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M-Pesa, Western Union and Amazon could potentially disrupt Jumia’s e-commerce business
Three countries — Nigeria, Kenya, and South Africa — dominate e-commerce sales. Kenya has a population of 48.5 million and an impressive 79 percent internet penetration. This is because Kenya is home to M-Pesa, the mobile wallet provider started by mobile telecom provider Safaricom. The availability of a secure payment system encourages internet access and online buying.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Omidyar Network spins out its fintech investment arm as Flourish, with up to $300 million
Equipped with up to $300 million in capital for operations and investments, the new Flourish will continue to invest around the Network’s core mission of backing companies with a dual focus on making a social impact and achieving quality financial returns.
- Region
- North America
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Viewpoint: Why investing in women and girls will take off in 2019
Bart Édes of Asian Development Bank writes about the growing body of evidence suggesting that empowering women is critical to boosting global prosperity.
- Region
- Asia Pacific
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Mexican central bank in talks with Amazon about new mobile payments
The payment system, known as CoDi, is being built by central bank Banco de México, known as Banxico. CoDi will allow customers to make payments online and in person through smartphones free of charge using QR codes.
- Categories
- Finance, Technology
- Region
- Latin America
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Nigeria, others to push mobile money accounts to 110 million by 2024, says GSMA
“The mobile money industry is fast-evolving against a backdrop of increasing internet access and smartphone adoption, and now more than ever, mobile’s unparalleled global scale provides a tremendous opportunity to reach the 1.7 billion people who remain financially excluded, said Mats Granryd, Director General, GSMA.”
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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Pakistan’s financial inclusion strategy to create 3 million jobs in five years, says finance minister
The government is fully committed to improving the livelihood of Pakistanis through job creation, promoting entrepreneurship and enhancing access to formal financial services in an efficient and affordable manner, emphasised Finance Minister Asad Umar.
- Categories
- Finance
- Region
- South Asia
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Mexico Ruling Party Says Deal Struck With Banks on Fee Bill
The new version of the bill removes across-the-board prohibitions from the original legislation, but requires banks to offer zero-fee accounts to low income clients, Monreal’s aide Juan Garay said.
- Categories
- Finance
- Region
- Latin America
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European Microfinance Award 2019 Focuses on How Financial Inclusion Sector can Strengthen Resilience to Climate Change
The European Microfinance Award 2019 seeks to highlight organisations active in the financial inclusion sector that provide financial and non-financial products and services aimed at strengthening the resilience of vulnerable communities to the effects of Climate Change.
- Categories
- Finance