-
Delivering on Mass Market Insurance in Africa: Debunking the Myth of Low Demand
Africa’s insurance penetration rate in 2019 was only 2.78%, significantly lower than the global average — and insurance usage is concentrated among the urban elite, with minimal adoption among the people with the most risk of financial shocks. According to Ted Pantone at Turaco, there's a widespread belief in the industry that this lack of uptake means African customers don't see value in the benefits of insurance. But he argues that Turaco’s rapid growth in Africa is debunking that myth. He explores three aspects of the company's model that have enabled it to unlock African customers' latent demand for insurance.
- Categories
- Finance
-
Kenya to Employ Mobile Money to Fight Tax Evasion
Kenya has introduced a new policy aimed at using mobile money to curb tax evasion in that country.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
-
Diaspora Remittances Now Kenya’s Largest Foreign Exchange Earner
Kenya is now earning more foreign exchange from diaspora remittances than each of its major exports.
- Categories
- Finance
- Region
- Sub-Saharan Africa
-
Press Release: USAID Announces Four New Public-Private Partnerships Under the Digital Invest Program to Support Digital Finance and Internet Service Providers
This year, USAID will launch the following new partnerships, expanding and diversifying the Digital Invest portfolio.
- Categories
- Finance, Technology
- Region
- Global
-
PhonePe Raises $350 Million From General Atlantic at $12 Billion Valuation
Walmart-owned PhonePe on Thursday said it has $350 million in its latest funding round from General Atlantic at a pre-money valuation of $12 billion.
- Region
- Asia Pacific
-
We Asked Small Business Owners How Digitalization is Impacting Their Businesses: Here’s How They Responded
Digitalization has become the go-to strategy for improving the performance of Latin America’s micro and small enterprises (MSEs). But according to Daryl Collins and Maria Pia Torres at Decodis, we know little about how MSE owners themselves experience these changes. They share insights from Decodis' surveys of 114 mostly women-led MSEs in Colombia, Mexico and Peru, which highlight how digital solutions have become embedded in these businesses – and where business owners see the most value in digitalization.
- Categories
- Entrepreneurship, Finance, Technology
-
Nubank Secures $150 Million Credit Line With Second Loan Since April
The loan from the IFC, the financial arm of the World Bank, the second credit line for the fintech since April, will be used for expansion in Latin America.
- Categories
- Finance
- Region
- Latin America
- Tags
- financial inclusion, fintech, loan
-
Fintech Startup NeoGrowth Raises $10 Million From MicroVest
NeoGrowth plans to deploy the funding to expand in India while aiming to secure more growth capital.
- Categories
- Entrepreneurship, Finance, Investing, Technology
- Region
- Asia Pacific
The Best of NextBillion in Your Inbox Each Week!
Subscribe to NB Notes for news, jobs & on-the-ground insights from the world of emerging markets business.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.