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Fintech Predicted to Contribute $150 Billion to Africa’s GDP by 2022
“If you look at the value chain, most of that money is coming out of mobile-phone companies,” Osano said. “So from the other support services the contribution is not much, but is expected to increase as fintech develops to address the financial needs of people or making services more accessible.”
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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India’s push for financial inclusion gets a fresh impetus
Pradhan Mantri Jan Dhan Yojana will now be an open-ended scheme and have double the overdraft facility along with a higher insurance cover.
- Region
- South Asia
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Press release: Xoom Partners with OXXO to Add More Than 17,000 New Cash Pickup Locations in Mexico
“We’re thrilled to be the first online-only remittance provider to partner with OXXO,” said Julian King, Xoom’s Vice President and General Manager. “With this partnership, Xoom is furthering its mission to empower customers with the technology to send international money transfers quickly and securely so they can enjoy peace of mind knowing their loved ones have fast and convenient access to their funds.”
- Source
- Press release
- Categories
- Finance
- Region
- Latin America
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Press release: FINCA Impact Finance and KfW Announce USD 8.5 Million Subordinated Loan Facility for Democratic Republic of Congo
FINCA Impact Finance is furthering its strategy of diversifying its sources of funding to pursue digital transformation and promote financial inclusion through mobilizing deposits and local currency debt funding. In the past year, it has attracted worldwide attention and interest from the investment community after issuing bond offerings in its subsidiaries in Pakistan, Nicaragua and Armenia, allowing greater flexibility to manage foreign exchange and geographic risks.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Viewpoint: Don’t forget people in the use of big data for development
Information from satellites, mobile phones and other sources is not a panacea for international-development problems, warns Joshua Blumenstock.
- Categories
- Impact Assessment, Technology
- Tags
- data, global development
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No savior: Can blended finance work for WASH?
While many say there is new momentum building around innovative financing streams, discussions at the recent Stockholm World Water Week conference made clear that more focus is needed on building up the “demand-side,” rather than solely on developing what one delegate described as “sexy” financial instruments.
- Categories
- WASH
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Bill Gates Foundation eyes Kenya’s mobile money with Mojaloop software
Mojaloop will be expected to connect the six mobile money providers and 44 registered banks upon securing approval.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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With a $10 million round, Nigeria’s Paga plans global expansion
The company is planning to release its payments product in Ethiopia, Mexico, and the Philippines— CEO Tayo Oviosu told TechCrunch at Disrupt San Francisco.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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