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Nigeria promoting financial inclusion through prize-linked promotions
Showy and appealing, prize-linked promotions (PLPs) are the modern version of ‘Million Adventure’, a savings programme launched in the UK in 1694. Anne Murphy in “Lotteries in the 1690s: Investment or Gamble?” described it as “an unprecedented large-scale financial saving tool”. Thomas Neale, who was in charge of the promo commenting on its success said: ‘many Thousands who only have small sums, and cannot now bring them into the Publick, [may now] engage themselves in this Fund’.
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Reserve Bank of India panel suggests new set of banks for financial inclusion
RBI panel headed by Nachiket Mor also seeks universal electronic bank account for all adult Indian citizens by January 2016.
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Spreading hope one box at a time
Over 20 artists share their works to aid victims of typhoon ‘Yolanda’
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- Asia Pacific
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Zimbabwe imposes mobile money tax
Zimbabwe has started levying a tax on mobile money transactions after intense lobbying from the Bankers Association of Zimbabwe (BAZ) for the Zimbabwean central bank to regulate mobile money services “to create a level playing field” in the financial services sector.
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- Region
- Sub-Saharan Africa
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- governance, mobile finance
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Press Release: Deutsche Bank Reaches $100 Million Commitment Target for its Client-Centric Microfinance Fund
Deutsche Bank announced today it has reached the USD 100 million commitment target for Global Commercial Microfinance Consortium II ("Consortium II"), a first-ever fund to support the growth of microfinance institutions ("MFIs") that pursue a high level of client care, transparency of operations and pricing, and product innovation.
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- microfinance
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A New Way to ‘Experience’ Favelas: A social enterprise bringing tourists and favela residents under one roof
Favela Experience offers authentic room and apartment rentals to travelers in Rio’s safe and vibrant favela communities. The social venture aims to generate sustainable income for favela host families while breaking negative stereotypes about favelas.
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Tony Elumelu’s new Africapitalism
Global development leaders can’t seem to get enough of Tony Elumelu, the soft-spoken Nigerian banker and philanthropist who last year made headlines when he announced a $2.5 billion investment in U.S. President Barack Obama’s Power Africa initiative.
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Open thread: vote for your favourite development innovation
The honey that heals, the app that helps reunite families after natural disasters, Haiti's miracle moringa tree – which of our dozen development innovations caught your eye?
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