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Savings Groups: An Inclusive Emerging Economy, With Africa in the Lead
At a time when news about Africa has been dominated by Ebola, it’s worth observing that a highly encouraging change has been quietly spreading across the continent. Over the past five years, the number of Africans — mainly women — who have joined village-based savings and loan associations has soared to more than nine million. These groups are now operating in 40 countries in Africa. Globally, it’s estimated that 10.5 million people are members of formally trained savings groups in about 65 countries. (PDF) The big story about these groups, including their surprising success and emerging importance in development, comes from Africa.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Reserve Bank of India Prohibits Airtel, Vodafone & Idea From Using Existing Channels for Payments Banks Business
The Reserve Bank of India's final rules on payments banks prohibit telecom operators from leveraging their nationwide retailer networks and channels if they enter the new business, but analysts say this is a good opportunity for mobile phone companies to add another revenue stream given their existing consumer connect.
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- Uncategorized
- Region
- South Asia
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Impact Investing Goes Mainstream
The idea of doing good while making a healthy profit is rapidly gaining ground, particularly among wealthy Silicon Valley entrepreneurs but also among foundations and pension funds. Social impact investing — for-profit investing for social good — has crossed into the mainstream and is driving investment decisions.
- Categories
- Impact Assessment
- Tags
- impact investing
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Global Health Looks To BRAC and Gates Foundation for Mobile Money
Bangladesh is going digital. Not in smart watches, sensor-based clothing or electronic health records, but in money. Mobile money. Money, that according to BRAC and the Gates Foundation could improve the economic and health outcomes of the country, especially of women and children. With a healthy appreciation of the complexities in scaling digitally, faith in innovation at the grassroots level and years of planning, these organizations just might make mobile money the future of finance.
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- Uncategorized
- Region
- South Asia
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World Bank Pledges $1.6b for Infrastructure Projects in East Africa
The World Bank said on Saturday it will loan East African nations $1.2 billion (S$1.56 billion) to improve inland waterways and ports in Kenya and Tanzania, as part of efforts to boost integration in the region.
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- Uncategorized
- Region
- Sub-Saharan Africa
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India’s New “Payment Banks” Expected to Spur Innovation
The Reserve Bank of India (RBI) on Thursday released the final guidelines for licensing of payments and small banks. These banks are intended to cover the unbanked and underbanked areas and increase banking penetration in the country, stated the circular. Let’s take a look at the changes that these banks are likely to bring in financial services.
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- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Vodacom Looking to Expand Use of M-pesa
Vodacom is in talks with small and big companies with the aim of getting them to use its mobile payment platform, m-pesa, to pay salaries to employees and allow customers to pay for goods using the system.
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- Uncategorized
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Microloans Help Latinas Become Entrepreneurs In Los Angeles
As if it were a sacred ritual, every week Gloria Sánchez meets to talk business with four other Hispanic women who are on their way to entrepreneurship thanks to the system of microloans.
- Categories
- Uncategorized
- Tags
- microfinance
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