The Economic Times, India. SKS Microfinance chairman Vikram Akula has part sold his stake in the company making a 12-fold profit before an initial public offer which may worry potential investors about the commitment of the management, experts say. Mr Akula, the original promoter of SKS, sold a part of his stake last month to hedge fund Tree Line... 

By Bassey Udo, 234Next. The Central Bank of Nigeria (CBN) yesterday said it is developing a comprehensive template to guide and regulate microfinance banking in the country. Joe Alegienu, the bank’s Director of Development Banking, said this at a meeting with the management of the National Poverty Alleviation Programme (NAPEP) in Abuja, adding that... 

Emeka Aginam, Vanguard. In creating a cashless and more efficient e-payment system for the Nigerian economy, SystemSpecs in collaboration with Maxim-Pro have signed a memorandum of understanding (MoU) to integrate Remita e-Payment platform and MaxiSoft banking applications to over 125 micro-finance banks across the nation. The new agreement entails... 

Johannes Zutt and Yira Mascaro, Business Daily. Increased access to finance, and the development of new and innovative financial instruments for Kenya’s micro, small and medium-sized enterprises, is key to achieving Vision 2030. Finance is an important driver of economic growth, and access to finance for individuals and smaller businesses is... 

The Nation. Sikiru Alabi-Macfoy, Chairman, Lagos State Microfinance Institution (LASMI), says the outfit has so far given out N5 billion as loans to the poor in the state. Alabi-Macfoy, who disclosed this to the News Agency of Nigeria (NAN) in Lagos, said the sum was disbursed in collaboration with eight microfinance banks. He said the first phase... 

Credit facility will provide debt funding to smaller MFIs in challenging markets Businesswire. In their ongoing effort to empower the world’s poor through microfinance, international nonprofit Unitus, Inc., the Overseas Private Investment Corporation (OPIC), and Citi have finalized a $15 million credit facility that will help foster growth among... 

LeapFrog Investments, the world’s first microinsurance fund, announced today that it has surged past its $100 million target capitalization, months ahead of schedule. The fund invests in high-growth, high-impact insurance and financial services companies in countries including India, the Philippines, South Africa, Kenya, and Ghana. LeapFrog’s... 

By David Ssempijja THE Bank of Uganda (BOU) plans to partner with the education ministry to have financial literacy programmes incorporated into school curriculi from nursery to tertiary institutions. The strategy, which will also involve the National Curriculum Centre, is intended to deepen the public’s understanding of the dynamics involved in... 

Peoples Daily Online. Chairman, Lagos State Microfinance Institution (LASMI), Sikiru Alabi-Macfoy, says the outfit has so far given out N5 billion as loans to the active poor in the state. Alabi-Macfoy, who disclosed this to the News Agency of Nigeria (NAN) yesterday in Lagos, said the sum was disbursed in collaboration with eight microfinance banks.... 

By Ruth David, BusinessWeek. SKS Microfinance Ltd., the Indian lender backed by Sequoia Capital, plans to raise about $250 million in the first initial public offering by a financier for the nation’s poorest people. SKS, India’s largest microfinance company, plans to sell 16.8 million shares, according to its share-sale document. Citigroup Inc.,...