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MTN Introduces Africa’s ‘First’ AI Service For Mobile Money
The AI mobile money “assistant” enables customers to engage with MTN’s MoMo services, including payments, on various social media platforms such as WhatsApp and Facebook Messenger, and via SMS.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Nigeria Gets Its First Microfinance Bank for Education
“If you fund education, you are touching all sectors of the economy, Two-thirds of Nigerians send their children to private schools. The public school system is inadequate to meet the growing population so the private sector has a role to play to ensure that everybody is educated.”
- Region
- Sub-Saharan Africa
- Tags
- microfinance
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Scaling your Social Enterprise – While Handling your Success: A Q&A with Microfinance Pioneer Alex Counts
Few people know more about the opportunities and pitfalls of scaling a social enterprise than Alex Counts. A seminal figure in microfinance, he led Grameen Foundation's growth from a $6,000 start-up to a $20 million powerhouse, while playing a key role in the often turbulent expansion of the broader microfinance sector. NextBillion caught up with Counts to discuss his latest book, “Changing the World Without Losing Your Mind.” The book – and this Q&A – provide essential advice for social impact leaders working to grow their organizations – and dealing with the new tensions scale can bring.
- Categories
- Finance, Social Enterprise
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The Front Lines of the Digital Revolution: Reasons for Hope and Caution as India Rides the Fintech Boom
India is now the world's second biggest fintech hub, trailing only the U.S. Its digital payments market is set to grow to US $500 billion by 2020, with its overall digital economy predicted to reach 30% of the country’s GDP by 2025. According to Moin Qazi, this ongoing fintech revolution offers a preview of what global banking may look like a generation from now, delivering vast benefits to both providers and customers. But it isn't free of downsides – for both traditional financial institutions losing their market share to tech-based entrants, and for customers navigating new risks.
- Categories
- Finance, Technology
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Airtel Africa to raise $750 million via IPO to reduce debt
Airtel Africa has a presence in 14 countries in Africa. As on December 31, 2018, Airtel Africa was the second largest mobile operator in Africa by number of active subscribers, according to Ovum.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Fintech Adoption up 64% With India and China in the Lead
Fintech adoption rate has risen to an average of 64% this year, with emerging markets like China and India leading the way, according to a report by Ernst & Young (EY).
- Categories
- Finance
- Tags
- fintech
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Big Challenge, Simple Solution: Could Bookkeeping Take India’s Small Businesses from Good to Great?
Small businesses tend to dream big and start small, but somewhere in the middle they do not grow. According to Vikas Kabra at Menterra, in his interactions with small merchants in India, he's noticed a surprisingly simple obstacle to their growth: a lack of bookkeeping. Out of hundreds of micro-merchants he has interacted with, barely any track their day-to-day business performance. Kabra discusses the problem, and calls for new tech-based solutions that could make bookkeeping fast, easy and approachable for small business owners.
- Categories
- Finance
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Kenya Is Mobile Cash King but Ghana and Rwanda Lead in Reach
This means that seven out of every 10 Kenyans are using their mobile phones to access their bank accounts for services to save or get loans coinciding with a change by the lenders and micro-financiers to adopt mobile and digital platforms that cut on operational costs.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech