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African Development Bank to Launch $270M Fund for Social Impact Investors
The African Development Bank is setting up a new US$270m social impact fund to support small and medium-sized enterprises.
- Region
- Sub-Saharan Africa
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Brazilian FinTech Rebel Lands $10M For Affordable Loan Products
"Traditional banks claim that credit in Brazil is expensive because of delinquency rates; but in reality, delinquency is high because the country has the highest interest rates in the world. It is a perverse and vicious cycle, and a difficult one to overturn. That’s why we are rebels: Our goal is to break up with this loop and start a new and virtuous cycle.”
- Categories
- Finance
- Region
- Latin America
- Tags
- fintech
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Kenya’s Safaricom Tests New Mobile Savings Service
Policymakers say the East African nation suffers from a low national savings rate and analysts said Safaricom could be looking to target that untapped market with the new product, dubbed “Mali” (Kiswahili for wealth).
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Lessons From M-Pesa for Africa’s New VC-Rich Fintech Startups
Over the last decade, Africa has been in the midst of a startup boom accompanied by big growth in VC and improvements in internet and mobile penetration.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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This Digital Platform Fights Corruption by Bypassing the Officials Demanding Bribes
In the Democratic Republic of Congo, the tax payment system could require many kickbacks to corrupt officials. A new digital platform lets people pay their taxes directly.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, governance
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Kredivo’s Parent Firm FinAccel Raises $90m to Expand Its Credit Lending Platform in Southeast Asia
The app enables customers to secure credit between $100 and $2,200. If a customer pays it back in full in a month, FinAccel does not charge them any fee.
- Categories
- Finance
- Region
- Asia Pacific
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Report: Over 70% of Ghanaians Trust Mobile Money More Than Financial Institutions
Over 70% of Ghanaians trust mobile money more than other financial institutions.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Goldman Makes Biggest Mexico Fintech Bet With MercadoLibre Loan
Goldman Sachs Group Inc. agreed to lend $125 million to Mercado Credito, the bank’s third loan to a Latin American fintech this year and the biggest ever in Mexico.
- Categories
- Finance
- Region
- Latin America