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Kenyan Consortium Launches Mobile Banking App
CBK Governor Dr. Patrick Njoroge said, "Until now, lending to MSMEs has been constrained by the lack of reliable information to assess their creditworthiness. The innovation in this product is the use of all data on customers' transactions to fill this gap. In that sense it is revolutionary."
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Viewpoint: Will the BUILD Act Improve Lending in Poor Countries and Counter China? The Jury’s Still Out
Judging by the Overseas Private Investment Corp.’s recent lending decisions, so far, the answer to that question appears to be “no.” Why? First, because the majority of the Overseas Private Investment Corp.’s loan portfolio, as of the end of 2018, is still in upper-middle and high-income countries.
- Categories
- Finance
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The Number of ATMs Around the World Has Fallen for the First Time
Bank customers are increasingly turning to their mobile phones for routine financial services, and moving away from cash in favor of credit and debit cards.
- Categories
- Finance, Technology
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Perspective: Will Facebook Make Crypto Relevant For The Underserved?
Earlier this month, the WSJ reported that Facebook is building a team and getting its crypto ducks in a row to launch a “cryptocurrency-based payments system on the back of its gigantic social network.” Public details on the effort are thin and may have been outshone by news that one of Facebook’s co-founders is calling for the company to break up. But the fintech world is predictably aflutter about the perils and opportunities of a brand new digital coin that could allow users to hold and send money safely and securely to nearly every socially networked person on the planet.
- Categories
- Finance, Technology
- Region
- South Asia
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This Senegalese Startup Opens Amazon, Jumia Up to Mobile Money
Senegalese startup Comparez is making it possible for users in nine African countries to order goods from e-commerce platforms like Amazon and Jumia and pay for them using mobile money.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- e-commerce, mobile money
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India Is Shutting Down ATMs Even as People Use Them More
India already has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.
- Categories
- Finance
- Region
- South Asia
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Viewpoint: Reforming Microfinance to Alleviate Poverty, Foster National Development
About 90 per cent of Nigeria’s businesses are considered microenterprises. Despite this huge number, easy access to funds has remained a challenge for most Small and Medium Enterprises, in spite of several government funding initiatives.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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New Banking Model At Play In Nigeria
Nigeria, Africa’s most populous nation, with about 190 million people, wants 80% of its citizens in the banking system by the end of 2020. The central bank reports that 36.8% of the adult population is excluded from the financial system.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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