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2012 Annual Conference and the 1st African SPM Conference
from 24/09/2012 to 29/09/2012
Kampala (Uganda)
The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012
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Bill & Melinda Gates Foundation Awards $6m Grant to Ecobank
February 11, 2010
Seattle, February 11, 2010 (MicroCapital) - The Bill & Melinda Gates Foundation has provided a USD 6 million grant to Ecobank Transnational Incorporated (ETI), a pan-African bank with a network of over 500 branches in 27 countries. The grant, which is part of the Bill & Melinda Gates Foundation’s Financial Services for the Poor initiative, will help ETI expand access to low-cost savings accounts in Liberia and Ghana.
“Ecobank will utilize multiple channels, including point-of-sale devices, cards products, retailers and third party agents. The unbanked poor and low-income customers will now be able to open savings accounts with Ecobank, make payments and also withdraw funds remotely thus minimizing the need for them to visit a physical branch.”
About the Bill & Melinda Gates Foundation:
The Bill & Melinda Gates Foundation provides grants to organizations within the United States and in more than 100 countries around the world with the aim of enhancing health care, reducing poverty and expanding educational opportunities and access to information technology.
As of September 2009, the asset trust endowment totaled USD 34.17 billion. USD 21.08 billion in grants has been committed since the foundation’s inception.
The Bill & Melinda Gates Foundation’s Financial Services for the Poor initiative focuses on providing people with secure places to save money. To support this initiative, the foundation works with financial organizations to increase access to technology (point of sales devices, automated teller machines, etc.) and forge partnerships between mobile phone companies, banks and microfinance institutions. It also supports the startup and growth of new banks in difficult markets.
About Ecobank Transnational Incorporated (ETI):
Ecobank is a pan-African bank with a network of over 500 branches in 27 countries. By year end 2008, Ecobank had USD 8.3 billion in assets, USD 1.16 billion in equity and USD 5.8 billion in deposits. Its return on equity (ROE) was 17.1 percent and its return on assets (ROA) was 1.5 percent.
As of July 2009, ETI’s shares are held by more than 170,000 private and institutional shareholders throughout the world.
OTHER NEWS
- Liberia : CBL Launches L$200m Loan Extension Assistance Facility
- Nigeria: Fortis Mobile Money signs MoU with NAMBLAG
- Careful New Review of Randomized Trials of Microfinance
- Gold Backed Loans: Unlocking Liquidity for the Poor?
- The SEEP Network and MIX Present A Conversation on Financial Inclusion in Africa with Audrey Lintho
- Nigeria: CBN Initiates Bills To Improve Payment System
- 137 Million of World’s Poorest Received a Microloan in 2010
- Press Release of 10th AFMIN Annual Conference
- Micro credit providing a lifeline
- Financial Inclusion Awards - 2012
