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Heifer International Joins Libra Association to ‘Support Financial Inclusion’
Global nonprofit Heifer International is joining the Libra Association, it announced Monday, becoming the 23rd official member of the organization.
- Categories
- Finance, Technology
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Migrant Wages Sent Home Set to Drop $142 Billion in 2020
The World Bank on Wednesday said that drop of almost 20% in money migrant workers send home - about four times greater to low- and middle-income countries than during the 2009 financial crisis - would largely be due to a fall in their wages and employment overseas.
- Categories
- Coronavirus, Finance
- Tags
- remittances
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Facebook in Talks Over Mobile Money in Indonesia
Three e-wallet operators interested in working with Facebook Pay to tap into massive Southeast Asian market.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital finance, fintech
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Zimbabwe Is on Lockdown, but Money-Changers Are Still Busy
A chronic shortage of Zimbabwean dollar notes and US dollars keeps money-changing services in high demand.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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The SDGs Are Falling Short on African Poverty: SME Investment Could be a Game Changer
Though the UN's first Sustainable Development Goal aims to eradicate poverty, this goal is not on track to be met – particularly in sub-Saharan Africa, where projections indicate that over 23% of the population will still be living in extreme poverty in 2030. Trevor Hambayi argues that there's a clear need to look past the UN's favored strategies of addressing poverty through government and NGOs, and to focus instead on unlocking the potential of Africa's small and medium enterprises.
- Categories
- Finance
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World Bank Group Plans $12M Loan to Mongolia Microfinance Company
With the deal, Transcapital will be able to provide more access to finance for small enterprises and underserved individuals, especially women and people living outside the capital of Ulaanbaatar, IFC said.
- Categories
- Finance
- Region
- Asia Pacific
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Coronavirus Could Spark Demand for E-Wallets, Digital Banks in LatAm
The coronavirus outbreak could drive financial inclusion in Latin America, as governments look for agile partners to distribute state aid and large segments of the informal economy grapple with restricted access to cash.
- Categories
- Coronavirus, Finance
- Region
- Latin America
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In Africa, COVID-19 Crisis Puts Squeeze on Millions Who Rely on Remittances
Remittances amount to 5% of GDP in at least 13 African countries. For some, like tiny Lesotho, they amount to 23% of its annual income. With stay-at-home orders throwing millions out of work in Western countries, millions of Africans are feeling the pinch.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances