Daily News on the web Nairobi — Craft Silicon, a leading global software solutions provider, has donated Sh9 million towards the Africa and Middle East Regional Microcredit Summit to be held at KICC, Nairobi, from April 7 to 10, 2010. The Nairobi summit is the 14th global micro-credit summit, and will be held in Kenya for the first time under the... 

SARAH HUDLESTON and LUPHERT CHILWANE (BUSINESS DAY) TOWNSHIP communities need to be empowered to develop their own economies so they can set up and sustain small businesses, said Thami Mazwai, director of the University of Johannesburg’s Centre for Small Business Development (CSBD). Mazwai told more than 400 delegates at an entrepreneurship and small... 

IFC, a member of the World Bank Group, today announced it will invest $7.5 million in the Fanisi Venture Capital Fund, which will focus on investing in startups and small and medium enterprises in Kenya, Rwanda, Uganda, and Tanzania, where job creation is largely driven by smaller enterprises. The fund, established with the assistance of Norwegian... 

The Norwegian Investment Fund for Developing Countries (Norfund) has acquired an 8.9% equity stake in developing market credit specialist Real People for an amount of ZAR100 million. The shares were acquired by way of a subscription for new shares. In addition to the equity, Norfund also made available a ZAR100 million senior unsecured loan facility... 

Governor Emmanuel Uduaghan of Delta State has emerged the best governor in Central Bank of Nigeria’s Micro-finance award. Vice President Goodluck Jonathan, yesterday in Abuja, presented Governor Uduaghan with a commemorative plaque for the award. Governor Uduaghan also bagged the first runners-up award of the best state utilizing the Trust-Fund model... 

NAIROBI – Fridah Awour Agolla has sold vegetables in Nairobi’s Mathare slum for 20 years. In better times, her stock sold out every day. But lately market forces have begun to bite even harder for the millions in Kenya who live in such squalid, neglected settlements. “My customers are buying less and less; now I find that goods like... 

Citibank Nigeria has restated its commitment to the development of the micro finance sector in the Nigeria, announcing its preparedness to reward outstanding micro-entrepreneurs in the country in the years past. According to a statement by Ogochukwu Ekezie, Corporate Affairs Manager, Citibank Nigeria, the bank will be partnering with the Central Bank... 

by Amaka Agwuegbo The Managing Director of Good Neighbours Microfinance Bank, Mr. Ikechukwu Awa, has asked state and local governments to comply with the one per cent budgetary provision for microfinance and on-lend to microfinance banks, MFBs. Urging state and local governments to remit the funds, as enshrined in the MFB operating policy, Awa said... 

Nigeria, January, 17 2010 – Less than one year after take off, the microfinance interbank money market has collapsed following default by participating microfinance banks. The microfinance interbank money market initiated by Financial Derivatives Company Limited took off formally April last year off with five microfinance banks, namely Accion... 

Kampala, Uganda, January, 09 2010 - Transfer of money has become easier and more accessible to rural areas. Banks as we traditionally know them have always had the preserve of handling money in Africa. The only other institution that came close to doing a similar function, before the birth of microfinance institutions, was the national post office. In...