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Microfinance Lenders in Sierra Leone Accused of ‘Payday Loan’ Interest Rates
A Guardian investigation into a microfinance programme run by Brac found that the NGO’s staff were failing to fully explain the conditions of the loan to borrowers.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Three Key Sessions from Three Days of Discussion at European Microfinance Week
European Microfinance Week is always a whirlwind of activity and insights, and this year was no exception. As a media partner at the event, NextBillion covered some of the key sessions. Here we highlight three of them, one from each day of the event – starting with Friday's must-see plenary, which was streamed live and can now be viewed in a video embedded in this article.
- Categories
- Finance
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Press Release: VisionFund International Raises AUD20M Through Its First Bond in Australia to Help Fund Global Financial Inclusion Initiatives
Offered in Australia to eligible institutional and high net worth investors, the bond is known as a ‘Kangaroo bond’ as it is issued in Australia in Australian dollars by a non-Australian entity. The five-year bond is unsecured and unsubordinated and offers a fixed rate of five per cent per annum, paid semi-annually.
- Categories
- Investing
- Region
- Asia Pacific
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Badly Needed, Hard to Deliver: The Challenges of Selling Drought Insurance to African Farmers
Millions of poor farmers in Africa can't move beyond subsistence levels because of droughts and other weather disasters. Insuring farmers against these risks is key to helping build their resilience to climate shocks. But providing this insurance – while making a profit – is no easy matter. Jim Hight explores the challenges in discussing WorldCover, a drought insurance provider that's gaining traction in Africa.
- Categories
- Agriculture, Finance
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Indonesia issues world’s first blockchain sukuk
Indonesian Islamic microfinance cooperative BMT Bina Ummah has raised 710 million rupiah ($50,000) through the world's first primary sukuk issuance on a public blockchain and also the world's first micro sukuk.
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- Finance
- Region
- South Asia
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Taking the Pulse of the Global Inclusive Finance Industry: A Preview of European Microfinance Week 2019
European Microfinance Week 2019 is coming soon, and with hundreds of global financial inclusion experts, policy-makers and investors in attendance, the event offers a unique opportunity to take the pulse of the industry. In previewing the conference agenda, e-MFP's Niamh Watters explains how it reflects the topics that are driving discussion in global microfinance, and the key players, insights and innovations that are shaping its future. As a media partner, NextBillion will provide live coverage of the event, and we’ll be giving away a free ticket through our e-newsletter on Oct. 16.
- Categories
- Finance
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He Grew Up on a Farm. Now, He Helps Protect Them.
Thomas Njeru is a co-founder of a microinsurance firm based in Kenya that covers small farms across Africa and provides protection for low-income individuals who do not have access to conventional coverage.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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The Stories That Change Our World: How Narrative Fiction Can Take the Development Sector to Greater Social Impact
Women's empowerment programs can play a critical role in improving lives and building local economies. But their impact will be limited unless there are changes in the social norms that perpetuate traditional gender roles. According to social impact producer Lara Storm, that's where narrative fiction can help. She explores how effective storytelling – from radio programs to soap operas – is being used to raise awareness around social issues and foster lasting change.
- Categories
- Finance
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