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

BASIX unveils 2 new products for SHGs

BASIX, a livelihood promotion institution, that is into micro-credit, agricultural development services, farmer cooperatives and so on, has come out with two new products for the self-help groups (SHGs), with one being a micro-credit plus capacity building product and the other a health insurance product. The products were launched at the national conference on ?Emerging opportunities at the bottom of the pyramid ? Transforming the Indian rural economy through profitability?. The micro...

Source

Business Standard (link opens in a new window)

Region

South Asia

ADB Decries Plight of Ugandan Women

By Aidah Nanyonjo LIMITED access to credit and financial services by women entrepreneurs in Uganda is hindering development of their businesses, Dr Mukaila Ojelade, the resident representative of the African Development Bank (ADB), has said. Ojelade said this during the launch of Growth-Oriented Women Entrepreneurs Country Assessment Report at Hotel Equatoria in Kampala. ?Ugandan women entrepreneurs often fall into the ?missing middle? of the financing ...

Source

The New Vision (link opens in a new window)

Provides Lending to 1.5 Million Poor Annually

BOSTON, Dec. 20 /PRNewswire/ -- ACCION International today announced that the active loan portfolio managed by its microfinance partners rose above $1 billion in 2005, for the first time in ACCION’s history.? In just over three years, ACCION has more than doubled its active loan portfolio and doubled the number of poor entrepreneurs served each year. ACCION has made significant strides in addressing world poverty, reflected Maria Otero, ACCION International president a...

Source

Press Release (link opens in a new window)

We Need Ideas From Immigrant Returnees, Not Petty Handouts

This is the time of year when throngs of people converge at airports to welcome back relatives working mostly in Europe and north America. They cast hopeful glances at the luggage of their immigrant sons and daughters. You can detect their faces falling when they notice that the bags are not many and big enough to be carrying presents. African immigrants send back to the continent billions of dollars every year, and in all but a handful of countries, they do more for the people than ...

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The East African (Nairobi), Charles Onyango-Obbo (link opens in a new window)

Poverty Growing in Africa, Falls in Asia

In many developing economies, the problem is mainly lack of decent and productive job opportunities rather than outright unemployment. The report further notes that people are working long hours under hard conditions for little income because the only alternative is joblessness. Poverty is growing in Africa and Latin America, while it is declining in Asia and Eastern Europe, states a new report released by the International Labour Organisation (ILO). In Africa...

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The East African (Nairobi), Philip Ngunjiri, Special Correspondent (link opens in a new window)

The Milkman of Talavera

GUYITO, the Inquirer’s carabao mascot, would be happy to know that his fellow ruminants have transformed the town of Talavera in Nueva Ecija into a land flowing with milk and milk products. Thanks to the dream and the daring of entrepreneur Danilo V. Fausto, carabao milk is now making a healthy comeback and finding a niche in the market. Another thing to moo about is fresh milk from cows, produced by small farmers’ cooperatives, is also finding its way into caf? ...

Source

Philippine Daily Inquirer (link opens in a new window)

Low-Cost Insurance Products Get the Nod

Products short-term insurers will offer include so-called shack insurance, covering structures and contents for about R15 a month, and cellphone insurance from about R10 a month. Life companies will offer insurance products that will be more flexible on payments, so that policies do not automatically lapse if payments are missed. THE insurance and collective investments industry will be able to proceed with low-cost Mzansi-style products in the new year,...

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Business Day (Johannesburg), Stephen Gunnion (link opens in a new window)

Abuja Gets N670m First Wireless Internet Network

Minister of the Federal Capital Territory Administration (FCTA), Mallam Ahmed Nasir el-Rufai last weekend in Abuja launched the first citywide wireless Internet Network project in Nigeria termed CT Access in conjunction with Suburban Broadband Limited. The project is valued at N670 million. Speaking at the event, El-Rufai who noted the role of technology in modern development said that Suburban would invest an estimated N670million ($5m) in the project representing 80 per cent of the...

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Daily Champion (Lagos), Erasmus Alaneme (link opens in a new window)