NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

European Investment Bank and International Monetary Fund join forces to boost financial inclusion in Africa

The European Investment Bank (EIB), the EU Bank and the International Monetary Fund (IMF) have signed a letter of understanding to promote sustainable economic development, financial stability and inclusive growth in Africa

Source

African Review (link opens in a new window)

Region

Sub-Saharan Africa

Tags

Africa, banks, economic development, financial access, financial inclusion, financial services, IMF

Block-chain based microfinancing for Kenyan food stall owners

IBM Research and Twiga Food will be extending access to microloans to 220 food stall retailers across Kenya using a block-chain based financing system.

Source

IOL News (link opens in a new window)

Categories

Entrepreneurship, Inclusive Fintech

Region

Sub-Saharan Africa

Tags

blockchain, financial services, fintech, Kenya, microfinance, microlending, microloans

Social Enterprise Certification Launches in Australia

Social enterprises in Australia will be able to receive national certification for the first time, with the launch of a new certification scheme.

Source

Pro Bono Australia (link opens in a new window)

Region

Asia Pacific

Tags

Australia, social business, social enterprise, social entrepreneurship, social impact, social innovation

Launch in Karachi: National incubation centre to start operations

After making inroads into Lahore, Islamabad and Peshawar, a national incubation centre (NIC) is being established in Karachi to train youth who are looking forward to becoming tech-based entrepreneurs with the objective of dismantling old-fashioned systems and introducing new creative solutions.

Source

The Express Tribune (link opens in a new window)

Categories

Entrepreneurship, Technology

Region

South Asia

Tags

education, entrepreneurship, Pakistan, poverty alleviation, startups, technology

Gates Foundation lays out its 3 steps to global financial inclusion

“In the case of financial inclusion, it’s not about building a parallel system for poor people, but it’s about building inclusive solution for everyone,” Voorhies said.

Source

Yahoo Finance (link opens in a new window)

Tags

Bill & Melinda Gates Foundation, financial access, financial inclusion, financial services, poverty alleviation, unbanked, World Bank

India accounts for 55% of new bank accounts opened globally: World Bank

India's financial inclusion efforts have won recognition from the World Bank as their data indicate that 55 per cent of new bank accounts opened are from India, Financial Services Secretary Rajiv Kumar said.

Source

Business Today (link opens in a new window)

Region

South Asia

Tags

banking, banks, financial inclusion, financial services, India, World Bank

100m Pakistanis without a bank account, says World Bank

Pakistan is home to 100 million adults without a bank account, with 13 per cent adults citing religious concerns as a reason for not having account at a financial institution, a World Bank report on the use of financial services revealed.

Source

Dawn (link opens in a new window)

Region

South Asia

Tags

banking, financial inclusion, financial services, Pakistan, unbanked, World Bank

Avenue Capital to Launch ‘Impact’ Investment Fund, Source Says

Avenue Capital Group LLC, a New York-based investment firm with $9.4 billion in assets under management, plans to launch a fund this year that will focus on so-called impact credit investments, according to a person familiar with the matter.

Source

Reuters (link opens in a new window)

Categories

Investing

Tags

debt, equity, ESG investing, financial services, impact investing, investing, investors