|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    18th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

Investment News feed Investment News

Debt News feed Debt News

Loan News feed Loan News

Companies news feed Company News

All Financial News feed All Financial News




News Tag: microfinance

July 27, 2010

Anti-poverty banker to star in The Simpsons

by David Masters
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 has helped to lift millions of people ...




July 22, 2010

BlueOrchard plans to expand microfinance

by David Masters
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 risk management systems. With a targeted return of 20% per ...




July 20, 2010

SKS Microfinance announces IPO

by David Masters
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 making up 21.6% of the company's capital. Critics have slammed ...




June 8, 2010

Microfinance defies economic slowdown

by David Masters
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 how much a sector has been forced to make cuts. The ...




June 4, 2010

Nobel laureate warns against microfinance loan sharks

by David Masters
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 economist. "We started out with the idea of ...




May 11, 2010

Nestle opposes corporate philanthropy

by David Masters
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 belong to you." Society's problems are the joint responsibility of government, civic ...




May 6, 2010

Citigroup gives $1m to microfinance in Haiti

by David Masters
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 the grant money to help Haiti develop ...




April 23, 2010

Microfinance loan rates to be published online

by David Masters
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 24%, significantly more than the rates on ...




April 9, 2010

Microfinance: robbing the poor to feed the rich?

by David Masters
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 a certain size. "For specific MFIs who ...




April 6, 2010

Ethical finance popular at business schools

by David Masters
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 about doing good while doing well," Mary Miller, ...




April 2, 2010

ABP puts $30m into microfinance

by David Masters
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 van Roekel, spokesperson for APG, the asset manager for ...




March 9, 2010

EU sets up micro-finance fund to help unemployed

by David Masters
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 ministers. Ministers said the fund is designed ...




January 15, 2010

Microfinance loans to help needy in Bahrain

by David Masters
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 by helping them set up their own ...




October 12, 2009

Equity named microfinance bank of the year

by David Masters
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 and UBA Nigeria. Award judges recognised Equity ...




September 11, 2009

Banco de Credito acquires microfinance firm

by David Masters
”Banco
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 by non-governmental organisation CARE. "It's very likely, though there ...