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- Raise awareness of the potential of partnership approaches in microfinance;
- Better equip managers of financial and other institutions to assess, enter into and maintain mutually satisfactory partnerships that enable them to better deliver sustainable and appropriate financial services to the poor.
- Low-priced, domestic funding in key countries has been crowding out foreign private capital.
- Latin America & the Caribbean is now in second place behind Europe/Central Asia in terms of the geographic investment distribution – receiving 35% and 37% respectively of total MIV investments.
- Top fund executives predict growth rates of 20-30% for the remainder of 2011 and into 2012.
- Both MFIs and MIVs are giving increasing priority to social performance.
Workshop on Capacity Building for Partnerships and Invest in Mekong Region
January 31st, 2012There’s an upcoming microfinance event taking place in Cambodia, put on by BWTP (Banking With the Poor).
What (main event): Workshop Building Partnerships in Microfinance
This three (3) day training course is designed for management of a range of microfinance providers and other stakeholders, including MFIs, banks, insurance companies, NGOs and government agencies. The course content aims to:
When: February 20-22, 2012
Where: Siem Reap, CambodiaWhat (side event): Invest in Mekong Region MarketplaceWhen: February 22, 2012 – 1:00pm – 5:00pmWhere: Siem Reap, Cambodia
The Invest in Mekong Region Marketplace is an event intended to gather financial investors to meet one to one with a diversified and investible pool of MFIs from Mekong Region matching their investment preferences in terms of investment type, size, tenure, country, social and financial criterion, risk appetite and expectation of financial and social return.
It’s a bummer this event isn’t a month earlier given that I’m in Siem Reap right now. I plan to be in Chiang Mai starting on the 11th or 12th of February, but we’ll see if I can make it back here in a month to attend.
The Launch of Luminis -The First Web-based, Analytical Platform Focused on Microfinance Funds
January 12th, 2012
January 12, 2012, Washington D.C. – On December 20, 2011, MicroRate, with the support of LuxFLAG and the Grand Duchy of Luxembourg, launched Luminis™ the first web-based, analytical platform focused on microfinance funds, also known as microfinance investment vehicles (MIVs).
With the success of microfinance and the growing interest in impact investments that deliver both financial returns and social impact, there has been a dramatic increase in the number of global funds that invest in microfinance institutions (MFIs). Until now, there was no single resource to assist investors in identifying and analyzing the wide range of investment options in this growing category of socially responsible investments.
Responding to this need, MicroRate’s team of microfinance and capital market analysts developed a proprietary approach to analyzing impact investment funds, called PRSM™, to assess the funds’ performance, risk, social, and management components. This in-depth analysis forms the core of Luminis, which also provides investors with search and comparison tools, detailed fund profiles and reports, research, and relevant market news.
“MicroRate’s core mission has always been to facilitate the flow of capital-market funding to microfinance to promote the long-term sustainability of this poverty-alleviation tool,” stated Damian von Stauffenberg, founder and chairman of MicroRate. “Since 1996, MicroRate has rated MFIs to achieve this goal. Luminis will now provide unprecedented transparency on the investment-fund level, which will further develop the microfinance industry.”
The current Beta version of the Luminis site includes basic profiles on over 80 MIVs. Users can also preview samples of detailed fund profiles and reports that will be part of the full-release version of the site which is scheduled to launch in the first quarter of 2012.
“Luminis would not be possible without the cooperation of forward-thinking MIV managers, who have agreed to contribute the data that enable us to deliver clear and comprehensive reports to the investment community,” stated Luis A. Viada, Executive VP of MicroRate and Luminis Director. “Already capital markets investors have responded positively to the Luminis approach and see it as a key tool in researching and differentiating among social investment funds.”
According to Kenneth Hay, Chairman of LuxFLAG “We see the launch of Luminis as a critical step forward, providing the detailed and reliable industry information necessary for investors to evaluate MIVs as a valid impact investment option and a potential alternative asset class producing both financial and social returns.” Of the funds featured on Luminis, 15 hold the LuxFLAG Microfinance Label.
