We are proud shareholders of Commerical Credit and Finance in Sri Lanka. Enjoy this glimpse into this leading financial services provider.
Video | Prof. Mohammed Yunus: Speech at European Microfinance Week 2012
Social Business to meet social needs
The recent SOCAP:Designing the Future event in Malmö, Sweden hosted a 45-minute conversation between Hampus Jakobsson, an entrepreneur who sold his company for $150 million, and two experienced impact investors—Niki Armacost of Arc Finance and Oliver Karius of LGT Venture Philanthropy. From “going solo” or joining a consortium to investing in unfamiliar industries, watch a lively discussion as these 3 explore the thoughts, doubts and questions of a successful entrepreneur who is interested in making impact as an investor.
Hampus Jakobsson’s company was sold for $150 million. As an angel investor, he wonders how to understand the trade-off between investing for financial return and getting the impact he wants. Oliver Karius of LGT Venture Philanthropy and Niki Armacost of Arc Finance guide him into new territory.
Hampus offers 3 criteria he uses to evaluate an idea.
Oliver & Niki ask Hampus about how he views his role as an impact investor.
Oliver discusses LGT Venture Philanthropy’s approach to impact investing.
Niki discusses Arc Finance’s discusses approach to impact investing.
Oliver asks Hampus — “If you want to transition to the impact investing space, what is it that you need?”
Thoughts on evaluating an opportunity that is unfamiliar to the investor for investment.
Niki asks Hampus — “On the question of scale — what is the formula that you go through as an engineer to evaluate whether it’s going to be a company that can scale or not?”
Questions from the audience
social entrepreneurship social impact social innovation impact investing investment LGT Philanthropy Angel Investment
May 2012, Source MicroRate
Damian von Stauffenberg, Founder and Chairman of MicroRate, the first micro finance rating agency, was interviewed by the Association of the Luxembourg Fund Industry (ALFI) about trends within the micro finance industry and a variety of topics including negative publicity on microfinance, how microfinance investment changed during and after the global financial crisis, and on global trends in microfinance and on microfinance funds (May 2012).
Eko India Financial Services India Recognized for Applying Technology to Benefit Humanity
Eko India Financial Services (Eko), was named as a laureate of The Tech Awards 2011, one of 15 global innovators recognized each year for applying technology to benefit humanity and spark global change. On October 20, 2011, The Tech Awards, a signature program of The Tech Museum, and presented by Applied Materials, Inc., selected Eko from among hundreds of nominations representing 54 countries as the winner of their Economic Development category, awarding them with the cash prize. (The two founders – Abhinav & Abhishek Sinha are on the righthand side of the video shot below, wearing purple for their category of Economic Development.)
Creation Investments CEO Patrick Fisher was on hand to congratulate Eko for their distinguished work. Creation Investments Social Ventures Fund I is the only institutional investor in Eko, providing expansion capital for the growth and outreach of Eko.
Through its robust mobile-based platform and 1,700 agents, Eko provides its customers with basic banking, savings and payment services, along with merchant transactions, bill payment, and cash collection services. Eko’s solution allows customers to open bank accounts, deposit, withdraw and remit money in real-time at the agent using number dialing from any mobile phone. Through its branchless banking service offering and integration with India’s largest banks, Eko empowers the unbanked in India to access financial services and transact with over 250 million bank accounts. Eko has served over 1.3 million customers and processed $500 million USD in micro deposits,payments and remittances.
As a technology provider, Eko supports other Business Correspondents, including Microfinance Institutions (“MFIs”), extending their outreach and product offering. Business Correspondents have used Eko’s solution due to its real-time connectivity to State Bank of India’s core banking system, the ubiquity of access, near zero start-up CAPEX, low client literacy requirements, and proven product design.
The Tech Awards: Technology Benefiting Humanity is one of the premier annual humanitarian awards programs in the world, recognizing technical solutions that benefit humanity and address the most critical issues facing our planet and its people. The awards program honors 15 scientists and innovators annually alongside the recipient of the Global Humanitarian Award. Laureates are selected by a prestigious panel of international judges organized by the Center for Science, Technology, and Society at Santa Clara University, and made up of Santa Clara University faculty as well as leaders from educational and research institutions, industry and the public sector around the world.
“The Tech Awards is an outstanding honor, recognizing individuals and organizations whose ideas and their execution are changing the world,” said Abhishek Sinha, Co-Founder and CEO, Eko. “We are ecstatic to receive this recognition at such a prestigious global platform. It is a proud moment for us to be amidst those recognized for their contributions, and we will continue to develop solutions that improve the overall well being of people worldwide.”
“The global challenges of the day have become increasingly strident, more deeply rooted,” said David Whitman, Vice President of Signature Programs at The Tech Museum. “Still, there is hope. These incredibly impressive Laureates have all proven to be equal to, or better than, the challenge to make the world a better place. By celebrating their accomplishments today, we are encouraging future innovators to work toward solutions to make the world healthier, safer and more sustainable.”
Established in 2000, The Tech Awards recognizes 15 Laureates in five universal categories: education, equality, environment, economic development and health. These laureates have developed new technological solutions or innovative ways to use existing technologies to significantly improve the lives of people around the world. One laureate in each category will receive a $50,000 cash prize during the annual Awards Gala in Santa Clara CA. on October 20.
This year, the laureates represent the truly global vision of the program, spanning countries such as India, Honduras and Ethiopia. Their work impacts people in many more countries worldwide.
The Tech Awards collaborates with humanitarian, educational, and business partners through global outreach efforts, giving people around the world the opportunity to benefit from the successful technologies recognized through The Tech Awards. The selected laureates’ projects address multiple humanitarian efforts including developing alternate ways to generate electricity, creating free educational tools, and improving literacy among children.
Key sponsors supporting The Tech Awards include Applied Materials, Inc., Intel Corporation, Nokia, Microsoft, Swanson Foundation, Flextronics, Polycom, Skoll Foundation, KPMG, Ernst & Young, Accenture, eBay, Qatalyst, Google, Wells Fargo, Xilinx, American Airlines, Ogilvy Public Relations Worldwide, Bain & Company, NBC11, San Jose Mercury News, Forbes, Stanford Social Innovation Review, TIME, Xfinity, MEMC Electronic Materials, Brassfield Estate Winery, Hilton San Jose, Convention Plaza Hotel, and Hayward Quartz Technology.
For more information about The Tech Awards, visit The Tech Awards
An excellent 7 minute video giving color and scope to the process, social impact, and sustainability of microfinance. From our friends at Kikim Media. Great work!