Microfinance, Innovations, Sustainable Development - Africa

World Council of Credit Unions

Gerard — Tue, 11 Jan 2011 23:52:55 GMT

World Council of Credit Unions (WOCCU) is the leading international trade association and development agency for credit unions. WOCCU promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. WOCCU advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

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World Concern: Reaching 153,000 AIDS orphans

Gerard — Mon, 10 Jan 2011 17:59:45 GMT

While it's sometimes hard to quantify success, one thing is certain – the ripple effect and long-term effects of good development work impact more people for generations to come than any of us will know.

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Nigeria's top banker wins international recognition

Gerard — Thu, 06 Jan 2011 19:21:56 GMT

Nigeria is frequently cited as one of the most corrupt countries in the world, but its central banker has won two international banking awards. Mallam Lamido Aminu Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine.

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Developing Countries Get Grants for Sustainable Development

Gerard — Tue, 28 Dec 2010 16:31:09 GMT

The Environmental Economics Unit at the School of Business, Economics and Law at the University of Gothenburg is being granted SEK 73 million from the Swedish International Development Cooperation Agency (Sida), to continue to support six environmental economics research centres in Africa, Central America and China for the period 2011-2014.

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Nigeria: NDIC to prosecute MDs of failed microfinance banks

Gerard — Mon, 13 Dec 2010 20:19:48 GMT

The Nigeria Deposit Insurance Corporation , NDIC, has commenced the compilation of the list of Managing Directors and top management staff of the failed microfinance banks whose licences were recently withdrawn by the Central Bank of Nigeria, CBN, with a view to prosecuting them.

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Omidyar Network Supports Innovations in Mobile Technology With Grant to Praekelt Foundation in Africa

Gerard — Thu, 09 Dec 2010 02:49:56 GMT

Omidyar Network announced an $825,000 grant to Praekelt Foundation to support its pioneering use of mobile technology to drive positive social change. Funded through Omidyar Network's Government Transparency investment area, the grant will be used to extend the Foundation's mobile technology platforms across Africa. Built to take advantage of rapidly growing mobile penetration throughout the continent, these mobile platforms will provide the technological foundation and infrastructure for a variety of initiatives focusing on healthcare, education, human rights and government transparency initiatives.

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Zambia: Gender and Rural Finance workshop at Lusaka

Gerard — Thu, 25 Nov 2010 21:57:14 GMT

The grant funded a one day workshop in Lusaka to look at gender issues in rural microfinance programmes. 43 people participated in the workshop, including managers and gender specialists from government ministries, financial institutions, community based organizations and NGOs, donors and colleges. There was also participation from IFAD and FAO.

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WAM: Women Advancing Microfinance International

Gerard — Mon, 08 Nov 2010 21:21:32 GMT

WAM began in 2003 after women professionals in the microfinance industry, most of them based in Washington, DC, began meeting, at first informally in each others' homes. This growing group of WAM Founders came together to discuss areas of common concern, to decide if a more formal organization made sense, to explore what such an organization might do to support women who work in the microfinance industry and, ultimately, to support the development of the industry itself. After several months of planning and program design, WAM was formally launched in October 2003. Membership has grown steadily since.

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For the unbanked, is mobile money cheap enough?

Gerard — Sun, 07 Nov 2010 08:53:33 GMT

Claudia McKay and Mark Pickens from CGAP have pulled together a comprehensive global pricing study on banking services targeting poor, unbanked and underbanked people in Africa, Asia and Brazil. The study examines pricing for services targeting unbanked and underbanked poor people in 10 countries. The conclusion: mobile banking and other forms of branchless banking are cheaper than traditional banking, but the gap between the two may not be as wide as some may think.

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Big concerns over small loans

Gerard — Sat, 06 Nov 2010 17:03:50 GMT

The recent controversy surrounding the microfinance sector has entirely eclipsed the fact that it is the first effort in India to have delivered financial services to remote corners of the country in a self-sustaining manner. The stakes are high for India’s poor, and we have to pave the way for orderly growth in the sector. Here is our view on some key issues that have featured in the current debate.

