-
Tanzania Slashes Controversial Mobile Money Levy
The levy charged on sending, receiving money using mobile phones drew criticism for heaping burden on people.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
-
Report: Leveraging SME Financing as Engine of Economic Growth and Job Creation in Sierra Leone
According to a new World Bank economic analysis for Sierra Leone, small and medium enterprises (SMEs) are critical to achieving goals of economic diversification.
- Categories
- Finance
- Region
- Sub-Saharan Africa
-
The Leapfrog Opportunity in ‘Know Your Customer’ Innovation: Why Africa Needs Local, Digitized KYC Solutions
Know Your Customer (KYC) is a critical process for banks, as it enables them to validate their customers’ identities to fulfill regulatory requirements and protect against fraud. But as Timbo Drayson at OkHi explains, KYC is a big and expensive problem in Africa: For instance, in Nigeria some banks are spending up to $1 million per year to manually verify identities, and 15-30% of customers never complete these processes. He explores three key challenges to KYC in Africa, and presents some tech-driven solutions that could allow the continent to leapfrog to a new global best practice for KYC.
- Categories
- Finance, Technology
-
Africa-Focused Fintech Startup Fido Raises $30 Million
The funds will be used to launch new category-creating financial products in Ghana to grow the company’s customer base throughout Africa.
- Region
- Sub-Saharan Africa
-
African Development Bank Group Initiative to Increase Finance for Women SMEs in Nigeria, Others
The new AfDB-funded AWIEF program aims to accelerate efforts to address gender inequality and drive inclusive economic transformation.
- Categories
- Finance
- Region
- Sub-Saharan Africa
-
Press Release: U.S. International Development Finance Corporation and Gazelle Finance Launch Facility to Support Ukrainian Companies Displaced by War
The economic recovery facility will provide technical assistance to Ukrainian small and medium enterprises (SMEs) whose businesses have been negatively impacted by the war.
- Categories
- Finance
- Region
- Europe & Eurasia
-
FirstBank Secures $150 Million Afreximbank Pandemic Trade Impact Mitigation Facility (PATIMFA) To Support Businesses In Nigeria
Afreximbank’s financial support will be accessible to FirstBank customers involved in manufacturing and importing healthcare-related products.
- Categories
- Coronavirus, Finance, Health Care
- Region
- Sub-Saharan Africa
-
Indonesia’s Flip Raises $55 Million in Second Series B Round Led by Tencent
Flip, an Indonesia-based consumer payments platform, announced a Series B funding round led by Tencent, with participation from Block, Inc. and existing investor Insight Partners.
- Categories
- Finance, Technology
- Region
- South Asia
Subscribe to Our 'Business in Global Development' Newsletter!
Our new weekly LinkedIn newsletter features NextBillion's latest original articles, along with curated news, jobs, bizdev opportunities and events from our recent coverage of impact-focused business in emerging markets.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.