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Kiva Winding Down Kenyan Operations of Peer-to-Peer Microfinance Lending Platform Kiva Zip
Kiva, a US-based microfinance intermediary, recently announced that it is winding down its peer-to-peer microfinance lending platform Kiva Zip in Kenya. Since its inception in 2012, Kiva Zip has enabled users to lend directly to microentrepreneurs in Kenya and the US. Loans in Kenya are distributed through M-Pesa, a mobile money transfer service. Most of Kiva’s loans differ from those through Kiva Zip in that they are intermediated by microfinance institutions. As of 2015, Kiva Zip had received deposits from approximately 8,000 direct lenders and disbursed the equivalent of USD 1.8 million in local currency to approximately 6,500 borrowers in Kenya. As of the same date, Kiva Zip reported a repayment rate of 91 percent [1].
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- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- lending, microfinance
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Small Finance Banks Will Shift Focus of Microlending Away From Dedicated MFIs, Says Domestic Rating Agency in India
Small Finance Banks (SFBs) will shift the focus of the microlending business away from the dedicated micro finance institutions (MFIs), domestic rating agency India Ratings said today.
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- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Crowdfunding: Ubuntu Finance in South Africa
Many South Africans dream of getting their concepts off the ground, but they lack the funding to make it reality. Too often their ideas are put on the back-burner for ‘one day’ – when they have accumulated enough wealth; when they finally secure that loan; or when the right investor shows up carrying a suitcase filled with cash.
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- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- crowdfunding, lending
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Microfinance Companies in India May Need Rs 2,000-crore in Domestic Equity to Clear Licence Hurdles
Microfinance companies that have been awarded small finance licences may need to mobilise close to Rs 2,000-crore equity between them from local investors to dilute foreign ownership.
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- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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The Making of the ‘World’s First Mobile Money Ready’ Accounting System
It’s web-based nature facilitates access via a wide range of devices, including smartphones and tablets.
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- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- lending
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African Development Bank Seeks to Spur $55 Billion for Energy
African Development Bank President Akinwumi Adesina, who took over this month, said he’s aiming to eliminate Africa’s energy deficit by 2025 by mobilizing $55 billion of investment.
- Categories
- Energy
- Region
- Sub-Saharan Africa
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Viewpoint: Why We Still Need Microfinance
Earlier this summer I wrote a response to the constant attacks from microfinance haters that are trending this year. It was a nice surprise to see that a piece referencing Taylor Swift could be taken seriously!
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- Uncategorized
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Small Farmers and Business Get Reason to Cheer as Reserve Bank of India Grants Licenses to 10 Small Banks
The Reserve Bank granted small bank licences to 10 applicants, most of which are engaged in microfinance, in a move seen as one of the most far-reaching initiatives on financial inclusion since bank nationalisation in the late 1960s.
- Categories
- Agriculture
- Region
- South Asia
- Tags
- lending, microfinance