-
New Yunus Social Business Centre to be established in Malaysia
Nobel Laureate Muhammad Yunus recently signed a memorandum of understanding (MoU) with the Sunway Education Group (SEG) founder Tan Sri Dr Jeffrey Cheah endorsing the establishment of the new Yunus Social Business Centre (YSBC) at the Sunway City campus.
- Region
- Asia Pacific
-
Trust, Not Peer Pressure: Adapting the Global Microfinance Model for the U.S.
After years of working with global MFIs at Whole Foods’ Whole Planet Foundation, Steve Wanta saw that the group lending model that helped microentrepreneurs abroad could also work for Hispanic female entrepreneurs in Texas. But he also realized that the traditional microfinance model could function better with a few twists. In this Q&A with NextBillion, Wanta discusses the lessons he's learned leading the nonprofit JUST, which is adapting the microfinance model for the U.S. market.
- Categories
- Entrepreneurship
-
Banking on the Unbanked: Assessing True ‘Creditworthiness’
The combination of advanced fintech with off-grid solar solutions has been a winning combo for Colibrí, a social enterprise devoted to promoting energy access in rural Nicaragua. Its Fácil-Pago technology, powered by Angaza Design, has succeeded partly thanks to the business' approach to an often-difficult financial task: responsibly assessing the credit-worthiness of unbanked customers. Morgan Babbs, Colibrí founder and CEO, explains why the approach to calculating credit-worthiness has resulted in exceeding low default rates among other advantages.
-
Press release: Visa and Branch form micro-credit partnership
The loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other key operational needs. Loans will be disbursed directly to the merchants’ phones.
- Categories
- Finance
-
Industry body seeks government intervention to tame errant microfinance practitioners in Sri Lanka
LMFPA aims to self-regulate its 76 members through the code of conduct, particularly avoiding over indebtedness, maintaining transparency, promoting good recovery practices and maintaining healthy competition. Nafeer noted that an independent board would investigate the complaints lodged against its members and will take punitive action against errant members by terminating their membership if they continue to breach the code of conduct and same will be advertised in print media to inform the public.
- Region
- South Asia
-
Beyond Inclusion: How Mission-Based Small Business Lenders are Evolving Their Definition of Impact
While microfinance institutions have grown rapidly around the globe, so too has economic inequality in developed countries. More than two decades ago, Accion in the U.S. and Opportunity Fund responded by adapting their microlending model from low-income markets to the United States. Gina Harman and Luz Urrutia, the respective CEOs of those two organizations, share new research on small loans have impacted revenues and profits for borrowing entrepreneurs, most of whom lacked the financing and resources they needed to start or grow their businesses.
- Categories
- Entrepreneurship
-
Viewpoint: Achieving Nigeria’s financial inclusion
Despite the country’s economic growth, in February this year, it was reported by the AfDB that over 150 million Nigerians (81% of the population) live on less than $2 a day – a 20% increase in people since 2014.
- Region
- Sub-Saharan Africa
-
Women Leaders, Women Lenders: Why Impact Investing Should Follow Microfinance’s Lead on Female Empowerment
Women have been an integral part of microfinance since the very beginning. But though the percentage of women in top leadership positions in microfinance institutions is high compared to the rest of the global banking sector, it’s still lower than women’s proportion of the overall population – and far lower than the percentage of female clients served by these institutions. Abiskar Shrestha, a senior investment officer at MicroVest Capital Management, explores how the sector can boost female leadership – and how investors can help.
- Categories
- Entrepreneurship, Investing
Parent Organization
