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Study: How microfinance may lead to indebtedness
The authors found that more than 56% of the households in rural areas and 35% in urban areas were over-indebted, on the basis of a survey of 280 rural and urban households from microfinance markets across 10 districts in Andhra Pradesh, Telangana, Odisha, Kerala and West Bengal in 2015-2016.
- Categories
- Finance
- Region
- South Asia
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Client Protection in the Age of Fintech: New Standards Promote Best Practices in Digital Finance
Technology has vast potential to improve lives, and fintech is no exception – but it also has some clear risks and downsides. And linking a complex industry like digital finance with client protection is no easy task. Lucia Spaggiari at MFR and Isabelle Barres at Accion’s Smart Campaign explore their organizations’ joint efforts to tackle this challenge through new client protection standards for digital credit providers. They invite people to provide input on these draft standards during the six-week public comment period, which runs until March 22.
- Categories
- Finance, Technology
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Press release: CFSI & AARP Foundation Survey: Today’s Low- to Moderate-Income Adults Over 50 Face Difficult Financial Challenges
“For too many low-income older adults, the later years are a source of stress instead of something to look forward to,” said Lisa Marsh Ryerson, president of AARP Foundation. “AARP Foundation works across sectors to develop new, sustainable solutions so vulnerable older adults can achieve a more financially stable future.”
- Categories
- Finance
- Region
- North America
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Uganda Calls on Mobile Money to Cultivate New Debt Investors
Ugandans with mobile money accounts, many of whom had limited access to banks, will now be able to directly buy government debt. The move follows a similar move by Kenya in 2017 and will also open the market up to Uganda’s Diaspora.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Enough Equity Financing: Why the Future of Impact Fintechs Depends on Private Debt
Many high-profile impact-focused fintech firms have been successful in raising Series A and B equity rounds, and many believe that form of capital can serve both growth and scale goals. But it can’t, says John Beckham, Chief Investment Officer at MicroVest Capital Management. Instead, he advocates more debt financing for fintechs that have proven their models. He explores why investors should embrace private debt as a key opportunity to turn a nascent marketplace for impact fintechs into a thriving one.
- Categories
- Entrepreneurship, Finance, Investing, Technology
- Tags
- debt, fintech, impact investing, social impact
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Mobile lenders drive microfinance entities to early grave
The zenith of microfinance lending in Kenya, as perfected by institutions such as Kenya Women Microfinance Bank saw many poor borrowers saddled with untenable debts.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Viewpoint: Can the World Bank Redeem Itself?
Development outcomes depend on poor countries’ external economic environment, which is shaped by the policies of the major economies. And when it comes to promoting sound policies, the World Bank has fallen far short in recent decades, exemplified by three major intellectual sins of omission.
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Press release: Prodigy Finance Launches Refinance Product for International Working Graduates Looking to Reduce Financial Costs
Prodigy Finance, the pioneer in cross-border finance, announces the launch of a loan refinance product for international working graduates looking to reduce their student debt. The product will allow these alumni, who previously had limited options available to them, to save at least US$20,000 over the life of the loan, by accessing lower rates and choice of terms.
- Source
- Press release
- Tags
- debt, education, finance, financial health
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