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Paid, But Not Paying Off: Why G2P Payments Are Not Yet Driving Financial Inclusion
In 2012, the government of South Africa started making government to person (G2P) payments directly into bank accounts. While that move made the payments more efficient, it's been less effective in ensuring that recipients reap the benefits of being financially included. Turns out, very few, if any, of these recipients use their new bank account for anything other than withdrawing their cash.
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- Technology
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Indian government asks Paytm, Oxigen wallet to digitize rural cash
The government has dialled Paytm and Oxigen Wallet to help digitise cash transactions in rural India. The rural development ministry wants to rope in digital wallet firms to make the Rs 40,000 crore turnover of women’s self-help groups (SHGs) cashless and broaden financial inclusion.
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- Technology
- Region
- South Asia
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Asian Development Bank approves $40 million loan to help promote financial inclusion in Cambodia
The Asian Development Bank (ADB) approved a $40 million loan and a $600,000 technical assistance grant on Friday to help strengthen Cambodia’s financial sector and promote financial inclusion within the country’s unbanked population, according to the ADB’s statement.
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- Uncategorized
- Region
- South Asia
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Impact investing in India could touch $6-8 billion by 2025: McKinsey
McKinsey & Co. says impact investing in India has the potential to grow from $1 billion worth of investments in 2015 to $6-8 billion by 2025. According to McKinsey, the Indian impact investment space has seen $4.1 billion worth of cumulative investments in the past six years. The pace of investment is growing at 15% annually, it said.
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- Impact Assessment, Investing
- Region
- South Asia
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The Problem of Mandatory Formalization in Financial Inclusion
An opened bank account in and of itself means very little, and a sitting balance in a bank account is literally a waste of money. What does have meaning is what accumulated savings let a consumer buy or borrow at a lower cost at the right time, without having to beg, borrow (at high cost) or steal. And when that asset grows in a meaningful way, then we have something to write home about: development and wealth accumulation in action.
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Watch Video of the Live Debate: ‘Digital finance: Full inclusion or empty promise?’
This year's European Microfinance Week concluded with a heated debate on the impact of fintech in microfinance: "Digital finance: Full inclusion or empty promise?" NextBillion live-streamed the discussion, and you can view the recorded video in this post.
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Register Now for the Global Impact Investing Network Investor Forum 2016
Next month in Amsterdam more than 500 of the best thinkers and biggest investment movers are expected to convene for two days of intense learning, dialogue and interaction during the Global Impact Investing Network's Investor Forum. NextBillion is serving as a media partner for the event and our readers can save 10 percent using a special discount code.
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Accion Venture Lab Completes First Successful Exit in India-Based Lender Varthana, Generating Financial and Social Returns
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion leader Accion, announced today that it has successfully exited an investment for the first time. Venture Lab has sold its stake in Varthana, a company providing specialized loans and support to affordable private schools in India, promoting access to and the quality of education for India's poor and emerging middle class.
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- Uncategorized
- Region
- South Asia