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Zimbabwe: Mobile Money Drives Financial Inclusion
Financial inclusion in Zimbabwe increased to 77 percent in 2014 from 60 percent in 2011 mainly driven by mobile money platforms, the FinScope Consumer Survey has shown. According to the survey, which was launched yesterday, 45 percent of the population (3,15 million) is registered with mobile money platforms. Of those who are registered users, 80 percent use it to remit while 46 percent use it to transact in order to pay utility bills, buy airtime, etc.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Remittances to Developing Nations to Hit $500 Billion in 2015 – U.N. Official
An estimated 230 million migrants will send $500 billion in remittances to developing countries in 2015, a flow of capital expected to do more to reduce poverty than all development aid combined, a senior official of the U.N. agricultural bank said.
- Categories
- Agriculture
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Understanding the ‘Invisible Finance Sector’: FAI Executive Director Jonathan Morduch discusses the U.S Financial Diaries’ research on informal finance – Part 1
It’s easy to assume that informal financial tools like family loans are only used when people lack access to formal finance. But that’s not what the U.S. Financial Diaries project has found. In part one of this Q&A, Financial Access Initiative Executive Director Jonathan Morduch discusses the enduring appeal of informal finance among low-income people - and what it means for financial services providers.
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- Education
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Inequality Has Actually Not Risen Since the Financial Crisis
The notion that income inequality has continued to rise over the past decade is part of the conventional wisdom. You’ve no doubt heard versions: The rich just keep getting richer. Inequality is higher than ever. Nearly all of the gains from the economic recovery have gone to the top 1 percent.
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- Uncategorized
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Microfinance Strikes Deep Roots in West Bengal
The Indian microfinance sector has found a new Andhra Pradesh in West Bengal. The sector, which has not been able to see any business in the state of Telangana and AP, has seen brisk business in this eastern state, piping other southern states as well.
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- Uncategorized
- Region
- South Asia
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Africa Tech Trends: The Age of Start-Up Accelerators
Start-up accelerators are common in Europe and the United States, where the likes of Y Combinator and Startupbootcamp have emerged as leaders in the model and have offered hundreds of start-ups both equity funding and mentorship to assist them in scaling. But in Africa the concept is still very young, having only really arrived in 2012.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Kenya’s Mobile Money Use Swells to a Record $50,000 per Minute, $26.1 Billion Annually in 2014
Kenya's 2014 mobile money use surged to a record 26.1 billion U.S. dollars, an increase of about 4 billion dollars from previous year.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Mexican Banks Using Mobile Payments Technology to Enable Digital Transactions at Mom-and-Pop Stores
In a bid to increase card payments and financial inclusion, Mexican banks are collaborating with mobile payments technology vendors to deploy mPOS solutions at mom-and-pop stores. The Mexican government encourages these initiatives, as around 70 percent of all purchases in Mexico are made with cash and the informal economy represents 30 percent of GDP.
- Categories
- Uncategorized
- Region
- Latin America
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