-
Kenyan diaspora is the biggest sender of mobile money
To mark the 10th anniversary of mobile money service M-PESA, WorldRemit has released new data showing that the Kenyan diaspora is the biggest sender of digital remittances to mobile accounts. Transfers to mobile money accounts make up 93% of WorldRemit transactions to Kenya now – showing that Kenyans continue to be early adopters of innovative technology, even when abroad.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments
-
Has the Indian Government’s Microloan Scheme Been Successful?
The government’s micro loan scheme, going by the moniker Pradhan Mantri Mudra Yojana, has disbursed Rs1.53 trillion worth of loans so far in 2016-17, which represents a 15.04% growth from the previous fiscal year. Recall that in fiscal year 2016 (FY16), when the scheme was first implemented, disbursements had exceeded the target specified by that year’s budget.
- Categories
- Uncategorized
- Region
- South Asia
-
Insurance in Africa: The threat of tech
No insurer wants to see new innovators encroaching on their territory. To outflank them, some are working with these fintech companies to help pursue their own technological projects, reach the continent’s large uninsured populations, develop new products and cut costs.
- Categories
- Technology
- Region
- Sub-Saharan Africa
-
Indian Entrepreneurs Compete in the Inclusion Plus Final Round
Artoo, Badhti Bachat of Janalakshmi, Shram Sarathi, Suvidhaa Nanocredit and Swadhaar Saathi have been selected as finalists in the third wave of Inclusion Plus, a global competition, managed by Verb, Inc., for entrepreneurs to accelerate financial inclusion.
- Categories
- Uncategorized
- Region
- South Asia
-
Fintech Deals in South East Asia Hit Record Numbers in 2016
The total number of venture-backed deals to fintech companies in South East Asia (i.e. Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) reached record highs in 2016 according to data released by CB Insights recently.
- Categories
- Technology
- Region
- Asia Pacific
-
Smartphones are making Kenya’s gambling problem even worse
Smartphones have been hailed in Africa for everything from improving emergency and rural health care to enabling e-commerce and better supply chains. But in some cases, their contribution to improving society may be debatable.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech
-
Cambodian MFIs relax stance on rates cap
Microfinance institutions will not object to an 18 percent cap on interest rates which comes into effect on April 1, a senior official from the Cambodia Microfinance Association said. Association president Hout Ieng Tong said yesterday they would not seek a rise in the rate because the government had considered the issue thoroughly before ordering the cap.
- Categories
- Uncategorized
- Region
- South Asia
-
Economy & Nation Defaults rising in MFI loan book post demonetisation
Post demonetisation, the delinquencies in microfinance institutions (MFI) loan books are rising. Ratings agency ICRA recently downgraded its outlook on two prominent MFIs to negative from stable, mainly due to limited currency supply and disruption in borrower cash flows, which hampered overall the collection efficiency of these lenders
- Categories
- Technology
- Region
- South Asia
Subscribe to Our 'Business in Global Development' Newsletter!
Our new weekly LinkedIn newsletter features NextBillion's latest original articles, along with curated news, jobs, bizdev opportunities and events from our recent coverage of impact-focused business in emerging markets.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.