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How Informal Employment in Emerging Markets is Boosting Fintechs in Alternative Lending
The informal sector, which official GDP does not reflect, holds a significant share in the economies of developing countries. At the same time, if the volume of goods and services produced informally is rarely more than 40 percent of the official GDP, then the share of people employed off the books can be incomparably higher.
- Categories
- Finance
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Ant Invests $40M In Indonesia FinTech Akulaku
Launched in 2016, Akulaku started out with a virtual credit card before developing its own eCommerce platform, boasting 3C products and virtual payment scenarios.
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- Finance
- Region
- Asia Pacific
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Press release: IDB Invest provides loan to Mundo Mujer, the largest private microfinance bank in Colombia
The financing allows Banco Mundo Mujer to increase its loan portfolio to support communities with easy and quick access to working capital, strengthening its businesses and productive units.
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- Finance
- Region
- Latin America
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Central Bank of Nigeria unveils strategy to achieve 80% financial inclusion
The CBN stated that “the major goal of this revised strategy is to reduce the proportion of adult Nigerians that are financially excluded to 20 percent in year 2020 from it baseline figure of 46.3 percent in 2010.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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India sees encouraging rise of green finance
With about 1.2 billion more people expected to live in Asian cities in 35 years, the cities have the potential to attract more than USD 20 trillion in climate-related investments in six key sectors by 2030, according to a recent report by International Finance Corporation.
- Categories
- Environment, Finance
- Region
- South Asia
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Mexico launches major initiative to boost financial sector
"The main objectives of these actions are to increase the coverage of the financial sector and promote liquidity in the stock market, introduce a more efficient payment system for the population, and overall, facilitate and promote savings mobilization, channeling them into productive investments," read a press release from the finance ministry.
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- Finance
- Region
- Latin America
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M-Pesa to offer cash advances to clients
Safaricom users can now pay for goods and services even when they lack enough funds, piling pressure on conventional banks.
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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Why the next big thing in fintech is not mobile payments
The next big thing in fintech isn’t mobile payments – it’s data.
- Categories
- Finance
- Region
- Asia Pacific