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Rise of the social entrepreneur

Gerard — Thu, 04 Nov 2010 16:58:50 GMT

rise of entrepreneurial innovations that use mainstream financial instruments to facilitate social development. Corporate social investment (CSI) experts predict that a growing merger between social entrepreneurship and CSI will be one of the world's top trends in the future.

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Probanx - Core Banking Software - Microfinance Software

Gerard — Tue, 02 Nov 2010 22:56:44 GMT

Probanx Information Systems specializes in development of software for the financial institutions, offering multi-currency and multi-lingual banking systems with a large variety of modules, based on the latest technologies. We install and support turn-key international Banking Software and Microfinance Software solutions for retail banks, commercial banks, Internet banks and microfinance banks.

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Middle East And North Africa "Social Entrepreneurs Of The Year"

Gerard — Mon, 01 Nov 2010 21:38:14 GMT

Two Social Entrepreneurs one from Morocco and one from Tunisia - were recognized as leading social innovators during a plenary session at the World Economic Forum on the Middle East and North Africa, Marrakech, Morocco on 26 October. The awards were conferred by Hilde Schwab, Co-Founder and Chairperson of the Schwab Foundation for Social Entrepreneurship.

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Can microfinance programs heal rape victims in Congo?

Gerard — Sun, 31 Oct 2010 17:30:12 GMT

Microfinance programs geared toward African women can actually help heal victims of rape the same way that psychological counseling does – by restoring self-respect.

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Innovating solutions to extreme poverty

Gerard — Sat, 30 Oct 2010 22:02:02 GMT

US$2.3 trillion has been spent by the global North on international aid in the last five decades. Nevertheless, close to half of the world's population still lives in poverty. One in five live in extreme poverty. Aid is not working as well as it should. Unless we can inject the spirit of innovation into this provision, the extreme poor we try to help in places like Bangladesh will continue to remain poor.

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Branchless Banking 2010: Is the hype justified?

Gerard — Sat, 30 Oct 2010 17:23:23 GMT

After several years of very high profile attention on mobile money and other branchless banking schemes, we think it’s time to test the hype. Or more accurately, we’ve wanted to for awhile. But acquiring good data is really, really hard. We’ve been unable to say in anything but a fragmented, mostly anecdotal way whether the unbanked really use branchless banking, what they use it for, if it saves them any money, and what more they might want (but aren’t getting yet). Just because we are excited about branchless banking doesn’t mean it is living up to the promises we make on its behalf.

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CGAP: Mobile Banking is Reaching Millions of Economically Excluded in Poor Countries

Gerard — Fri, 29 Oct 2010 17:17:10 GMT

A significant number of people using new technologies such as mobile phones to access financial services in developing countries are completely new clients for the financial services industry, according to new research by CGAP. The growing interest of so-called branchless banking in recent years has, until now, largely lacked data showing whether it delivers on potential to bring the poor into the formal economy.

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USA: 'Capital Plus' Company Announces Small Business Banking Network for Africa, Asia and Eastern Europe

Gerard — Fri, 29 Oct 2010 16:55:41 GMT

A new initiative to expand these programs to the broader market called the Small Business Banking Network (SBBN) will launch in November. The SBBN is designed to bolster the capacity and effectiveness of financial institutions to profitably serve small businesses in developing countries, helping to close the gap between microfinance and commercial banking.

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Norwegian Microfinance Initiative (NMI) Invests $4.5m in Kenya Women Finance Trust – Deposit Taking Microfinance (KWFT-DTM) and Uganda Finance Trust (UFT)

Gerard — Thu, 28 Oct 2010 17:41:19 GMT

The Norwegian Microfinance Initiative (NMI), a partnership between the Norwegian public and private sectors that provides assistance for microfinance institutions (MFIs) in developing countries, recently loaned KES 325 million (approximately USD 4.03 million) to Kenya Women Finance Trust – Deposit Taking Microfinance (KWFT- DTM), a microfinance institution based in Nairobi, Kenya, and UGX 1.25 billion (approximately USD 548,000) to the Uganda Finance Trust (UFT), an MFI in Kampala, Uganda, to support microenterprises.