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Luminis Background
The critical need to create transparency on microfinance investment vehicles (MIVs) was recognized both by MicroRate and the Grand Duchy of Luxembourg who together in May 2010 signed a collaboration agreement providing public seed capital, through the Luxembourg labeling service, LuxFLAG, to help launch Luminis.
Each of the parties is a leader in the field of microfinance investments, which made the initiative a natural alliance. The Grand Duchy of Luxembourg is a staunch advocate of microfinance and hosts the largest number of MIVs of any global financial center. MicroRate has a long-standing and respected reputation as the premier rating agency of microfinance institutions (MFIs). It is also the industry leader in microfinance investment vehicle evaluation.
Luminis is a service of MicroRate which developed the Luminis approach and is solely responsible for providing the analysis, deliberation, conclusions and opinions reflected in all reporting.
About MicroRate (www.microrate.com)
MicroRate is the first microfinance rating agency dedicated to evaluating performance and risk in microfinance institutions (MFIs) and microfinance funds, also known as microfinance investment vehicles (MIVs). As the oldest and most well-respected organization of its kind, MicroRate has conducted over 600 ratings of 200+ MFIs throughout Latin America, Africa, Europe, and Central Asia. MicroRate is a leading social rater and has also become the largest MIV evaluator in the industry.
About LuxFLAG (www.luxflag.org)
The LUXEMBOURG FUND LABELLING AGENCY (LuxFLAG) is an independent, non-profit-making association created in Luxembourg in July 2006. LuxFLAG supports the financing of sustainable development by providing clarity for investors through awarding its Labels to eligible Microfinance Investment Vehicles (MIVs) and Environment-related Investment Vehicles (EIVs). Its objective is to reassure investors that the labelled investment fund invests most of its assets, directly or indirectly, in the microfinance or environment sectors. The MIV/EIV may be domiciled in any jurisdiction that is subject to a level of national supervision equivalent to that available in European Union countries.
A Question for Those with Experience with Mobile Tech and Microfinance
December 2nd, 2011Think big. If there were no cost/funding restrictions, what would the perfect platform for microfinance be that included mobile banking? Everything (client and MFI) managed from a SMART phone.
Is Mifos the only project with momentum? Or are there other platforms that exist under the radar?
Any thoughts, opinions, or questions would be appreciated.
Interview with Casey Wilson on Cross Over 2011
November 17th, 2011Here’s an interview with Casey Wilson, the Co-Founder of Wokai.org in China:
Accounting and Microfinance – Greensboro, NC
October 30th, 2011
Microfinance Program Manager at Citi
October 12th, 2011For those looking to get into the microfinance world, Citi has a program manager, VP-level, opening in Miami worth taking a look at.
From their website:
Location: Miami, FL, US
-This VP position is an officer-level, strategic position responsible for creating, planning, coordinating, and disseminating a microfinance project and/or initiative- This position must ensure management that all appropriate constituencies are adequately informed of the benefits provided by the implementation of such project
-The VP conducts field training, MIS analyses, makes recommendations to all levels of business management of gaps in strategies, processes or progress in such projects or initiatives, and documents emerging media coverage
-The VP must possess an understanding of Citi technology systems and vendor relationships
-Provides innovative perspective on targeted programs surrounding the product to senior management
-Manages product development and/or management lifecycle for products
-Identifies business opportunity and plays an active role in developing the appropriate integrated products for businesses to meet the target population
-Researches new and/or existing products, product enhancements, and product redesign that align the product development function with the goals of the organization
-Integrates in-depth industry and competitor learnings
-Develops the value propositions, including profitability analysis for all new and/or existing products
-Responsible for coordinating the roll out of new targeted programs and providing training for field for scalable implementation
POSITION RESPONSIBILITIES:
-Manages US Citi Microfinance asset building products (savings and credit) and designated clients, including project timelines, work plans, testing, resources, training and documentation of procedures and results
-Plans, coordinates, and disseminates accurate, timely information to internal and external constituencies such as Citi’s Microfinance business partners and our external strategic Microfinance institutional project partners for such projects
