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MTN Shuts Down Mobile Money Service in South Africa, Plans to Start Selling Insurance
In a country where more than 75 percent of people have bank accounts, South Africa-based mobile phone operator MTN Group has pulled the plug on its mobile money service there, saying it’s not viable.
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- Uncategorized
- Region
- Sub-Saharan Africa
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The One-Rupee Trick: How Banks Cut Their Zero-Balance Jan Dhan Accounts
In August 2014, a few weeks after the launch of Jan Dhan, the government’s flagship scheme under which the unbanked get bank accounts, Kamlesh, a housewife at Purnapur village in Uttar Pradesh’s Bareilly, opened an account at the Punjab and Sind Bank’s local branch. Wife of a farmer, the opening balance in her account was zero. This wasn’t unusual — in fact, accounts like Kamlesh’s, called zero-balance accounts, made up almost half of all the 17.90 crore Jan Dhan accounts a year later given that most of the holders were poor and had little by way of savings.
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- Uncategorized
- Region
- South Asia
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Eight Principles for Digital Payments in Humanitarian Response
Recognizing both the practical challenges to using locally available digital payment services and the powerful opportunity to leverage humanitarian spending to build inclusive, lasting financial infrastructure, 24 public, multilateral and nongovernmental organizations met in Barcelona earlier this year and developed eight principles for digital payments in humanitarian response.
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- Uncategorized
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India’s Microfinance Industry Clocked 60% Growth in Fiscal 2016
After years of subdued growth, the Indian microfinance (MFI) industry expanded more than 60% to Rs54,329 crore in 2015-16 compared to the previous year, according to a report prepared by Sa-Dhan, the self regulatory organisation of MFIs.
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- Uncategorized
- Region
- South Asia
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Live from SOCAP, Thursday
A recap of Day 3 at SOCAP16, with more Facebook Live interviews and an inside look at some interesting conversations about terminology and trust.
- Categories
- Social Enterprise
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How Digital Financial Services Can Lift Nigerians Out of Poverty
A report, the “financial inclusion insight (FII),” has stressed that digital financial services (DFS) can play a key role in managing expenses and setting individuals and households on paths to stay out of poverty permanently.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Live from SOCAP, Wednesday
Team NextBillion – Scott Anderson and James Militzer – is reporting from SOCAP16 in San Francisco, conducing a series of Facebook Live interviews, attending sessions and meeting some of the many "doers" in attendance at the world’s largest conference on social enterprise and impact investing.
- Categories
- Social Enterprise
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Uganda Has Highest Mobile Money Fraud Cases
Kampala — More than half of Uganda's mobile money agents have reported the highest incidents of fraud among the eight countries studied, a new report reveals.
- Categories
- Technology
- Region
- Sub-Saharan Africa