NextBillion - A WDI Publication

Majority of Indian MFIs May Have to Shut Shop

Mumbai: At least 80% of microfinance institutions (MFIs) may have to shut down in the next two-three years because of tough new regulatory requirements laid down by the Reserve Bank of India (RBI) and a shortage of funds, industry executives warn. For MFIs categorized as non-banking financial companies (NBFCs), which are run as for-profit organizations, the threat comes from RBI regulations pertaining to minimum funds, loan provisions and capital adequacy. The reluctance of commercial b...

Source

livemint.com (link opens in a new window)

Region

South Asia

?More Poor People Own Mobile Phones, But Productive Use Still a Far Cry’

NEW DELHI, DEC. 19: Hamid owns a grocery shack in a village. He travels about 80 km once in 15 days to get stuff to stock up his store. Every year his village gets flooded during the rains, leaving him with no earnings during that time. But, one, small device has changed his life. After he got a mobile phone, Hamid does not need to travel 80 km and lug stuff for his store. He simply calls, places the order and gets stuff delivered. It costs him a bit for the cartage, but the...

Source

Business Line (link opens in a new window)

Region

South Asia

Google Joins Seattle Angels to Bankroll Vittana

Vittana , the Seattle non-profit that’s facilitating micro-loans to students in developing countries, has received a $250,000 grant from Google. Others backing the organization include entrepreneurs Hadi and Ali Partovi; former Microsoft VP Mike Murray; Redfin CEO Glenn Kelman; BuddyTV co-founder Andy Liu; Founder’s Co-op’s Chris DeVore; TeachStreet CEO Dave Schappell and others. Vittana founder Kushal Chakrabarti - a f...

Source

GeekWire (link opens in a new window)

Social Entrepreneurs: Gary Hattem and Asad Mahmood

When Gary Hattem and Asad Mahmood of Deutsche Bank AG closed the $15 million Eye Fund I in 2010, they completed what had become a more than five-year endeavor. "When it started, the problems were conceptual. People were not ready for it," says Mahmood, a managing director who oversees $500 million in loans and investments. "The common perception was that bringing debt into hospitals that are serving the poo...

Source

The Deal Magazine (link opens in a new window)

Mobile Banking to Transform Nigeria’s Economy, says GT Bank Boss

The Managing Director and Chief Executive Officer of Guaranty Trust Bank Plc (GTBank), Mr. Segun Agbaje said Wednesday that the introduction of the mobile money- a mobile payment and remittance services, into the country would bring about positive transformation of payment system in the economy. Agbaje said this at the official launch of the bank’s mobile money product, in partnership with MTN. He explained that the innovation was as a prompt step towards financial...

Source

This Day Live (link opens in a new window)

Region

Sub-Saharan Africa

Why a New ’Avatar’ of Innovation is Necessary in Emerging Economies

In the past stripped down versions of products designed for developed economies were positioned as a low cost and cheap alternative in the emerging markets. This will no longer be a successful strategy. This bitter truth has been realized by many global vendors servicing the developing economies. I can vouch for this fact as I live in an emerging market (India) and understand the nuances of these developing countries. Today’s mantra is to carry out focused R&D efforts targeted a...

Source

Forbes (link opens in a new window)

Ending Africa’s Hungry Season: How Family Farms Are Driving Development

In rural sub-Saharan Africa, most people are farmers, and for part of the year, they go hungry. It’s called the hungry season. I encountered it when I lived in a farming community in Malawi for two years as a Peace Corps volunteer. Families in my village subsisted off of the maize and beans that they harvested, but there was only one growing season, and making stocks last an entire year was difficult. Imagine growing all of your family’s food for an entire year using just a hoe,...

Source

GOOD (link opens in a new window)

Region

Sub-Saharan Africa

New Legal Structures for ’Social Entrepreneurs’

You may have noticed the emerging class of "social entrepreneurs" who are creating companies that seek profit but also are devoted to a social purpose, to create long term, sustainable value. But, until recently, social entrepreneurs would find themselves in the position of choosing whether to organize either as a for-profit company or a nonprofit organization. The problem was that sometimes a company would be too much of a business to be a nonprofit. Yet, it also might be too mission-d...

Source

The Wall Street Journal (link opens in a new window)

Categories

Agriculture