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African Development Bank Supports African Women Entrepreneurs

Gerard — Thu, 28 Oct 2010 15:18:59 GMT

Women entrepreneurs constitute one of the key drivers of Africa's sustainable growth. As Africa's lead development partner, the African Development Bankactively supports women entrepreneurs.

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Canada pledges $43.4M in aid to Francophone African countries

Gerard — Mon, 25 Oct 2010 17:59:53 GMT

Canada will invest $43.4-million in new aid to Francophone African countries, the most tangible product of Stephen Harper’s trip to the weekend’s summit of Francophone nations. The funding, part of $1.1-billion in aid that the Conservative government promised in June to protect mothers and their children at the G8 summit of leading developed nations in Huntsville, Muskoka, will help protect 1.1 million women and children from malnourishment and sexual violence.

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Nigeria: CBN Approves Provisional Licences for 121 Microfinance Banks

Gerard — Fri, 22 Oct 2010 14:47:55 GMT

The apex bank yesterday said it had granted provisional approval for new licences to 121 out of the 224 microfinance institutions, whose licences were recently withdrawn.

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The International Institute for Sustainable Development (IISD)

Gerard — Fri, 22 Oct 2010 07:27:56 GMT

The International Institute for Sustainable Development (IISD) at Colorado State University provides innovative training in community-based development (online and face-to-face), consultation, evaluation, and project support services for individuals and governmental, international non-governmental, and community-based organizations around the world.

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Village Earth : Sustainable Village Based Development

Gerard — Thu, 21 Oct 2010 07:39:48 GMT

Village Earth's mission is to help reconnect communities to the resources that promote human well-being by enhancing social and political empowerment, community self-reliance and self-determination.

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Mobile is the future of microfinance?

Gerard — Wed, 20 Oct 2010 02:13:36 GMT

Lyon created a system to bring formal financial services to microfinance institutions and poor entrepreneurs via a mobile phone. He believes the new software, to be launched by the organization he founded, FrontlineSMS:Credit, could change the world of microfinance by changing the way the poor interact with the institutions.

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Rural Finance Learning Centre

Gerard — Tue, 19 Oct 2010 08:33:45 GMT

Rural Finance is about providing financial services for people living in rural areas. This Learning Centre aims to assist organisations in developing countries to build their capacity to deliver improved financial services which meet the needs of rural households and businesses.

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KFW: Africa Gains Connection to Globalisation

Gerard — Tue, 07 Sep 2010 20:10:25 GMT

KfW Entwicklungsbank is helping improve internet access in Africa: the East Africa Submarine Cable System (EASSy) provides about 250 million people on the continent with international communication through telephone and internet.

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Nigeria's microfinance policy review underway

Gerard — Wed, 01 Sep 2010 18:42:15 GMT

Nigeria's microfinance sector has failed to make the expected impact on the economy due to misconception by the operators, but this will soon change.

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Few Sub-Saharan Africans Aware of Local Microfinance Options

Gerard — Fri, 30 Jul 2010 18:40:55 GMT

Residents in sub-Saharan African countries report a wide range of awareness about the availability of microfinance lending in their communities, suggesting these institutions remain locally inaccessible to many who would benefit most from using them. Malawians (65%) and Ugandans (63%) are the most likely to say they are aware of these institutions in their communities, while respondents from Ivory Coast (18%), Democratic Republic of the Congo (16%), and Zimbabwe (15%) are the least likely to say the same.

