Yoma to tap digital banking for nationwide expansion

YOMA BANK, one of the largest private banks in Myanmar, plans to focus on providing digital products to millions of people in Myanmar , according to Hal Bosher, the bank’s chief executive officer. Bosher said in an exclusive interview that digital products would allow the bank to serve the country better, making banking accessible and […]

Myanma Awba opens new agrochemical production complex in Yangon

Myanma Awba Group, Myanmar’s largest manufacturer and distributor of agricultural technology, launched Myanmar’s first private agrochemical production complex in Yangon Region on August 19. The US$35 million Hmawbi Agricultural Input Complex (HAIC) is located near Wa Nat Kyaung Village in Hmawbi Township, occupying 126 acres of land. Myanma Awba is providing up to $25 million […]

SolarHome bags more funding to expand into Myanmar, Indonesia and Cambodia

SolarHome, an off-grid solar firm focused on Southeast Asia, has raised US$5 million to date, having recently closed a US$1 million convertible note offering with impact venture capital firm Insitor Impact Asia Fund. The new funding will help SolarHome to extend its network of hubs throughout Myanmar, offer more products and expand into Indonesia and […]

Myanmar Global Investment Forum 2018, 11-12 September 2018, Nay Pyi Taw, Myanmar

As the Myanmar economy returns to a more robust rate of growth, domestic and foreign investors continue to evaluating investment opportunities across the industrial landscape. The Myanmar Investment Forum 2018 will offer expert insights into the industries key to the Myanmar economy. With in-depth explorations of the infrastructure, energy, oil and gas, agriculture and tourism […]

U Thein Tun picks Bagan as first hotel destination

MYANMAR businessman U Thein Tun extended his hospitality business portfolio to Bagan on September 21. The new hotel under the brand Bagan Star already has 81 rooms up and running. (U Thein Tun also owns Myanmar Consolidated Media, which publishes The Myanmar Times.) “Bagan is very attractive, with a great potential for the tourism industry […]

How microfinance can help Myanmar meet its major funding needs

Myanmar’s economy has logged one of the fastest growth rates in the world since it opened up in 2011, but its development of channels for financing such growth has not kept pace. The stock market, which began trading in March 2016, has just four listings, and overall market capitalization is equivalent to less than 1% […]

Microfinance in Myanmar: A Silver Bullet to Stamp out Poverty?

  The passing of the Microfinance Law in 2011 led to a rapid influx of Microfinance Institutions (MFIs) in Myanmar. As of December 2015 there were over 256 MFIs operating in Myanmar, all competing to crack the estimated 33 million unbanked residing here. It is believed informal money lenders charging extortionate interest rates will become […]

ASA Microfinance Plans Expansion; to Invest $30 Million by 2019

As part of its efforts to eradicate poverty the current government allowed foreign microfinance companies to operate in Myanmar since 2012. The Netherlands-based microfinance firm Association for Social Advancement (ASA) Microfinance received a licence to operate in Myanmar in August 2014. “Our purpose of coming to Myanmar is not only getting profit from loans, but […]

Microfinance stagnates due to tough rules

The domestic microfinance industry is being held back by a number of constraints on funding, preventing more small-scale loans from being disbursed, according to industry insiders. Customers wait at the counter of one of Yangon’s modern microfinance institutions.Photo:Thiri Lu / The Myanmar TimesCustomers wait at the counter of one of Yangon’s modern microfinance institutions.Photo:Thiri Lu […]

Foreign firm signs on for microfinance

The subsidiary Myanmar Investments International Ltd has signed an agreement with a local company to create a microfinance company in Myanmar. Claiming the newly formed Myanmar Finance International could be the first foreign microfinance joint venture in the country, the partners have agreed to contribute US$4.8 million in capital, it said in a press release. […]