When

Details

Please join the Microfinance Club of New York’s

Annual Members Meeting 

Meeting Agenda: 

Exploring the SKS IPO: 

Issue and Implications for the Microfinance Industry

Presentation by Keynote Speaker, Camilla Nestor 

MFCNY 2009 Recap

MFCNY Update by Co-Presidents Meghan Gill and Sham Mustafa

New Steering Committee Member Elections* 
 

Exploring the SKS IPO:  Issue and Implications for the Microfinance Industry 

SKS has publicly announced its intention to go for an initial public offering over the next 6-9 months, hiring Credit Suisse, Citibank and Kotak (a local investment bank) to advise on the transaction.  This potential IPO is already prompting much discussion in India about the industry’s roots, including its commitment to serving the poor and the need for social performance measurement, how/if clients participate in the wealth generation, and how regulators might respond.  Concurrently, a recent M-CRIL study has showed shrinking operating expense ratios among the top Indian MFIs, yet at the same time, increasing yields, raising questions about what is driving these changes in business model and who is benefitting.  Using the implications raised by this potential transaction as launching pad, we will discuss the increased industry focus on client protection, social performance, and models that include staff and clients in wealth creation.

Camilla Nestor, Grameen Foundation Camilla Nestor joined Grameen Foundation in August 2005 and previously served as Growth Guarantees Manager and Director of the Capital Management and Advisory Center. She was appointed Vice President for Microfinance in April 2009. She has 14 years of experience in microfinance and commercial banking. Before joining Grameen Foundation, she worked in Citigroup’s Structured Corporate Finance Department where she executed credit-enhanced debt financings for emerging markets firms in Africa, the Middle East and Eastern Europe. Prior to joining Citi, she spent five years on the ground in Southeast Asia, the Balkans, and Africa working with microfinance institutions on start-up, new product development, and capital raising. Camilla holds an MBA and a masters degree in International Affairs from Columbia University and a bachelor’s degree in Political Science and International Relations from Colorado College. She speaks Bahasa Indonesia and is conversant in French. 

*Eligibility Requirements to vote:

In order to vote for the MFCNY Steering Committee, you must be a paid member in good standing. Dues will be collected at the meeting and may also be paid in advance online at www.mfcny.org