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Africa: Book Notes

Gerard — Wed, 21 Jul 2010 22:33:55 GMT

This AfricaFocus contains a diverse selection of recent books likely to be of interest and new to AfricaFocus readers. You will find, for example, new books by Africa's distinguished elders, such as Achebe, wa Thiong'o, and Mandela. Selected new books from publishers such as Africa World Press, HSRC Press, and Aflame Books. Books on topical themes such as SMS activism and other ICT developments, on India and China's relations with Africa, and on xenophobia and migration. And more.

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Mobile payment users seen to reach 109 million

Gerard — Sun, 18 Jul 2010 22:04:04 GMT

Mobile payment users worldwide are forecast to increase 2.1 percent to 109 million by the end of 2010, a US-based research firm said in a report.

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Africa on the cusp of a mobile payments boom

Gerard — Sat, 17 Jul 2010 21:59:18 GMT

Mobile technology has the greatest chance of delivering financial services to Africa’s estimated 325 million low-income, un-banked people. Examples of African financial innovations abound and the results are being felt across the continent, where mobile phone penetration continues to skyrocket. Dianna Games writes about the success stories and the need for investors to think from the ground up.

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SAB universal banking system

Gerard — Fri, 02 Jul 2010 20:33:15 GMT

SAB is a French vendor of core banking solutions with an international presence, mainly in francophile institutions across Europe, Africa, Middle East and the Pacific. Established in 1989, SAB is an independent group that publishes an integrated software package for banking and financial institutions: the SAB solution for front to back office banking operations.

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Ghana Islamic Microfinance

Gerard — Thu, 01 Jul 2010 19:54:29 GMT

The Ghana Islamic Microfinance www.ghanaislamicmicrofinance an upcoming microfinance institution that seeks to offer ethical micro financing in Ghana, campaign against predatory loans and offer interest free loans for both the Muslim and Non-Muslim community in Ghana have learnt with shock the passing away of Ibrahim Shaributu the brother of the National Chief Imam Sheik Nuhu Shaributu.

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Suisse Bank and African Capital and Business Support Offer N1b Loan To Microfinance Banks

Gerard — Tue, 29 Jun 2010 12:45:44 GMT

Nigerian micro-finance banks can now get as much as N1 billion loan to finance small scale businesses in the country through a new partnership between the Suisse Bank Plc of London,Smart Links Limited of Dubai and the African Capital and Business Support Limited. The loan being offered by the partnership is interest free for the first one year and subject to repayment in four years thereafter,the Vice Chairman of ACBS,Benjamin Aduli said yesterday in Abuja.

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G20 leaders to strike balance between debt and growth

Gerard — Sun, 27 Jun 2010 19:34:50 GMT

World leaders put the finishing touches on plans to build a more stable global economy on Sunday but backed away from one-size-fits-all pledges as two years of crisis give way to an uneven recovery.

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What is the G-20 ?

Gerard — Sun, 27 Jun 2010 12:31:03 GMT

The G-20 is the premier forum for our international economic development that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions, the G-20 helps to support growth and development across the globe.

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Rwanda: Leasing Sector to Double Next Year

Gerard — Sat, 26 Jun 2010 17:55:15 GMT

Rwanda's leasing industry is expected to grow from $30 million (Rwf17.5 billion) in 2010 to $60 million (Rwf35.1 billion) next year, the President of Rwanda Leasing Association, Sanjeev Anand said during the closing ceremony of the IFC Rwanda Leasing programme.

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G8 + G20: 'Poverty in Uganda is the never ending story'

Gerard — Sat, 26 Jun 2010 12:18:16 GMT

As world leaders gather for the G8 summit in Canada, Machrine Birungi visits Francis Kamara at his farm in Uganda to see if the promises made at Gleneagles in 2005 have benefitted him and his country.

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40m Euros for microfinance sector in Ghana and Nigeria

Gerard — Thu, 24 Jun 2010 17:48:16 GMT

The micro-finance sector in Ghana and Nigeria has received a boost through a 40 million Euro fund, which was launched by Goodwell Investments of The Netherlands, Alitheia Capital of Nigeria and JCS Investments from Ghana.

