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Bangladesh Faces a Crisis in Remittances Amid COVID-19
The economic importance of the more than 10 million migrants from Bangladesh who sent close to $18 billion in 2019 cannot be overstated. International remittances normally represent around 7% of Bangladesh’s GDP. But the COVID-19 pandemic is having an acute effect on Bangladeshi migrants abroad, who are largely concentrated in countries with strict lockdown measures. Considering the large volume of Bangladeshi migrants in the Middle East, secondary economic impacts through depressed demand and falling oil prices will also likely add strain to the flow of remittances.
- Categories
- Coronavirus, Finance
- Region
- Asia Pacific
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Amid COVID Crisis, an Appeal to Facilitate Migrant Remittances
More than 200 million migrants across the globe send remittances to their home countries, many of them on the African continent, and that means some 800 million family members depend on them.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
- Tags
- migrants, remittances
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Financial Inclusion in the Wake of COVID-19
Lack of access to financial tools—like credit and savings accounts—inhibit socio-economic mobility for individuals living in poverty across the globe. For approximately the past 40 years, there has been a movement toward financial inclusion for emerging markets such as those found in sub-Saharan Africa, but the progress made thus far is now facing a grim outlook due to the global coronavirus pandemic. In this post, we will explore imminent threats posed to financial inclusion that are anticipated to trickle down as the effects of COVID-19 continue to be felt around the globe.
- Categories
- Coronavirus, Finance
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Fintech Funding in Asia Suffers Under Coronavirus Impact
A lack of mega funding rounds and India heavily scrutinizing inbound capital have made for a dramatic quarterly drop for fintech funding.
- Categories
- Coronavirus, Finance, Technology
- Region
- Asia Pacific
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With $715B in AUM, Impact Investors Stay the Course, Despite the Pandemic
Amid a backdrop of a global pandemic and protests against brutal treatment of African Americans by police and systemic racism, the Global Impact Investing Network (GIIN) just produced its 10th annual survey of the market.
- Categories
- Coronavirus, Finance, Investing
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COVID-19 Has Squeezed Migrants’ Remittances to Their Families
A new report highlights the potential gains from digitisation
- Categories
- Coronavirus, Finance
- Tags
- migrants, remittances
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Identification Management: The Key to Digital and Financial Inclusion in Nigeria
In a report titled 'State of Play: Fintech in Nigeria' by The Economist Intelligence Unit, sponsored by MTN Nigeria and Mastercard, examined key trends in the fintech sector in Nigeria and assessed both industry drivers and impediments to growth in the sector.
- Region
- Sub-Saharan Africa
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The Newly-Launched Uber Cash Is the New Nightmare for Uber Drivers in Africa
Five days ago, global ride-hailing giant, Uber, announced the addition of a new payment feature to its app for users in Africa. However, this is the sort of development that would’ve gotten Uber drivers bummed as much as it got Uber and its users pumped.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments