eastern Africa recently visited Southern Sudan and reported that, “More stable conditions on the ground and an improved business environment have created the right conditions for IFC and other investors to consider new investments in Southern Sudan”. An investment climate team from IFC and FIAS, a multidonor investment climate advisory service of the World Bank Group, has been providing assistance to Southern Sudan since 2006. Continue Reading »

Microcapital has identified the following five Asian microfinance “pioneers,” individuals who have made long-standing contributions to the evolution and promotion of microfinance practices and/or technology in Asia:  Mechai Viravaidya of Thailand, Anton Soedjarwo of Indonesia, Vijay Mahajan of India, Bambang Ismawan of Indonesia, and Karunawathie Menike of Sri Lanka.  Below are short descriptons of the contributions of each: Continue Reading »

Source: Classifeye.
Continue Reading »