Archives for Microfinance
NIRSAL MFB Launches New Loan Products For MSMEs
Nirsal Microfinance Bank Limited (NIRSAL MFB) has announced the launching of new credit facilities for micro, small and medium enterprises (MSMEs). The bank said the new launch is part of…
Microfinance banks’ loan to the Nigerian private sector hits N1.12 trillion in June 2022
Loans by Microfinance banks surged to trillion as of the end of June 2022, representing a increase compared to billion recorded as of the end of 2021. This means that…
Yes Bank open to acquiring microfinance entity as $1.1 billion fundraise gains pace, MD says
Private sector lender Yes Bank is open to acquiring smaller entities, especially from the microfinance segment, if the target entity is a good opportunity to make investment returns, its Managing…
SECP grants license to SAFCO microfinance company (pvt) limited
Securities & Exchange Commission of Pakistan (SECP) has issued Microfinance License to a newly established “Non-Banking Microfinance Company” namely SAFCO Microfinance Company (Private) Limited (“SMC”). As per the details, SMC…
State of microfinance
Pakistan’s microfinance sector is not immune to macroeconomic crises, natural disasters, or law & order breakdowns. So how has this important sector been dealing with the economic fallout of turbo-charged,…
IMF offers Jordan additional funding of $183mln
The International Monetary Fund (IMF) on Thursday announced that the Executive Board completed the 2022 Article IV Consultation for Jordan and the Fourth Review under the Extended Fund Facility (EFF).…
European financing fund for Africa launched with first closing of $24.1m
A new European Solidarity Financing Fund for Africa, FEFISOL II, has been launched with a first closing of $ million and a technical support envelope of $ million, according to…
DFC, DFC, African Union’s AUDA-NEPAD Partner to Expand Access to Finance for MSMEs in Tanzania, Zambia, Malawi, Nigeria
The US Agency for International Development (AID) and the US International Development Finance Corporation (DFC) recently joined the African Union Development Agency (AUDA-NEPAD), which was founded as the New Partnership…
Microfinance activity benefits 3.5 million individuals in Egypt: El-Araby
Microfinancing benefits million individuals in Egypt, providing EGP 29 billion across all commercial, industrial, agricultural, and service sectors, Ibrahim El-Araby, the chairman of The Federation of Egyptian Chambers of Commerce…
Microfinance effective tool for an inclusive financial system: SBP Deputy Governor
“The State Bank of Pakistan recognizes microfinance as an effective tool for an inclusive financial system as it gives access to those socio-economic segments, especially enterprises, who are otherwise neglected.…