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Delivering on Mass Market Insurance in Africa: Debunking the Myth of Low Demand
Africa’s insurance penetration rate in 2019 was only 2.78%, significantly lower than the global average — and insurance usage is concentrated among the urban elite, with minimal adoption among the people with the most risk of financial shocks. According to Ted Pantone at Turaco, there's a widespread belief in the industry that this lack of uptake means African customers don't see value in the benefits of insurance. But he argues that Turaco’s rapid growth in Africa is debunking that myth. He explores three aspects of the company's model that have enabled it to unlock African customers' latent demand for insurance.
- Categories
- Finance, Telecommunications
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Kenya to Employ Mobile Money to Fight Tax Evasion
Kenya has introduced a new policy aimed at using mobile money to curb tax evasion in that country.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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PhonePe Raises $350 Million From General Atlantic at $12 Billion Valuation
Walmart-owned PhonePe on Thursday said it has $350 million in its latest funding round from General Atlantic at a pre-money valuation of $12 billion.
- Categories
- Finance, Investing, Telecommunications
- Region
- Asia Pacific
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We Asked Small Business Owners How Digitalization is Impacting Their Businesses: Here’s How They Responded
Digitalization has become the go-to strategy for improving the performance of Latin America’s micro and small enterprises (MSEs). But according to Daryl Collins and Maria Pia Torres at Decodis, we know little about how MSE owners themselves experience these changes. They share insights from Decodis' surveys of 114 mostly women-led MSEs in Colombia, Mexico and Peru, which highlight how digital solutions have become embedded in these businesses – and where business owners see the most value in digitalization.
- Categories
- Finance, Technology, Telecommunications
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Simba Telecom to Invest $1 Million in New Year Investment Plans to Boost Its Market Presence
The investment will allow Simba Group to reach wider geographical zones and ultimately improve speed to market.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Taking a Virtual Trip to the Last Mile: How an Innovative Program is Harnessing Virtual Reality to Advance Progress Toward the SDGs
Boosted by growing internet access and fueled by the pandemic, the virtual reality (VR) market has become the fastest-growing media segment, projected to reach US $185 billion by 2026. According to Julia Winterflood at Kopernik, the immersive nature of VR makes it uniquely suited to raising awareness of social challenges, and the technology is finding applications in the global development sector. She explores how Kopernik is leveraging virtual reality videos to document challenges faced by underserved communities and accelerate progress toward the SDGs.
- Categories
- Social Enterprise, Technology, Telecommunications
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Access, Understanding and Trust: Breaking Down the Barriers to Women’s Participation in India’s Digital Finance Revolution
The digital gender divide has long occupied international development headlines, as gaps remain between men and women in both access to and usage of digital technologies in many emerging economies. According to Anant Nyshadham at Good Business Lab, Shalin Gor and Divya Nair, and Emily Coppel at IDinsight, India is no exception. They explore the three types of obstacles that are preventing Indian women from participating in digital financial services, and share some implications for providers of these services.
- Categories
- Finance, Technology, Telecommunications
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The Power of Trust in Digital Finance: How to Leverage Trusted Technology to Maximize Inclusion and Impact
Trust can be a significant barrier to engagement in digital financial services among low-income users. According to William Derban at Opportunity International, that means providers must often take measures to address this trust deficit when developing digital services that target these customers — particularly women. He discusses Opportunity International's new Trusted Tech Microfinance Initiative, and shares six ways the initiative is working to build clients’ trust in the technologies Opportunity and its microfinance partners are using.
- Categories
- Finance, Technology, Telecommunications
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