Tag: microfinance

Anti-poverty banker to star in The Simpsons

Anti-poverty banker to star in The Simpsons

The Bangladeshi anti-poverty banker Muhammad Yunus is to feature in an episode of hit TV cartoon The Simpsons. Yunus, whose pioneering work on micro-finance earned him the Nobel Peace Prize in 2006, will appear in the TV show as a cartoon version of himself. The episode will focus on his micro-credit work in Bangladesh, which […]

July 27, 2010 More
BlueOrchard plans to expand microfinance

BlueOrchard plans to expand microfinance

BlueOrchard, the world’s biggest private sector investor in microfinance loans, has raised $195 million for a fund to help microfinance institutions (MFIs) expand and modernise. The private equity fund will buy minority stakes in MFIs to pay for their expansion and modernisation. BlueOrchard claims many MFIs need capital injections to improve their corporate governance and […]

July 22, 2010 More
SKS Microfinance announces IPO

SKS Microfinance announces IPO

India’s first microfinance institution (MFI) to issue public shares has announced its initial public offering (IPO) will open on 28 July. SKS Microfinance will announce the issue price on 26 July and is considering offering a discount to retail investors. The company plans raise Rs. 1,500cr ($320 million) from the IPO with the shares sold […]

July 20, 2010 More
Microfinance defies economic slowdown

Microfinance defies economic slowdown

Microfinance is one of the few sectors to have escaped the impact of the financial slowdown, according to a new report published this week. Unitus-Hewitt Microfinance Compensation & Benefits Survey found employee compensation in India-based microfinance institutions (MFIs) has held steady through the recession. Looking at employee compensation is a considered a reliable measure of […]

June 8, 2010 More
Nobel laureate warns against microfinance loan sharks

Nobel laureate warns against microfinance loan sharks

Investors looking to profit from microfinance are no better than loan sharks, a pioneer of the industry has claimed. Nobel laureate Muhammad Yunus said he is concerned that investment funds are viewing microfinance as a way to make a profit. “Poor people should not be presented as an opportunity to make money,” said the Bangladeshi […]

June 4, 2010 More
Nestle opposes corporate philanthropy

Nestle opposes corporate philanthropy

Companies should not waste shareholders’ money on philanthropy, the chairman of Nestle claimed this week. Peter Brabeck-Letmathe, chairman of the Switzerland-based food giant, said corporate philanthropy is a “misuse” of shareholder money, Bloomberg reports. “I’m personally very much against corporate philanthropy,” Brabeck said in a television interview. “You shouldn’t do good with money which doesn’t […]

May 11, 2010 More
Citigroup gives $1m to microfinance in Haiti

Citigroup gives $1m to microfinance in Haiti

Citigroup has pledged $1 million in grants to local microfinance groups across Haiti. The money will be distributed via three microfinance providers, and will help to rebuild the country’s microfinance industry, The industry, together with the rest of the country, was devastated by the January earthquake in Leogane. SOGESOL, Fonkoze and FINCA Haiti will use […]

May 6, 2010 More
Microfinance loan rates to be published online

Microfinance loan rates to be published online

The interest rates charged on microfinance loans given to the rural and urban poor in India will soon be available online. The decision by the newly-formed Microfinance Institutions Network (MFIN), a self-regulatory body, comes after criticism of the excessive rates charged by some microfinance providers. Microfinance institutions (MFIs) in India charge interest rates upward of […]

April 23, 2010 More
Microfinance: robbing the poor to feed the rich?

Microfinance: robbing the poor to feed the rich?

India-based SKS Microfinance has announced an initial public offering (IPO) which is expected to raise $250-$350 million in shareholder investments. The IPO is the first by an Indian microfinance company, and has sparked a debate around the ethics of profiting from the poor. Some argue that the IPO is necessary after microfinance firms (MFIs) reach […]

April 9, 2010 More
Ethical finance popular at business schools

Ethical finance popular at business schools

Business schools are increasingly attracting students with a social conscience, new research has found. A poll of business schools by Bloomberg BusinessWeek found that one in five has seen an increase in the number of applicants interested in microfinance, sustainability, social enterprise, and nonprofits. “It seems like every other [application] I look at is talking […]

April 6, 2010 More
ABP puts $30m into microfinance

ABP puts $30m into microfinance

Dutch pensions giant ABP has invested $30 million in a global private equity microfinance fund from Grassroots Capital. The move brings ABP’s total holdings in microfinance debt and private equity to $215 million. “This kind of investment is particularly suitable for a pension fund, as it aims to achieve double bottom line returns,” said Jan […]

April 2, 2010 More
EU sets up micro-finance fund to help unemployed

EU sets up micro-finance fund to help unemployed

Unemployed people across Europe will be given the opportunity to set up their own business with money from a new EU micro-loan fund. Up to 45,000 budding entrepreneurs could be helped by the initiative over the next eight years. The €100 million fund was announced this week by the European Union’s Employment and Social Affairs […]

March 9, 2010 More
Microfinance loans to help needy in Bahrain

Microfinance loans to help needy in Bahrain

A new microfinance bank in Bahrain is set to help thousands of needy families. The Family Bank, a joint initiative between Bahrain’s Social Development Ministry and the Grameen Bank, will offer loans of between 150 and 7,000 Bahrain Dinars (between £250 and £11,500). “The idea is to make needy and creative Bahraini families self dependent […]

January 15, 2010 More
Equity named microfinance bank of the year

Equity named microfinance bank of the year

Equity Bank has secured the accolade of Africa’s microfinance bank of the year for the second year running. The Kenyan microfinance provider was announced as the winner at the 2009 African Bankers Awards in Istanbul, Turkey. Equity knocked out other leading contenders to take the award, including Accion, Nigeria, Blue Financial Services of South Africa […]

October 12, 2009 More
Banco de Credito acquires microfinance firm

Banco de Credito acquires microfinance firm

Peru’s biggest banking group this week announced it has acquired a 77.1% stake in microfinance firm Financiera Edyficar. Banco de Credito said it has agreed to acquire the shareholding for $80 million. Chief executive Walter Bayly said the move is part of Banco de Credito’s plan to acquire 100% of Edyficar, which is currently controlled […]

September 11, 2009 More