By Zacharia Osanga, The Citizen Dar es Salaam. The Dar es Salaam Community Bank is finalising plans to transform into a commercial bank, the board chairman Paul Rupia said yesterday. DCB, which is listed at the Dar es Salaam Stock market since 2008, started operations in 2002 as a microfinance bank serving the people of the city. Its main shareholders... 

// By Hope Moses-Ashike, Business Day Online As microfinance banks in the country adopt a uniform financial year-end, following a directive from the Central Bank of Nigeria (CBN), there is now more than ever – an oversight regulation on the part of the authorities. The directive, which came last week, according to the apex bank, is targeted... 

// By Akinola Ajibade, The Nation The Central Bank of Nigeria (CBN) has exempted microfinance banks from participating in cash-lite banking system. By this, the customers of the 898 microfinance institutions can now continue to deposit and withdraw above the apex bank’s limit. Confirming the development, the Chairman, National Association of Microfinance... 

Press Release Africa’s largest microfinance executive program, School of African Microfinance (SAM) invites professionals to attend the 8th edition annual training from 3rd to 14th September 2012 in Mombasa, Kenya. Our intensive training program equips participants with knowledge, skills, insights and ideas to achieve high performance in their... 

// From The Philippine Star Tanzanian development bankers were in the Philippines to observe microfinance and microinsurance in action. Representatives from the Cooperatives Rural and Development Bank Microfinance Services Company Ltd. (CRDB) of Tanzania were the guests of the Rural Bankers Association of Philippines–Microenterprise Access... 

From The Citizen Arusha. Alliance Life Assurance has continued to target community-based microfinance institutions in its bid to extend coverage of life assurance to Tanzanians. The local insurance firm entered into contract with Fahari Yetu Saccos in Arusha over the weekend giving an opportunity for members of the saccos to benefit on the life insurance. Last... 

// By Udeme Clement, Vanguard Cashless Lagos initiative of the CBN is on course notwithstanding the challenges. Banks have commenced the enforcement of cashless policy of the Central Bank of Nigeria (CBN), which commenced on January 1, 2012, in Lagos State. While some new banks reject individual cheques above N150, 000 withdrawal limits, others... 

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... 

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... 

From The Star YOUTHS in Busia County have been urged to take loans from microfinance institutions that charge low interest rates.  Uzima Foundation coordinator Fredrick Were said the loans will enable the youth undertake income generating activities and improve their livelihood. Addressing  a stakeholders’ Forum at the Busia Agricultural Training...