Although the global economic outlook is still uncertain, the microfinance industry continues to move forward. Here are some recent developments. . .
-
SKS Microfinance (NSE:SKSMICRO), an Indian-based microfinance firm that we reported on a few months ago, issued its initial public offering on August 16, generating roughly $2 billion. With the success of the SKS IPO, it is likely that we will now see future microfinance IPOs coming down the pike. One is Spandana Sphoorty Financial, which has indicated that it intends to go public next year.
-
The South Pacific Business Development Foundation, an MFI that began in Samoa ten years ago, has opened a new operation in Fiji. Having lent almost $13 million to 12,000 families, the foundation is expecting to acquire at least 20,000 new clients in the niche Fiji market. According to founder, Greg Casagrande, “The South Pacific Business Development Foundation has been able to make a significant difference to the lives of poor Pacific Islanders.”
-
Non-profit organization Freedom from Hunger and five microfinance banks recently announced that they have successfully achieved their $6 million target for a microfinance and health initiative. This initiative will enable the development and testing of integrated microfinance and health protection products and services.
And there's plenty more to come. In fact, we'll soon have an update on the Spandana Sphoorty Financial IPO.
Comment 
Subscribe to