International Law

AESX PLATFORMS ANNOUNCES LAUNCH OF WEST AFRICA SUSTAINABLE ECONOMIC INITIATIVE

By Karel.Frielink

The Alternative Electronic Stock Exchange has created a specialty exchange for sustainable (financial and social) investing, the MicroFinance Exchange MFDAQ.

The MicroFinance Exchange announced yesterday (20 May 2008) the availability for subscription of the first social enterprise to seek capital through the Exchange.

The West Africa Sustainable Economic Initiative (WASEI) is the brainchild of former Grameen Financial Officer Linda Yahr, supported by an impressive team whose mission is to create a “ladder of prosperity” to “bottom of the pyramid“, poor owned businesses through the provision of both knowledge and investment capital. Linda said according to a press release “we are starting in West Africa, but believe our contribution to relieve poverty is extensible elsewhere.”

Jerry Peloquin, VP Professional Services, and former Grameen and USAID consultant, said “We are complementary to MicroFinance lenders, our investment begins where their resource ends, and we will work closely with them to identify suitable candidates“.

Commenting on the launch, Exchange CEO Jan Lamboo said, “WASEI is precisely the sort of open, transparent and professionally managed company that the Exchange was established to support, and which MicroFinance and Compliance professionals have been calling for.  Socially responsible funds providers want to be certain that their investment is sustainable on a “double bottom line” basis, and WASEI is just one example of a whole new emerging asset class.”

For further information please visit www.mfdaq.com or email info@mfdaq.com.

Full post as published by Karel's Legal Blog on May 21, 2008 (boomark / email).