// By Tara Thiagarajan, Chairperson, Madura Microfinance From The Economic Times The numbers that describe India’s economy are mindboggling. Just one-tenth of the population participates in the formal economy. Of these, only about 35 million pay taxes. That’s less than 3%. No wonder then that our economy produced a GDP of only $1.42... 

African Press Organization (APO)/ — IFC, a member of the World Bank Group, is investing $1.1 million (174.5 million Nigerian naira) alongside Advans S.A., German development bank KfW, and Dutch development bank FMO to establish La Fayette Microfinance Bank in Oyo State, Nigeria. La Fayette, which is expected to start operations during the... 

// Microinsurance Network Press Release Luxembourg – When 16 experts first sat down in early 2002 to form the CGAP Working Group on Microinsurance, none of them could have imagined what would be achieved 10 years on. The participants of this meeting realised the need for an exchange and learning platform to ensure microinsurance fulfils its... 

By G. Naga Sridhar, The Hindu Business Line SKS Microfinance Ltd has suffered a significant fall in business in non-Andhra Pradesh regions in terms of decrease in active borrowers. The number of active borrowers in 18 States outside Andhra Pradesh decreased 47 per cent at 4,837,000 as on December 31, 2011, compared with the year-ago period, the... 

By Faridah Kulabako, Daily Monitor Insurers are eagerly eying the planned National Health Insurance Scheme, which is expected to take effect next year, as an opportunity to grow insurance uptake in the country. The NHIS is a compulsory form of health insurance care financing where people who earn a monthly income will be obliged to pay a pre-determined... 

By Vibeka Mair, Civilsociety.co.uk Oxfam has launched an investment fund, with social and financial returns, which will target small and medium companies in developing countries by investing in local financial intermediaries which focus on small enterprise development. The fund, called the Small Enterprise Impact Investment Fund (SEIIF) is a joint... 

// Grameen Foundation Press Release Skilled Business Volunteers Help Ethiopian Social Enterprises Alleviate Global Poverty Washington, D.C., January 25, 2012 – Bankers without Borders® (BwB), Grameen Foundation’s global volunteer initiative, announced today that the Association of Ethiopian Microfinance Institutions (AEMFI) will become... 

// By Biswarup Gooptu, The Economic Times BANGALORE: The year 2011 was a generally good year for venture capital investing, but social enterprises were the exception because of their perceived connection to microfinance, an industry whose reputation has suffered severe damage in the past few months. “There is no doubt the microfinance slowdown... 

By Amaka Abayomi, Vanguard LAGOS — The Central Bank of Nigeria, CBN, has directed microfinance banks (MFBs), primary mortgage institutions (PMIs) and finance companies (FCs) to adopt a uniform accounting year end. It would be recalled that banks adopted a common year end of December 31 in 2010. In a circular to other financial institutions, the... 

By Chuks Udo Okonta, The Nation The government, donor agencies have been told to use insurance as a weapon to combat poverty. The Deputy Manager Authorisation and Policy National Insurance Commission (NAICOM), Mr Adeola Bakare, told The Nation that insurance remains one of the ways people can protect themselves against poverty. He noted that low income...