Nigerian MFI LAPO Microfinance Bank Limited has disbursed loans worth N20.5 billion (approximately US$129 million) to its customers within a span of 6 months. Read more here.
The absence of a nationwide national identification programme in Nigeria has put microfinance institutions in a fix – the Central Bank of Nigeria makes it compulsory for account applicants at MFIs to provide valid identification, while petty traders and small business owners lack precisely that. Read more here.
This post provides an interesting take on the fact that some of the microfinance institutions (SKS MFI in India, and Banco Compartamos in Mexico) have taken part in the mainstream capital markets and how social goals and enterprising models must be balanced. Read more here.
This post gives the author’s (one of the founders of the SEEP Network) perception of Hugh Sinclair’s book on microfinance. She points out that the narrative is largely damning, and goes onto relay what the key takeaways the book holds for American lenders. Read more here.
The industry body for MFIs, MFIN (Microfinance Institutions Network) is discontent with the relaxations offered by the new RBI guidelines and plans to approach the Central Bank to make more headroom on the margin of large NBFCs (Non-Banking Financial Company). Read more here.
Microfinance is increasingly becoming subject to higher interest rates and more expensive credit due to the effects of the global financial crisis being reflected in the sector. Read more here.
MicroNed’s country scan on microfinance of Tanzania paints a dismal picture – about 650,000 Tanzanians are have access to semi-formal services, 70,000 use MFIs and SACCOs (Savings and Credit Cooperatives) serve 320,000, and finally, mobile payment are on the rise. Read more here.
SKS microfinance, India’s only listed microfinance company saw its net losses, which stood at INR 2.19 billion last year, shrinking to INR 388.4 million in the April-June period. Read more here. It also plans to expand beyond Andhra Pradesh. Read more here.
While in an interview last year, Bangladesh’s Finance Minister indicated that the Bangladesh government wouldn’t make any moves to take over the Grameen Bank, the majority of whose shares are held by female Grameen members. However, a move by the cabinet has effectively nullified his spoken confirmation with a bill […]
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