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Myanmar caps microfinance loans at $500, sparking MFI concerns about small business growth
A new directive in Myanmar caps microfinance (MFI) loans at $500, which has the sector worried that small business growth could be stifled even as it expands its role within the Southeast Asian economy.
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- Uncategorized
- Tags
- governance, microfinance
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Central Bank of Nigeria refutes report of imminent shutdown of 600 microfinance banks
The Central Bank of Nigeria CBN on Tuesday refuted a recent report that 600 microfinance banks (MFBs) were facing imminent shutdown. According to a statement by the apex bank, its Director, Other Financial Institutions Supervision Department (OFISD), Mr. Olufemi Fabamwo was quoted as saying that the story was totally untrue and misleading.
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- Uncategorized
- Tags
- governance, microfinance
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Airtel Money generates 30m transactions worth $1b monthly in Africa
With its activities cutting across 15 countries in Africa, the Airtel Money has been described as a significant contributor to the mobile financial sector in Africa as it generates a monthly average of 30M transactions valued at $1 billion from an active base of 5 million customers.
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Proof of identity hindering Nigeria’s N1.1trn mobile money business
The lack of generally accepted proofs of formal identification required to assist service providers navigate KYC (Know Your Customer) concerns has been identified as a major drawback to the success of mobile money operations in Nigeria, according to a new report released by Lafferty Group and obtained by BusinessDay on Tuesday.
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The Telecom That Developed M-Pesa Is Boxing Competitors Out Of The Mobile Money Market
Kenyan Telecom rejects push by competitors to use its money transfer agents.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Fears Of China’s Shadow Banking Implosion Are Overblown
When China Commercial Credit, Inc. planned its IPO on NASDAQ last August, it had to cut the deal size twice because of weak investor appetite. The company ended up raising $8.9 million, only half of its original target.
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- Uncategorized
- Region
- Asia Pacific
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- microfinance
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Payment Banks as Financial Levellers
Payment banks and universal electronic bank accounts can bring about genuine financial inclusion
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- Uncategorized
- Region
- South Asia
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Accion to partner with Lagos on poverty alleviation
Accion Microfinance Bank (AMfB) said it is collaborating with the Lagos State government on a poverty eradication scheme. According to a statement, members of staff of the Lagos State Ministry of Commerce and Industry, led by the Director of Commerce Mr. Hakeem Adeniji, indicated this when they paid a courtesy visit to the head office of Accion recently.
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- Uncategorized
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