Why Alternative Lending Struggles to Scale in Emerging Markets – And What Fintech Companies Can Do About It
Fintech models have proliferated in most developing countries, but alternative lending has struggled to gain scale. That's why FIBR, a project by consulting firm BFA in partnership with The MasterCard Foundation, is bringing together fintechs and banks to use networks of small businesses – shops, clinics and even local schools – to deliver digital financial services to low-income customers.
Of the $90 million facility, $10 million will go to horticulture, $15 million to cross border traders, $40 million for the gold facility, $15 million for women empowerment, while $10 million has been earmarked for business linkages.
- Financial Inclusion
- Sub-Saharan Africa