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Tanzania: Dar Economy ‘Stable’ As Financial Inclusion Hits 60 Percent
Mobile phone money services have heightened financial inclusion during the past decade from just 11 per cent to over 60 per cent of the population as of now, a new report by the World Bank has revealed.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Financial Inclusion Remains a Work in Progress in South Africa
On the surface, South Africa appears to be financially inclusive compared with other emerging markets: 70% of adults, for example, have a transaction account. However, it’s not nearly as inclusive as most mature markets, and serious and stubborn gaps remain, according to a new report by The Boston Consulting Group.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Bitcoin Startups BitPesa and Bitbond Deliver P2P Loans for African Businesses
Bitcoin startups BitPesa and Bitbond, based in Africa and Germany respectively, have announced a new initiative to bring financing options to businesses in Kenya, Nigeria, Tanzania and Uganda.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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FICO Partners with Operation HOPE to Improve Consumer Financial Health
New alliance supports the HOPE Inside programming model, empowering consumers and uplifting communities through financial literacy.
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- Uncategorized
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MoneyOnMobile plans to invest US $100 million in Mumbai startup
MoneyOnMobile, a Dallas based fintech Investment Company plans to invest about US $100 million in the Mumbai–based pre–paid mobile wallet and remittance service startup, My Mobile Payments Limited (MMPL).
- Categories
- Uncategorized
- Region
- South Asia
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Xiaomi Launches Mobile Micro-Loan Service In China
Xiaomi is launching a new mobile service in China today called Xiaomi Mi Loan. As its name suggests, Xiaomi Mi Loan is an application designed to allow customers in China to apply for micro-credit directly from their smart devices. The application was announced earlier today via Xiaomi’s official MIUI page on China’s social media website Weibo. It is currently available for download on Android smartphones in China, but there’s currently no information on whether the app will also make its way to other platforms, though it’s unlikely to ever be launched outside of Xiaomi’s home country.
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- Technology
- Region
- South Asia
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Digital Payments Made Through UPI See Massive Jump in India
Digital payments through the Unified Payments Interface (UPI), the mobile-based national payment system, continue to surge even after the end of demonetisation-induced cash shortage, latest data from Reserve Bank of India shows.
- Categories
- Technology
- Region
- South Asia
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Cambodian MFIs Predict Lower Earnings in Response to Rate Cap
With the interest rate cap of 18 percent in full force for all new and restructured microfinance loans after the National Bank of Cambodia (NBC) issued a populist measure to curb high interest rates, microfinance institutions (MFIs) are starting to give predictions for lower profits this year as the new lending reality takes hold.
- Categories
- Uncategorized
- Region
- South Asia
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