-Anticipates and alerts Citi Microfinance management of implications of policies, developments, and current events, and makes recommendations on changes necessary to ensure successful programs
-Coordinates and implements communication strategies for key issues and initiatives of the US Citi Microfinance team
-Assists Citi businesses in developing and disseminating appropriate collateral and marketing materials to support targeted programs
-Coordinates Citi Microfinance US events, presentations, and conferences involving external executives from various microfinance organizations and agencies and Citi Senior Management Executives
-Works with the technology and website development teams to manage and oversee the system development process including systems, technical design, coding, testing, and turnover to live production of application
-Assists the Global Director in the global media relations strategy in order to ensure that Citi Microfinance messages and images are appropriately conveyed to the public; establishes and maintains diplomatic relations with the internal media groups, and serves as the point of contact for questions concerning media issues; monitors and analyzes media coverage of Citi Microfinance
-Partners with technology, communications, product and web development teams to provide day-to- day support in maintaining the network information systems, platforms and internal/external websites
SKILLS REQUIRED:
-Excellent written and verbal communication skills
-Excellent time management and organizational skills
-Strong project planning and project management skills
-Proficiency with MS Word, Excel, PowerPoint, Visio, SharePoint and other data management and presentation applications
-Ability to handle multiple tasks covering multiple projects with varying delivery dates required
-Strong analytical skills
EXPERIENCE:
-College degree (B.A. or B.S.) or equivalent experience
-3-6 years experience in banking, operations and/or project management
-Demonstrated experience/interest in microfinance
-Past track record of being able to work on teams, with teams and independently with minimal supervision; work long hours, deliver a product on time, on budget and with sensitivity to the subject matter; extensive initiative, creativity and independent judgment; collaboration on complex issues, and strong leadership skills
HIGHLY DESIREABLE QUALIFICATIONS:
-Broad strategic experience developing and coordinating projects and media relations in a conglomerate; exceptional communication skills; strong conceptual, analytical, leadership, and project management skills; ability to collaborate with diverse and competing interests; working knowledge of Citi businesses systems and operations; knowledge of microfinance concepts and programs.
FURTHER ABILITY TO:
-Interact with senior executives; develop comprehensive communication strategies; prepare executive level reports and correspondence; maintain tact under stress; use persuasion, discretion, and independent judgment in representing Citi Microfinance to Citi global businesses.
-Work diplomatically with competing interests; apply problem solving and process improvement techniques; coordinate the efforts of others over whom one has no direct authority; conduct research; participate in and lead cross-functional project teams; meet critical deadlines.
For more info and to apply, visit the jobs.citi posting.
Grameen Tech Events in September
September 14th, 2011For those in the Seattle area and interested in Grameen’s Mobile Health Program, Grameen Foundation Technology Center is hosting two events this month:
Breakfast
Date:Â Wednesday, September 21
Time:Â Doors open at 7:30 a.m., program from 8:00 to 9:00 a.m.
Speakers:Â John Tippett, Mobile Health Technology Program Manager and David Edelstein, Vice-President, Technology Programs
Place:Â Grameen Foundation Technology Center — 2101 4th Avenue, Suite 1550, Seattle
RSVP: Register online or call 206-325-6690 x209
Please Note:Â Space is limited and registration will close at 50 attendeesHappy Hour
Date:Â Wednesday, September 28
Time:Â 5:30-7:30 p.m., brief program at 6:30 p.m.
Speaker:Â Tim Wood, Director of Mobile Health Innovation
Place:Â Solo Bar – 200 Roy St. Seattle, WA 98109
RSVP: Register online or on Facebook
Kiva.org – 620,000 Lenders funding 615,000 Entrepreneurs
September 6th, 2011WOW
Congrats to Lumana Credit for Making Their First TV Appearance
August 21st, 2011Lumana (I volunteered with them for a month in Ghana last year) just got their first television appearance — they were featured on KCTS 9 Connects on Friday. You can view the segment here.
Congrats to Cole, Samantha, and the entire Lumana team!
The State of Microfinance Investment 2011 – From MicroRate
August 21st, 2011
MicroRate.com recently released their State of Microfinance Investment 2011 report. Here are a few key findings from the press release:
More information:
