NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Celtel International BV, Africa’s third-largest mobile-services provider, has agreed to buy 65% of Nigeria’s Vmobile for just over $1 billion, Celtel’s Kuwaiti parent said. Mobile Telecommunications Co. said in a statement on the Kuwaiti stock-exchange Web site that the deal includes an option for the purchase of the remaining 35% of Nigeria’s third-largest mobile-phone operator. The deal would be the latest for fast-expanding MT...

Source

Wall Street Journal (link opens in a new window)

Region

Sub-Saharan Africa

Speakers at a seminar here on Monday called upon the private and state-run commercial banks to provide all assistance for the micro-finance institutes (MFIs) in credit operation to cut poverty in the country. Commercial banks can earn huge profit from this sector as loan recovery is 95-99 per cent in micro-credit system and the poor people invest the credit in various income generating activities, they added. Credit and Development Forum (CDF) organised the seminar on &quo...

Source

The New Nation (link opens in a new window)

Forget about cash and credit cards. There’s a new payment alternative for buying CDs, DVDs and other such entertainment pleasures--your cell phone. Online payment specialist PayPal, a unit of Internet auction giant eBay, has introduced PayPal Mobile to North America. The wireless version of its service enables users to buy goods and exchange money using their phones. Transactions are conducted by secure text message. Music heavyweights Universal Music Group and MTV alr...

Source

CNet (link opens in a new window)

ICICI Bank Targets 250 MFIs

Besides retail, ICICI Bank, the second-largest commercial bank, has aggressively doubled its rural microfinance and agri-business loan portfolio over a period of nine months. The outstanding in group’s total rural microfinance and agri-business portfolio has increased to Rs 10,000 crore compared to Rs 5,200 crore last year. This comes from an outreach of to 3.2 million low-income clients. Simultaneously, the bank has also increased its partner strength of microfinance institution...

Source

Financial Express (link opens in a new window)

THERE are hundreds of school-age children in Bulacan who, for all sorts of reasons, do not attend school. One of the obvious is poverty. Many children come from desperately poor families unable to afford school fees. Some kids just do not like school ? it has no relevance or appeal. For others, it is a case of feeling they do not belong or have missed too much, either through illness, family breakdown or because they?re too often needed at home. The National Youth Commission reports o...

Source

Malaya (link opens in a new window)

FYI: Morgan Stanley Boosts Emerging Markets Research Capacity

Morgan Stanley has axed 50-60 equity research jobs in Europe and the US in favor of hiring new research staff to cover equities in the growing markets of Eastern Europe, the Middle East, and Asia, Euroweek reported recently. The same article says research departments across the major banks have come under pressure through competition and new demands from clients. (Ed. note - Euroweek’s article is behind a firewall - we’ll have to take ...

Source

EuroWeek via IEM (link opens in a new window)

PwC report: business needs to commit to sustainable development

A new PricewaterhouseCoopers’ report says companies will be driven by sustainable development in the next ten years. It identifies six trends that will encourage businesses to be more socially and environmentally responsible in the future. ? global markets will play a much bigger part than government policy in the decision-making process of companies, especially...

Source

EurActiv.com (link opens in a new window)

Pakistan: Livelihoods & micro-credit for women

Collapsed sheds, landslides and falling rocks triggered by the October 8th earthquake and subsequent aftershocks, killed more than 100,000 heads of livestock in northern Pakistan, mainly buffaloes and cows. Additionally, in the immediate weeks after the quake, many farmers were forced to sell their livestock at a very low price because of the lack of shelter and to provide food for their families. This significantly reduced number of livestock in rural areas foretells of immediately reduced inco...

Source

ReliefWeb (link opens in a new window)