-
In Response to Fraud, Bank of Ghana Puts Hold on Issuing New Microfinance Licenses
The Bank of Ghana (BoG) has put on hold the issuing of new licences to microfinance companies.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- microfinance
-
Microlender Ujjivan Eyes $375M Valuation in IPO
Bengaluru-based microfinance firm Ujjivan Financial Services Ltd is seeking a valuation of as much as Rs 2,500 crore ($375 million) in an initial public offering that opens on April 28.
- Categories
- Investing
- Region
- South Asia
- Tags
- microfinance
-
Guadalajara Startup Kueski Scores Largest Fintech Investment in Mexico History With $35 Million
Guadalajara microloan startup Kueski announced a massive funding series over the weekend, bringing in $35 million with the potential to increase that to $100 million. The Series A round was led by Richmond Global Ventures, Rise Capital, the CrunchFund and Variv Capital. It also included Victory Park Capital, Angel Ventures Mexico, Core Ventures Group and Auria Capital.
- Categories
- Investing
- Region
- Latin America
- Tags
- fintech, lending, microfinance
-
A Costly Setback for SKS Microfinance?
Just as it seemed SKS Microfinance was getting back on its feet, it has received a body blow once again. It had applied for a small finance bank (SFB) licence, but while eight of the 10 entities the Reserve Bank of India (RBI) awarded these licences to were microfinance institutions (MFIs), SKS Microfinance was not one of them (See Left Out). Indeed, of the 10 leading MFIs in the country, one, Bandhan, has become a full-fledged bank, while another eight will shortly be converted into SFBs. SKS Microfinance is the only one left out.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- microfinance
-
India’s Microfinance Industry Puts Crisis Behind It, Thanks to Regulations, Diligent Borrowers
The aroma of flaming gingelly oil wafted through the air as 16 women employees of Thrissurbased Global Chips & Foods braced themselves for another long day at work. A black wooden board, hung on a recently white-washed wall, listed out their day's chores: 20 kilograms of tapioca chips and 20 kgs potato chips.
- Categories
- Uncategorized
- Region
- South Asia
-
An Underutilized Weapon Against Climate Change Risks: Maximizing the Potential of Micro-insurance
Over the past few decades, changes in climate activity have led to extreme weather events that have posed substantial threats to security and financial well-being – particularly at the bottom of the economic pyramid. As these natural disasters may become the new norm, new strategies are needed to address their impact, both during and after the events. One approach to building this resilience is through asset-based micro-insurance.
- Categories
- Environment
-
Janalakshmi, The Largest Microfinance Institution in India, Announces $210M Equity Round
Janalakshmi Financial Services Limited (“Janalakshmi”) today announced a $150 million (INR 10 billion) round of primary equity financing led by global private investment firm TPG. In addition, secondary transactions aggregating $60 million (INR 4 billion) will provide partial exits to existing investors.
- Categories
- Investing
- Region
- South Asia
-
IFC Promotes Access to Finance for SMEs in Peru With US$50 Million Loan to Mibanco
The International Finance Corporation (IFC), a member of the World Bank Group, disbursed a loan of S/.167.6 million (approximately US$50 million) to Mibanco, the largest microfinance institution in Peru and Latin America, with the aim of increasing financing to small and medium enterprises (SMEs) and low-income sectors of the population, thus helping boost job creation and economic growth.
- Categories
- Uncategorized
- Region
- Latin America
- Tags
- microfinance
Subscribe to Our Weekly Newsletter, "NextBillion Notes"
Published each Wednesday, our e-newsletter features NextBillion's latest original articles, along with a selection of news, jobs, bizdev opportunities and events from our recent coverage — and regular conference ticket giveaways.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.