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Kenya’s Safaricom’s overdraft service exceeds expectations
Started 11 years ago as a service to allow Kenyans without access to the banking network to transfer money via mobile phones, M-Pesa now offers loans and savings in conjunction with local banks, as well as merchant payments services.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Go-Jek buys fintech startup Coins.ph for $72M ahead of Philippines expansion
Today, Go-Jek announced it has acquired local fintech company Coins.ph through “substantial investment,” which gives it a majority stake in the business.
- Categories
- Finance
- Region
- Asia Pacific
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WorldRemit set to boost Ethiopia’s remittance income
“We are proud to be a pioneering bank in modernizing Ethiopia’s payment systems. The various e-payment facilities deployed have enabled us to become the number one provider of technology-based banking services,“ CBE President Bacha Gina said.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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How Informal Employment in Emerging Markets is Boosting Fintechs in Alternative Lending
The informal sector, which official GDP does not reflect, holds a significant share in the economies of developing countries. At the same time, if the volume of goods and services produced informally is rarely more than 40 percent of the official GDP, then the share of people employed off the books can be incomparably higher.
- Categories
- Finance
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Ant Invests $40M In Indonesia FinTech Akulaku
Launched in 2016, Akulaku started out with a virtual credit card before developing its own eCommerce platform, boasting 3C products and virtual payment scenarios.
- Categories
- Finance
- Region
- Asia Pacific
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Viewpoint: The Future Is in Africa, and China Knows It
Although securing access to natural resources is surely one of China’s goals, its investments in Africa go beyond extractive industries.
- Region
- Sub-Saharan Africa
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Helping the Digital Revolution Reach the Corner Store: Piloting Mobile Solutions for Micro-Retailers
Across the developing world, there are millions of small-scale shopkeepers who want to build their businesses. But with no training in management skills, many often struggle to run their shops. Can digital tools help address this challenge? TechnoServe sought to answer that question by piloting a smartphone platform that worked with shopkeepers in Kenya to improve the operations of their stores. Alice Waweru explores the program’s benefits and limitations.
- Categories
- Technology
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Central Bank of Nigeria unveils strategy to achieve 80% financial inclusion
The CBN stated that “the major goal of this revised strategy is to reduce the proportion of adult Nigerians that are financially excluded to 20 percent in year 2020 from it baseline figure of 46.3 percent in 2010.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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