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Fewer Poor People are Saving: What Does That Mean for Microfinance and Mobile Money?
As the world grows richer and the financial inclusion movement steams ahead, savings rates are abysmally low across the globe. In fact, over half of all adults on the planet saved nothing in the last year – neither bank deposits nor cash stuffed in drawers. In the third of a four-part series analyzing the much-discussed 2017 Global Findex, Scott Graham of FINCA International explores the savings habits of individuals worldwide – particularly in the developing world – and the implications for financial services providers.
- Categories
- Finance
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MTN’s successful IPO in Ghana shows the far-reaching potential of mobile money in Africa
MTN successfully pulled off a first: a historic initial public offering done mainly through mobile money.
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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EFInA Boosts Financial Inclusion in Nigeria with $2m FinTech Challenge Fund
The fund is expected to boost the usage of financial services by the low-income population in Nigeria.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Press release: WorldRemit launches digital money transfers within Africa
Leading international money transfer company WorldRemit has launched a new digital service within Africa, making it easier to send and receive money across the continent.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Tanzania’s Nala wins Ecobank Fintech Challenge
After being named overall winner of the annual challenge, which is run annually by Ecobank and was last year won by Nigerian fintech startup IroFit, Nala walks away with US$10,000 in prize money.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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Indonesia’s Go-Jek to partner with peer-to-peer lending firms
Go-Jek, whose backers include Alphabet Inc’s Google and China’s Tencent Holdings, has grown rapidly since launching eight years ago in Indonesia, a country with a population of more than 250 million people.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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Press release: Tulaa is winner of the MIT Zambezi Prize for Innovation in Financial Inclusion
"Being awarded this prestigious prize is wonderful recognition of our team's efforts to use innovative technology to unlock the potential in rural markets in Africa, " said Hillary Miller-Wise, Founder and CEO of Tulaa. "We are humbled to have been selected from a cohort of exciting and innovative startups on the continent."
- Source
- Press release
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Nigerian fintech startup Mines plans expansion after $13m funding round
Nigerian fintech startup Mines is planning to expand to other African markets, as well as some in Southeast Asia and Latin America, after securing significant funding last month.
- Region
- Sub-Saharan Africa