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Grab Raises $300 Million for Fintech Arm’s Ambitious Expansion
Southeast Asian ride-hailing and food delivery giant Grab has raised more than $300 million from investors led by South Korea’s Hanwha Asset Management Co. Ltd for its rapidly-expanding financial services business.
- Categories
- Finance
- Region
- South Asia
- Tags
- digital payments, fintech, startups
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Ensuring That Women’s Financial Access Is Not Another Casualty of COVID-19: The Value of Agent Banking
As COVID-19 continues to ravage global economies, the existing gender-poverty gap is set to widen: UN Women projects that for every 100 men aged 25-34 in extreme poverty due to the pandemic, 118 women of the same age will be living in extreme poverty this year. Peris Mburu at FSD Africa explores why agent banking is a promising solution to this growing challenge – and how its benefits can extend beyond access to finance.
- Categories
- Coronavirus, Finance
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Financial Inclusion During – and After – COVID-19: Three Takeaways From a (Very Different) European Microfinance Week 2020
The 2020 European Microfinance Week encapsulated much about the financial inclusion sector – the good, the bad and the simply confusing – as it navigated the historic challenges of the past year. Sam Mendelson at e-MFP shares three broad takeaways from the event, representing three key priorities for the inclusive finance industry as it seeks to adapt to the COVID-19 crisis – without overlooking other essential priorities.
- Categories
- Coronavirus, Finance
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Announcing NextBillion’s Most Influential Articles of 2020
At the end of each year, NextBillion selects 12 of our most-read articles from the previous 12 months, then invites readers to vote for the piece that impacted them the most. We've tallied up the votes, and as 2021 begins we're happy to announce our three most influential articles of 2020. We'd like to thank all the guest writers who contributed articles to NextBillion last year, to congratulate the winners and other contestants in this contest, and to thank everyone who took the time to vote. Best wishes for a safe, happy and prosperous 2021.
- Categories
- Coronavirus, Finance
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Bangladesh Garment Suppliers Hit Hard by Late Payments
47 percent of businesses admit to paying suppliers late, data from the Tungsten Network and the Institute of Finance and Management (IOFM) revealed, as recently reported by Material Handling & Logistics News.
- Categories
- Coronavirus, Finance
- Region
- Asia Pacific
- Tags
- manufacturing
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Umba, a Digital Bank for Emerging Markets, Raises $2 Million Seed Funding to Expand Across Africa
Umba, a digital bank for emerging markets and aiming first at Africa, has secured a $2 million seed funding round from new investors including Lachy Groom, ex-Head of Issuing at Stripe; Ludlow Ventures; Frontline Ventures and Act Venture Capital.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Nigeria’s Apex Bank Bans Mobile Money Operators From Receiving Remittances
The Central Bank of Nigeria (CBN) has suspended Mobile Money Operators, Payment Switch providers from receiving remittances or integrating their systems with International Money Transfer Operators (IMTOs).
- Categories
- Finance
- Region
- Sub-Saharan Africa
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