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Reaching Informal Savings Groups with Formal Financial Products: A Study’s Unexpected Findings Reveal the Challenges of Digitizing Transactions
Formalizing the financial activities of informal savings groups has long been a priority in financial inclusion. Since 2015, the Savings at the Frontier program has worked to deepen the relationships between these groups and formal financial service providers, on the assumption that this would lead group members to open individual accounts and reap the benefits of digital transactions. But as Raksha Vasudevan explains, the results of a program evaluation have challenged these assumptions. She explores these findings, and their implications for efforts to digitize informal savings groups.
- Categories
- Finance, Impact Assessment, Technology
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YC-backed Namibian Startup JABU Gets $3.2 Million for Its B2B E-commerce and Retail Play
As a last-mile distribution e-commerce company, JABU joins a list of startups across the continent that help small retailers order and stock their products and, at the same time, provide data-driven services to suppliers and manufacturers.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Paylend, a Kenyan FinTech Company Raises $2 Million Seed Investment From Next Chymia Consulting HK Limited
Paylend, a Kenyan FinTech startup focused on providing access to finance and digitizing MSMEs in Kenya have today announced that it has raised a $2 million dollars seed investment from Next Chymia Consulting HK Limited.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Accelerating Digital Transformation: Why Technology is the Key to Eliminating the MSME Finance Gap in Emerging Markets
According to the IFC, micro, small and medium enterprises (MSMEs) in emerging markets face a finance gap of $5.2 trillion every year. Since MSMEs are responsible for 70% of job opportunities in these countries, this gap must be addressed. According to Brian Pallas at Opportunity Network, that’s where digital technologies can offer a solution. He explores how emerging innovations offer alternative, tech-enabled means of financing for MSMEs, and how business leaders and policymakers can support these enterprises' digital transformation.
- Categories
- Entrepreneurship, Finance, Technology
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Housing Finance Company Altum Credo Raises $12 Million in Funding in India
The housing finance company, Altum Credo, announced it has raised $12 million, in fresh equity funding led by growth fund Amicus Capital.
- Region
- Asia Pacific
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European Investment Bank Publishes Unique Analysis of Impact of COVID-19 on Financing Across Africa
The new report explores how access to finance provided by banks, microfinance and private equity sectors have been affected and what long-term trends may impact private sector investment.
- Categories
- Coronavirus
- Region
- Sub-Saharan Africa
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Airtel Africa, UNICEF Partner to Enhance Digital Learning in Nigeria, 12 Others
Airtel Africa and UNICEF have announced a five-year pan-African multi-million dollar partnership to scale-up digital learning for school children in Nigeria and 12 other countries in Africa.
- Categories
- Education, Technology
- Region
- Sub-Saharan Africa
- Tags
- digitization, EdTech, education, partnerships, scale, tech, technology
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Mastercard Partners With LEAF To Expand Financial Inclusion, Increase Farmers’ Income
The platform is aimed at improving the lives of Indian farmers by leveraging technology aided by human intervention and solving multiple challenges of transparency in India's rural ecosystem.
- Categories
- Agriculture
- Region
- Asia Pacific
Parent Organization
