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Bank of Ghana to weed out unscrupulous microfinance institutions
The Bank of Ghana (BoG) is strengthening its licensing requirements in order to weed out unscrupulous microfinance institutions from the system. Dr Abdul-Nashiru Issahaku, the Governor of Bank of Ghana, said recent events had shown that unregulated and poorly supervised financial systems might lead to risky behaviours and undermine the growth process.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Uganda: Stop Cheating Clients, Minister Urges Microfinance Institutions
The minister for Microfinance, Mr Kyeyune Haruna Kasolo, has warned microfinance institutions to stop cheating the general public by charging very high interest rates on loans.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Borrowing and Saving – Not Two Sides of the Same Coin
From a mathematical point of view, borrowing and saving are mirror images. In both cases many small payments allow for one or more large payouts. Only the sequence differs. But after traveling to India and Kenya as part of a research project, we were struck by vast differences in the way people make borrowing and savings decisions - and these have profound implications for financial service providers.
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- Uncategorized
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Nigeria clamps down on money transfers to the country
The Central Bank of Nigeria has suddenly changed its policy toward money transfer operators, effectively blocking many services used by Nigerians to send money to and from the country.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- cash transfers
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U.S. Small Business Administration and Grameen America Partner to Provide Microloans for Entrepreneurs
WASHINGTON -- The U.S. Small Business Administration (SBA) and Grameen America, Inc., a leading nonprofit microfinance organization, today announced a renewed partnership to extend a capital pipeline to underserved American entrepreneurs. Effective immediately, Grameen America will join SBA's Microloan Program as an intermediary lender recipient of $2.5 million.
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- Uncategorized
- Region
- North America
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World’s First Islamic Endowment Crowdfunding Platform Launched
Tun Abdullah Badawi, the former Prime Minister of Malaysia, has launched the Waqf (Islamic Endowment) crowdfunding platform or WaqfWorld. Described as the “worlds first” the new platform was announced at the 12th World Islamic Economic Foundation Forum (WIEF) held in Jakarta this past week The platform was developed in partnership with EthisVentures.com.
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- Uncategorized
- Region
- North Africa & Near East
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- crowdfunding, philanthropy
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Press Release: SAJIDA Foundation partners with bKash to increase access to financial services for women using digital technology
SAJIDA Foundation, a non-governmental organization (NGO) providing microfinance services to poor and low income people in Bangladesh, and bKash Limited, a leading Mobile Financial Service (MFS) provider in the world, launched a new MFS-based microfinance initiative.
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- Uncategorized
- Region
- South Asia
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How the UN is using cellphones to improve conditions for Boko Haram victims
Since the conflict heightened in 2009, the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) estimates “more than 20,000 people have been killed, and over 2,000 women and girls have been abducted. 2.5 million people have fled their homes, of whom 2.2 million are internally displaced, and 177,000 are seeking refuge in the neighbouring countries of Cameroon, Chad and Niger.”
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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