The MiFi Report

Posts Tagged ‘africa’


Posted on November 12, 2008 - by James

USAID, Standard Chartered partner on economic growth in Africa

The U.S. Agency for International Development (USAID) and Standard Chartered Bank today announced today that they have signed a Memorandum of Understanding (“MOU”) designed to support the increased availability of financial services in sub-Saharan Africa and to encourage sustainable economic growth there.  The goals of the parties under the MOU are to:

  • promote the development of the financial sector, increase trade, and encourage local financial institutions and enterprises in sub-Saharan Africa.
  • execute partial credit guarantees that focus on sectors that further economic growth, including microfinance institutions, micro- and other local enterprises, agribusiness entities and project and infrastructure-based transactions.
  • provide technical assistance to financial institutions in Africa and co-host seminars, workshops and conferences for African enterprises.


Posted on October 31, 2008 - by lincolnw

Nigeria: Microfinance Inter-Bank Money Market Takes Off

There are strong indications that the proposed Microfinance Inter-bank money market will take off by the end of this year.

It would be recalled that Financial Vanguard exclusively reported that some Microfinance Banks in the country have commenced moves to set up an inter-bank money market for the sub-sector.ket includes the five discount houses.

However, other financial institutions like micro-finance banks and primary mortgage institutions (PMIs) cannot participate in the market because they do not have direct access to the clearing house of the Central Bank of Nigeria hence the decision of microfinance banks to create their own inter-bank money market…{click this link to read the rest of the article}


Posted on October 31, 2008 - by lincolnw

Microfinance Empowering Egyptian Women

Dr. Lee emphasized that he was not a historian and that he preferred to take an “anti-chronological” approach and explore the ideologies and central issues then apply it to history…{click this link to read the rest of the article}


Posted on October 29, 2008 - by lincolnw

Global Economy Tests African Microcredit Channels

Amid growing signs that the global economy is worsening, the White House yesterday extended an invitation to developing countries to attend a summit next month in Washington with leaders of the world’s wealthy economies.Faced with rising food and fuel prices, some of Africa’s poorest nations are struggling to lower earlier projections of economic growth by focusing on how to satisfy the basic day-to-day needs of their citizens. One avenue for attracting investment needed to keep capital flowing in to local African businesses and public works is the practice of microfinance, or supplying credit to the poor at agreed-to, flexible rates which they can afford to pay back in an acceptable time frame.But the director of the Microcredit Summit Campaign Sam Daley-Harris says that tightening pressures are being felt even in low-end borrowing circles and that such small but essential programs that can make a difference for Africans facing dire poverty are also feeling the effects of the global financial pinch…{click this link to read the rest of the article}


Posted on September 10, 2008 - by James

African Union to Politicians: Stay away from microfinance…

The African Union, AU, has issued a stern warning that politicians should steer clear from the micro-finance sector.

The warning was issued at a two-day AU Commission meeting recently in Dakar, Senegal, to elaborate a roadmap for the development of micro-finance in Africa.Top amongst the 16 recommendations that were arrived at, was the warning that, “political interference in the micro-finance business sector be totally eliminated.”

According to participants drawn from 17 African countries who attended the workshop, political leaders or those who declare their active participation in politics be it in government or opposition, are bad economists… [click here to read the rest of this article...]


Posted on August 27, 2008 - by James

Sudan: President Al-Bashir set to inaugurate microcredit bank…

NEWS WIRE: Sudan: Sudanese President to Inaugurate Microcredit Bank

Source: Sudan Tribune.

KHARTOUM, SUDAN, August 24, 2008 — President Omer Al-Bashir will inaugurate on Tuesday the Bank of Family, which is the first Sudanese financial institution specialized in the microcredit. The bank will extend very small loans to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. With a capital of USD 32 million, the bank is will include public and private partners.

Engineer Widad Yagoub, the chairperson of the board of directors of the financial body said the capital of the bank is expected to reach during the next five years… [click here to read the rest of this article...]