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Savings Groups: An Inclusive Emerging Economy, With Africa in the Lead
At a time when news about Africa has been dominated by Ebola, it’s worth observing that a highly encouraging change has been quietly spreading across the continent. Over the past five years, the number of Africans — mainly women — who have joined village-based savings and loan associations has soared to more than nine million. These groups are now operating in 40 countries in Africa. Globally, it’s estimated that 10.5 million people are members of formally trained savings groups in about 65 countries. (PDF) The big story about these groups, including their surprising success and emerging importance in development, comes from Africa.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Reserve Bank of India Prohibits Airtel, Vodafone & Idea From Using Existing Channels for Payments Banks Business
The Reserve Bank of India's final rules on payments banks prohibit telecom operators from leveraging their nationwide retailer networks and channels if they enter the new business, but analysts say this is a good opportunity for mobile phone companies to add another revenue stream given their existing consumer connect.
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- Uncategorized
- Region
- South Asia
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Global Health Looks To BRAC and Gates Foundation for Mobile Money
Bangladesh is going digital. Not in smart watches, sensor-based clothing or electronic health records, but in money. Mobile money. Money, that according to BRAC and the Gates Foundation could improve the economic and health outcomes of the country, especially of women and children. With a healthy appreciation of the complexities in scaling digitally, faith in innovation at the grassroots level and years of planning, these organizations just might make mobile money the future of finance.
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- Uncategorized
- Region
- South Asia
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World Bank Pledges $1.6b for Infrastructure Projects in East Africa
The World Bank said on Saturday it will loan East African nations $1.2 billion (S$1.56 billion) to improve inland waterways and ports in Kenya and Tanzania, as part of efforts to boost integration in the region.
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- Uncategorized
- Region
- Sub-Saharan Africa
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India’s New “Payment Banks” Expected to Spur Innovation
The Reserve Bank of India (RBI) on Thursday released the final guidelines for licensing of payments and small banks. These banks are intended to cover the unbanked and underbanked areas and increase banking penetration in the country, stated the circular. Let’s take a look at the changes that these banks are likely to bring in financial services.
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- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Vodacom Looking to Expand Use of M-pesa
Vodacom is in talks with small and big companies with the aim of getting them to use its mobile payment platform, m-pesa, to pay salaries to employees and allow customers to pay for goods using the system.
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Weekly Roundup – 11/27/14: Giving thanks, near and far
We’re wrapping up the week a bit early due to the Thanksgiving holiday week. NextBillion will resume its normal publishing schedule on Monday. For U.S. readers, on behalf of the NB team, we hope you had/have a happy Thanksgiving. For our non-American audience, which comprises the vast majority of our readers, we wish you the same holiday sentiments; those being abundance and health, and the blessings that come with each.
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It’s About Launching Ecosystems, Not Just Products: Insights on the next generation of mobile financial services from the Mondato Summit Asia
As the explosive growth of mobile financial services (MFS) reshapes economies around the world, the Mondato Summit Asia brought an impressive line-up of speakers and panelists from all parts of the ecosystem to explore the next generation of MFS in Southeast Asia. Chris Connolly delivers some highlights - and tweets - from the recent conference.
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- Uncategorized
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