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International funding for financial inclusion climbs to $29 billion in 2012 – survey
Global spending on financial inclusion increased by an estimated 12 percent in 2012, totaling $29 billion, according to a survey by a World Bank financial inclusion think tank.
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Technology rings in financial inclusion
Technology is powering inclusive growth, using mobile telephony to deliver financial literacy and access to small value financial transactions for those at the bottom of the pyramid.
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- Technology
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Mobile transactions in Kenya hit USD $19.6 billion in 2013
Kenyans transacted KSh1.7 trillion (US$19.6 billion) through their mobile phones in the first 11 months of 2013, underscoring the increasing significance of handsets in the financial services sector.
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Growth Of Payroll Cards Brings Financial Inclusion For Unbanked Americans
According to a recent Federal Deposit Insurance Corporation (FDIC) survey, more than 68 million Americans live day to day in a cash-only economy. They pay their bills and buy groceries with cash and what money they save is stuffed under the proverbial mattress.
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Central Bank of Nigeria moves to enhance financial services to Nigerians
Nigeria felt that it is lagging behind some of its peer countries in Africa.
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- Region
- Sub-Saharan Africa
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Credit Score, by Multiple Choice
No credit? No problem — just take a test. That’s the message being delivered to more than 70,000 small-business owners in developing countries where credit ratings are rare and many potential entrepreneurs keep their money in cash rather than bank accounts.
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Nigeria promoting financial inclusion through prize-linked promotions
Showy and appealing, prize-linked promotions (PLPs) are the modern version of ‘Million Adventure’, a savings programme launched in the UK in 1694. Anne Murphy in “Lotteries in the 1690s: Investment or Gamble?” described it as “an unprecedented large-scale financial saving tool”. Thomas Neale, who was in charge of the promo commenting on its success said: ‘many Thousands who only have small sums, and cannot now bring them into the Publick, [may now] engage themselves in this Fund’.
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Reserve Bank of India panel suggests new set of banks for financial inclusion
RBI panel headed by Nachiket Mor also seeks universal electronic bank account for all adult Indian citizens by January 2016.
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