Microfinance News Synopsis: Microfinance USA puts Savings on the Table

Microfinance Focus, May 15, 2010:

Synopsis of Microfinance Related News in Other National & International  Media

Microfinance USA puts Savings on the Table: The nation’s premier event on domestic Microfinance – Microfinance USA – opens here in San Francisco on May 20th. I have the privilege to speak on a plenary on savings at the conference, and look forward to what I know will be a fascinating conversation. There appears to be a consensus among those of us working to encourage savings among lower income earners, that driving savings is a powerful strategy that can help people create prosperity. But there are sharply divergent views over the best way to encourage savings, and lots of data and perspectives that inform the arguments. [ The Huffington Post ]

NTDC Boss Urges Banks to Invest in Tourism: The Director General of the Nigerian Tourism Development Corporation, Otunba Olusegun Runsewe has charged banks in the country to take interest in the development of Tourism by investing in the sector. The NTDC boss made this known recently while presenting a paper on “microfinance banks and the need to invest in Tourism” during the one day conference on developing local governments through Microfinance Banks organized by Leadership group in Abuja. [ allAfrica.com ]

Chandula to serve on Cambodian microfinance venture board: Developing World Markets (DWM), a US based equity investor in microfinance has invited Chandula Abeywickrema to serve as an Independent Non-Executive Director. DWM is the largest investor in Thaneakea Phum (Cambodia) Ltd. (TPC), one of the largest microfinance institutions in Cambodia, with a market share of over 10%. Both DWM and TPC, having recognised the significant contribution Abeywickrema has made to the microfinance industry in Asia, have shown their keenness to use his expertise and knowledge in the vibrant microfinance industry in Cambodia. [ Daily mirror ]

Her Highness Sheikha Mozah bint Nasser Al Missned,Visits Al-Amal Bank in Yemen: In the presence of Her Highness Sheikha Mozah bint Nasser Al Missned, Chair of the Silatech Board of Advisers and, Silatech and Al-Amal Microfinance Bank publicly announced, in Sana’a, the broadening of their strategic partnership to significantly increase youth access to micro-finance loans and business development services in Yemen. Her Highness announced a personal contribution of $2 million to Al-Amal Bank for funding small enterprises operated by young people throughout Yemen and affording business development support to ensure the sustainability of their efforts. [ Smart Arabs.com ]

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