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Using Small Loans to Generate Big Profits
NAIROBI, Kenya—At a recent group-lending meeting in the Kawangware slum, about 10 miles from downtown, Jackson Munyovi sought $350 to build a new shanty for his wife and two children.
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- Sub-Saharan Africa
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- microfinance
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Poor women to get mobile feeds on their financial info
Poor women in Andhra Pradesh could soon get access to their financial transactions on mobile.About 90 lakh women members of self help Groups (SHGs) in Andhra Pradesh can look forward to this facility, thanks to a mobile book-keeping project being launched by the State Government.
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- Technology
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- South Asia
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- microfinance
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New youth savings program launched in Yemen
Silatech and the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) have signed an agreement with Al-Amal Microfinance Bank (AMB) and Al-Kuraimi Islamic Microfinance Bank (KIMB) in Yemen to provide financial access to tens of thousands of young Yemenis through an innovative new youth savings program.
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- North Africa & Near East
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- microfinance
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Innovations in Financial Inclusion: Community Development and Co-operative Strategies: Ashoka Changemakers has Launched the G20 Financial Inclusion Challenge
In June Mexican Presidency of the G20 and Ashoka Changemakers officially launched the G20 Financial Inclusion challenge during the summit in Los Cabos. It signaled the G20’s continued emphasis on financial inclusion as a component of stable and vibrant financial systems.
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Annapurna Microfinance raises $2.36M from Incofin Investment Management
Orissa-based Annapurna Microfinance Pvt Ltd (AMPL) has raised Rs 13 crore ($2.6 million) from Belgian investment firm Incofin Investment Management's Rural Impulse Fund II.
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- South Asia
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Grameen Koota Raises INR 25 Crores through Non-Convertible Debentures
Microfinance Focus, June 22, 2012: Bangalore-headquartered microfinance firm Grameen Financial Services Private Limited (GFSPL), popularly known as Grameen Koota has raised INR 25 Crores (USD 5 million) in debt funding through an issue of secured, redeemable, non-convertible debentures (NCDs).
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- South Asia
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BRAC eyes fully self-funded by 2021
Dhaka, June 5 (bdnews24.com)—BRAC says it is 'gradually' lessening dependency on foreign donations in an effort to be a self-financed organisation by 2021. "Even in 1990 we depended 100 percent on foreign donations, but in 2011 it was only 30 percent," Executive Director Dr Mahbub Hossain said while unveiling the 2011 annual report of the largest Bangladeshi NGO.
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- South Asia
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The Case for Micro-Equity: Same Infrastructure, Different Mechanism
The vast majority of entrepreneurs served by MFI loans still lack the ability to scale their business, add real value in the supply chain, and steadily increase their profitability. Micro-businesses frequently take out several rounds of loans, creating a cycle, not true sustainability. We believe the answer that not only provides additional capital and a more long-term approach, but also greater benefits for investors as well, lies with micro-equity.
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