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IFC and VCs Want To Take Emerging Market Microfinance To Mobile
The developing world needs more fintech companies to extend financial inclusion to consumers and small businesses who aren't being served by existing banks. That's the thinking behind several venture capital firms which are working with the International Finance Corporation (IFC).
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Pakistan Government to Set up $75 Million Fund for Small Borrowers, Microentrepreneurs
The government has decided to set up a $75-million fund at the State Bank of Pakistan for borrowers interested in setting up small businesses, which is also expected to attract people to vote for the ruling Pakistan Muslim League-Nawaz (PML-N) in the upcoming general elections.
- Region
- South Asia
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Press release: Center for Financial Services Innovation Launches “U.S. Financial Health Pulse”
“CFSI first explored the concept of financial health using a landmark research project that found a majority of American households were financially unhealthy,” said Jennifer Tescher, founder and CEO of CFSI. “The U.S. Financial Health Pulse is the next phase in a critical effort to advance financial health in America.”
- Source
- Press release
- Region
- North America
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How poor rural women drove Bandhan Bank’s spectacular stock market debut
Bandhan Bank, established less than three years ago, is one of India’s newest banks. Still, it just completed a highly successful initial public offering, or IPO, which has put it at the forefront of Indian banking.
- Region
- South Asia
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Spate Of Defaults In Microfinance Securitisation Transactions Raises Concern in India
The similarity of borrowers from microfinance institutions (MFIs), in terms of their vulnerability to socio political events, financial literacy and credit behaviour, renders the microfinance sector susceptible to any kind of adverse idiosyncratic event and more so in case of a system-wide event such as demonetisation.
- Region
- South Asia
- Tags
- lending, microfinance
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How mobile loan platforms have lured Kenyans into debt trap
Just as a sluggish economy in which exports have underperformed has forced Kenya to arrange for another credit to settle a loan that was maturing, tough economic times such as poor business performance, lay-offs, or delayed salary have seen digital borrowers struggle to repay their loans.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Reserve Bank of Zimbabwe Moves to Protect Mobile Money Users
THE Reserve Bank of Zimbabwe (RBZ) has amended the National Payment Systems Act to prevent close to five million mobile money subscribers from losing their money should network operators (MNOs) collapse, an official has said.
- Region
- Sub-Saharan Africa
- Tags
- digital payments
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How an African startup built a bitcoin network while crypto’s reputation crumbled
When jobs in banking dried up after the global economic crash in 2008, Elizabeth Rossiello went to work in Africa at several microfinance operations, where she saw firsthand how Kenya’s recently launched M-Pesa mobile money service was transforming payments. Then, Rossiello heard that cryptocurrencies would be the next big thing. In 2013 she founded BitPesa, a digital foreign exchange and payments platform based in Nairobi.
- Categories
- Finance
- Tags
- cryptocurrency