Posts Tagged ‘africa’

Microfinance Focus, Nov. 3, 2009: Yeardley Smith, the voice of Lisa Simpson on the award-winning animated television series, The Simpsons, has donated $1.14 million to Grameen Foundation and Fonkoze, a Haitian microfinance institution. The donation of $900,000 to Grameen Foundation will support a new initiative geared toward expanding micro-loans and other sustainable opportunities for people living at the very bottom of the economic ladder. The donation of $240,000 ... Full story

By Matthew Fuchs Microfinance Focus, Oct. 26, 2009: African workers send home more than $40 billion to the region each year but restrictive laws and costly fees hamper the power of remittances to lift people out of poverty, according to a new report by the UN’s rural development agency, the International Fund for Agricultural Development (IFAD), stated a press release. Remittances are sources of income for poor ... Full story

By Naagesh Naaraayana Microfinance Focus, Sept. 18, 2009: Over the next 10 years, CARE plans to provide basic financial services for 30 million of Africa’s poorest people in 39 countries, and at least 70 percent of them will be women. CARE, a humanitarian organisation with its Access Africa program on village savings and loans, is empowering ... Full story

Microfinance Focus, Sept. 8, 2009: Japan and the African Development Bank (AfDB) have approved a grant of US$1 million to AB Microfinance Bank of Nigeria (ABN) from the Fund for African Private Sector Assistance (FAPA). The technical assistance contribution from FAPA, which makes up 7.7% of the overall TA package, will be used to co-finance the provision of technical assistance to ABN to build the capacity of the institution during its first few years of operation. FAPA funds will pay to bring in long-term management staff as well as short-term experts for the implementation of new IT/MIS systems and staff training. FAPA funds will cover costs related to these experts for a three-year start-up phase, after which trained ABN staff will replace them. Full story

Microfinance Focus, Aug. 17, 2009: Acumen Fund, a nonprofit venture capital firm focusing on poverty in South Asia and East Africa, announced on Monday the list of new fellows selected for 2010. The program received 370 applications from 49 countries, a statement said. The program will have an eight-week training course followed by a nine-month assignment with one of Acumen's portfolio companies in health care, housing, water and energy. The Fund's 2010 Fellows are: Full story

MicrofinanceFocus, July 23, 2009: BRAC, a non-profit organisation, is leading a $15 million initiative to rebuild war-torn communities in Sierra Leone and Liberiaon on a long-term sustainable strategy, including microfinance, with support from the Soros Economic Development Fund, Open Society Initiative for West Africa, Omidyar Network and Humanity United, said a statement on Wednesday. The two-year pilot program is being funded through a combination of grants and equity. BRAC is also negotiating to raise additional debt capital to finance the loan portfolio. Full story