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Indonesia regulator expects fintech firms to double to 250 by year-end
Indonesia – the largest economy in the south east Asian region – is betting on the great big fintech opportunity riding on its demographics and unbanked population. Indonesia, which has already seen the emergence of 130 fintech companies, is expecting this number to double in a year with $3.6 billion worth of transactions on this model over the next one year, deputy director of OJK, the financial services regulator, Pak Tuahta Aloysius Saraguh, said in an interaction. Pak Aloysius has been instrumental in encouraging the Fintech industry in Indonesia.
- Categories
- Technology
- Region
- South Asia
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Equity mobile cash platform cuts Safaricom market share
Equity Bank’s mobile banking platform accounted for over a fifth of mobile money transfers in the latest sector statistics by the Communication Authority of Kenya.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Africa long way off from introducing first ‘unicorn’
Continent continues to innovate while waiting for the first US$1bn company.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Impact investor Acumen to launch India-dedicated fund
Global impact investor Acumen is planning to launch an India-dedicated fund, as the investor looks to double down on its most significant geography, said a senior executive of the firm.
- Categories
- Impact Assessment, Investing
- Region
- South Asia
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Crisis Looms in Southern India’s Microfinance Sector
Trouble for the Rs 57,000-crore microfinance sector is brewing again with drought-hit Karnataka, the largest MFI market with about 14% share, emerging as the new stress point with non-payment of dues. There are repayment concerns also in some smaller pockets of Tamil Nadu, two persons familiar with the development said. As many as 20 NBFC-MFIs, including all the large ones, operate in Karnataka, which is otherwise a mature market for microfinance activity.
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- Uncategorized
- Region
- South Asia
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MetLife Renews Sponsorship Of “Multipliers of Prosperity” Financial Inclusion Site
MetLife Foundation today proudly announces its third year as sponsor of Multipliers of Prosperity, an award winning custom content hub led by WSJ. Custom Studios that helps raise awareness about the challenges and opportunities in the realm of financial inclusion.
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- Uncategorized
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Indian MFI Spandana Sphoorty raises $270 million
Microfinance lender Spandana Sphoorty Financial Ltd has raised $270 million of funding, which will facilitate its exit from the corporate debt restructuring cell (CDR) after seven years, it said in a statement on 31 March.
- Categories
- Uncategorized
- Region
- South Asia
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Ford Foundation to Put $1 Billion of Endowment in Impact Funds
The Ford Foundation is committing $1 billion of its endowment over the next 10 years to money managers who invest in affordable housing and financial services for people in developing countries.
- Categories
- Uncategorized
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