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Women's World Banking Ghana Meets Needs Of Rural Customers

Gerard — Wed, 23 Jun 2010 18:07:42 GMT

Technology-leading African microfinance institution continues its commitment to innovation and delivery of enhanced banking solutions with field-based account origination solution. In keeping with emerging trends in microfinance banking, Women’s World Banking Ghana (WWBG) continues its commitment to innovation with the deployment of a digital writing solution from ExpeData .

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IFC Partners eTranzact on MobileMoney Project

Gerard — Mon, 21 Jun 2010 18:00:28 GMT

As part of efforts to bridge the gap between the banked and the unbanked population of Nigeria, eTranzact in conjunction with International Finance Corporation (IFC), a member of the World Bank Group, have embarked on a pilot project for the rural areas in Nigeria called Rural Telephony Project (RTP) MobileMoney.

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Janta Provides Microfinance Loans for India’s Kids

Gerard — Sat, 19 Jun 2010 18:44:03 GMT

Sunny Mahant had been working as a product marketing manager for nine years at Cisco when he experienced an epiphany on a trip to India. On that trip, Mahant and his wife, photographer Geidre Nakutyte, witnessed firsthand the brutish conditions under which very young children work in India, and the extreme poverty suffered by their families. He came home determined to make a difference in the lives of young Indians.

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Microfinance emerges beyond conventional markets

Gerard — Fri, 18 Jun 2010 18:30:00 GMT

Offbeat financal avenues find buyers slowly but steadily. With the global meltdown behind, European debt crisis ahead, global economists are busy pondering new sectors like microfinance, carbon finance, water credit and so on to find hope for market expansion.

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Banking on Change Launched in Ghana

Gerard — Wed, 16 Jun 2010 18:39:49 GMT

Barclays and international development organisations CARE International (CARE) and Plan have launched Banking on Change in Ghana, a unique and pioneering microfinance initiative aimed at reaching half a million people in ten countries across the world and sixty three thousand people in Ghana.

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How oil boom becomes oil doom: can Ghana use oil as a new window of development opportunity?

Gerard — Fri, 11 Jun 2010 20:03:18 GMT

Ghana is on test as it prepares for oil production. But oil endowment itself is not a doom. How it is managed could make it a boom or a doom. While it requires a lot of sacrifice and patience to make the boom work for the economy, the country cannot equally ignore the higher price to pay if the oil resources are not managed well.

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Low awareness may mar CBN’s m-Payment regulation

Gerard — Thu, 10 Jun 2010 19:54:09 GMT

As applicants await approval to operate mobile payment in Nigeria, stakeholders complain that the issue of low awareness must be addressed to ensure success

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South Africa: Business Confidence takes a dive

Gerard — Thu, 10 Jun 2010 12:04:21 GMT

Business confidence fell unexpectedly in the second quarter of this year, led by a plunge in retail trade and the vehicle industry and suggesting that economic growth has slowed, a leading survey showed yesterday.

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In Nigeria, power is about 40% cost of production

Gerard — Wed, 09 Jun 2010 19:46:27 GMT

Lack of sufficient capital to support Small Medium Enterprise (SMEs) is said be responsible for the failure of microfinance banks in the country, just as the management of TechnoGlass Industries Limited(TGI) lamented the huge monthly electricity bill paid to Power Holding Company of Nigeria (PHCN) without getting the desired services from PHCN.

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Nigeria: SMEDAN signs MoU with six Microfinance Banks on micro-credit

Gerard — Tue, 08 Jun 2010 19:32:09 GMT

The Small and Medium Enterprises Development Agency of Nigeria, has signed a Memorandum of Understanding with six Microfinance Banks on the provision of micro credit for small and medium scale enterprises in the country. The pact will also enable business owners in the country to benefit from entrepreneurship training programmes put together by SMEDAN and the microfinance banks.

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