Ghana Market Profile

April 18, 2014 - 9:37am from Microfinance Nigeria
MICHAEL WAJAH, the manager of Yehowa Nhyira Microfinance Limited at Offinso in the Ashanti Region, has been hauled before a Kumasi High Court (Commercial Division) over embezzlement of funds that has left the company in financial distress. He was arrested in March this year on three counts of stealing after several months of investigation which found GH¢471,000 of misappropriated funds of Yehowa Nhyira Microfinance Limited, from October 16, 2012 to June 12, 2013. Also in the ...
April 18, 2014 - 9:19am from Microfinance Africa
MICHAEL WAJAH, the manager of Yehowa Nhyira Microfinance Limited at Offinso in the Ashanti Region, has been hauled before a Kumasi High Court (Commercial Division) over embezzlement of funds that has left the company in financial distress. He was arrested in March this year on three counts of stealing after several months of investigation which found GH¢471,000 of misappropriated funds of Yehowa Nhyira Microfinance Limited, from October 16, 2012 to June 12, 2013. Also in the ...
April 17, 2014 - 2:53pm from MicroCapital
Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast. The service is aimed to facilitate remittances sent by Burkinabe living in the Ivory Coast. MTN’s mobile money service has 15 million users in 14 countries and ...
April 16, 2014 - 2:58pm from Center for Financial Inclusion Blog
> Posted by Jeffrey Riecke, Communications Associate, CFI A few days ago news broke that Facebook, the social media giant with over a billion users worldwide, is making preparations to begin offering international money transfer services. Although the development has been dismissed by Facebook as rumor, the prospect of this enormous network enabled for money transfer and the huge global need for this service makes this a ...
April 16, 2014 - 4:25am from Microfinance Gateway News & Opinion
April 15, 2014 - 12:49pm from Microfinance Nigeria
Innovative Micro Finance Limited (IMFL) is aiming at becoming a fully fledged commercial bank in the next five years. The successful realisation of that dream by IMFL, an initiative of former Miss Ghana, Ms Sheila Azuntaaba, the founder and CEO, would make it the first microfinance bank in the country. Ms Azuntaaba said in an interview that management was now working at improving the corporate governance structures of the company in the lead-up to it becoming a bank by ...
April 15, 2014 - 12:47pm from Microfinance Africa
Innovative Micro Finance Limited (IMFL) is aiming at becoming a fully fledged commercial bank in the next five years. The successful realisation of that dream by IMFL, an initiative of former Miss Ghana, Ms Sheila Azuntaaba, the founder and CEO, would make it the first microfinance bank in the country. Ms Azuntaaba said in an interview that management was now working at improving the corporate governance structures of the company in the lead-up to it becoming a bank by ...
April 14, 2014 - 10:17am from Google news - microfinance
Innovative Microfinance to become bank by 2019GhanaWebThe successful realisation of that dream by IMFL, an initiative of former Miss Ghana, Ms Sheila Azuntaaba, the founder ...
April 14, 2014 - 10:08am from Google news - microfinance
Innovative Microfinance to become bank by 2019GhanaWebThe successful realisation of that dream by IMFL, an initiative of former Miss Ghana, Ms Sheila Azuntaaba, the ...
April 14, 2014 - 2:21am from Microfinance Gateway News & Opinion
"IFC Looks to Corporate Bond Markets to Support Private Sector Funding in Indonesia"
April 9, 2014 - 11:00am from Center for Financial Inclusion Blog
> Posted by Elisabeth Rhyne, Managing Director, CFI I was recently asked to give a talk at the University of Pennsylvania’s 8th (!) annual Microfinance Conference. This year’s theme, “Microfinance Beyond Its Roots” set me in search of ways in which the microfinance industry is moving into areas beyond its original microcredit core. Of course, this process has been going on for a long time, and so ...
April 8, 2014 - 8:15pm from MicroCapital
AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa. The new capital infusion totals EUR 29.6 million (USD 40.7 million) including commitments of unspecified size from the German development bank Kreditanstalt fur Wiederaufbau (KfW); ...
April 8, 2014 - 5:03am from MicroCapital
The Global Systems for Mobile Association (GSMA), a London-based association of 1,000 mobile operators and associated companies, recently announced that its mWomen programme has awarded the Grameen Foundation, a US-based nonprofit organization, its Innovation Fund grant of an undisclosed amount. The grant will be used to finance a market research study and to develop a plan to expand its “Mobile Midwife” service to Nigeria, in an effort to reduce the rates of maternal and infant mortality ...
April 7, 2014 - 10:00am from MicroCapital
LeapFrog Investments, a for-profit private equity fund based in Mauritius that invests in microfinance, reportedly has invested USD 29 million in return for a minority stake of undisclosed size in the Institute for Financial Management and Research (IFMR) Capital, an Indian non-banking financial company that facilitates funding for organizations that serve low-income people. IFMR Capital, an affiliate of Indian nonprofit IFMR, plans to use the funds to invest in the agricultural sector, ...
April 6, 2014 - 5:27am from Google news - microfinance
spyghana.com
March 27, 2014 - 3:24pm from Center for Financial Inclusion Blog
> Posted by Annalisa Bianchessi, Microinsurance Network The Financial Inclusion 2020 campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. This blog series spotlights financial ...
March 26, 2014 - 4:22pm from Microfinance Nigeria
The Bank of Ghana made no mistake in licensing microfinance companies to operate in Ghana’s financial service space, says the Ghana Association of Microfinance Companies (GAMC). Members are not enthused at recent comments made by Managing Director of HFC Bank, Asare Akoffo, that the licensing of microfinance companies was a ‘mistake’, as he alluded to operational challenges within the microfinance sub-sector. According to Mr. Akuffo, the regulator could have been ...
March 26, 2014 - 4:21pm from Microfinance Africa
The Bank of Ghana made no mistake in licensing microfinance companies to operate in Ghana’s financial service space, says the Ghana Association of Microfinance Companies (GAMC). Members are not enthused at recent comments made by Managing Director of HFC Bank, Asare Akoffo, that the licensing of microfinance companies was a ‘mistake’, as he alluded to operational challenges within the microfinance sub-sector. According to Mr. Akuffo, the regulator could have ...
March 25, 2014 - 9:07pm from Google news - microfinance
spyghana.com
March 25, 2014 - 3:52pm from MicroCapital
The MasterCard Foundation, which was founded by US-based global payment processing company MasterCard and aims to promote youth learning and financial inclusion in emerging markets, has donated USD 22.7 million to Opportunity International, a US-based non-profit microfinance organization, to launch the “Africa Growth and Innovation Initiative” to deliver agricultural financial services to 7 million low-income people in the Sub-Saharan African countries Ghana, Malawi, Rwanda, Tanzania and ...